Registered number
SC589492
COMMERCIAL AND ASSET LENDING LTD
Filleted Accounts
31 March 2024
COMMERCIAL AND ASSET LENDING LTD
Registered number: SC589492
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Current assets
Debtors 3 110,380 124,210
Cash at bank and in hand 1,145 213
111,525 124,423
Creditors: amounts falling due within one year 4 (16,103) (15,232)
Net current assets 95,422 109,191
Total assets less current liabilities 95,422 109,191
Creditors: amounts falling due after more than one year 5 (74,091) (87,833)
Net assets 21,331 21,358
Capital and reserves
Called up share capital 10 10
Profit and loss account 21,321 21,348
Shareholder's funds 21,331 21,358
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Blair Michie
Director
Approved by the board on 5 September 2024
COMMERCIAL AND ASSET LENDING LTD
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Debtors 2024 2023
£ £
Trade debtors 110,380 124,138
Other debtors - 72
110,380 124,210
4 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs - 1,966
Other creditors 16,103 13,266
16,103 15,232
5 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 74,091 87,833
6 Other information
COMMERCIAL AND ASSET LENDING LTD is a private company limited by shares and incorporated in Scotland. Its registered office is:
Violet House
3 Violet Street
Paisley
PA3 3AT
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