1 September 2022 false No description of principal activity Taxfiler 2023.9 SC600772business:PrivateLimitedCompanyLtd2022-09-012023-05-31 SC6007722022-08-31 SC6007722022-09-012023-05-31 SC600772business:AuditExemptWithAccountantsReport2022-09-012023-05-31 SC600772business:AbridgedAccounts2022-09-012023-05-31 SC6007722023-05-31 SC600772business:Director12022-09-012023-05-31 SC600772business:RegisteredOffice2022-09-012023-05-31 SC6007722022-08-31 SC600772core:WithinOneYear2023-05-31 SC600772core:WithinOneYear2022-08-31 SC600772core:ShareCapitalcore:PreviouslyStatedAmount2023-05-31 SC600772core:ShareCapitalcore:PreviouslyStatedAmount2022-08-31 SC600772core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-05-31 SC600772core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-08-31 SC600772core:PreviouslyStatedAmount2023-05-31 SC600772core:PreviouslyStatedAmount2022-08-31 SC600772business:SmallEntities2022-09-012023-05-31 SC600772countries:Scotland2022-09-012023-05-31 SC600772core:FurnitureFittings2022-09-012023-05-31 SC6007722021-09-012022-08-31 iso4217:GBP xbrli:pure
Company Registration No. SC600772 (Scotland)
Fraser Sports Limited Unaudited accounts for the period from 1 September 2022 to 31 May 2023
Fraser Sports Limited Unaudited accounts Contents
Page
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Fraser Sports Limited Company Information for the period from 1 September 2022 to 31 May 2023
Director
Russell Fraser
Company Number
SC600772 (Scotland)
Registered Office
The White House Drum Hotel Drumnadrochit IV3 6TU
Accountants
CMM Accountancy (Inverness) Limited The Green House Beechwood Business Park North Inverness IV2 3BL
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Fraser Sports Limited Statement of financial position as at 31 May 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
- 
245 
Current assets
Inventories
- 
2,338 
Debtors
10 
1,201 
Cash at bank and in hand
19,694 
18,958 
19,704 
22,497 
Creditors: amounts falling due within one year
(14,283)
(15,036)
Net current assets
5,421 
7,461 
Net assets
5,421 
7,706 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
5,321 
7,606 
Shareholders' funds
5,421 
7,706 
For the period ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the period in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 6 October 2023 and were signed on its behalf by
Russell Fraser Director Company Registration No. SC600772
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Fraser Sports Limited Notes to the Accounts for the period from 1 September 2022 to 31 May 2023
1
Statutory information
Fraser Sports Limited is a private company, limited by shares, registered in Scotland, registration number SC600772. The registered office is The White House Drum Hotel, Drumnadrochit, IV3 6TU.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% straight line
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
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Fraser Sports Limited Notes to the Accounts for the period from 1 September 2022 to 31 May 2023
4
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 September 2022
708 
Disposals
(708)
At 31 May 2023
- 
Depreciation
At 1 September 2022
463 
Charge for the period
89 
Surplus on revaluation
(552)
At 31 May 2023
- 
Net book value
At 31 May 2023
- 
At 31 August 2022
245 
5
Average number of employees
During the period the average number of employees was 1 (2022: 1).
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