F McLAUGHLAN SLATERS LTD
Registered number: SC236401
Balance Sheet
as at 30 September 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 4,488 5,984
Current assets
Cash at bank and in hand 6,580 6,451
Creditors: amounts falling due within one year 4 (39,336) (39,100)
Net current liabilities (32,756) (32,649)
Net liabilities (28,268) (26,665)
Capital and reserves
Called up share capital 2 2
Profit and loss account (28,270) (26,667)
Shareholders' funds (28,268) (26,665)
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.
Janet W McLaughlan
Director
Approved by the board on 5 March 2024
F McLAUGHLAN SLATERS LTD
Notes to the Accounts
for the year ended 30 September 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.
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 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:
Plant and machinery 25% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 October 2022 1,726 10,595 12,321
At 30 September 2023 1,726 10,595 12,321
Depreciation
At 1 October 2022 1,726 4,611 6,337
Charge for the year - 1,496 1,496
At 30 September 2023 1,726 6,107 7,833
Net book value
At 30 September 2023 - 4,488 4,488
At 30 September 2022 - 5,984 5,984
4 Creditors: amounts falling due within one year 2023 2022
£ £
Accruals 116 280
Director's account 39,220 38,820
5 Related party disclosures
The directors have jointly given a loan to the company, the balance of which is as stated in Note 4, which will be repaid when the company has sufficient funds to repay without affecting the cash flow of the company.
Dividends if paid, as per the Statement of Changes in Equity, were paid equally to the two shareholders.
6 Controlling party
There is no ultimate controlling party. The directors, Francis McLaughlan and Janet McLaughlan each own 50% of the called up share capital.
7 Other information
F McLAUGHLAN SLATERS LTD is a private company limited by shares and incorporated in Scotland. Its registered office is:
1 Glenfield Gardens
Paisley
Renfrewshire
PA2 8BF
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