Company Registration No. SC222568 (Scotland)
Ross Promotional Products Ltd.
Unaudited accounts
for the year ended 31 December 2023
Ross Promotional Products Ltd.
Statement of financial position
as at 31 December 2023
Tangible assets
18,153
13,672
Cash at bank and in hand
399,091
357,611
Creditors: amounts falling due within one year
(304,005)
(261,587)
Net current assets
476,366
388,158
Net assets
494,519
401,830
Called up share capital
100
100
Profit and loss account
494,419
401,730
Shareholders' funds
494,519
401,830
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 March 2024 and were signed on its behalf by
S N Ross
Director
Company Registration No. SC222568
Ross Promotional Products Ltd.
Notes to the Accounts
for the year ended 31 December 2023
Ross Promotional Products Ltd. is a private company, limited by shares, registered in Scotland, registration number SC222568. The registered office is 40 Crimea Street, Glasgow, G2 8PW.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Fixtures & fittings
25% reducing balance
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 January 2023
51,039
11,806
62,845
At 31 December 2023
51,039
22,338
73,377
At 1 January 2023
38,273
10,900
49,173
Charge for the year
3,191
2,860
6,051
At 31 December 2023
41,464
13,760
55,224
At 31 December 2023
9,575
8,578
18,153
At 31 December 2022
12,766
906
13,672
Ross Promotional Products Ltd.
Notes to the Accounts
for the year ended 31 December 2023
Amounts falling due within one year
Trade debtors
334,896
247,259
Accrued income and prepayments
8,450
4,610
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Creditors: amounts falling due within one year
2023
2022
Trade creditors
97,791
110,783
Taxes and social security
116,866
69,339
Loans from directors
819
453
Allotted, called up and fully paid:
80 Ordinary 'A' shares of £1 each
80
80
10 Ordinary 'B' shares of £1 each
10
10
10 Ordinary 'C' shares of £1 each
10
10
8
Average number of employees
During the year the average number of employees was 9 (2022: 9).