Acorah Software Products - Accounts Production 15.0.600 false true false 27 February 2023 28 February 2024 28 February 2024 SC760309 Fraser Smith iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC760309 2023-02-26 SC760309 2024-02-28 SC760309 2023-02-27 2024-02-28 SC760309 frs-core:CurrentFinancialInstruments 2024-02-28 SC760309 frs-core:Non-currentFinancialInstruments 2024-02-28 SC760309 frs-core:LandBuildings 2024-02-28 SC760309 frs-core:LandBuildings 2023-02-27 2024-02-28 SC760309 frs-core:LandBuildings 2023-02-26 SC760309 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-02-27 2024-02-28 SC760309 frs-core:ShareCapital 2024-02-28 SC760309 frs-core:RetainedEarningsAccumulatedLosses 2024-02-28 SC760309 frs-bus:PrivateLimitedCompanyLtd 2023-02-27 2024-02-28 SC760309 frs-bus:FilletedAccounts 2023-02-27 2024-02-28 SC760309 frs-bus:SmallEntities 2023-02-27 2024-02-28 SC760309 frs-bus:AuditExempt-NoAccountantsReport 2023-02-27 2024-02-28 SC760309 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-27 2024-02-28 SC760309 frs-bus:Director1 2023-02-27 2024-02-28 SC760309 frs-countries:Scotland 2023-02-27 2024-02-28
Registered number: SC760309
Smudger Letting Co Limited
Unaudited Financial Statements
For The Year Ended 28 February 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: SC760309
2024
Notes £ £
FIXED ASSETS
Tangible Assets 4 50,944
50,944
CURRENT ASSETS
Cash at bank and in hand 66,426
66,426
Creditors: Amounts Falling Due Within One Year 5 (106,344 )
NET CURRENT ASSETS (LIABILITIES) (39,918 )
TOTAL ASSETS LESS CURRENT LIABILITIES 11,026
Creditors: Amounts Falling Due After More Than One Year 6 (42,777 )
NET LIABILITIES (31,751 )
CAPITAL AND RESERVES
Called up share capital 7 10
Profit and Loss Account (31,761 )
SHAREHOLDERS' FUNDS (31,751)
Page 1
Page 2
For the year ending 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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.
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
Fraser Smith
Director
03/09/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Smudger Letting Co Limited is a private company, limited by shares, incorporated in Scotland, registered number SC760309 . The registered office is 8 Percy Road, Renfrew, PA4 8AZ.
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 represents rentals received and is recognised on an accruals basis.
2.3. 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:
Freehold not depreciated
2.4. Financial Instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.  
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.  
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.  
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transactions costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.  
Impairment of financial assets
Financial assets are assessed for indicators of impairment at each reporting end date. 
Derecognition of financial assets 
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled.  
Basic financial liabilities 
Basic financial liabilities, including creditors, are initially recognised at transaction price and are subsequently carried at amortised cost using the effect interest method, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. 
2.5. Equity Instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. 
2.6. Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash at bank.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1
1
Page 3
Page 4
4. Tangible Assets
Land & Buildings
£
Cost
As at 27 February 2023 -
Additions 50,944
As at 28 February 2024 50,944
Net Book Value
As at 28 February 2024 50,944
As at 27 February 2023 -
5. Creditors: Amounts Falling Due Within One Year
2024
£
Bank loans and overdrafts 3,587
Other creditors 102,757
106,344
6. Creditors: Amounts Falling Due After More Than One Year
2024
£
Bank loans 42,777
Shawbrook Bank Limited holds a floating charge over the assets of the company in respect of a mortgage totalling £46,364 at the balance sheet date.
7. Share Capital
2024
£
Allotted, Called up and fully paid 10
Page 4