Company Registration No. 07217750 (England and Wales)
SCOTTS OF WHITTINGTON LIMITED
Unaudited accounts
for the year ended 30 April 2024
SCOTTS OF WHITTINGTON LIMITED
Unaudited accounts
Contents
SCOTTS OF WHITTINGTON LIMITED
Company Information
for the year ended 30 April 2024
Directors
A Wood
C Wood
K Wood
MH Wood
Company Number
07217750 (England and Wales)
Registered Office
Great Whittington
Newcastle upon Tyne
NE19 2HP
Accountants
MALLON:TAX
PO Box 238
Houghton le Spring
Co Durham
DH4 9ES
SCOTTS OF WHITTINGTON LIMITED
Statement of financial position
as at 30 April 2024
Tangible assets
279,586
295,465
Cash at bank and in hand
1,172,971
895,518
Creditors: amounts falling due within one year
(277,866)
(231,165)
Net current assets
990,956
813,179
Total assets less current liabilities
1,270,542
1,108,644
Provisions for liabilities
Deferred tax
(67,270)
(73,866)
Net assets
1,203,272
1,034,778
Called up share capital
100
100
Profit and loss account
1,203,172
1,034,678
Shareholders' funds
1,203,272
1,034,778
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 15 October 2024 and were signed on its behalf by
MH Wood
Director
Company Registration No. 07217750
SCOTTS OF WHITTINGTON LIMITED
Notes to the Accounts
for the year ended 30 April 2024
SCOTTS OF WHITTINGTON LIMITED is a private company, limited by shares, registered in England and Wales, registration number 07217750. The registered office is Great Whittington, Newcastle upon Tyne, NE19 2HP.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
20% straight line
Plant & machinery
20% straight line
Motor vehicles
20% straight line
Computer equipment
20% straight line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
SCOTTS OF WHITTINGTON LIMITED
Notes to the Accounts
for the year ended 30 April 2024
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 May 2023
25,807
634,804
114,144
3,287
778,042
Additions
-
58,638
40,275
837
99,750
Disposals
-
(40,202)
(30,200)
-
(70,402)
At 30 April 2024
25,807
653,240
124,219
4,124
807,390
At 1 May 2023
10,142
380,424
88,724
3,287
482,577
Charge for the year
5,161
83,923
18,080
139
107,303
Surplus on revaluation
-
(31,876)
-
-
(31,876)
On disposals
-
-
(30,200)
-
(30,200)
At 30 April 2024
15,303
432,471
76,604
3,426
527,804
At 30 April 2024
10,504
220,769
47,615
698
279,586
At 30 April 2023
15,665
254,380
25,420
-
295,465
Amounts falling due within one year
Trade debtors
36,477
61,654
Accrued income and prepayments
10,727
11,406
6
Creditors: amounts falling due within one year
2024
2023
Trade creditors
63,466
118,600
Taxes and social security
82,867
23,955
Loans from directors
76,121
100,570
SCOTTS OF WHITTINGTON LIMITED
Notes to the Accounts
for the year ended 30 April 2024
7
Deferred taxation
2024
2023
Accelerated capital allowances
67,270
73,866
Provision at start of year
73,866
54,922
(Credited)/charged to the profit and loss account
(6,596)
18,944
Provision at end of year
67,270
73,866
8
Transactions with related parties
At 30 April 2024, the directors were owed the following amounts by the company
Mr A Wood: £7,041 (2023:£12,585)
Mrs MH Wood: £12,637 (2023: £16,920)
Mr C Wood: £36,527 (2023:42,704)
Mr K Wood: £19,916 (2023:£28,361)
All loans are interest free and repayable on demand
9
Average number of employees
During the year the average number of employees was 7 (2023: 7).