2023-07-012024-06-302024-06-30falseSC381387ARDMOOR 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ARDMOOR LIMITED

Registered Number
SC381387
(Scotland)

Unaudited Financial Statements for the Year ended
30 June 2024

ARDMOOR LIMITED
Company Information
for the year from 1 July 2023 to 30 June 2024

Directors

PATTEN, Timothy
STODART, Anthony Michael Kinnaird
THOMAS, Benjamin Robert

Registered Address

The Granary
Kingston
North Berwick
EH39 5LT

Registered Number

SC381387 (Scotland)
ARDMOOR LIMITED
Balance Sheet as at
30 June 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets35,83922,712
Tangible assets48,7488,482
14,58731,194
Current assets
Stocks5620,099462,087
Debtors22,24930,249
Cash at bank and on hand8,095120,244
650,443612,580
Creditors amounts falling due within one year6(424,987)(339,319)
Net current assets (liabilities)225,456273,261
Total assets less current liabilities240,043304,455
Creditors amounts falling due after one year7(859,800)(868,076)
Net assets(619,757)(563,621)
Capital and reserves
Called up share capital1,9231,923
Share premium269,077269,077
Profit and loss account(890,757)(834,621)
Shareholders' funds(619,757)(563,621)
The financial statements were approved and authorised for issue by the Board of Directors on 26 November 2024, and are signed on its behalf by:
STODART, Anthony Michael Kinnaird
Director
Registered Company No. SC381387
ARDMOOR LIMITED
Notes to the Financial Statements
for the year ended 30 June 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
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).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Turnover policy
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.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is at 20% straight line and is included in 'depreciation expenses' in the profit and loss account.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)Straight line (years)
Plant and machinery-4
Fixtures and fittings25-
Office Equipment25-
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
Related parties
For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified.
2.Average number of employees

20242023
Average number of employees during the year910
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 July 2395,27395,273
Additions2,5902,590
At 30 June 2497,86397,863
Amortisation and impairment
At 01 July 2372,56172,561
Charge for year19,46319,463
At 30 June 2492,02492,024
Net book value
At 30 June 245,8395,839
At 30 June 2322,71222,712
4.Tangible fixed assets

Fixtures & fittings

Office Equipment

Total

£££
Cost or valuation
At 01 July 2321,50823,14844,656
Additions1,5651,4272,992
At 30 June 2423,07324,57547,648
Depreciation and impairment
At 01 July 2317,77318,40136,174
Charge for year1,2231,5032,726
At 30 June 2418,99619,90438,900
Net book value
At 30 June 244,0774,6718,748
At 30 June 233,7354,7478,482
5.Stocks

2024

2023

££
Finished goods620,099462,087
Total620,099462,087
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables115,257143,854
Bank borrowings and overdrafts296,320180,000
Taxation and social security8,4212,429
Other creditors1,8264,509
Accrued liabilities and deferred income3,1638,527
Total424,987339,319
7.Creditors: amounts due after one year

2024

2023

££
Other creditors859,800868,076
Total859,800868,076
8.Related party transactions
At the year end, the company owed Anthony Stodart £859,800 (2023: £868,076). The loan will be repaid when there are sufficient profits available. There is no interest on the loan.