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REGISTERED NUMBER: SC030711 (Scotland)
















Unaudited Financial Statements

for the Year Ended 5 April 2024

for

Fenton & Smellie Limited

Fenton & Smellie Limited (Registered number: SC030711)






Contents of the Financial Statements
for the Year Ended 5 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Fenton & Smellie Limited

Company Information
for the Year Ended 5 April 2024







DIRECTOR: Mrs K G Pettigrew





REGISTERED OFFICE: Hillhead Cottage
Auchenairney
Kirkmichael
South Ayrshire
KA19 7PG





REGISTERED NUMBER: SC030711 (Scotland)





ACCOUNTANTS: Gillespie & Anderson
Chartered Accountants
147 Bath Street
Glasgow
G2 4SN

Fenton & Smellie Limited (Registered number: SC030711)

Balance Sheet
5 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investments 4 55,765 71,009

CURRENT ASSETS
Cash at bank 3,878 1,781

CREDITORS
Amounts falling due within one year 5 2,470 1,805
NET CURRENT ASSETS/(LIABILITIES) 1,408 (24 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

57,173

70,985

PROVISIONS FOR LIABILITIES 9,205 9,481
NET ASSETS 47,968 61,504

CAPITAL AND RESERVES
Called up share capital 3,000 3,000
Other reserves 7,000 7,000
Retained earnings 37,968 51,504
SHAREHOLDER FUNDS 47,968 61,504

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 14 November 2024 and were signed by:




Mrs K G Pettigrew - Director


Fenton & Smellie Limited (Registered number: SC030711)

Notes to the Financial Statements
for the Year Ended 5 April 2024

1. STATUTORY INFORMATION

Fenton & Smellie Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Going Concern
The financial statements are prepared on the going concern basis of accounting as, in the opinion of the director, there are no matters of material uncertainty which cast doubt on the company's ability to continue.

Significant judgements and estimates
In preparing the financial statements, the Director is required to make judgements, estimates and assumptions, based on historical experience and other relevant factors. Actual results may differ from these best estimates, which are reviewed on an ongoing basis. The significant items in the financial statements where these judgements are required (and the factors in play) include: debtors (likelihood of recovery), fixed assets (depreciation rates and useful lives) and the going concern basis of accounting

Financial instruments
The company has no complex financial instruments but does hold basic financial instruments of cash at bank, debtors and creditors.

Cash and cash equivalents comprise cash at bank and on hand, foreign currency on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. A bank overdraft would be shown within current liabilities.

Trade and other debtors are initially recognised at fair value and subsequently measured at amortised cost using the effective interest method, less losses for bad debts except where the effect of discounting would be immaterial. In such cases, trade and other debtors are stated at cost less losses for bad debts.

Trade and other creditors are initially recognised at fair value and subsequently measured at amortised cost using the effective interest rate unless the effect of discounting would be immaterial. In such cases, trade and other creditors are stated at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


Fenton & Smellie Limited (Registered number: SC030711)

Notes to the Financial Statements - continued
for the Year Ended 5 April 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.

Fixed asset investments
Listed fixed asset investments are shown at fair value in the financial statements with revaluation gains and losses included in the profit & loss account.

Provision for liabilities
A provision is initially recognised when there is an obligation at the balance sheet date as the result of a past event, it is probable that there will be the transfer of funds in settlement and the amount of the obligation can be estimated reliably. The provision is subsequently measured by placing a charge against the provision only for expenditure for which the provision was originally recognised.

3. EMPLOYEES AND DIRECTORS

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

4. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 6 April 2023 71,009
Disposals (1,970 )
Revaluations (13,274 )
At 5 April 2024 55,765
NET BOOK VALUE
At 5 April 2024 55,765
At 5 April 2023 71,009

The fixed asset investments are shown at fair value. The historical cost of the investments is £2,372 at 5 April 2024.

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 665 -
Other creditors 1,805 1,805
2,470 1,805