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REGISTERED NUMBER: SC292634 (Scotland)















Smiffy's (Aviemore) Ltd.

Unaudited Financial Statements

for the Year Ended 31 January 2024






Smiffy's (Aviemore) Ltd. (Registered number: SC292634)






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




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


Smiffy's (Aviemore) Ltd.

Company Information
for the Year Ended 31 January 2024







DIRECTORS: Mr A Smith
Mr J Smith
Mrs J Smith





SECRETARY: Mr A Smith





REGISTERED OFFICE: Unit 2/3 Grampian Road
Aviemore
Inverness-shire
PH22 1RR





REGISTERED NUMBER: SC292634 (Scotland)





ACCOUNTANTS: Grenfell James Associates Limited
13 The Courtyard
Timothys Bridge Road
Stratford upon Avon
Warwickshire
CV37 9NP

Smiffy's (Aviemore) Ltd. (Registered number: SC292634)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 164,478 157,840
164,478 157,840

CURRENT ASSETS
Stocks 19,911 5,900
Debtors 6 57,700 25,419
Cash at bank 414,212 485,763
491,823 517,082
CREDITORS
Amounts falling due within one year 7 161,519 180,866
NET CURRENT ASSETS 330,304 336,216
TOTAL ASSETS LESS CURRENT
LIABILITIES

494,782

494,056

CREDITORS
Amounts falling due after more than one
year

8

(15,222

)

(35,523

)

PROVISIONS FOR LIABILITIES (25,349 ) (29,229 )
NET ASSETS 454,211 429,304

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 454,111 429,204
454,211 429,304

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 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.

Smiffy's (Aviemore) Ltd. (Registered number: SC292634)

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 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 16 September 2024 and were signed on its behalf by:





Mr A Smith - Director


Smiffy's (Aviemore) Ltd. (Registered number: SC292634)

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

1. STATUTORY INFORMATION

Smiffy's (Aviemore) 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% Straight Line
Plant and machinery - 20% on reducing balance
Motor vehicles - 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 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.


Smiffy's (Aviemore) Ltd. (Registered number: SC292634)

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

2. ACCOUNTING POLICIES - continued
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.

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 30 (2023 - 30 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2023
and 31 January 2024 320,805
AMORTISATION
At 1 February 2023
and 31 January 2024 320,805
NET BOOK VALUE
At 31 January 2024 -
At 31 January 2023 -

Smiffy's (Aviemore) Ltd. (Registered number: SC292634)

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

5. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 February 2023 58,257 352,443 116,541 527,241
Additions - 27,231 28,082 55,313
Disposals - - (25,230 ) (25,230 )
At 31 January 2024 58,257 379,674 119,393 557,324
DEPRECIATION
At 1 February 2023 58,257 263,025 48,119 369,401
Charge for year - 21,659 20,031 41,690
Eliminated on disposal - - (18,245 ) (18,245 )
At 31 January 2024 58,257 284,684 49,905 392,846
NET BOOK VALUE
At 31 January 2024 - 94,990 69,488 164,478
At 31 January 2023 - 89,418 68,422 157,840

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,048 -
Other debtors 56,652 25,419
57,700 25,419

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 11,333 12,366
Trade creditors 48,294 47,598
Taxation and social security 83,090 105,849
Other creditors 8,802 5,053
161,519 180,866

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 13,333 23,333
Hire purchase contracts 1,889 12,190
15,222 35,523