Mark Porteous Funeral Directors Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: SC289778 (Scotland)

Mark Porteous Funeral Directors Ltd

Unaudited Financial Statements

for the Year Ended 31 December 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr M A Porteous

Mrs Y Porteous

REGISTERED OFFICE:

589 Lanark Road

Juniper Green

Edinburgh

EH14 5DA

REGISTERED NUMBER:

SC289778 (Scotland)

ACCOUNTANTS:

Whitelaw Wells

9 Ainslie Place

Edinburgh

Midlothian

EH3 6AT

BANKERS:

National Westminister Bank Plc

8 George Street

Edinburgh

EH2 2SB

FIXED ASSETS

Tangible assets

4

284,890

344,387

Investments

5

87,700

372,590

432,087

CURRENT ASSETS

Stocks

48,152

Debtors

6

141,584

206,409

Cash at bank and in hand

383,353

422,872

573,089

677,433

CREDITORS

Amounts falling due within one year

7

447,041

514,285

NET CURRENT ASSETS

126,048

163,148

TOTAL ASSETS LESS CURRENT LIABILITIES

498,638

595,235

CREDITORS

Amounts falling due after more than one
year

8

(83,716

)

(146,204

)

PROVISIONS FOR LIABILITIES

(33,986

)

(70,905

)

NET ASSETS

380,936

378,126

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

380,836

378,026

SHAREHOLDERS' FUNDS

380,936

378,126

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 12 December 2025 and were signed on its behalf by:

Mr M A Porteous - Director

1.	STATUTORY INFORMATION

Mark Porteous Funeral Directors 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.

Turnover and revenue recognition

Turnover represents the total value, excluding value added tax, of sales made during the year and derives from the provision of services falling within the company's ordinary activities. Revenue is recognised when the service is provided.

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.

Plant and machinery etc

-

25% on cost, 15% on cost and over lease term

No depreciation is provided on land and buildings as in the opinion of the directors, the length of their estimated useful economic life and estimated residual value is at least equal to the book value. Having regard to this, it is considered that the depreciation of any such property would not be material. Costs of repairs and maintenance are charged to revenue as incurred.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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 instruments comprise financial assets and financial liabilities which are recognised when the company becomes a party to the contractual provisions of the instrument. Financial instruments are classified as "basic" in accordance with FRS102 and are accounted for at amortised cost using the effective interest method. The effective interest rate is the rate that exactly discounts estimated future cash flows over the life of the financial assets or liability to the net carrying amount on initial recognition. Discounting is not applied to short-term receivables and payables, where the effect is immaterial.

Financial assets at cost comprise cash, trade debtors and other debtors. Financial liabilities comprise bank loans, trade creditors, accruals and other creditors.

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.

Provisions

Provisions are recognised where the company has a present obligation as a result of a past event, it is probable the company will be required to settle the obligations, and a reliable estimate can be made of the obligations. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 12 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

COST

At 1 January 2024

116,241

646,479

762,720

Additions

-

48,161

Disposals

-

(24,695

)

(24,695

)

At 31 December 2024

116,241

669,945

786,186

DEPRECIATION

At 1 January 2024

-

418,333

Charge for year

-

107,658

Eliminated on disposal

-

(24,695

)

(24,695

)

At 31 December 2024

-

501,296

NET BOOK VALUE

At 31 December 2024

116,241

168,649

284,890

At 31 December 2023

116,241

228,146

344,387

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

332,310

Disposals

(24,695

)

At 31 December 2024

307,615

DEPRECIATION

At 1 January 2024

243,679

Charge for year

73,144

Eliminated on disposal

(24,695

)

At 31 December 2024

292,128

NET BOOK VALUE

At 31 December 2024

15,487

At 31 December 2023

88,631

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2024

and 31 December 2024

87,700

NET BOOK VALUE

At 31 December 2024

87,700

At 31 December 2023

87,700

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

16,377

80,733

Other debtors

125,207

125,676

141,584

206,409

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Bank loans and overdrafts

19,474

28,947

Hire purchase contracts (see note 9)

42,911

Trade creditors

78,707

100,090

Taxation and social security

89,393

129,985

Other creditors

216,556

212,352

447,041

514,285

Included within other creditors is a loan from the directors. This loan is unsecured, interest-free and repayable on demand.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

Bank loans

6,508

26,085

Hire purchase contracts (see note 9)

72,208

115,119

Other creditors

5,000

83,716

146,204

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2024

2023

£

Net obligations repayable:

Within one year

42,911

Between one and five years

72,208

115,119

158,030

Non-cancellable

operating leases

2024

2023

£

Within one year

127,701

109,883

Between one and five years

320,186

297,586

In more than five years

200,286

123,418

648,173

530,887

10.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

Bank loans

25,982

55,032

The bank loan is secured over the director's personal assets together with a personal guarantee from the director.

National Westminster Bank Plc also holds a bond and floating charge for all sums due or to become due on all property and assets present and future of the company including uncalled capital.