Registered number
SC487473
ELMBANK TRADERS LIMITED
Filleted Accounts
31 January 2024
ELMBANK TRADERS LIMITED
Registered number: SC487473
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 10,000 10,000
Tangible assets 4 13,827 15,363
23,827 25,363
Current assets
Stocks 20,275 14,750
Debtors 5 25,000 25,000
Cash at bank and in hand 8,945 11,878
54,220 51,628
Creditors: amounts falling due within one year 6 (32,669) (29,391)
Net current assets 21,551 22,237
Total assets less current liabilities 45,378 47,600
Creditors: amounts falling due after more than one year 7 (24,940) (35,588)
Provisions for liabilities - -
Net assets 20,438 12,012
Capital and reserves
Called up share capital 100 100
Share premium - -
Profit and loss account 20,338 11,912
Shareholders' funds 20,438 12,012
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
Mohammad Ayub
Director
Approved by the board on 1 August 2024
ELMBANK TRADERS LIMITED
Notes to the Accounts
for the year ended 31 January 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.
Intangible fixed assets
Intangible fixed assets are measured at cost.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at 10% reducing balance.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), 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. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 0
3 Intangible fixed assets £
Goodwill:
Cost
At 1 February 2023 10,000
Additions -
Disposals -
At 31 January 2024 10,000
Amortisation
At 1 February 2023 -
Provided during the year -
On disposals -
At 31 January 2024 -
Net book value
At 31 January 2024 10,000
At 31 January 2023 10,000
4 Tangible fixed assets
Fixtures & Fittings Motor vehicles Total
£ £ £
Cost
At 1 February 2023 24,849 437 25,286
Additions - - -
Surplus on revaluation - - -
Disposals - - -
At 31 January 2024 24,849 437 25,286
Depreciation
At 1 February 2023 9,674 249 9,923
Charge for the year 1,517 19 1,536
Surplus on revaluation - - -
On disposals - - -
At 31 January 2024 11,191 268 11,459
Net book value
At 31 January 2024 13,658 169 13,827
At 31 January 2023 15,175 188 15,363
5 Debtors 2024 2023
£ £
Other debtors 25,000 25,000
25,000 25,000
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors - 488
Accruals 2,890 3,140
Taxation and social security costs 20,658 14,743
Other creditors 9,121 11,020
32,669 29,391
7 Creditors: amounts falling due after one year 2024 2023
£ £
Non-equity preference shares - -
Bank loans 24,940 35,588
Other creditors - -
24,940 35,588
8 Other information
ELMBANK TRADERS LIMITED is a private company limited by shares and incorporated in Scotland. Its registered office is:
162 DARNLEY STREET
GLASGOW
G41 2LL
ELMBANK TRADERS LIMITED SC487473 false 2023-02-01 2024-01-31 2024-01-31 VT Final Accounts July 2024 Mohammad Ayub No description of principal activity SC487473 2022-02-01 2023-01-31 SC487473 core:WithinOneYear 2023-01-31 SC487473 core:AfterOneYear 2023-01-31 SC487473 core:ShareCapital 2023-01-31 SC487473 core:SharePremium 2023-01-31 SC487473 core:RetainedEarningsAccumulatedLosses 2023-01-31 SC487473 2023-02-01 2024-01-31 SC487473 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 SC487473 bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 SC487473 bus:Director40 2023-02-01 2024-01-31 SC487473 1 2023-02-01 2024-01-31 SC487473 2 2023-02-01 2024-01-31 SC487473 core:Goodwill 2023-02-01 2024-01-31 SC487473 core:PlantMachinery 2023-02-01 2024-01-31 SC487473 core:Vehicles 2023-02-01 2024-01-31 SC487473 countries:England 2023-02-01 2024-01-31 SC487473 bus:FRS102 2023-02-01 2024-01-31 SC487473 bus:FilletedAccounts 2023-02-01 2024-01-31 SC487473 2024-01-31 SC487473 core:WithinOneYear 2024-01-31 SC487473 core:AfterOneYear 2024-01-31 SC487473 core:ShareCapital 2024-01-31 SC487473 core:SharePremium 2024-01-31 SC487473 core:RetainedEarningsAccumulatedLosses 2024-01-31 SC487473 core:Goodwill 2024-01-31 SC487473 core:PlantMachinery 2024-01-31 SC487473 core:Vehicles 2024-01-31 SC487473 2023-01-31 SC487473 core:Goodwill 2023-01-31 SC487473 core:PlantMachinery 2023-01-31 SC487473 core:Vehicles 2023-01-31 iso4217:GBP xbrli:pure