Registered number
SC536448
SUBWAY, BLANTYRE LTD
190 Main Street
Blantyre
Filleted Accounts
for the year ended 31 March 2024
Yousaf & Co Ltd
Chartered Certified Accountants
Registered Auditors
298-300 Maxwell Road
Glasgow
G41 1PJ
Ref: S487/TG
SUBWAY, BLANTYRE LTD
Registered number: SC536448
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 19,468 21,226
Current assets
Stocks 8,796 9,271
Debtors 4 15,006 14,161
Cash at bank and in hand 315 5,604
24,117 29,036
Creditors: amounts falling due within one year 5 (25,977) (21,889)
Net current (liabilities)/assets (1,860) 7,147
Total assets less current liabilities 17,608 28,373
Creditors: amounts falling due after more than one year 6 (58,692) (86,263)
Net assets/(liabilities) (41,084) (57,890)
Capital and reserves
Called up share capital 200 200
Profit and loss account (41,284) (58,090)
Shareholders' funds (41,084) (57,890)
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.
Shahid Razzaq
Director
Approved by the board on 18 November 2024
SUBWAY, BLANTYRE LTD
Notes to the Accounts
for the year ended 31 March 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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
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, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price).
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
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. 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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 11 9
3 Tangible fixed assets
Fixture & fittings
£
Cost
At 1 April 2023 34,276
Additions 405
At 31 March 2024 34,681
Depreciation
At 1 April 2023 13,050
Charge for the year 2,163
At 31 March 2024 15,213
Net book value
At 31 March 2024 19,468
At 31 March 2023 21,226
4 Debtors 2024 2023
£ £
Trade debtors 15,006 14,161
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 71 25
Taxation and social security costs 1,726 894
Other creditors 24,180 20,970
25,977 21,889
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 32,604 64,167
Director's loan account 26,088 22,096
58,692 86,263
SUBWAY, BLANTYRE LTD SC536448 false 2023-04-01 2024-03-31 2024-03-31 VT Final Accounts July 2024 Shahid Razzaq No description of principal activity SC536448 2022-04-01 2023-03-31 SC536448 core:WithinOneYear 2023-03-31 SC536448 core:AfterOneYear 2023-03-31 SC536448 core:ShareCapital 2023-03-31 SC536448 core:RetainedEarningsAccumulatedLosses 2023-03-31 SC536448 2023-04-01 2024-03-31 SC536448 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC536448 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 SC536448 bus:Director40 2023-04-01 2024-03-31 SC536448 1 2023-04-01 2024-03-31 SC536448 2 2023-04-01 2024-03-31 SC536448 core:PlantMachinery 2023-04-01 2024-03-31 SC536448 bus:FRS102 2023-04-01 2024-03-31 SC536448 bus:FilletedAccounts 2023-04-01 2024-03-31 SC536448 2024-03-31 SC536448 core:WithinOneYear 2024-03-31 SC536448 core:AfterOneYear 2024-03-31 SC536448 core:ShareCapital 2024-03-31 SC536448 core:RetainedEarningsAccumulatedLosses 2024-03-31 SC536448 core:PlantMachinery 2024-03-31 SC536448 2023-03-31 SC536448 core:PlantMachinery 2023-03-31 iso4217:GBP xbrli:pure