Registered number
SC442259
MADDISTON TRADERS LIMITED
Filleted Accounts
28 February 2024
MADDISTON TRADERS LIMITED
Registered number: SC442259
Balance Sheet
as at 28 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 60,439 45,339
60,439 45,339
Current assets
Stocks 47,405 45,875
Cash at bank and in hand 262,040 204,568
309,445 250,443
Creditors: amounts falling due within one year 4 (79,632) (80,348)
Net current assets 229,813 170,095
Total assets less current liabilities 290,252 215,434
Creditors: amounts falling due after more than one year 5 (30,833) (40,833)
Provisions for liabilities - -
Net assets 259,419 174,601
Capital and reserves
Called up share capital 100 100
Share premium - -
Profit and loss account 259,319 174,501
Shareholders' funds 259,419 174,601
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.
Saeed Sardar
Director
Approved by the board on 22 November 2024
MADDISTON TRADERS LIMITED
Notes to the Accounts
for the year ended 28 February 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.
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.
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 10 10
3 Tangible fixed assets
Fixtures & Fittings Equipment Motor vehicles Total
£ £ £ £
Cost
At 1 March 2023 43,707 18,541 16,496 78,744
Additions 1,897 - 29,660 31,557
Surplus on revaluation - - - -
Disposals - - (16,496) (16,496)
At 28 February 2024 45,604 18,541 29,660 93,805
Depreciation
At 1 March 2023 23,508 3,143 6,754 33,405
Charge for the year 2,209 1,540 2,966 6,715
Surplus on revaluation - - - -
On disposals - - (6,754) (6,754)
At 28 February 2024 25,717 4,683 2,966 33,366
Net book value
At 28 February 2024 19,887 13,858 26,694 60,439
At 28 February 2023 20,199 15,398 9,742 45,339
4 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors - 22,473
Amounts owed to group undertakings and undertakings in which the company has a participating interest 1,080 1,080
Taxation and social security costs 48,087 26,330
Other creditors 30,465 30,465
79,632 80,348
5 Creditors: amounts falling due after one year 2024 2023
£ £
Non-equity preference shares - -
Bank loans 30,833 40,833
Other creditors - -
30,833 40,833
6 Other information
MADDISTON TRADERS LIMITED is a private company limited by shares and incorporated in. Its registered office is:
162 DARNLEY STREET
GLASGOW
G41 2LL
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