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REGISTERED NUMBER: SC392161 (Scotland)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

Conveyorworks Ltd

Conveyorworks Ltd (Registered number: SC392161)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Conveyorworks Ltd

Company Information
for the Year Ended 31 January 2024







DIRECTOR: C Wardrope





REGISTERED OFFICE: 10 Clearfield Avenue
Hamilton
ML3 9BU





REGISTERED NUMBER: SC392161 (Scotland)





ACCOUNTANTS: Dunellan Accountancy Limited
24 Chapel Street
Airdrie
ML6 6LG

Conveyorworks Ltd (Registered number: SC392161)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 117,378 99,407

CURRENT ASSETS
Stocks 5 39,760 33,550
Debtors 6 164,069 163,976
Cash at bank and in hand 152,139 147,693
355,968 345,219
CREDITORS
Amounts falling due within one year 7 168,098 157,914
NET CURRENT ASSETS 187,870 187,305
TOTAL ASSETS LESS CURRENT
LIABILITIES

305,248

286,712

CREDITORS
Amounts falling due after more than one
year

8

(40,686

)

(34,812

)

PROVISIONS FOR LIABILITIES (22,259 ) (1,807 )
NET ASSETS 242,303 250,093

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 242,301 250,091
SHAREHOLDERS' FUNDS 242,303 250,093

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Conveyorworks Ltd (Registered number: SC392161)

Balance Sheet - continued
31 January 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 17 September 2024 and were signed by:





C Wardrope - Director


Conveyorworks Ltd (Registered number: SC392161)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Conveyorworks Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 5% on cost
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Conveyorworks Ltd (Registered number: SC392161)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

The charge for the year was £13,935 (2023 £10,139).

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 February 2023 2,667 195,237 18,575 16,140 232,619
Additions - 14,420 34,567 745 49,732
At 31 January 2024 2,667 209,657 53,142 16,885 282,351
DEPRECIATION
At 1 February 2023 167 117,994 5,224 9,827 133,212
Charge for year 133 18,900 11,260 1,468 31,761
At 31 January 2024 300 136,894 16,484 11,295 164,973
NET BOOK VALUE
At 31 January 2024 2,367 72,763 36,658 5,590 117,378
At 31 January 2023 2,500 77,243 13,351 6,313 99,407

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 February 2023 21,375 18,575 39,950
Additions - 34,567 34,567
At 31 January 2024 21,375 53,142 74,517
DEPRECIATION
At 1 February 2023 7,348 5,224 12,572
Charge for year 3,507 11,260 14,767
At 31 January 2024 10,855 16,484 27,339
NET BOOK VALUE
At 31 January 2024 10,520 36,658 47,178
At 31 January 2023 14,027 13,351 27,378

Conveyorworks Ltd (Registered number: SC392161)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

5. STOCKS
31.1.24 31.1.23
£    £   
Stocks 39,760 33,550

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 161,140 160,747
Other debtors - 300
Prepayments 2,929 2,929
164,069 163,976

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 15,280 15,280
Hire purchase contracts 14,988 16,428
Trade creditors 86,064 71,842
Tax 26,045 27,275
Social security and other taxes 580 3,583
VAT 15,157 13,660
Other creditors 1,188 3,024
Accrued expenses 8,796 6,822
168,098 157,914

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans - 1-2 years 12,837 18,259
Bank loans - 2-5 years - 8,946
Hire purchase contracts 27,849 7,607
40,686 34,812

9. SECURED DEBTS

The following secured debts are included within creditors:

31.1.24 31.1.23
£    £   
Bank loans 28,117 42,485
Hire purchase contracts 42,837 24,035
70,954 66,520

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is C Wardrope.