John Bell Fabrics Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC028803 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 March 2022

for

John Bell Fabrics Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A R M Galbraith

B W Lang

G Galbraith

A D M Galbraith

SECRETARY:

B W Lang

REGISTERED OFFICE:

Old Station Yard

Symington

Biggar

Lanarkshire

ML12 6LQ

REGISTERED NUMBER:

SC028803 (Scotland)

ACCOUNTANTS:

MRA Business Services Limited

Chartered Accountants

2 & 6 Wellgatehead

Lanark

Lanarkshire

ML11 9AA

FIXED ASSETS

Tangible assets

4

406,446

350,394

Investments

5

30,000

30,000

436,446

380,394

CURRENT ASSETS

Stocks

10,282

9,102

Debtors

6

356,293

368,629

Cash at bank

14,690

298

381,265

378,029

CREDITORS

Amounts falling due within one year

7

66,547

62,720

NET CURRENT ASSETS

314,718

315,309

TOTAL ASSETS LESS CURRENT LIABILITIES

751,164

695,703

CREDITORS

Amounts falling due after more than one year

8

96,842

74,667

NET ASSETS

654,322

621,036

CAPITAL AND RESERVES

Called up share capital

54,760

54,760

Retained earnings

599,562

566,276

SHAREHOLDERS' FUNDS

654,322

621,036

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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 24 December 2022 and were signed on its behalf by:

B W Lang - Director

1.	STATUTORY INFORMATION

John Bell Fabrics 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Significant judgements and estimates

In preparing these financial statements, management have not been required to make significant judgements or estimates outwith the stated accounting policies.

Turnover

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

Tangible fixed assets

Depreciation has been provided on plant and machinery in the year ended 31 March 2022 at a rate of 2.5% on cost on a straight line basis. In the previous year ended 31 March 2021 no depreciation was provided as production levels were relatively low due to the impact of Covid so wear and tear on plant in that year was minimal.

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

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

Deferred taxation

Deferred tax is not recognised.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company operates a defined contribution scheme and work place pensions. Contributions payable to the company's pension schemes are charged to the profit and loss account in the period to which they relate.

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

Group accounts

The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. In addition the company is a wholly owned subsidiary within a small-sized group. The company has therefore taken advantage of the exemptions provided by section 398 of the Companies Act 2006 not to prepare group accounts.

Turnover

The total turnover of the company for the year has been derived from its principal activity wholly undertaken in the United Kingdom.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2021 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2021

1,911,882

Additions

81,889

At 31 March 2022

1,993,771

DEPRECIATION

At 1 April 2021

1,561,488

Charge for year

25,837

At 31 March 2022

1,587,325

NET BOOK VALUE

At 31 March 2022

406,446

At 31 March 2021

350,394

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2021

and 31 March 2022

30,000

NET BOOK VALUE

At 31 March 2022

30,000

At 31 March 2021

30,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Amounts owed by group undertakings

352,845

365,454

Other debtors

3,448

3,175

356,293

368,629

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Bank loans and overdrafts

10,000

8,333

Hire purchase contracts

29,100

31,200

Trade creditors

8,225

4,488

Taxation and social security

16,610

18,699

Other creditors

2,612

-

66,547

62,720

Any bank overdraft is secured by a bond and floating charge and by inter-company guarantees from the following group companies :

Calzeat & Company Limited, Peter Macarthur and Company Limited, Calzeat Scotland Ltd, Thistle Mills Scotland Limited, Calzeat Retail Ltd.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.22

31.3.21

£

£

Bank loans

31,667

41,667

Hire purchase contracts

65,175

33,000

96,842

74,667

9.	RELATED PARTY DISCLOSURES

During the year, the company generated sales amounting to £285,872 (2021 - £173,886) to Calzeat and Company Limited, the company's ultimate parent company and £12,435 (2021 - £9,797) to Peter Macarthur and Company Limited, a fellow subsidiary. Debtors include amounts of £nil (2021 - £nil) payable from Calzeat and Company Limited and £nil (2021 - £nil) due from Peter Macarthur and Company Limited.

10.	ULTIMATE CONTROLLING PARTY

The ultimate parent company is Calzeat and Company Limited, a company registered in Scotland. The ultimate controlling party is A R M Galbraith, a director and shareholder of this company and of Calzeat and Company Limited.