Registered number
SC442259
MADDISTON TRADERS LIMITED
Filleted Accounts
28 February 2023
MADDISTON TRADERS LIMITED
Registered number: SC442259
Balance Sheet
as at 28 February 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 45,339 46,153
45,339 46,153
Current assets
Stocks 45,875 49,225
Cash at bank and in hand 204,568 193,279
250,443 242,504
Creditors: amounts falling due within one year 4 (80,348) (112,022)
Net current assets 170,095 130,482
Total assets less current liabilities 215,434 176,635
Creditors: amounts falling due after more than one year 5 (40,833) (50,000)
Provisions for liabilities - -
Net assets 174,601 126,635
Capital and reserves
Called up share capital 100 100
Share premium - -
Profit and loss account 174,501 126,535
Shareholders' funds 174,601 126,635
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Saeed Sardar
Director
Approved by the board on 1 August 2023
MADDISTON TRADERS LIMITED
Notes to the Accounts
for the year ended 28 February 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at 10% reducing balance.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 10 12
3 Tangible fixed assets
Fixtures & Fittings Equipment Motor vehicles Total
£ £ £ £
Cost
At 1 March 2022 43,707 14,317 16,496 74,520
Additions - - - -
Surplus on revaluation - - - -
Disposals - 4,224 - 4,224
At 28 February 2023 43,707 18,541 16,496 78,744
Depreciation
At 1 March 2022 21,263 1,432 5,672 28,367
Charge for the year 2,245 1,711 1,082 5,038
Surplus on revaluation - - - -
On disposals - - - -
At 28 February 2023 23,508 3,143 6,754 33,405
Net book value
At 28 February 2023 20,199 15,398 9,742 45,339
At 28 February 2022 22,444 12,885 10,824 46,153
4 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 22,473 44,691
Accruals 1,080 1,594
Taxation and social security costs 26,330 35,272
Other creditors 30,465 30,465
80,348 112,022
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 40,833 50,000
Other creditors - -
40,833 50,000
6 Off-balance sheet arrangements
None
7 Other information
MADDISTON TRADERS LIMITED is a private company limited by shares and incorporated in Scotland. Its registered office is:
162 Darnley Street
Glasgow
G41 2LL
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