2 false false false false false false false false false false true false false false false false false No description of principal activity 2022-10-01 Sage Accounts Production Advanced 2023 - FRS102_2023 16,396 13,792 868 14,660 1,736 2,604 xbrli:pure xbrli:shares iso4217:GBP SC290083 2022-10-01 2023-09-30 SC290083 2023-09-30 SC290083 2022-09-30 SC290083 2021-10-01 2022-09-30 SC290083 2022-09-30 SC290083 2021-09-30 SC290083 bus:Director1 2022-10-01 2023-09-30 SC290083 core:WithinOneYear 2023-09-30 SC290083 core:WithinOneYear 2022-09-30 SC290083 core:ShareCapital 2023-09-30 SC290083 core:ShareCapital 2022-09-30 SC290083 core:RetainedEarningsAccumulatedLosses 2023-09-30 SC290083 core:RetainedEarningsAccumulatedLosses 2022-09-30 SC290083 bus:SmallEntities 2022-10-01 2023-09-30 SC290083 bus:AuditExemptWithAccountantsReport 2022-10-01 2023-09-30 SC290083 bus:SmallCompaniesRegimeForAccounts 2022-10-01 2023-09-30 SC290083 bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 SC290083 bus:FullAccounts 2022-10-01 2023-09-30 SC290083 core:OfficeEquipment 2022-10-01 2023-09-30 SC290083 core:OfficeEquipment 2023-09-30 SC290083 core:OfficeEquipment 2022-09-30
COMPANY REGISTRATION NUMBER: SC290083
Argyll Fenton Limited
Filleted Unaudited Financial Statements
For the year ended
30 September 2023
Argyll Fenton Limited
Statement of Financial Position
30 September 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
1,736
2,604
Current assets
Debtors
6
12,597
11,726
Cash at bank and in hand
31,148
55,864
--------
--------
43,745
67,590
Creditors: amounts falling due within one year
7
34,617
32,032
--------
--------
Net current assets
9,128
35,558
--------
--------
Total assets less current liabilities
10,864
38,162
--------
--------
Net assets
10,864
38,162
--------
--------
Capital and reserves
Called up share capital
2
2
Profit and loss account
10,862
38,160
--------
--------
Shareholders funds
10,864
38,162
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 10 April 2024 , and are signed on behalf of the board by:
S Fenton
Director
Company registration number: SC290083
Argyll Fenton Limited
Notes to the Financial Statements
Year ended 30 September 2023
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 272 Bath Street, Glasgow, G2 4JR.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
33% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Tangible assets
Equipment
Total
£
£
Cost
At 1 October 2022 and 30 September 2023
16,396
16,396
--------
--------
Depreciation
At 1 October 2022
13,792
13,792
Charge for the year
868
868
--------
--------
At 30 September 2023
14,660
14,660
--------
--------
Carrying amount
At 30 September 2023
1,736
1,736
--------
--------
At 30 September 2022
2,604
2,604
--------
--------
6. Debtors
2023
2022
£
£
Trade debtors
12,597
11,450
Other debtors
276
--------
--------
12,597
11,726
--------
--------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
1,112
Corporation tax
5,579
11,532
Social security and other taxes
4,587
Other creditors
24,451
19,388
--------
--------
34,617
32,032
--------
--------
8. Related party transactions
The company was under the control of Mr & Mrs Fenton throughout the current and previous year. Mrs Fenton is the managing Director.