Registered number
SC607243
Mark Roscoe Art Limited
Filleted Accounts
30 September 2023
Mark Roscoe Art Limited
Registered number: SC607243
Balance Sheet
as at 30 September 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 618 763
Current assets
Debtors 4 - 9,800
Cash at bank and in hand 5,413 1,525
5,413 11,325
Creditors: amounts falling due within one year 5 (5,658) (4,669)
Net current (liabilities)/assets (245) 6,656
Total assets less current liabilities 373 7,419
Creditors: amounts falling due after more than one year 6 (30) (7,373)
Net assets 343 46
Capital and reserves
Called up share capital 100 100
Profit and loss account 243 (54)
Shareholder's funds 343 46
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
M Roscoe
Director
Approved by the board on 6 March 2024
Mark Roscoe Art Limited
Notes to the Accounts
for the year ended 30 September 2023
1 Accounting policies
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. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on at the following annual rates on all tangible fixed assets, other than freehold land, as follows:
Plant and machinery 15% on a Reducing Balance basis
Fixtures, fittings, tools and equipment 15% on a Reducing Balance basis
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 October 2022 1,069
At 30 September 2023 1,069
Depreciation
At 1 October 2022 306
Charge for the year 145
At 30 September 2023 451
Net book value
At 30 September 2023 618
At 30 September 2022 763
4 Debtors 2023 2022
£ £
Other debtors - 9,800
5 Creditors: amounts falling due within one year 2023 2022
£ £
Corporation tax 5,658 4,669
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans - 7,333
Director's account 30 40
30 7,373
7 Other information
Mark Roscoe Art Limited is a private company limited by shares and incorporated in Scotland. Its registered office is:
22 Abbots Walk
Kirkcaldy
Fife
KY2 5NL
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