Scan And Model Limited 10762406 false 2022-07-01 2023-06-30 2023-06-30 The principal activity of the company is 3D modelling. Digita Accounts Production Advanced 6.30.9574.0 true true 10762406 2022-07-01 2023-06-30 10762406 2023-06-30 10762406 core:RetainedEarningsAccumulatedLosses 2023-06-30 10762406 core:ShareCapital 2023-06-30 10762406 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-06-30 10762406 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-06-30 10762406 core:CurrentFinancialInstruments 2023-06-30 10762406 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 10762406 core:Non-currentFinancialInstruments core:AfterOneYear 2023-06-30 10762406 core:FurnitureFittingsToolsEquipment 2023-06-30 10762406 bus:SmallEntities 2022-07-01 2023-06-30 10762406 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 10762406 bus:FullAccounts 2022-07-01 2023-06-30 10762406 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 10762406 bus:RegisteredOffice 2022-07-01 2023-06-30 10762406 bus:Director1 2022-07-01 2023-06-30 10762406 bus:Director3 2022-07-01 2023-06-30 10762406 bus:Director4 2022-07-01 2023-06-30 10762406 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 10762406 core:FurnitureFittingsToolsEquipment 2022-07-01 2023-06-30 10762406 core:OfficeEquipment 2022-07-01 2023-06-30 10762406 countries:EnglandWales 2022-07-01 2023-06-30 10762406 2022-06-30 10762406 core:FurnitureFittingsToolsEquipment 2022-06-30 10762406 2021-07-01 2022-06-30 10762406 2022-06-30 10762406 core:RetainedEarningsAccumulatedLosses 2022-06-30 10762406 core:ShareCapital 2022-06-30 10762406 core:HirePurchaseContracts core:CurrentFinancialInstruments 2022-06-30 10762406 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2022-06-30 10762406 core:CurrentFinancialInstruments 2022-06-30 10762406 core:CurrentFinancialInstruments core:WithinOneYear 2022-06-30 10762406 core:Non-currentFinancialInstruments core:AfterOneYear 2022-06-30 10762406 core:FurnitureFittingsToolsEquipment 2022-06-30 iso4217:GBP xbrli:pure

Registration number: 10762406

Scan And Model Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2023

 

Scan And Model Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Scan And Model Limited

Company Information

Directors

Mr N F Milligan

Mr J D Saxon

Mr P A Tapp

Registered office

Tythe House
20-21 The Tything
Worcester
Worcestershire
WR1 1HD

Accountants

Ballards LLP
Chartered Accountants
Oakmoore Court
11C Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH

 

Scan And Model Limited

(Registration number: 10762406)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

10,728

1,911

Current assets

 

Debtors

5

10,145

5,204

Cash at bank and in hand

 

3,346

9,700

 

13,491

14,904

Creditors: Amounts falling due within one year

6

(13,583)

(5,199)

Net current (liabilities)/assets

 

(92)

9,705

Total assets less current liabilities

 

10,636

11,616

Creditors: Amounts falling due after more than one year

6

(7,750)

-

Provisions for liabilities

-

(363)

Net assets

 

2,886

11,253

Capital and reserves

 

Called up share capital

1,000

1,000

Retained earnings

1,886

10,253

Shareholders' funds

 

2,886

11,253

For the financial year ending 30 June 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 14 March 2024 and signed on its behalf by:
 

.........................................
Mr P A Tapp
Director

   
 

Scan And Model Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Tythe House
20-21 The Tything
Worcester
Worcestershire
WR1 1HD
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Scan And Model Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Scan And Model Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Scan And Model Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 3).

 

Scan And Model Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 July 2022

7,376

7,376

Additions

12,394

12,394

At 30 June 2023

19,770

19,770

Depreciation

At 1 July 2022

5,465

5,465

Charge for the year

3,577

3,577

At 30 June 2023

9,042

9,042

Carrying amount

At 30 June 2023

10,728

10,728

At 30 June 2022

1,911

1,911

5

Debtors

Current

2023
£

2022
£

Trade debtors

5,460

3,402

Other debtors

4,685

1,802

 

10,145

5,204

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

7

3,000

-

Trade creditors

 

124

117

Taxation and social security

 

8,959

3,149

Other creditors

 

1,500

1,933

 

13,583

5,199

Due after one year

 

Loans and borrowings

7

7,750

-

 

Scan And Model Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

7,750

-

7

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Hire purchase contracts

7,750

-

2023
£

2022
£

Current loans and borrowings

Hire purchase contracts

3,000

-