Registered number
SC741806
BROWNS TOBERMORY LTD
Unaudited Filleted Accounts
31 March 2025
BROWNS TOBERMORY LTD
Registered number: SC741806
Balance Sheet
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 29,816 22,734
Current assets
Stocks 144,103 142,529
Debtors 4 5,378 8,880
Cash at bank and in hand 7,113 5,826
156,594 157,235
Creditors: amounts falling due within one year 5 (58,731) (85,406)
Net current assets 97,863 71,829
Total assets less current liabilities 127,679 94,563
Creditors: amounts falling due after more than one year 6 (4,960) (5,026)
Net assets 122,719 89,537
Capital and reserves
Called up share capital 10 10
Profit and loss account 122,709 89,527
Shareholders' funds 122,719 89,537
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Colin MacDonald
Director
Approved by the board on 29 August 2025
BROWNS TOBERMORY LTD
Notes to the Accounts
for the year ended 31 March 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Commercial Motor Vehicle over 5 years
Shop & Office Equipment - including computer equipment, till, security cameras, scales, display lights, electric fire, guillotine, hand stacker, sack truck, shop signs & vacuum over 5 years
Shop & Office Equipment - including shelving, floor mats, cabinets, sandbag filler, bookcases, cash drawers, trailer, labelling guns & display stands over 10 years
Shop & Office Equipment - atmospheric business specific painting over 30 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Council Grants
Argyll & Bute Council grant received in the previous year, totalling £1,661, was a small business development grant and has been used, in part, to purchase assets and, in part, to cover revenue expenditure. This grant has been recognised on the performance model, as income.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 4 3
3 Tangible fixed assets
Shop & Office Equipment Commercial Motor Vehicle Total
£ £ £
Cost
At 1 April 2024 4,941 18,824 23,765
Additions 9,934 - 9,934
At 31 March 2025 14,875 18,824 33,699
Depreciation
At 1 April 2024 660 371 1,031
Charge for the year 1,087 1,765 2,852
At 31 March 2025 1,747 2,136 3,883
Net book value
At 31 March 2025 13,128 16,688 29,816
At 31 March 2024 4,281 18,453 22,734
4 Debtors 2025 2024
£ £
Square Balance 2,243 6,077
Prepayments & Accrued Income 3,135 2,650
CT61 Tax Reclaimable - 153
5,378 8,880
5 Creditors: amounts falling due within one year 2025 2024
£ £
CT61 Tax Payable 247 -
Deferred Tax 705 657
Square Gift Cards 683 449
Trade Creditors 20,166 19,839
Accruals 1,580 1,903
PAYE/NIC Payable 4,746 231
Corporation Tax Payable 6,388 16,941
Pensions Payable 225 137
VAT Payable 2,838 2,185
Directors' Loan Account 21,153 43,064
58,731 85,406
6 Creditors: amounts falling due after one year 2025 2024
£ £
Deferred Tax 4,960 5,026
7 Related party transactions
At the year end the directors, Colin & Helen MacDonald, were owed £21,153 (2024: £43,064) by the company in equal share. This balance includes interest of £2,001 (2024: £4,744), at a rate of 8% (2024: 10%), charged to the company on the outstanding balance owed to the directors, and expensed to the profit and loss in the year. There is no fixed term of repayment for this loan.
8 Other information
BROWNS TOBERMORY LTD is a private company limited by shares and incorporated in Scotland. Its registered office is:
21 Main Street
Tobermory
Argyll & Bute
PA75 6NU
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