ACCOUNTS - Final Accounts

Registered number: SC069602

JOHN KERR & SON (DAIRYMEN) LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

JOHN KERR & SON (DAIRYMEN) LIMITED

COMPANY INFORMATION

Directors	Mr J K Kerr
	Mrs A Kerr
	Mr J K Kerr Jnr
	Mr R Kerr


Company secretary	Mrs A Kerr


Registered number	SC069602


Registered office	2 Ash Street
	Dundee
	DD1 5AR


Accountants	EQ Accountants Limited
	Chartered Accountants
	14 City Quay
	Dundee
	DD1 3JA

JOHN KERR & SON (DAIRYMEN) LIMITED

REGISTERED NUMBER: SC069602

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2025

		2025		2024
		£		£

Fixed assets
Intangible assets	4		393,958		465,659
Tangible assets	5		1,303,073		1,343,839
			1,697,031		1,809,498
Current assets
Stocks		46,889		39,430
Debtors: amounts falling due within one year	6	1,695,654		1,464,758
Cash at bank and in hand		971,229		1,222,304
		2,713,772		2,726,492
Creditors: amounts falling due within one year	7	(1,391,642)		(1,417,601)
Net current assets			1,322,130		1,308,891
Total assets less current liabilities			3,019,161		3,118,389
Creditors: amounts falling due after more than one year	8		(551,351)		(644,501)
Provisions for liabilities
Deferred tax		(212,449)		(291,087)
			(212,449)		(291,087)
Net assets			2,255,361		2,182,801

Capital and reserves
Called up share capital	9		104		104
Profit and loss account			2,255,257		2,182,697
			2,255,361		2,182,801

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JOHN KERR & SON (DAIRYMEN) LIMITED

REGISTERED NUMBER: SC069602

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 MARCH 2025

The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 9 December 2025.

Mr J K Kerr

Director

The notes on pages 3 to 10 form part of these financial statements.

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JOHN KERR & SON (DAIRYMEN) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.	General information

John Kerr & Son (Dairymen) Limited is a private company, limited by shares, domiciled in Scotland with registration number SC069602. The registered office is 2 Ash Street, Dundee, Scotland, DD1 5AR.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of turnover can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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JOHN KERR & SON (DAIRYMEN) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.

Depreciation is provided on the following basis:

				Freehold property	-	2% - 4% straight line
				Long-term leasehold property	-	10% straight line
				Plant and machinery	-	20% reducing balance
				Motor vehicles	-	25% reducing balance
				Fixtures and fittings	-	10% reducing balance
				Office equipment	-	33% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.5

Operating leases: the Company as lessee

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

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 4

JOHN KERR & SON (DAIRYMEN) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.6

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

2.7

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.8

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.9

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.10

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Page 5

JOHN KERR & SON (DAIRYMEN) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.11

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Income and Retained Earnings over its useful economic life.

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Amortisation is provided on the following bases:

				Goodwill	-	15%	straight line
				Website and Brand Development	-	15%	straight line

3.

Employees

The average monthly number of employees, including directors, during the year was 75 (2024 - 66).

Page 6

JOHN KERR & SON (DAIRYMEN) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

4.	Intangible assets

		Goodwill
		£
	Cost
	At 1 April 2024	520,822
	Additions	1,400
	At 31 March 2025	522,222
	Amortisation
	At 1 April 2024	55,163
	Charge for the year on owned assets	73,101
	At 31 March 2025	128,264
	Net book value
	At 31 March 2025	393,958
	At 31 March 2024	465,659

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		JOHN KERR & SON (DAIRYMEN) LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

	5.	Tangible fixed assets

		Freehold property	Long-term leasehold property	Plant and machinery	Motor vehicles	Fixtures and fittings	Office equipment	Total
		£	£	£	£	£	£	£
	Cost or valuation
	At 1 April 2024	416,594	34,357	76,573	1,333,466	193,436	66,261	2,120,687
	Additions	-	1,438	123,177	167,500	-	2,702	294,817
	Disposals	-	-	-	(178,130)	-	-	(178,130)
	At 31 March 2025	416,594	35,795	199,750	1,322,836	193,436	68,963	2,237,374
	Depreciation
	At 1 April 2024	19,017	11,242	30,743	506,062	160,202	49,582	776,848
	Charge for the year on owned assets	9,616	3,459	17,397	209,453	3,323	11,993	255,241
	Disposals	-	-	-	(97,788)	-	-	(97,788)
	At 31 March 2025	28,633	14,701	48,140	617,727	163,525	61,575	934,301
	Net book value
	At 31 March 2025	387,961	21,094	151,610	705,109	29,911	7,388	1,303,073
	At 31 March 2024	397,577	23,115	45,830	827,404	33,234	16,679	1,343,839

Page 8

JOHN KERR & SON (DAIRYMEN) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

6.

Debtors

					2025	2024
					£	£


	Trade debtors	507,982	606,160
	Other debtors	1,065,582	770,887
	Prepayments and accrued income	122,090	87,711
		1,695,654	1,464,758

Included in other debtors, is an amount owed by the directors of £NIL (2024 £51,116). This loan is interest free and is repaid within 9 months of the year end.

7.	Creditors: Amounts falling due within one year
					2025	2024
					£	£

	Bank loans	19,527	19,285
	Trade creditors	572,940	575,145
	Other taxation and social security	202,045	255,476
	Obligations under finance lease and hire purchase contracts	239,333	261,517
	Other creditors	106,605	264,155
	Accruals and deferred income	251,192	42,023
		1,391,642	1,417,601

Secured loans
Net obligations under finance leases and hire purchase contracts are secured over the related assets.

8.	Creditors: Amounts falling due after more than one year
					2025	2024
					£	£

	Bank loans	243,322	263,230
	Net obligations under finance leases and hire purchase contracts	308,029	381,271
		551,351	644,501

Secured loans
Net obligations under finance leases and hire purchase contracts are secured over the related assets.

Page 9

JOHN KERR & SON (DAIRYMEN) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

9.	Share capital
					2025	2024
					£	£

		Allotted, called up and fully paid

		13 (2024 - 13) A Ordinary shares of £1.00 each	13	13
		13 (2024 - 13) B Ordinary shares of £1.00 each	13	13
		25 (2024 - 25) C Ordinary shares of £1.00 each	25	25
		25 (2024 - 25) D Ordinary shares of £1.00 each	25	25
		28 (2024 - 28) E Ordinary shares of £1.00 each	28	28

			104	104

10.	Commitments under operating leases
	At 31 March 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
					2025	2024
					£	£

	Not later than 1 year	3,384	3,384
	Later than 1 year and not later than 5 years	846	7,614
		4,230	10,998

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