0 false false false false false false false false false true false false false false false false No description of principal activity 2022-04-01 Sage Accounts Production Advanced 2021 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP SC389003 2022-04-01 2023-03-31 SC389003 2023-03-31 SC389003 2022-03-31 SC389003 2022-03-31 SC389003 core:PlantMachinery 2022-04-01 2023-03-31 SC389003 core:MotorVehicles 2022-04-01 2023-03-31 SC389003 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 SC389003 bus:Director1 2022-04-01 2023-03-31 SC389003 core:PlantMachinery 2022-03-31 SC389003 core:MotorVehicles 2022-03-31 SC389003 core:PlantMachinery 2023-03-31 SC389003 core:MotorVehicles 2023-03-31 SC389003 core:WithinOneYear 2023-03-31 SC389003 core:WithinOneYear 2022-03-31 SC389003 core:ShareCapital 2023-03-31 SC389003 core:ShareCapital 2022-03-31 SC389003 core:RevaluationReserve 2023-03-31 SC389003 core:RevaluationReserve 2022-03-31 SC389003 core:RetainedEarningsAccumulatedLosses 2023-03-31 SC389003 core:RetainedEarningsAccumulatedLosses 2022-03-31 SC389003 core:PlantMachinery 2022-03-31 SC389003 core:MotorVehicles 2022-03-31 SC389003 bus:SmallEntities 2022-04-01 2023-03-31 SC389003 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 SC389003 bus:FullAccounts 2022-04-01 2023-03-31 SC389003 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 SC389003 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 SC389003 bus:OrdinaryShareClass1 2023-03-31 SC389003 bus:OrdinaryShareClass1 2022-03-31 SC389003 core:OfficeEquipment 2022-04-01 2023-03-31 SC389003 core:OfficeEquipment 2022-03-31 SC389003 core:OfficeEquipment 2023-03-31
COMPANY REGISTRATION NUMBER: SC389003
Strathmore Briquette Limited
Filleted Unaudited Financial Statements
31 March 2023
Strathmore Briquette Limited
Statement of Financial Position
31 March 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
4
215,619
183,014
Current assets
Stocks
51,000
82,000
Debtors
5
69,449
16,538
Cash at bank and in hand
20,633
26,229
---------
---------
141,082
124,767
Creditors: amounts falling due within one year
6
304,216
295,276
---------
---------
Net current liabilities
163,134
170,509
---------
---------
Total assets less current liabilities
52,485
12,505
Provisions
Taxation including deferred tax
38,249
--------
--------
Net assets
14,236
12,505
--------
--------
Capital and reserves
Called up share capital
8
20,100
20,100
Revaluation reserve
1,596
1,994
Profit and loss account
( 7,460)
( 9,589)
--------
--------
Shareholders funds
14,236
12,505
--------
--------
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 comprehensive income has not been delivered.
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Strathmore Briquette Limited
Statement of Financial Position (continued)
31 March 2023
These financial statements were approved by the board of directors and authorised for issue on 27 November 2023 , and are signed on behalf of the board by:
Mr Roderick S. Hill
Director
Company registration number: SC389003
Strathmore Briquette Limited
Notes to the Financial Statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is The Row, Douglastown, Forfar, Angus, DD8 1TL.
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.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances .
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Corporation 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.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
15% reducing balance
Motor vehicles
-
25% reducing balance
Office equipment
-
25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Tangible assets
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
Cost or valuation
At 1 April 2022
282,194
43,384
1,625
327,203
Additions
16,190
58,998
75,188
Disposals
( 3,621)
( 21,284)
( 24,905)
Revaluations
( 261)
( 261)
---------
--------
-------
---------
At 31 March 2023
294,502
81,098
1,625
377,225
---------
--------
-------
---------
Depreciation
At 1 April 2022
122,412
21,211
566
144,189
Charge for the year
23,494
1,303
265
25,062
Disposals
( 2,460)
( 5,322)
( 7,782)
Revaluations
137
137
---------
--------
-------
---------
At 31 March 2023
143,583
17,192
831
161,606
---------
--------
-------
---------
Carrying amount
At 31 March 2023
150,919
63,906
794
215,619
---------
--------
-------
---------
At 31 March 2022
159,782
22,173
1,059
183,014
---------
--------
-------
---------
5. Debtors
2023
2022
£
£
Trade debtors
59,641
4,437
Other debtors
9,808
12,101
--------
--------
69,449
16,538
--------
--------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
304,216
295,276
---------
---------
7. Deferred tax
The deferred tax included in the statement of financial position is as follows:
2023
2022
£
£
Included in provisions
38,249
--------
----
8. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
20,100
20,100
20,100
20,100
--------
--------
--------
--------