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REGISTERED NUMBER: 05445731 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

FOR

SCOTT JAMES OF LYTHAM LIMITED

SCOTT JAMES OF LYTHAM LIMITED (REGISTERED NUMBER: 05445731)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SCOTT JAMES OF LYTHAM LIMITED

COMPANY INFORMATION
for the year ended 31 May 2024







DIRECTORS: Mr S J Clayton
Mrs J M Clayton





SECRETARY: Mrs J M Clayton





REGISTERED OFFICE: 17 St Peters Place
Fleetwood
Lancashire
FY7 6EB





REGISTERED NUMBER: 05445731 (England and Wales)





ACCOUNTANTS: Jones Harris Limited
17 St Peters Place
Fleetwood
Lancashire
FY7 6EB

SCOTT JAMES OF LYTHAM LIMITED (REGISTERED NUMBER: 05445731)

BALANCE SHEET
31 May 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 42,926 43,903

CURRENT ASSETS
Stocks 5 169,000 267,863
Debtors 6 10,500 9,500
Cash at bank 33,114 26,243
212,614 303,606
CREDITORS
Amounts falling due within one year 7 (181,565 ) (177,743 )
NET CURRENT ASSETS 31,049 125,863
TOTAL ASSETS LESS CURRENT
LIABILITIES

73,975

169,766

CREDITORS
Amounts falling due after more than one
year

8

(19,513

)

(93,963

)

PROVISIONS FOR LIABILITIES (1,051 ) (1,238 )
NET ASSETS 53,411 74,565

CAPITAL AND RESERVES
Called up share capital 50 50
Retained earnings 53,361 74,515
SHAREHOLDERS' FUNDS 53,411 74,565

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

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

The directors acknowledge their 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.

SCOTT JAMES OF LYTHAM LIMITED (REGISTERED NUMBER: 05445731)

BALANCE SHEET - continued
31 May 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 Board of Directors and authorised for issue on 4 September 2024 and were signed on its behalf by:





Mr S J Clayton - Director


SCOTT JAMES OF LYTHAM LIMITED (REGISTERED NUMBER: 05445731)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 May 2024

1. STATUTORY INFORMATION

Scott James Of Lytham Limited is a private company, limited by shares , registered in England and Wales. 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 represents sales of goods net of VAT and trade discounts. Turnover is recognised when the goods are physically delivered to the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - not provided
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on cost

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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Going concern
The directors have made an assessment of going concern, considering the Company's cash and liquidity position, current performance and outlook. The directors have a reasonable expectation that the company has adequate resources to continue in existence for the foreseeable future and for at least 12 months from the date that these Financial statements are approved. Therefore, the company continues to adopt the going concern basis in preparing the Financial statements

SCOTT JAMES OF LYTHAM LIMITED (REGISTERED NUMBER: 05445731)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 May 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 June 2023
and 31 May 2024 37,391 17,172 8,565 63,128
DEPRECIATION
At 1 June 2023 - 10,660 8,565 19,225
Charge for year - 977 - 977
At 31 May 2024 - 11,637 8,565 20,202
NET BOOK VALUE
At 31 May 2024 37,391 5,535 - 42,926
At 31 May 2023 37,391 6,512 - 43,903

5. STOCKS
2024 2023
£    £   
Stocks 169,000 267,863

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 10,000 9,000
Prepayments 500 500
10,500 9,500

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 118,235 69,555
Trade creditors 2,999 7,500
Tax 6,392 31,658
VAT 10,914 18,203
Other creditors 33,650 43,695
Directors' current accounts 455 16
Accruals and deferred income 8,920 7,116
181,565 177,743

SCOTT JAMES OF LYTHAM LIMITED (REGISTERED NUMBER: 05445731)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 May 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 19,513 93,963

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 May 2024 and 31 May 2023:

2024 2023
£    £   
Mr S J Clayton and Mrs J M Clayton
Balance outstanding at start of year - 109,623
Amounts advanced 105,979 75,507
Amounts repaid (105,979 ) (185,130 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

The loan to the director was unsecured and repayable on demand. Interest is payable at the HMRC rate applicable to beneficial loan arrangements.

10. RELATED PARTY DISCLOSURES

During the year, total dividends of £20,000 (2023 - £43,800) were paid to the directors .