REGISTERED NUMBER: SC481013 (Scotland)

Unaudited Financial Statements for the Year Ended 31 July 2025

for

J&K Richardson Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J S Richardson

Mrs K J Richardson

REGISTERED OFFICE:

1 Hazel Gardens

Dundee

DD2 1UF

REGISTERED NUMBER:

SC481013 (Scotland)

ACCOUNTANTS:

HMR Consulting Limited

Kirk Farm Cottage

Lundie

Dundee

Angus

DD2 5NW

FIXED ASSETS

Intangible assets

4

908,560

930,720

Tangible assets

5

117,959

126,876

1,026,519

1,057,596

CURRENT ASSETS

Stocks

71,713

75,598

Debtors

6

295,959

250,133

Cash at bank and in hand

102

264

367,774

325,995

CREDITORS

Amounts falling due within one year

7

548,165

540,410

NET CURRENT LIABILITIES

(180,391

)

(214,415

)

TOTAL ASSETS LESS CURRENT LIABILITIES

846,128

843,181

CREDITORS

Amounts falling due after more than one year

8

(130,808

)

(151,430

)

PROVISIONS FOR LIABILITIES

(7,940

)

(8,146

)

NET ASSETS

707,380

683,605

CAPITAL AND RESERVES

Called up share capital

2,395

2,395

Share premium

99,205

99,205

Retained earnings

605,780

582,005

SHAREHOLDERS' FUNDS

707,380

683,605

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 21 April 2026 and were signed on its behalf by:

J S Richardson - Director

1.	STATUTORY INFORMATION

J&K Richardson 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 and going concern

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.

The financial statements are prepared in sterling which is the functional currency of the Company.

At the time of approving the financial statements, the directors have a reasonable expectation that the Company has adequate resources to continue operating for the foreseeable future. The directors therefore continue to adopt the going concern basis of accounting in the preparation of the financial statements.

Turnover

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Consideration is given to the point at which the Company is entitled to receive the income, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Revenue from the provision of services is recognised in the period in which the services are provided when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;

- it is probable that the company will receive the consideration due; and

- the costs incurred can be measured reliably.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of fifty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Land and buildings

-

2% on cost

Plant and machinery etc

-

25% on reducing balance, 20% on cost and 15% on reducing balance

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

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

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.

Operating 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.

Borrowing costs

All borrowing costs are recognised in the Profit and Loss account in the year in which they are incurred.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2024 - 16 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 August 2024

and 31 July 2025

1,108,000

AMORTISATION

At 1 August 2024

177,280

Charge for year

22,160

At 31 July 2025

199,440

NET BOOK VALUE

At 31 July 2025

908,560

At 31 July 2024

930,720

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 August 2024

and 31 July 2025

100,000

181,573

281,573

DEPRECIATION

At 1 August 2024

16,000

138,697

154,697

Charge for year

2,000

6,917

8,917

At 31 July 2025

18,000

145,614

163,614

NET BOOK VALUE

At 31 July 2025

82,000

35,959

117,959

At 31 July 2024

84,000

42,876

126,876

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.25

31.7.24

£

£

Trade debtors

220,514

188,050

Other debtors

75,445

62,083

295,959

250,133

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.25

31.7.24

£

£

Bank loans and overdrafts

43,501

43,139

Trade creditors

146,507

158,355

Taxation and social security

15,302

10,621

Other creditors

342,855

328,295

548,165

540,410

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.7.25

31.7.24

£

£

Bank loans

130,808

151,430

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

61,044

75,598

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.7.25

31.7.24

£

£

Bank overdrafts

17,322

15,979

Bank loans

156,987

178,590

174,309

194,569

RBS advanced a loan of £50,000 in May 2020 under the Coronavirus Business Interruption Loan Scheme. The term of the loan is 6 years with interest charged at 2.5%. In the first year there were no capital repayments and the interest was covered by the Government.

RBS advanced a loan of £166,000 to the company in January 2024. The term of the loan is 10 years and interest is applied quarterly at 3.85% p.a.over Base Rate. The loan is secured by a Bond and Floating Charge, a 1st Standard Security over the company's premises at 181-183 Blackness Road, Dundee and a guarantee of £236,000 from the directors.