Anderson & Cluness Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: SC240374 (Scotland)

Unaudited Financial Statements for the Year Ended 31 January 2024

for

Anderson & Cluness Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

I T Cluness

Mrs F A Cluness

R B Cluness

SECRETARY:

Shepherd & Wedderburn Secretaries Limited

REGISTERED OFFICE:

Commercial House

2 Rubislaw Terrace

Aberdeen

AB10 1XE

REGISTERED NUMBER:

SC240374 (Scotland)

ACCOUNTANTS:

Bon Accord Accountancy Limited

2 North Ness Business Park

Lerwick

Shetland

ZE1 0LZ

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

96,755

108,792

96,755

108,792

CURRENT ASSETS

Stocks

93,989

85,043

Debtors

6

113,968

148,951

Cash at bank and in hand

33,057

54,632

241,014

288,626

CREDITORS

Amounts falling due within one year

7

102,306

114,564

NET CURRENT ASSETS

138,708

174,062

TOTAL ASSETS LESS CURRENT LIABILITIES

235,463

282,854

CREDITORS

Amounts falling due after more than one year

8

(14,061

)

(23,958

)

PROVISIONS FOR LIABILITIES

(22,932

)

(19,524

)

NET ASSETS

198,470

239,372

CAPITAL AND RESERVES

Called up share capital

50

50

Other reserves

50

50

Retained earnings

198,370

239,272

SHAREHOLDERS' FUNDS

198,470

239,372

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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 15 April 2024 and were signed on its behalf by:

I T Cluness - Director

Mrs F A Cluness - Director

R B Cluness - Director

1.	STATUTORY INFORMATION

Anderson & Cluness 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 2011, 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

-

in accordance with the property

Plant and machinery

-

15% on cost

Fixtures and fittings

-

15% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Stocks

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

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.

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 27 (2023 - 26 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 February 2023

and 31 January 2024

71,600

AMORTISATION

At 1 February 2023

and 31 January 2024

71,600

NET BOOK VALUE

At 31 January 2024

-

At 31 January 2023

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 February 2023

10,057

57,598

7,269

Additions

-

3,931

-

Disposals

-

-

-

At 31 January 2024

10,057

61,529

7,269

DEPRECIATION

At 1 February 2023

4,023

25,949

7,269

Charge for year

1,006

7,095

-

Eliminated on disposal

-

-

-

At 31 January 2024

5,029

33,044

7,269

NET BOOK VALUE

At 31 January 2024

5,028

28,485

-

At 31 January 2023

6,034

31,649

-

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 February 2023

158,469

4,139

237,532

Additions

11,400

-

15,331

Disposals

(12,920

)

-

(12,920

)

At 31 January 2024

156,949

4,139

239,943

DEPRECIATION

At 1 February 2023

88,050

3,449

128,740

Charge for year

18,286

405

26,792

Eliminated on disposal

(12,344

)

-

(12,344

)

At 31 January 2024

93,992

3,854

143,188

NET BOOK VALUE

At 31 January 2024

62,957

285

96,755

At 31 January 2023

70,419

690

108,792

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.24

31.1.23

£

£

Trade debtors

95,666

138,580

Other debtors

18,302

10,371

113,968

148,951

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.24

31.1.23

£

£

Bank loans and overdrafts

10,000

10,000

Trade creditors

30,073

37,849

Taxation and social security

28,811

34,996

Other creditors

33,422

31,719

102,306

114,564

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.24

31.1.23

£

£

Bank loans

14,061

23,958