Company Registration No. SC764371 (Scotland)
Mark Smith Glazing Limited
Unaudited accounts
for the period from 30 March 2023 to 31 March 2024
Mark Smith Glazing Limited
Unaudited accounts
Contents
Mark Smith Glazing Limited
Company Information
for the period from 30 March 2023 to 31 March 2024
Directors
Jonathan Hughson Blurton
Mark Smith
Company Number
SC764371 (Scotland)
Registered Office
258 Portobello High Street
Edinburgh
Midlothian
EH15 2AT
Scotland
Accountants
Rebus Bookkeeping and Accountancy Limited
52 Bankton Park East
Murieston
Livingston
West Lothian
EH54 9BW
Mark Smith Glazing Limited
Statement of financial position
as at 31 March 2024
Cash at bank and in hand
615,781
Creditors: amounts falling due within one year
(780,494)
Total assets less current liabilities
823,359
Creditors: amounts falling due after more than one year
(823,258)
Called up share capital
100
For the period ending 31 March 2024 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 21 August 2024 and were signed on its behalf by
Mark Smith
Director
Company Registration No. SC764371
Mark Smith Glazing Limited
Notes to the Accounts
for the period from 30 March 2023 to 31 March 2024
Mark Smith Glazing Limited is a private company, limited by shares, registered in Scotland, registration number SC764371. The registered office is 258 Portobello High Street, Edinburgh, Midlothian, EH15 2AT, Scotland.
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 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:
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
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.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Mark Smith Glazing Limited
Notes to the Accounts
for the period from 30 March 2023 to 31 March 2024
4
Intangible fixed assets
Goodwill
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
Additions
14,255
70,137
84,392
At 31 March 2024
14,255
70,137
84,392
At 30 March 2023
-
23,235
23,235
Charge for the period
4,654
-
4,654
At 31 March 2024
4,654
23,235
27,889
At 31 March 2024
9,601
46,902
56,503
Amounts falling due within one year
Accrued income and prepayments
5,383
Mark Smith Glazing Limited
Notes to the Accounts
for the period from 30 March 2023 to 31 March 2024
7
Creditors: amounts falling due within one year
2024
Obligations under finance leases and hire purchase contracts
10,246
Taxes and social security
97,869
Loans from directors
(17,147)
8
Creditors: amounts falling due after more than one year
2024
Obligations under finance leases and hire purchase contracts
23,258
9
Average number of employees
During the period the average number of employees was 15.