REGISTERED NUMBER: SC466556 (Scotland)

Messrs R Flannigan Limited

Unaudited Financial Statements

for the Year Ended 31st December 2024

Page

Company information

1

Balance sheet

2

to

3

Notes to the financial statements

4

to

6

Director:

Mr Colin Flannigan

Secretary:

Mr Colin Flannigan

Registered office:

Ivy Cottage

Main Street

Morebattle

Kelso

Roxburghshire

TD5 8QQ

Registered number:

SC466556 (Scotland)

Accountants:

Rennie Welch LLP

Academy House

Shedden Park Road

Kelso

Roxburghshire

TD5 7AL

Fixed assets

Tangible assets

4

18,121

31,804

Current assets

Stocks

19,607

22,344

Debtors

5

44,136

50,609

Cash at bank

44,472

5,671

108,215

78,624

Creditors

Amounts falling due within one year

6

62,919

55,034

Net current assets

45,296

23,590

Total assets less current liabilities

63,417

55,394

Provisions for liabilities

3,443

6,043

Net assets

59,974

49,351

Capital and reserves

Called up share capital

100

100

Retained earnings

59,874

49,251

Shareholders' funds

59,974

49,351

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

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

The director acknowledges his 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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 29th August 2025 and were signed by:

Mr Colin Flannigan - Director

1.	Statutory information

Messrs R Flannigan Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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 the total invoice value, excluding value added tax, of sales invoiced during the year, or the fair value of services provided for amounts not invoiced at the year end.

Turnover arising from the sale of goods is recognised when the significant risks and rewards of ownership have passed to the buyer. Turnover arising from the provision of services is recognised as contract activity progresses and the right to consideration is earned. Unbilled turnover is included in debtors as amounts recoverable on contracts.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Improvements to property

-

10% on cost

Plant and machinery

-

10% on reducing balance

Motor vehicles

-

25% on reducing balance

Office equipment

-

25% on cost

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Stocks

Stock and work in progress are valued at the lower of cost and net realisable value. Cost includes all direct expenditure and appropriate proportion of fixed and variable overheads. Net realisable value is based on estimated selling prices less further costs expected to be incurred in bringing the stock to completion.

Financial instruments

The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, accruals and directors' loans.

Directors' loans (being repayable on demand), trade debtors, trade creditors and accruals are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Provisions

Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably.

Employee benefits

Short term employee benefits, including holiday pay, are recognised as an expense in the Statement of Income and Retained Earnings in the period in which they are incurred.

Going concern

The director has considered the company's financial position for a minimum period of 12 months and beyond from the date of signing these financial statements and has an expectation that the company should be in a position to continue trading in the current format for the foreseeable future. Accordingly, he continues to adopt the going concern basis in preparing these financial statements.

3.	Employees and directors

The average number of employees during the year was 4 (2023 - 4 ) .

4.	Tangible fixed assets

Improvements

to

Plant and

Motor

Office

property

machinery

vehicles

equipment

Totals

£

£

£

£

£

Cost

At 1st January 2024

1,283

4,945

41,400

1,030

48,658

Additions

-

-

7,250

-

7,250

Disposals

-

-

(28,900

)

-

(28,900

)

At 31st December 2024

1,283

4,945

19,750

1,030

27,008

Depreciation

At 1st January 2024

1,283

2,625

12,227

719

16,854

Charge for year

-

233

2,955

128

3,316

Eliminated on disposal

-

-

(11,283

)

-

(11,283

)

At 31st December 2024

1,283

2,858

3,899

847

8,887

Net book value

At 31st December 2024

-

2,087

15,851

183

18,121

At 31st December 2023

-

2,320

29,173

311

31,804

5.

Debtors: amounts falling due within one year

2024

2023

£

£

Trade debtors

43,656

50,609

Other debtors

480

-

44,136

50,609

6.

Creditors: amounts falling due within one year

2024

2023

£

£

Trade creditors

18,128

17,689

Taxation and social security

19,637

14,645

Other creditors

25,154

22,700

62,919

55,034

7.	Post balance sheet events

Since the year end, on 11 February 2025, an interim dividend for the year ending 31 December of 2025 £180 per share has been declared.