James Bain & Co Ltd - Accounts to registrar (filleted) - small 18.2

James Bain & Co Ltd - Accounts to registrar (filleted) - small 18.2

JAMES BAIN & CO. LTD. - Company Information

Print Friendly Version

IRIS Accounts Production v21.4.0.171 SC202110 director 1.4.20 31.3.21 31.3.21 0 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureSC2021102020-03-31SC2021102021-03-31SC2021102020-04-012021-03-31SC2021102019-03-31SC2021102019-04-012020-03-31SC2021102020-03-31SC202110ns16:Scotland2020-04-012021-03-31SC202110ns15:PoundSterling2020-04-012021-03-31SC202110ns11:Director12020-04-012021-03-31SC202110ns11:PrivateLimitedCompanyLtd2020-04-012021-03-31SC202110ns11:SmallEntities2020-04-012021-03-31SC202110ns11:AuditExempt-NoAccountantsReport2020-04-012021-03-31SC202110ns11:SmallCompaniesRegimeForDirectorsReport2020-04-012021-03-31SC202110ns11:SmallCompaniesRegimeForAccounts2020-04-012021-03-31SC202110ns11:AbridgedAccounts2020-04-012021-03-31SC20211012020-04-012021-03-31SC202110ns11:CompanySecretary12020-04-012021-03-31SC202110ns11:RegisteredOffice2020-04-012021-03-31SC202110ns6:CurrentFinancialInstruments2021-03-31SC202110ns6:CurrentFinancialInstruments2020-03-31SC202110ns6:Non-currentFinancialInstruments2021-03-31SC202110ns6:Non-currentFinancialInstruments2020-03-31SC202110ns6:ShareCapital2021-03-31SC202110ns6:ShareCapital2020-03-31SC202110ns6:RetainedEarningsAccumulatedLosses2021-03-31SC202110ns6:RetainedEarningsAccumulatedLosses2020-03-31SC202110ns6:NetGoodwill2020-04-012021-03-31SC202110ns6:IntangibleAssetsOtherThanGoodwill2020-04-012021-03-31
REGISTERED NUMBER: SC202110 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2021

FOR

JAMES BAIN & CO LTD
JAMES BAIN & CO LTD (REGISTERED NUMBER: SC202110)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2021




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


JAMES BAIN & CO LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2021







DIRECTOR: J Bain





SECRETARY:





REGISTERED OFFICE: 16 Melville Terrace
Stirling
Central
FK8 2NE





REGISTERED NUMBER: SC202110 (Scotland)





ACCOUNTANTS: James Bain & Co Ltd
16 Melville Terrace
Stirling
FK8 2NE
Page 1
JAMES BAIN & CO LTD (REGISTERED NUMBER: SC202110)

ABRIDGED BALANCE SHEET
31ST MARCH 2021

31/3/21 31/3/20
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 90,000 90,000
Tangible assets 5 23,637 21,196
113,637 111,196

CURRENT ASSETS
Stocks 12,469 17,719
Debtors 86,621 70,770
Cash at bank 15,786 -
114,876 88,489
CREDITORS
Amounts falling due within one year 71,894 93,560
NET CURRENT ASSETS/(LIABILITIES) 42,982 (5,071 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
156,619
106,125

CREDITORS
Amounts falling due after more than one
year
41,667
-
NET ASSETS 114,952 106,125

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 114,852 106,025
SHAREHOLDERS' FUNDS 114,952 106,125

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 notes form part of these financial statements

Page 2 continued...
JAMES BAIN & CO LTD (REGISTERED NUMBER: SC202110)

ABRIDGED BALANCE SHEET - continued
31ST MARCH 2021


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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31st March 2021 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 20th November 2021 and were signed by:





J Bain - Director


The notes form part of these financial statements

Page 3
JAMES BAIN & CO LTD (REGISTERED NUMBER: SC202110)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2021

1. STATUTORY INFORMATION

James Bain & Co 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
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil 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.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Page 4 continued...
JAMES BAIN & CO LTD (REGISTERED NUMBER: SC202110)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2021

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - 7 ).

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st April 2020
and 31st March 2021 100,000
AMORTISATION
At 1st April 2020
and 31st March 2021 10,000
NET BOOK VALUE

At 31st March 2021 90,000
At 31st March 2020 90,000

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st April 2020 82,428
Additions 7,494
At 31st March 2021 89,922
DEPRECIATION
At 1st April 2020 61,232
Charge for year 5,053
At 31st March 2021 66,285
NET BOOK VALUE
At 31st March 2021 23,637
At 31st March 2020 21,196

Page 5