REGISTERED NUMBER: SC338895 (Scotland)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

JAMES BORTHWICK LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D Borthwick

D J Gray

V Dascora

E Dascors

REGISTERED OFFICE:

6 Craigleith Road

Edinburgh

Lothian

EH4 2DP

REGISTERED NUMBER:

SC338895 (Scotland)

ACCOUNTANTS:

Mitchell Edwards

Chartered Certified Accountants

24A Ainslie Place

Edinburgh

EH3 6AJ

BANKERS:

Bank of Scotland

43 Comely Bank

Edinburgh

EH4 1AF

FIXED ASSETS

Intangible assets

4

41,250

55,000

Tangible assets

5

14,714

212,673

55,964

267,673

CURRENT ASSETS

Stocks

6

33,102

28,173

Debtors

7

38,075

31,925

Cash at bank and in hand

41,206

14,403

112,383

74,501

CREDITORS

Amounts falling due within one year

8

58,346

260,127

NET CURRENT ASSETS/(LIABILITIES)

54,037

(185,626

)

TOTAL ASSETS LESS CURRENT LIABILITIES

110,001

82,047

PROVISIONS FOR LIABILITIES

719

1,224

NET ASSETS

109,282

80,823

CAPITAL AND RESERVES

Called up share capital

100

100

Fair value reserve

-

55,000

Retained earnings

109,182

25,723

SHAREHOLDERS' FUNDS

109,282

80,823

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 28 November 2025 and were signed on its behalf by:

D Borthwick - Director

D J Gray - Director

1.	STATUTORY INFORMATION

James Borthwick 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 financial statements are presented in sterling which is the functional currency of the company rounded to the nearest £.

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 as modified by the revaluation of certain assets.

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

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortized evenly over its estimated useful life of twenty years as determined by the directors.

Tangible fixed assets

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

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on cost

Building were being depreciated at 4% on cost before disposal in year.

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 material 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2024 - 14 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

275,000

AMORTISATION

At 1 April 2024

220,000

Amortisation for year

13,750

At 31 March 2025

233,750

NET BOOK VALUE

At 31 March 2025

41,250

At 31 March 2024

55,000

5.	TANGIBLE FIXED ASSETS

Fixtures

Heritable

and

Motor

property

fittings

vehicles

Totals

£

£

£

£

COST OR VALUATION

At 1 April 2024

232,645

42,950

1,900

277,495

Additions

-

-

3,400

3,400

Disposals

(232,645

)

-

-

(232,645

)

At 31 March 2025

-

42,950

5,300

48,250

DEPRECIATION

At 1 April 2024

35,177

27,745

1,900

64,822

Charge for year

-

3,041

850

3,891

Eliminated on disposal

(35,177

)

-

-

(35,177

)

At 31 March 2025

-

30,786

2,750

33,536

NET BOOK VALUE

At 31 March 2025

-

12,164

2,550

14,714

At 31 March 2024

197,468

15,205

-

212,673

Cost or valuation at 31 March 2025 is represented by:

Fixtures

Heritable

and

Motor

property

fittings

vehicles

Totals

£

£

£

£

Valuation in 2021

35,000

-

-

35,000

Valuation in 2024

20,000

-

-

20,000

Valuation in 2025

(55,000

)

-

-

(55,000

)

Cost

-

42,950

5,300

48,250

-

42,950

5,300

48,250

6.

STOCKS

2025

2024

£

£

Stocks

33,102

28,173

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

32,325

28,656

Other debtors

5,750

3,269

38,075

31,925

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

35,993

34,702

Taxation and social security

3,558

666

Other creditors

18,795

224,759

58,346

260,127

9.	LEASING AGREEMENTS

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

2025

2024

£

£

Within one year

18,000

-

Between one and five years

90,000

-

In more than five years

65,200

-

173,200

-

10.	RELATED PARTY DISCLOSURES

The company leases it's premises from a director at an annual rent of £18,000, expiring November 2034. The lease is on normal commercial terms and there was no balance outstanding at the year end.