REGISTERED NUMBER: SC288237 (Scotland)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

John Dick & Son Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

B H Dick

Mrs S Dick

SECRETARY:

B H Dick

REGISTERED OFFICE:

The Peel,

Waterside Road

Busby

Glasgow

G76 9HN

REGISTERED NUMBER:

SC288237 (Scotland)

ACCOUNTANTS:

Graham & Co. (Accountants) Limited

76 Dumbarton Road

Clydebank

Glasgow

G81 1UG

FIXED ASSETS

Intangible assets

4

4,000

8,000

Tangible assets

5

178,575

195,587

182,575

203,587

CURRENT ASSETS

Stocks

162,315

207,845

Debtors

6

29,731

19,654

Cash at bank and in hand

493,383

522,687

685,429

750,186

CREDITORS

Amounts falling due within one year

7

326,889

372,409

NET CURRENT ASSETS

358,540

377,777

TOTAL ASSETS LESS CURRENT LIABILITIES

541,115

581,364

CREDITORS

Amounts falling due after more than one year

8

(27,400

)

(32,731

)

PROVISIONS FOR LIABILITIES

(2,655

)

(5,575

)

NET ASSETS

511,060

543,058

CAPITAL AND RESERVES

Called up share capital

99

99

Retained earnings

510,961

542,959

SHAREHOLDERS' FUNDS

511,060

543,058

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:

B H Dick - Director

1.	STATUTORY INFORMATION

John Dick & Son 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.

Significant judgements and estimates

Preparation of the financial statements requires management to make significant judgements and estimates. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

Changes to estimates and underlying assumptions are recognised in the period in which the estimate is revised, where the revision affects only that period, or in the period of the revision and future periods, where the revision affects both current and future periods.

The directors are of the opinion that there are no matters of significant judgements, estimates and assumptions that have significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Turnover

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

Goodwill

On the adoption of, and in accordance with, FRS102 Section 1A 'Small Entities' - the balance of Goodwill is being written off evenly over the estimated remaining useful life of 10 years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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.

Land and buildings

-

2% on cost

Plant and machinery etc

-

25% on cost and 20% on cost

Impairment of tangible fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Stocks

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

Financial instruments

Financial assets and liabilities are recognised when the Company becomes a party to the contractual provisions of the financial instrument. The Company holds basic financial instruments which comprise cash and cash equivalents, trade and other debtors, trade and other creditors and

loans from banks and other related parties.

Cash and cash equivalents comprise cash in hand and deposits held with banks.

Trade and other debtors are initially recognised at the transaction cost, less any provision for impairment. At the end of each reporting year, the company assesses whether there is objective evidence that any asset may be impaired. A provision for impairment is established when there is objective evidence that the Company will not be able to collect all the amounts due according to the original terms of the financial assets. the amount of the provision is recognised immediately in the statement of income and retained earnings.

Trade and other creditors are measured initially at the transaction price including any transaction costs. Amounts that are payable within one year are measured at the undiscounted amount expected to be payable.

Bank loans are recognised at the fixed amount to be repaid.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 12 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

80,000

AMORTISATION

At 1 January 2024

72,000

Charge for year

4,000

At 31 December 2024

76,000

NET BOOK VALUE

At 31 December 2024

4,000

At 31 December 2023

8,000

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2024

266,623

124,733

391,356

Additions

-

458

458

At 31 December 2024

266,623

125,191

391,814

DEPRECIATION

At 1 January 2024

93,335

102,434

195,769

Charge for year

5,333

12,137

17,470

At 31 December 2024

98,668

114,571

213,239

NET BOOK VALUE

At 31 December 2024

167,955

10,620

178,575

At 31 December 2023

173,288

22,299

195,587

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

Plant and

machinery

etc

£

COST

At 1 January 2024

60,862

Transfer to ownership

(30,635

)

At 31 December 2024

30,227

DEPRECIATION

At 1 January 2024

53,203

Transfer to ownership

(22,976

)

At 31 December 2024

30,227

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

7,659

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Other debtors

29,731

19,654

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

5,000

5,000

Hire purchase contracts

-

6,926

Trade creditors

77,510

70,980

Taxation and social security

100,937

150,937

Other creditors

143,442

138,566

326,889

372,409

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans

27,400

32,731

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

7,400

12,731

9.	RELATED PARTY DISCLOSURES

Included in Other Debtors at 31 December 2024, was an amount of £14,234 due by the directors. In 2023 the amount due to the directors in Other Creditors was £5,434.The balance due by the directors at 31 December 2024 was cleared on 31 March 2025.

10.	ULTIMATE CONTROLLING PARTY

The company is under the control of Mr B Dick, director.