REGISTERED NUMBER: SC122379 (Scotland)

Financial Statements for the Year Ended 31 December 2024

for

George Beattie & Sons Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

3,022,754

2,818,663

CURRENT ASSETS

Stocks

71,487

99,034

Debtors

5

1,746,326

1,455,488

Cash at bank

241,250

208,843

2,059,063

1,763,365

CREDITORS

Amounts falling due within one year

6

(837,388

)

(926,564

)

NET CURRENT ASSETS

1,221,675

836,801

TOTAL ASSETS LESS CURRENT LIABILITIES

4,244,429

3,655,464

CREDITORS

Amounts falling due after more than one year

7

(24,817

)

(74,853

)

PROVISIONS FOR LIABILITIES

(574,323

)

(430,714

)

NET ASSETS

3,645,289

3,149,897

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

3,645,287

3,149,895

SHAREHOLDERS' FUNDS

3,645,289

3,149,897

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 April 2025 and were signed on its behalf by:

A G Beattie - Director

D A Beattie - Director

1.	STATUTORY INFORMATION

George Beattie & Sons Limited is a private company, limited by shares, domiciled in Scotland, registration number SC122379. The registered office is Auchinvole Castle, Kilsyth, Glasgow, G65 0SA.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net invoiced sales of goods and services in respect of demolition services, excluding value added tax. Sales are recognised at the point at which the goods are delivered or the service is complete.

Tangible fixed assets and depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

27 years

Motor vehicles

-

25% on reducing balance

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is represented by purchase price.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Provisions

Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is

determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2023 - 28 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 January 2024

4,251,000

296,225

651,066

5,198,291

Additions

885,953

9,725

289,830

1,185,508

Disposals

(547,000

)

-

(25,674

)

(572,674

)

At 31 December 2024

4,589,953

305,950

915,222

5,811,125

DEPRECIATION

At 1 January 2024

1,951,020

171,865

256,743

2,379,628

Charge for year

630,179

19,096

117,777

767,052

Eliminated on disposal

(346,011

)

-

(12,298

)

(358,309

)

At 31 December 2024

2,235,188

190,961

362,222

2,788,371

NET BOOK VALUE

At 31 December 2024

2,354,765

114,989

553,000

3,022,754

At 31 December 2023

2,299,980

124,360

394,323

2,818,663

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

£

COST

At 1 January 2024

795,250

Disposals

(93,000

)

Transfer to ownership

(554,250

)

At 31 December 2024

148,000

DEPRECIATION

At 1 January 2024

173,922

Charge for year

131,429

Eliminated on disposal

(57,759

)

Transfer to ownership

(210,592

)

At 31 December 2024

37,000

NET BOOK VALUE

At 31 December 2024

111,000

At 31 December 2023

621,328

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

339,346

603,531

Other debtors

1,406,980

851,957

1,746,326

1,455,488

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

17,070

139,731

Hire purchase contracts

40,000

168,342

Trade creditors

556,740

281,675

Taxation and social security

209,787

332,996

Other creditors

13,791

3,820

837,388

926,564

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans

8,150

18,186

Hire purchase contracts

16,667

56,667

24,817

74,853

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Bank overdrafts

7,023

129,674

Hire purchase contracts

56,667

225,009

63,690

354,683

The Royal Bank of Scotland plc have registered a bond and floating charge with effect from 25 February 2008.

Amounts due on hire purchase are secured over the individual assets concerned.

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

31.12.24

31.12.23

£

£

A G Beattie

Balance outstanding at start of year

545,436

-

Amounts advanced

276,815

545,436

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

822,251

545,436

D A Beattie

Balance outstanding at start of year

31,297

-

Amounts advanced

28,573

31,297

Amounts repaid

(31,825

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

28,045

31,297