Company Registration No. SC434806 (Scotland)
Keith Sherrit Ltd
Unaudited accounts
for the year ended 31 October 2023
Keith Sherrit Ltd
Unaudited accounts
Contents
Keith Sherrit Ltd
Company Information
for the year ended 31 October 2023
Company Number
SC434806 (Scotland)
Registered Office
Laurenston
Westtown
Errol
Perthshire
PH2 7SU
Accountants
Fraser + Accountants
3 Barossa Place
Perth
Perthshire
PH1 5HG
Keith Sherrit Ltd
Statement of financial position
as at 31 October 2023
Tangible assets
8,244
10,214
Cash at bank and in hand
-
2,014
Creditors: amounts falling due within one year
(10,944)
(6,880)
Net current (liabilities)/assets
(133)
1,043
Total assets less current liabilities
8,111
11,257
Creditors: amounts falling due after more than one year
(8,653)
(13,847)
Provisions for liabilities
Net liabilities
(542)
(4,531)
Called up share capital
2
2
Profit and loss account
(544)
(4,533)
Shareholders' funds
(542)
(4,531)
For the year ending 31 October 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 director acknowledges his 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 and authorised for issue on 19 March 2024 and were signed on its behalf by
Keith Sherrit
Director
Company Registration No. SC434806
Keith Sherrit Ltd
Notes to the Accounts
for the year ended 31 October 2023
Keith Sherrit Ltd is a private company, limited by shares, registered in Scotland, registration number SC434806. The registered office is Laurenston, Westtown, Errol, Perthshire, PH2 7SU.
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
15% Reducing balance
Motor vehicles
20% Reducing balance
Computer equipment
25% Straight line
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 November 2022
4,159
17,227
974
22,360
At 31 October 2023
4,159
17,227
974
22,360
At 1 November 2022
1,659
9,845
642
12,146
Charge for the year
375
1,476
119
1,970
At 31 October 2023
2,034
11,321
761
14,116
At 31 October 2023
2,125
5,906
213
8,244
At 31 October 2022
2,500
7,382
332
10,214
Keith Sherrit Ltd
Notes to the Accounts
for the year ended 31 October 2023
Amounts falling due after more than one year
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
8,483
5,123
Taxes and social security
942
(1,153)
7
Creditors: amounts falling due after more than one year
2023
2022
8
Average number of employees
During the year the average number of employees was 1 (2022: 1).