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No description of principal activity
2021-11-01
Sage Accounts Production Advanced 2021 - FRS102_2021
229,200
229,200
229,200
xbrli:pure
xbrli:shares
iso4217:GBP
SC464052
2021-11-01
2022-10-31
SC464052
2022-10-31
SC464052
2021-10-31
SC464052
bus:Director1
2021-11-01
2022-10-31
SC464052
core:WithinOneYear
2022-10-31
SC464052
core:WithinOneYear
2021-10-31
SC464052
core:ShareCapital
2022-10-31
SC464052
core:ShareCapital
2021-10-31
SC464052
core:RetainedEarningsAccumulatedLosses
2022-10-31
SC464052
core:RetainedEarningsAccumulatedLosses
2021-10-31
SC464052
core:CostValuation
core:Non-currentFinancialInstruments
2021-10-31
SC464052
core:AdditionsToInvestments
core:Non-currentFinancialInstruments
2022-10-31
SC464052
core:DisposalsRepaymentsInvestments
core:Non-currentFinancialInstruments
2022-10-31
SC464052
core:Non-currentFinancialInstruments
core:RevaluationsIncreaseDecreaseInInvestments
2022-10-31
SC464052
core:CostValuation
core:Non-currentFinancialInstruments
2022-10-31
SC464052
core:Non-currentFinancialInstruments
2022-10-31
SC464052
core:Non-currentFinancialInstruments
2021-10-31
SC464052
core:LandBuildings
2022-10-31
SC464052
core:LandBuildings
2021-10-31
SC464052
bus:SmallEntities
2021-11-01
2022-10-31
SC464052
bus:AuditExemptWithAccountantsReport
2021-11-01
2022-10-31
SC464052
bus:FullAccounts
2021-11-01
2022-10-31
SC464052
bus:SmallCompaniesRegimeForAccounts
2021-11-01
2022-10-31
SC464052
bus:PrivateLimitedCompanyLtd
2021-11-01
2022-10-31
COMPANY REGISTRATION NUMBER:
SC464052
Filleted Unaudited Financial Statements
|
|
Statement of Financial Position
|
|
31 October 2022
Fixed assets
Tangible assets
|
4
|
229,200
|
229,200
|
Investments
|
5
|
662,502
|
568,467
|
|
---------
|
---------
|
|
891,702
|
797,667
|
|
|
|
|
Current assets
Cash at bank and in hand
|
1,824,236
|
1,559,238
|
|
|
|
Creditors: amounts falling due within one year
|
6
|
1,188
|
638
|
|
------------
|
------------
|
Net current assets
|
1,823,048
|
1,558,600
|
|
------------
|
------------
|
Total assets less current liabilities
|
2,714,750
|
2,356,267
|
|
------------
|
------------
|
Net assets
|
2,714,750
|
2,356,267
|
|
------------
|
------------
|
|
|
|
|
Capital and reserves
Called up share capital
|
100
|
100
|
Profit and loss account
|
2,714,650
|
2,356,167
|
|
------------
|
------------
|
Shareholders funds
|
2,714,750
|
2,356,267
|
|
------------
|
------------
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 October 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
23 March 2023
, and are signed on behalf of the board by:
James F Buchanan
|
|
Director
|
|
|
|
Company registration number:
SC464052
Notes to the Financial Statements
|
|
Year ended 31 October 2022
1.
General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 3 Arrol Square, Deans Industrial Estate, Livingston, EH54 8QZ.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4.
Tangible assets
|
Land and buildings
|
|
£
|
Cost
|
|
At 1 November 2021 and 31 October 2022
|
229,200
|
|
---------
|
Depreciation
|
|
At 1 November 2021 and 31 October 2022
|
–
|
|
---------
|
Carrying amount
|
|
At 31 October 2022
|
229,200
|
|
---------
|
At 31 October 2021
|
229,200
|
|
---------
|
|
|
5.
Investments
|
Shares in group undertakings
|
Other investments other than loans
|
Total
|
|
£
|
£
|
£
|
Cost
|
|
|
|
At 1 November 2021
|
100
|
568,367
|
568,467
|
Additions
|
–
|
760,784
|
760,784
|
Disposals
|
–
|
(
433,822)
|
(
433,822)
|
Revaluations
|
–
|
(
232,927)
|
(
232,927)
|
|
----
|
---------
|
---------
|
At 31 October 2022
|
100
|
662,402
|
662,502
|
|
----
|
---------
|
---------
|
Impairment
|
|
|
|
At 1 November 2021 and 31 October 2022
|
–
|
–
|
–
|
|
----
|
---------
|
---------
|
|
|
|
|
Carrying amount
|
|
|
|
At 31 October 2022
|
100
|
662,402
|
662,502
|
|
----
|
---------
|
---------
|
At 31 October 2021
|
100
|
568,367
|
568,467
|
|
----
|
---------
|
---------
|
|
|
|
|
The company owns 100% of the issued share capital of the companies listed below:-
Aggregate capital and reserves
Buchanan Skip Hire Limited
Profit and (loss) for the year
Buchanan Skip Hire Limited
Under the provision of section 398 of the Companies Act 2006 the company is exempt from preparing consolidated accounts and has not done so, therefore the accounts show information about the company as an individual entity.
6.
Creditors:
amounts falling due within one year
|
2022
|
2021
|
|
£
|
£
|
Corporation tax
|
888
|
338
|
Other creditors
|
300
|
300
|
|
-------
|
----
|
|
1,188
|
638
|
|
-------
|
----
|
|
|
|
7.
Related party transactions
The company was under the control of
James F Buchanan
and Morag B Buchanan throughout the period since incorporation. James F Buchanan
is the managing director. The company owns 100% of the share capital of Buchanan Skip Hire Limited (SC235657).