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REGISTERED NUMBER: SC269543 (Scotland)
















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Ronald H Smith and Co. Ltd

Ronald H Smith and Co. Ltd (Registered number: SC269543)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Ronald H Smith and Co. Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTOR: R H Smith





SECRETARY: Mrs S L Smith





REGISTERED OFFICE: c/o McLay McAlister & McGibbon LLP
145 St Vincent Street
Glasgow
G2 5JF





REGISTERED NUMBER: SC269543 (Scotland)





ACCOUNTANTS: McLay McAlister & McGibbon LLP
Chartered Accountants
145 St Vincent Street
Glasgow
G2 5JF

Ronald H Smith and Co. Ltd (Registered number: SC269543)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 495 661
495 661

CURRENT ASSETS
Debtors 6 8,310 7,027
Cash at bank and in hand 10 27,665
8,320 34,692
CREDITORS
Amounts falling due within one year 7 (227,047 ) (220,959 )
NET CURRENT LIABILITIES (218,727 ) (186,267 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(218,232

)

(185,606

)

CREDITORS
Amounts falling due after more than one
year

8

(30,556

)

(36,112

)

PROVISIONS FOR LIABILITIES (94 ) (126 )
NET LIABILITIES (248,882 ) (221,844 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (248,884 ) (221,846 )
SHAREHOLDERS' FUNDS (248,882 ) (221,844 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Ronald H Smith and Co. Ltd (Registered number: SC269543)

Balance Sheet - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 9 January 2025 and were signed by:





R H Smith - Director


Ronald H Smith and Co. Ltd (Registered number: SC269543)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Ronald H Smith and Co. Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The accounts have been prepared on a going concern basis as this was considered appropriate by the director.

Turnover
Turnover represents sales of financial services

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

The company's policy is to review the remaining useful lives and residual value of all tangible fixed assets on an on-going basis and to adjust the depreciation charge to reflect the remaining useful economic life and residual value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Ronald H Smith and Co. Ltd (Registered number: SC269543)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 30,000
AMORTISATION
At 1 April 2023
and 31 March 2024 30,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 17,634
DEPRECIATION
At 1 April 2023 16,973
Charge for year 166
At 31 March 2024 17,139
NET BOOK VALUE
At 31 March 2024 495
At 31 March 2023 661

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 8,310 1,786
Other debtors - 5,241
8,310 7,027

Ronald H Smith and Co. Ltd (Registered number: SC269543)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 4,275 -
Taxation and social security 25,029 32,709
Other creditors 197,743 188,250
227,047 220,959

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Other creditors 30,556 36,112

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 8,336 13,892

9. RELATED PARTY DISCLOSURES

Included within Other Creditors is a balance of £194 (2023: Other Debtor of £5,241) due from the director. This loan is interest free.