Paterson Boyd & Co Limited 31/03/2025 iXBRL

Company registration number: SC372152

Paterson Boyd & Co Limited

Unaudited filleted abridged financial statements

31 March 2025

Paterson Boyd & Co Limited

Contents

Directors and other information

Abridged statement of financial position

Notes to the financial statements

Paterson Boyd & Co Limited

Directors and other information


	Directors	N R L Paterson
		C R McCulloch
		C W Wallace
		V Crooks
		L B Johnston


	Company number	SC372152


	Registered office	18 North Street
		Glenrothes
		Fife
		KY7 5NA


	Accountants	Paterson Boyd & Co
		Chartered Certified Accountants
		8 Mitchell Street
		Leven
		Fife
		KY8 4HJ

Paterson Boyd & Co Limited

Abridged statement of financial position

31 March 2025

		2025		2024
	Note	£	£	£	£

Fixed assets
Intangible assets	5	-		-
Tangible assets	6	26,995		28,283
		_______		_______
			26,995		28,283

Current assets
Stocks		20,000		20,000
Debtors		295,927		379,621
Cash at bank and in hand		478,433		481,115
		_______		_______
		794,360		880,736
Creditors: amounts falling due
within one year		( 253,098)		( 291,600)
		_______		_______
Net current assets			541,262		589,136
			_______		_______
Total assets less current liabilities			568,257		617,419

Creditors: amounts falling due
after more than one year			( 60,508)		( 58,568)

Provisions for liabilities			( 6,836)		( 6,784)

			_______		_______
Net assets			500,913		552,067
			_______		_______

Capital and reserves
Called up share capital	7		9		9
Other reserves			3		3
Profit and loss account			500,901		552,055
			_______		_______
Shareholders funds			500,913		552,067
			_______		_______

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

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

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.

All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the current year ending 31 March 2025 in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements were approved by the board of directors and authorised for issue on 29 December 2025 , and are signed on behalf of the board by:

V Crooks L B Johnston

Director Director

C R McCulloch C W Wallace

Director Director

Company registration number: SC372152

Paterson Boyd & Co Limited

Notes to the financial statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is 18 North Street, Glenrothes, Fife, KY7 5NA.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets measured at fair value through profit or loss.The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 reporting date that are expected to apply to the reversal of the timing difference.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:


Goodwill	-	10 %	straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Short leasehold property	-	20 %	reducing balance
Fittings fixtures and equipment	-	20 %	reducing balance
Computer equipment	-	33 %	straight line

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Stocks

Work in progress is measured at the lower of cost and estimated selling price less costs to complete and sell.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at the carrying value plus accrued interest less repayments. The financing charge to expenditure is at a constant rate calculated using the effective interest method.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 33 (2024: 34 ).

5. Intangible assets


		£
	Cost
	At 1 April 2024 and 31 March 2025	322,623
		_______
	Amortisation
	At 1 April 2024 and 31 March 2025	322,623
		_______
	Carrying amount
	At 31 March 2025	-
		_______
	At 31 March 2024	-
		_______

6. Tangible assets


		£
	Cost
	At 1 April 2024	200,660
	Additions	11,818
		_______
	At 31 March 2025	212,478
		_______
	Depreciation
	At 1 April 2024	172,377
	Charge for the year	13,106
		_______
	At 31 March 2025	185,483
		_______
	Carrying amount
	At 31 March 2025	26,995
		_______
	At 31 March 2024	28,283
		_______

7. Called up share capital

Issued, called up and fully paid

	2025		2024
	No	£	No	£
Ordinary shares of £ 0.01 each	851	9	851	9
	_______	_______	_______	_______

8. Related party transactions

Included in "Other debtors" is an amount of £14,100 (2024: £4,100) due from PB Holdings (Fife) Limited. In addition, an amount of £23,078 (2024: £47,870) is due from PB Audit Limited, a company which has some common directors. These balances are interest free and have no fixed terms of repayment.

9. Controlling party

The company is a 100% subsidiary of PB Holdings (Fife) Limited. The registered office address of PB Holdings (Fife) Limited is 18-20 North Street, Glenrothes, KY7 5NA.