REGISTERED NUMBER: SC061286 (Scotland)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

R. Mitchell (Glass) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

L J Roden

REGISTERED OFFICE:

Currie Road

Galashiels

TD1 2BP

REGISTERED NUMBER:

SC061286 (Scotland)

ACCOUNTANTS:

EQ Accountants Ltd

47-49 The Square

Kelso

Roxburghshire

TD5 7HW

FIXED ASSETS

Property, plant and equipment

4

278,916

264,203

Investments

5

5,725

5,725

284,641

269,928

CURRENT ASSETS

Inventories

67,809

50,320

Debtors

6

266,975

164,782

Cash at bank and in hand

59,392

155,341

394,176

370,443

CREDITORS

Amounts falling due within one year

7

492,609

426,774

NET CURRENT LIABILITIES

(98,433

)

(56,331

)

TOTAL ASSETS LESS CURRENT LIABILITIES

186,208

213,597

CREDITORS

Amounts falling due after more than one year

8

(20,833

)

(70,833

)

PROVISIONS FOR LIABILITIES

(17,000

)

(13,500

)

NET ASSETS

148,375

129,264

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

148,275

129,164

148,375

129,264

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 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 September 2025 and were signed by:

L J Roden - Director

1.	STATUTORY INFORMATION

R. Mitchell (Glass) 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

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Freehold property

-

Straight line over 40 years

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

Stocks

Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Going concern

The director has considered the Company's financial position for a period of 12 months from the date of signing these financial statements and has reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, these financial statements have been prepared on the going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2023 - 23 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2024

272,000

319,201

591,201

Additions

-

53,519

53,519

At 31 December 2024

272,000

372,720

644,720

DEPRECIATION

At 1 January 2024

81,034

245,964

326,998

Charge for year

6,800

32,006

38,806

At 31 December 2024

87,834

277,970

365,804

NET BOOK VALUE

At 31 December 2024

184,166

94,750

278,916

At 31 December 2023

190,966

73,237

264,203

Freehold land and buildings:

2024

2023

£

£

Historical cost

92,969

92,969

Cumulative depreciation based on historical cost

92,969

92,969

-

-

Heritable property is a factory at Currie Road, Galashiels on land leased from Borders Regional Council to 2078. The property was revalued on 31 January 2012 by Alistair MacDonald, Chartered Surveyor, on the open market value basis.

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 January 2024

and 31 December 2024

5,725

NET BOOK VALUE

At 31 December 2024

5,725

At 31 December 2023

5,725

The investment comprises an investment in gold sovereigns. The price of gold at the time of purchase was $1,322 per oz and the price was $2,607 per oz at the balance sheet date (2023 - $2,063).

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/24

31/12/23

£

£

Trade debtors

154,955

114,036

Amounts owed by group undertakings

78,410

26,308

Other debtors

33,610

24,438

266,975

164,782

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/24

31/12/23

£

£

Bank loans and overdrafts

50,000

50,000

Trade creditors

148,785

146,610

Taxation and social security

76,852

78,105

Other creditors

216,972

152,059

492,609

426,774

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/12/24

31/12/23

£

£

Bank loans

20,833

70,833

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31/12/24

31/12/23

£

£

Within one year

11,807

11,267

Between one and five years

12,046

3,776

23,853

15,043

10.	SECURED DEBTS

The Royal Bank of Scotland PLC holds a standard security and floating charge over all Company property and assets.