George Brown & Sons Engineers (Leith)Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: SC022512 (Scotland)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

George Brown & Sons Engineers (Leith)Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G C Brown

Mrs C L B Suttle

SECRETARY:

Mrs C L B Suttle

REGISTERED OFFICE:

8B Macmerry Industrial Estate

Tranent

East Lothian

EH33 1RD

REGISTERED NUMBER:

SC022512 (Scotland)

ACCOUNTANTS:

Cowan & Partners Limited

60 Constitution Street

Edinburgh

EH6 6RR

FIXED ASSETS

Tangible assets

4

190,500

181,319

CURRENT ASSETS

Stocks

265,246

269,246

Debtors

5

1,279,292

1,024,253

Cash at bank and in hand

296,510

1,803,111

1,841,048

3,096,610

CREDITORS

Amounts falling due within one year

6

576,727

737,802

NET CURRENT ASSETS

1,264,321

2,358,808

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,454,821

2,540,127

PROVISIONS FOR LIABILITIES

45,935

42,836

NET ASSETS

1,408,886

2,497,291

CAPITAL AND RESERVES

Called up share capital

30,000

Capital redemption reserve

2,000

Retained earnings

1,376,886

2,465,291

SHAREHOLDERS' FUNDS

1,408,886

2,497,291

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 25 September 2025 and were signed on its behalf by:

G C Brown - Director

1.	STATUTORY INFORMATION

George Brown & Sons Engineers (Leith)Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax. The company's policy is to recognise a sale when substantively all the risks and rewards in connection with the goods have been passed to the buyer.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Plant and machinery etc.

25%RB

Fixtures and fittings

25%RB

Motor vehicles

25%RB

Heritable property

5%RB

Self constructed assets

25%RB

Computers

33.3%SL

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

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.

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.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 49 (2023 - 41 ) .

4.	TANGIBLE FIXED ASSETS

Heritable

Computer

Plant and

property

equipment

machinery

£

COST

At 1 January 2024

21,617

2,937

618,388

Additions

-

16,381

-

Disposals

(21,617

)

-

At 31 December 2024

-

19,318

618,388

DEPRECIATION

At 1 January 2024

18,834

1,754

535,553

Charge for year

-

6,433

20,709

Eliminated on disposal

(18,834

)

-

At 31 December 2024

-

8,187

556,262

NET BOOK VALUE

At 31 December 2024

-

11,131

62,126

At 31 December 2023

2,783

1,183

82,835

Fixtures

Self

and

Motor

constructed

fittings

vehicles

assets

Totals

£

COST

At 1 January 2024

48,031

267,983

83,478

1,042,434

Additions

29,211

34,193

-

79,785

Disposals

-

(32,000

)

-

(53,617

)

At 31 December 2024

77,242

270,176

83,478

1,068,602

DEPRECIATION

At 1 January 2024

41,415

181,879

81,680

861,115

Charge for year

8,957

29,675

450

66,224

Eliminated on disposal

-

(30,403

)

-

(49,237

)

At 31 December 2024

50,372

181,151

82,130

878,102

NET BOOK VALUE

At 31 December 2024

26,870

89,025

1,348

190,500

At 31 December 2023

6,616

86,104

1,798

181,319

There were no indicators of impairment in the year.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade debtors

1,245,548

960,316

Other debtors

33,744

63,937

1,279,292

1,024,253

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade creditors

340,796

351,363

Taxation and social security

218,361

283,393

Other creditors

17,570

103,046

576,727

737,802

7.	SECURED DEBTS

The Bank of Scotland holds a standard security over the company's premises and a bond and floating charge over the assets of the company. The Royal Bank of Scotland also holds a standard security over the assets of the company.