REGISTERED NUMBER: SC051634 (Scotland)

Financial Statements for the Year Ended 31 December 2024

for

John O'Groats Crafts Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr W D Mowat

REGISTERED OFFICE:

Roadside

John O'Groats

By Wick

Caithness

KW1 4YR

REGISTERED NUMBER:

SC051634 (Scotland)

ACCOUNTANTS:

Reid & Fraser

Chartered Accountants

15 Princes Street

Thurso

Caithness

KW14 7BQ

SOLICITORS:

Young, Robertson & Co

29 Traill Street

Thurso

Caithness

KW14 8EG

FIXED ASSETS

Intangible assets

4

6,650

7,600

Tangible assets

5

292,967

289,562

299,617

297,162

CURRENT ASSETS

Stocks

160,000

175,000

Debtors

6

266,552

150,669

Cash at bank and in hand

282,671

375,494

709,223

701,163

CREDITORS

Amounts falling due within one year

7

(40,117

)

(34,032

)

NET CURRENT ASSETS

669,106

667,131

TOTAL ASSETS LESS CURRENT LIABILITIES

968,723

964,293

CREDITORS

Amounts falling due after more than one year

8

(15,333

)

(23,111

)

PROVISIONS FOR LIABILITIES

(2,846

)

(3,341

)

ACCRUALS AND DEFERRED INCOME

(3,996

)

(4,440

)

NET ASSETS

946,548

933,401

CAPITAL AND RESERVES

Called up share capital

6,011

6,011

Retained earnings

940,537

927,390

SHAREHOLDERS' FUNDS

946,548

933,401

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 29 September 2025 and were signed by:

Mr W D Mowat - Director

1.	STATUTORY INFORMATION

John O'Groats Crafts 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 comprises the value of goods and services supplied by the company, net of value added tax.

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.

Development costs are being amortised evenly over their estimated useful life of ten years.

FIXED ASSETS AND DEPRECIATION

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

Plant and machinery

8% straight line

Motor vehicles

25% reducing balance

No depreciation is charged on freehold property. It is the company's policy to maintain freehold property in such a condition that the value is not impaired by the passage of time.

STOCKS

Stocks 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.

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.

GOVERNMENT GRANTS

Government grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the relevant assets by annual instalments.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2023 - 19 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2024

and 31 December 2024

9,500

AMORTISATION

At 1 January 2024

1,900

Charge for year

950

At 31 December 2024

2,850

NET BOOK VALUE

At 31 December 2024

6,650

At 31 December 2023

7,600

5.	TANGIBLE FIXED ASSETS

Freehold

Plant and

Motor

property

machinery

vehicles

Totals

£

£

£

£

COST

At 1 January 2024

271,978

38,474

8,575

319,027

Additions

6,011

-

-

6,011

At 31 December 2024

277,989

38,474

8,575

325,038

DEPRECIATION

At 1 January 2024

-

21,372

8,093

29,465

Charge for year

-

2,485

121

2,606

At 31 December 2024

-

23,857

8,214

32,071

NET BOOK VALUE

At 31 December 2024

277,989

14,617

361

292,967

At 31 December 2023

271,978

17,102

482

289,562

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Other debtors

266,552

150,669

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

7,778

7,778

Trade creditors

6,348

10,904

Other creditors

25,991

15,350

40,117

34,032

Other creditors include £18,276 (2023 - £6,370) in respect of tax and social security.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

15,333

23,111

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

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

2024

2023

£

£

Mr W Mowat

Balance outstanding at start of year

54,152

54,152

Amounts advanced

2,755

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

56,907

54,152