Charles Buyers & Co. Ltd. - Accounts to registrar (filleted)

REGISTERED NUMBER: SC064226 (Scotland)

ABRIDGED UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

CHARLES BUYERS & CO. LTD.

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

Craig Brown

S D Brown

Mrs M F Brown

C S Buyers

Mrs L Martin

SECRETARY:

Mrs M F Brown

REGISTERED OFFICE:

Unit 37

Kyle Road Industrial Est

IRVINE

Ayrshire

KA12 8LE

REGISTERED NUMBER:

SC064226 (Scotland)

ACCOUNTANTS:

Gilmour Hamilton

Chartered Accountants

37 Portland Road

KILMARNOCK

Ayrshire

KA1 2DJ

FIXED ASSETS

Tangible assets

4

290,765

300,641

Investments

5

125,153

415,918

425,794

CURRENT ASSETS

Stocks

1,186,630

1,386,072

Debtors

205,482

206,797

Cash at bank and in hand

1,380,428

952,414

2,772,540

2,545,283

CREDITORS

Amounts falling due within one year

452,099

469,429

NET CURRENT ASSETS

2,320,441

2,075,854

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,736,359

2,501,648

PROVISIONS FOR LIABILITIES

4,014

4,476

NET ASSETS

2,732,345

2,497,172

CAPITAL AND RESERVES

Called up share capital

6

1,050

Retained earnings

2,731,295

2,496,122

SHAREHOLDERS' FUNDS

2,732,345

2,497,172

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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 31 July 2025 and were signed on its behalf by:

Craig Brown - Director

1.	STATUTORY INFORMATION

Charles Buyers & Co. 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.

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.

The financial statements are presented in pounds sterling which is the functional currency of the company, rounded to the nearest pound.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have been transferred to the buyer.

Tangible fixed assets

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

Land and buildings

- 4% on cost

Plant and machinery

- 20% on cost

Computer equipment

- 20% on cost

Government grants

Income from government grants is recognised in the period which the grant relates to.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less provision for any permanent diminution in value.

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 basis. 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 that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the income statement on a straight line basis over the period of the lease.

Employee benefits

When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

Financial instruments

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 income statement in other administrative expenses.

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 37 (2023 - 36 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2024

674,222

Additions

15,622

At 31 December 2024

689,844

DEPRECIATION

At 1 January 2024

373,581

Charge for year

25,498

At 31 December 2024

399,079

NET BOOK VALUE

At 31 December 2024

290,765

At 31 December 2023

300,641

5.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 January 2024

and 31 December 2024

125,153

NET BOOK VALUE

At 31 December 2024

125,153

At 31 December 2023

125,153

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

1,000

Ordinary

£1

1,000

50

Ordinary A

£1

50

1,050

7.	CONTROLLING PARTY

The controlling party is Charles Buyers Holdings Limited.

The directors of the parent company are considered to be the ultimate controlling party by virtue of their ability to act in concert in respect of the operational and financial policies of the company.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Charles Buyers & Co. Ltd. for the year ended 31 December 2024 which comprise the Abridged Income Statement, Abridged Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at https://icas.com/icas-framework-preparation-of-accounts.

This report is made solely to the Board of Directors of Charles Buyers & Co. Ltd., as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Charles Buyers & Co. Ltd. and state those matters that we have agreed to state to the Board of Directors of Charles Buyers & Co. Ltd., as a body, in this report in accordance with the requirements of ICAS as detailed at https://icas.com/icas-framework-preparation-of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Charles Buyers & Co. Ltd. has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Charles Buyers & Co. Ltd.. You consider that Charles Buyers & Co. Ltd. is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Charles Buyers & Co. Ltd.. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Gilmour Hamilton

Chartered Accountants

37 Portland Road

KILMARNOCK

Ayrshire

KA1 2DJ

31 July 2025