Richard Aitken (Seedsmen) Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: SC061995 (Scotland)

Financial Statements For The Year Ended 31 December 2022

for

Richard Aitken (Seedsmen) Limited

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

R M Aitken

R F Aitken

C D Aitken

SECRETARY:

Mrs D Aitken

REGISTERED OFFICE:

20 Robert Drive

Govan

Glasgow

G51 3HE

REGISTERED NUMBER:

SC061995 (Scotland)

ACCOUNTANTS:

Robb Ferguson Chartered Accountants

Regent Court

70 West Regent Street

Glasgow

G2 2QZ

FIXED ASSETS

Tangible assets

4

981,704

983,176

Investments

5

188,886

80,763

1,170,590

1,063,939

CURRENT ASSETS

Stocks

482,795

320,163

Debtors

606,964

539,544

Cash at bank

1,490,079

1,595,395

2,579,838

2,455,102

CREDITORS

Amounts falling due within one year

918,026

761,182

NET CURRENT ASSETS

1,661,812

1,693,920

TOTAL ASSETS LESS CURRENT LIABILITIES

2,832,402

2,757,859

PROVISIONS FOR LIABILITIES

-

2,965

NET ASSETS

2,832,402

2,754,894

CAPITAL AND RESERVES

Called up share capital

25,000

25,000

Share premium

11,000

11,000

Retained earnings

2,796,402

2,718,894

2,832,402

2,754,894

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Statement of Financial Position for the year ended 31 December 2022 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 Board of Directors and authorised for issue on 8 September 2023 and were signed on its behalf by:

R M Aitken - Director

1.	STATUTORY INFORMATION

Richard Aitken (Seedsmen) 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 as modified by the revaluation of certain assets.

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

Freehold property

-

2% on cost

Fixtures and fittings

-

30% on reducing balance

Motor vehicles

-

25% on cost and 20% 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

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.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

Investments

Investments held as fixed assets are included at fair value. Movements in fair value are recognised in profit or loss.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2021 - 22 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2022

1,748,052

Additions

121,692

Disposals

(92,053

)

At 31 December 2022

1,777,691

DEPRECIATION

At 1 January 2022

764,876

Charge for year

119,705

Eliminated on disposal

(88,594

)

At 31 December 2022

795,987

NET BOOK VALUE

At 31 December 2022

981,704

At 31 December 2021

983,176

5.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST OR VALUATION

At 1 January 2022

80,763

Additions

119,999

Revaluations

(11,876

)

At 31 December 2022

188,886

NET BOOK VALUE

At 31 December 2022

188,886

At 31 December 2021

80,763

Cost or valuation at 31 December 2022 is represented by:

Totals

£

Valuation in 2022

188,886