Registered number
SC649874
ALI & SONS OATLANDS LIMITED
Filleted Accounts
31 March 2024
ALI & SONS OATLANDS LIMITED
Registered number: SC649874
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 61,934 67,583
61,934 67,583
Current assets
Stocks 19,780 18,825
Debtors 4 1,134 1,814
Cash at bank and in hand 10,265 10,348
31,179 30,987
Creditors: amounts falling due within one year 5 (42,387) (49,382)
Net current liabilities (11,208) (18,395)
Total assets less current liabilities 50,726 49,188
Creditors: amounts falling due after more than one year 6 (36,231) (46,190)
Provisions for liabilities - -
Net assets 14,495 2,998
Capital and reserves
Called up share capital 100 100
Share premium - -
Profit and loss account 14,395 2,898
Shareholders' funds 14,495 2,998
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.
Taiyub Rasul
Director
Approved by the board on 21 November 2024
ALI & SONS OATLANDS LIMITED
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.
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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
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 5 5
3 Tangible fixed assets
Fixtures & Fittings Equipment Motor vehicles Total
£ £ £ £
Cost
At 1 April 2023 51,400 - 23,692 75,092
Additions 383 850 - 1,233
Surplus on revaluation - - - -
Disposals - - - -
At 31 March 2024 51,783 850 23,692 76,325
Depreciation
At 1 April 2023 5,140 - 2,369 7,509
Charge for the year 4,664 85 2,133 6,882
Surplus on revaluation - - - -
On disposals - - - -
At 31 March 2024 9,804 85 4,502 14,391
Net book value
At 31 March 2024 41,979 765 19,190 61,934
At 31 March 2023 46,260 - 21,323 67,583
Freehold land and buildings: 2024 2023
£ £
Historical cost - -
Cumulative depreciation based on historical cost - -
- -
[For revalued assets, state the years in which the assets were valued and their values. For assets revalued during the reporting period, state the names of the persons who revalued them or particulars of their qualifications for doing so and the bases of valuation used by them.]
4 Debtors 2024 2023
£ £
Trade debtors - -
Amounts owed by group undertakings and undertakings in which the company has a participating interest - -
Deferred tax asset - -
Other debtors 1,134 1,814
1,134 1,814
Amounts due after more than one year included above - -
5 Creditors: amounts falling due within one year 2024 2023
£ £
Non-equity preference shares - -
Bank loans and overdrafts - -
Obligations under finance lease and hire purchase contracts - -
Trade creditors 6,673 23,807
Accruals 1,800 -
Taxation and social security costs 22,759 14,444
Other creditors 11,155 11,131
42,387 49,382
6 Creditors: amounts falling due after one year 2024 2023
£ £
Non-equity preference shares - -
Bank loans 24,972 28,176
Obligations under finance lease and hire purchase contracts 11,259 18,014
Trade creditors - -
Amounts owed to group undertakings and undertakings in which the company has a participating interest - -
Other creditors - -
36,231 46,190
7 Other information
ALI & SONS OATLANDS LIMITED is a private company limited by shares and incorporated in Scotland. Its registered office is:
162 DARNLEY STREET
GLASGOW
G41 2LL
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