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Registered number: 11703709
SCOTTS ARMS LTD
Financial Statements
For The Year Ended 30 November 2023
Morgan Wells
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11703709
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 - 14,500
Tangible Assets 5 31,489 27,003
31,489 41,503
CURRENT ASSETS
Stocks 6 15,000 13,750
Debtors 7 19,282 3,724
Cash at bank and in hand 59,202 50,660
93,484 68,134
Creditors: Amounts Falling Due Within One Year 8 (100,658 ) (51,860 )
NET CURRENT ASSETS (LIABILITIES) (7,174 ) 16,274
TOTAL ASSETS LESS CURRENT LIABILITIES 24,315 57,777
Creditors: Amounts Falling Due After More Than One Year 9 (87,956 ) (60,880 )
NET LIABILITIES (63,641 ) (3,103 )
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account (63,741 ) (3,203 )
SHAREHOLDERS' FUNDS (63,641) (3,103)
Page 1
Page 2
For the year ending 30 November 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Glen Van Zeller
Director
12/08/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
SCOTTS ARMS LTD is a private company, limited by shares, incorporated in England & Wales, registered number 11703709 . The registered office is Main Street, Sicklinghall, Wetherby, LS22 4BD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are .... It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Straight Line
Motor Vehicles 33% Straight Line
Fixtures & Fittings 25% Straight Line
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 27 (2022: 32)
27 32
4. Intangible Assets
Other
£
Cost
As at 1 December 2022 14,500
Disposals (14,500 )
As at 30 November 2023 -
Net Book Value
As at 30 November 2023 -
As at 1 December 2022 14,500
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5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 December 2022 - 26,678 11,523 38,201
Additions 5,125 - 16,555 21,680
As at 30 November 2023 5,125 26,678 28,078 59,881
Depreciation
As at 1 December 2022 - 8,893 2,305 11,198
Provided during the period 1,281 8,893 7,020 17,194
As at 30 November 2023 1,281 17,786 9,325 28,392
Net Book Value
As at 30 November 2023 3,844 8,892 18,753 31,489
As at 1 December 2022 - 17,785 9,218 27,003
6. Stocks
2023 2022
£ £
Stock 15,000 13,750
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 4,426 3,724
Other debtors (1) 14,856 -
19,282 3,724
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 24,411 21,285
Other loans 25,651 -
Other taxes and social security 6,538 14,898
VAT 27,436 -
Directors' loan accounts 16,622 15,677
100,658 51,860
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 87,956 60,880
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10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
Page 5