Registered number
SC536448
SUBWAY, BLANTYRE LTD
190 Main Street
Blantyre
Filleted Accounts
for the year ended 31 March 2023
Yousaf & Co Ltd
Chartered Certified Accountants
Registered Auditors
298-300 Maxwell Road
Glasgow
G41 1PJ
Ref: S487/TG
SUBWAY, BLANTYRE LTD
Registered number: SC536448
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 21,226 20,765
Current assets
Stocks 9,271 9,726
Debtors 4 13,887 18,796
Cash at bank and in hand 5,604 5,668
28,762 34,190
Creditors: amounts falling due within one year 5 (21,615) (17,479)
Net current assets 7,147 16,711
Total assets less current liabilities 28,373 37,476
Creditors: amounts falling due after more than one year 6 (86,263) (115,760)
Net assets/(liabilities) (57,890) (78,284)
Capital and reserves
Called up share capital 200 200
Profit and loss account (58,090) (78,484)
Shareholders' funds (57,890) (78,284)
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.
Shahid Razzaq
Director
Approved by the board on 2 October 2023
SUBWAY, BLANTYRE LTD
Notes to the Accounts
for the year ended 31 March 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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
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, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price).
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 9 12
3 Tangible fixed assets
Fixture & fittings
£
Cost
At 1 April 2022 31,456
Additions 2,820
At 31 March 2023 34,276
Depreciation
At 1 April 2022 10,691
Charge for the year 2,359
At 31 March 2023 13,050
Net book value
At 31 March 2023 21,226
At 31 March 2022 20,765
4 Debtors 2023 2022
£ £
Trade debtors 13,887 18,796
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 25 73
Taxation and social security costs 620 274
Other creditors 20,970 17,132
21,615 17,479
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 64,167 85,093
Director's loan account 22,096 30,667
86,263 115,760
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