Acorah Software Products - Accounts Production 16.0.110 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 SC267250 Mrs Amanda Paxton Mr Brian Paxton iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC267250 2023-03-31 SC267250 2024-03-31 SC267250 2023-04-01 2024-03-31 SC267250 frs-core:Non-currentFinancialInstruments 2024-03-31 SC267250 frs-core:ComputerEquipment 2023-04-01 2024-03-31 SC267250 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 SC267250 frs-core:MotorVehicles 2023-04-01 2024-03-31 SC267250 frs-core:PlantMachinery 2023-04-01 2024-03-31 SC267250 frs-core:ShareCapital 2024-03-31 SC267250 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 SC267250 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC267250 frs-bus:AbridgedAccounts 2023-04-01 2024-03-31 SC267250 frs-bus:SmallEntities 2023-04-01 2024-03-31 SC267250 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 SC267250 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 SC267250 frs-bus:Director1 2023-04-01 2024-03-31 SC267250 frs-bus:Director2 2023-04-01 2024-03-31 SC267250 frs-countries:Scotland 2023-04-01 2024-03-31 SC267250 2022-03-31 SC267250 2023-03-31 SC267250 2022-04-01 2023-03-31 SC267250 frs-core:Non-currentFinancialInstruments 2023-03-31 SC267250 frs-core:ShareCapital 2023-03-31 SC267250 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: SC267250
Paxton Scrap Metals Ltd.
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—4
Page 1
Abridged Balance Sheet
Registered number: SC267250
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 4,299 4,030
4,299 4,030
CURRENT ASSETS
Stocks 42,590 27,450
Debtors 25,602 -
Cash at bank and in hand 30,067 100,584
98,259 128,034
Creditors: Amounts Falling Due Within One Year (1,301 ) (1,593 )
NET CURRENT ASSETS (LIABILITIES) 96,958 126,441
TOTAL ASSETS LESS CURRENT LIABILITIES 101,257 130,471
Creditors: Amounts Falling Due After More Than One Year (58,350 ) (52,177 )
NET ASSETS 42,907 78,294
CAPITAL AND RESERVES
Called up share capital 5 100 100
Profit and Loss Account 42,807 78,194
SHAREHOLDERS' FUNDS 42,907 78,294
Page 1
Page 2
For the year ending 31 March 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 March 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Brian Paxton
Director
15/11/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
Paxton Scrap Metals Ltd. is a private company, limited by shares, incorporated in Scotland, registered number SC267250 . The registered office is 18 Greenburn, East Fortune, North Berwick, East Lothian, EH39 5LE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 10% Straight line
Plant & Machinery 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
Computer Equipment 25% Reducing Balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Total
£
Cost
As at 1 April 2023 121,648
Additions 3,915
Disposals (35,500 )
As at 31 March 2024 90,063
...CONTINUED
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Page 4
Depreciation
As at 1 April 2023 117,618
Provided during the period 1,433
Disposals (33,287 )
As at 31 March 2024 85,764
Net Book Value
As at 31 March 2024 4,299
As at 1 April 2023 4,030
5. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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