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REGISTERED NUMBER: SC236982 (Scotland)















Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Manson Smith Joiners Ltd.

Manson Smith Joiners Ltd. (Registered number: SC236982)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Manson Smith Joiners Ltd.

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mr M Smith
Mr S M Smith
Mrs J Smith





REGISTERED OFFICE: Langfield House
Longside
Peterhead
Aberdeenshire
AB42 3ED





REGISTERED NUMBER: SC236982 (Scotland)





ACCOUNTANTS: SBP
Accountants
2 Cross Street
Fraserburgh
Aberdeenshire
AB43 9EQ

Manson Smith Joiners Ltd. (Registered number: SC236982)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 124,902 96,649

CURRENT ASSETS
Stocks 900 19,414
Debtors 5 109,079 11,443
Cash at bank - 92,118
109,979 122,975
CREDITORS
Amounts falling due within one year 6 91,223 135,289
NET CURRENT ASSETS/(LIABILITIES) 18,756 (12,314 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

143,658

84,335

CREDITORS
Amounts falling due after more than one
year

7

(44,933

)

(12,375

)

PROVISIONS FOR LIABILITIES 8 (28,964 ) (23,196 )
NET ASSETS 69,761 48,764

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 69,751 48,754
SHAREHOLDERS' FUNDS 69,761 48,764

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

Manson Smith Joiners Ltd. (Registered number: SC236982)

Balance Sheet - continued
31 December 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2024 and were signed on its behalf by:





Mrs J Smith - Director


Manson Smith Joiners Ltd. (Registered number: SC236982)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Manson Smith Joiners 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 represents net invoiced work done in respect of the provision of joinery and related building services, excluding value added tax. Work in progress is recognised and included in turnover when the value of work completed can be established with a reasonable degree of certainty and when payment could reasonably be expected to be obtained.

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.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Tangible fixed assets are included at cost less depreciation and impairment. The residual value is reassessed at the end of each accounting period.

Stock & work in progress
Stock of materials and work in progress are valued at the lower of cost and net realisable value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Manson Smith Joiners Ltd. (Registered number: SC236982)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 182,337 1,079 52,450 2,181 238,047
Additions 17,730 - 53,877 - 71,607
Disposals (43,200 ) - (28,700 ) - (71,900 )
At 31 December 2023 156,867 1,079 77,627 2,181 237,754
DEPRECIATION
At 1 January 2023 98,261 1,079 40,088 1,970 141,398
Charge for year 14,152 - 14,856 70 29,078
Eliminated on disposal (35,738 ) - (21,886 ) - (57,624 )
At 31 December 2023 76,675 1,079 33,058 2,040 112,852
NET BOOK VALUE
At 31 December 2023 80,192 - 44,569 141 124,902
At 31 December 2022 84,076 - 12,362 211 96,649

Manson Smith Joiners Ltd. (Registered number: SC236982)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS - continued

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 January 2023 64,850 - 64,850
Additions - 53,877 53,877
Transfer to ownership (17,850 ) - (17,850 )
At 31 December 2023 47,000 53,877 100,877
DEPRECIATION
At 1 January 2023 17,240 - 17,240
Charge for year 5,744 13,469 19,213
Transfer to ownership (8,532 ) - (8,532 )
At 31 December 2023 14,452 13,469 27,921
NET BOOK VALUE
At 31 December 2023 32,548 40,408 72,956
At 31 December 2022 47,610 - 47,610

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 108,724 11,443
Other debtors 355 -
109,079 11,443

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 2,344 -
Hire purchase contracts 22,473 8,356
Trade creditors 11,331 46,052
Taxation and social security 35,873 48,118
Other creditors 19,202 32,763
91,223 135,289

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts 44,933 12,375

Manson Smith Joiners Ltd. (Registered number: SC236982)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax 28,964 23,196

Deferred
tax
£   
Balance at 1 January 2023 23,196
Provided during year 5,768
Balance at 31 December 2023 28,964

9. RELATED PARTY DISCLOSURES

The Director operates a current account with the company and as at 31 December 2023 the amount owing to him by the company was £14,673 (2022: £28,559). There are no fixed terms of repayment and no interest is accrued.

A balance of £359 (2022 £359) was also owing to Mrs J.Smith who was appointed as a director of the company on 1st October 2022. There are no fixed terms of repayment and no interest is accrued.

Included in Sub contractors are costs of £nil (2022 - £29,419) from SMS Plant Hire, a sole trader operated by the director Mr S M Smith. Sales income includes charges of £5,763 to SMS Plant Hire for the provision of digger hire and materials.

10. ULTIMATE CONTROLLING PARTY

The company is controlled by the director, Mr M Smith.