Ferguson St Vincent (Glasgow) Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: SC367794 (Scotland)

Unaudited Financial Statements for the Year Ended 31 March 2023

for

Ferguson St Vincent (Glasgow) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J L Ferguson

A J Ferguson

REGISTERED OFFICE:

103 St Vincent Street

Glasgow

G2 5EA

REGISTERED NUMBER:

SC367794 (Scotland)

ACCOUNTANTS:

Styles & Associates Limited

Berkeley House

Amery Street

Alton

Hampshire

GU34 1HN

FIXED ASSETS

Intangible assets

4

1,800

2,600

Tangible assets

5

66,565

74,569

68,365

77,169

CURRENT ASSETS

Stocks

6,070

5,433

Debtors

6

20,151

6,877

Cash at bank and in hand

102,982

178,165

129,203

190,475

CREDITORS

Amounts falling due within one year

7

100,218

154,501

NET CURRENT ASSETS

28,985

35,974

TOTAL ASSETS LESS CURRENT LIABILITIES

97,350

113,143

CREDITORS

Amounts falling due after more than one year

8

(37,920

)

(53,723

)

PROVISIONS FOR LIABILITIES

(16,349

)

(7,868

)

NET ASSETS

43,081

51,552

CAPITAL AND RESERVES

Called up share capital

10

2

2

Retained earnings

43,079

51,550

SHAREHOLDERS' FUNDS

43,081

51,552

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 21 December 2023 and were signed on its behalf by:

A J Ferguson - Director

1.	STATUTORY INFORMATION

Ferguson St Vincent (Glasgow) 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 (£).

Accounts are rounded to the nearest pound.

The accounts represent the company as an individual entity.

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 represents net invoiced sales of goods and services, excluding value added tax.

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.

Franchise Costs are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets

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

Improvements to property

-

10% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Computer equipment

-

33% on cost

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 21 (2022 - 18 ) .

4.	INTANGIBLE FIXED ASSETS

Franchise

Costs

£

COST

At 1 April 2022

and 31 March 2023

4,000

AMORTISATION

At 1 April 2022

1,400

Amortisation for year

800

At 31 March 2023

2,200

NET BOOK VALUE

At 31 March 2023

1,800

At 31 March 2022

2,600

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

Computer

property

fittings

equipment

Totals

£

£

£

£

COST

At 1 April 2022

67,225

24,033

1,378

92,636

Additions

-

1,560

475

2,035

At 31 March 2023

67,225

25,593

1,853

94,671

DEPRECIATION

At 1 April 2022

11,260

6,201

606

18,067

Charge for year

5,597

3,896

546

10,039

At 31 March 2023

16,857

10,097

1,152

28,106

NET BOOK VALUE

At 31 March 2023

50,368

15,496

701

66,565

At 31 March 2022

55,965

17,832

772

74,569

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Other debtors

20,151

6,877

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Bank loans and overdrafts

15,800

16,283

Trade creditors

1,109

64,206

Taxation and social security

33,792

31,628

Other creditors

49,517

42,384

100,218

154,501

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.23

31.3.22

£

£

Bank loans

37,920

53,723

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.3.23

31.3.22

£

£

Within one year

27,500

27,500

Between one and five years

36,850

64,075

64,350

91,575

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.23

31.3.22

value:

£

£

2

Ordinary

£1

2

2

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end, the company owes the directors £6,471 (2022: £709).

12.	ULTIMATE CONTROLLING PARTY

The controlling party is A J Ferguson & J L Ferguson.