REGISTERED NUMBER: SC415766 (Scotland)

Porteous Funeral Directors Midlothian

Limited

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

Midlothian

EH14 5DA

REGISTERED NUMBER:

SC415766 (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

35,666

26,771

CURRENT ASSETS

Debtors

5

155,116

143,157

Cash at bank and in hand

92,926

98,849

248,042

242,006

CREDITORS

Amounts falling due within one year

6

33,080

33,092

NET CURRENT ASSETS

214,962

208,914

TOTAL ASSETS LESS CURRENT LIABILITIES

250,628

235,685

CREDITORS

Amounts falling due after more than one year

7

(25,597

)

(34,875

)

PROVISIONS FOR LIABILITIES

(5,367

)

-

NET ASSETS

219,664

200,810

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

219,564

200,710

SHAREHOLDERS' FUNDS

219,664

200,810

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

Porteous Funeral Directors Midlothian 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 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 and 10% on cost

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 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 2 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

50,090

Additions

18,002

At 31 December 2024

68,092

DEPRECIATION

At 1 January 2024

23,319

Charge for year

9,107

At 31 December 2024

32,426

NET BOOK VALUE

At 31 December 2024

35,666

At 31 December 2023

26,771

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

22,775

Additions

13,499

At 31 December 2024

36,274

DEPRECIATION

At 1 January 2024

3,644

Charge for year

6,143

At 31 December 2024

9,787

NET BOOK VALUE

At 31 December 2024

26,487

At 31 December 2023

19,131

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

16,377

4,946

Other debtors

138,739

138,211

155,116

143,157

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

9,873

9,750

Hire purchase contracts (see note 8)

5,060

2,394

Trade creditors

12,027

15,412

Taxation and social security

1,010

790

Other creditors

5,110

4,746

33,080

33,092

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

10,696

20,691

Hire purchase contracts (see note 8)

14,901

14,184

25,597

34,875

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2024

2023

£

£

Net obligations repayable:

Within one year

5,060

2,394

Between one and five years

14,901

14,184

19,961

16,578

Non-cancellable

operating leases

2024

2023

£

£

Within one year

11,000

12,440

Between one and five years

30,594

41,594

41,594

54,034