S R & E Barron (Dyce) Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: SC192831 (Scotland)

Unaudited Financial Statements for the Year Ended 31 March 2023

for

S R & E BARRON (DYCE) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr S C Barron

Mrs S M Paterson

REGISTERED OFFICE:

119 Victoria Street

Dyce

Aberdeen

AB21 7BJ

REGISTERED NUMBER:

SC192831 (Scotland)

ACCOUNTANTS:

Fyfe Moir & Associates

1st Floor, 5 Abercrombie Crt

Prospect Road,

Westhill

Aberdeenshire

Grampian

AB32 6FE

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

753,033

752,809

Investment property

6

605,000

605,000

1,358,033

1,357,809

CURRENT ASSETS

Stocks

458,978

445,826

Debtors

7

4,057

153,859

Cash at bank and in hand

43,067

42,095

506,102

641,780

CREDITORS

Amounts falling due within one year

8

188,957

253,229

NET CURRENT ASSETS

317,145

388,551

TOTAL ASSETS LESS CURRENT LIABILITIES

1,675,178

1,746,360

CREDITORS

Amounts falling due after more than one year

9

(19,541

)

(27,133

)

PROVISIONS FOR LIABILITIES

11

(11,166

)

(9,649

)

NET ASSETS

1,644,471

1,709,578

CAPITAL AND RESERVES

Called up share capital

12

203

203

Share premium

13

529,998

529,998

Revaluation reserve

13

441,485

441,485

Retained earnings

13

672,785

737,892

SHAREHOLDERS' FUNDS

1,644,471

1,709,578

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 23 August 2023 and were signed on its behalf by:

Mr S C Barron - Director

1.	STATUTORY INFORMATION

S R & E Barron (Dyce) 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

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 1999, is being amortised evenly over its estimated useful life of ten 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.

Freehold property

-

2% on cost

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

15% on reducing balance

Computer equipment

-

33% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 15 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2022

and 31 March 2023

324,490

AMORTISATION

At 1 April 2022

and 31 March 2023

324,490

NET BOOK VALUE

At 31 March 2023

-

At 31 March 2022

-

5.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

property

property

machinery

£

£

£

COST

At 1 April 2022

788,370

13,264

191,548

Additions

-

-

-

Disposals

-

-

-

At 31 March 2023

788,370

13,264

191,548

DEPRECIATION

At 1 April 2022

97,500

2,107

162,049

Charge for year

7,500

265

4,425

Eliminated on disposal

-

-

-

At 31 March 2023

105,000

2,372

166,474

NET BOOK VALUE

At 31 March 2023

683,370

10,892

25,074

At 31 March 2022

690,870

11,157

29,499

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 April 2022

24,600

18,139

1,035,921

Additions

32,900

291

33,191

Disposals

(24,600

)

-

(24,600

)

At 31 March 2023

32,900

18,430

1,044,512

DEPRECIATION

At 1 April 2022

4,213

17,243

283,112

Charge for year

3,058

390

15,638

Eliminated on disposal

(7,271

)

-

(7,271

)

At 31 March 2023

-

17,633

291,479

NET BOOK VALUE

At 31 March 2023

32,900

797

753,033

At 31 March 2022

20,387

896

752,809

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2022

and 31 March 2023

605,000

NET BOOK VALUE

At 31 March 2023

605,000

At 31 March 2022

605,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Trade debtors

2,978

6,855

Prepayments and accrued income

-

146,011

Prepayments

1,079

993

4,057

153,859

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Bank loans and overdrafts (see note 10)

46,453

55,605

Trade creditors

62,842

66,247

Tax

-

30,394

Social security and other taxes

2,758

6,208

VAT

4,886

19,894

Other creditors

2,112

3,374

Loan

10,255

10,255

Directors' current accounts

55,412

57,021

Accruals and deferred income

4,239

4,231

188,957

253,229

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.23

31.3.22

£

£

Bank loans (see note 10)

19,541

27,133

10.

LOANS

An analysis of the maturity of loans is given below:

31.3.23

31.3.22

£

£

Amounts falling due within one year or on demand:

Bank loans

46,453

55,605

Amounts falling due between two and five years:

Bank loans - 2-5 years

19,541

27,133

11.	PROVISIONS FOR LIABILITIES

31.3.23

31.3.22

£

£

Deferred tax

11,166

9,649

Deferred

tax

£

Balance at 1 April 2022

9,649

Accelerated capital allowances

1,517

Balance at 31 March 2023

11,166

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.23

31.3.22

value:

£

£

200

Ordinary A

£1

200

200

2

Ordinary B

£1

2

2

1

Ordinary C

£1

1

1

203

203

The 10,000 'B' non-voting shares of £1 each and the 10,000 'C' non-voting shares of £1each shall not carry any right, or be entitled to receive notice of, or attend, or vote at any general meeting of the company, or any meeting in respect of a resolution regarding the winding up of the company, but in all other respects the existing ordinary shares and the non-voting shares shall rank pari passu.

13.

RESERVES

Retained

Share

Revaluation

earnings

premium

reserve

Totals

£

£

£

£

At 1 April 2022

737,892

529,998

441,485

1,709,375

Deficit for the year

(45,107

)

(45,107

)

Dividends

(20,000

)

(20,000

)

At 31 March 2023

672,785

529,998

441,485

1,644,268