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REGISTERED NUMBER: SC144025 (Scotland)












Financial Statements

for the Year Ended 30 April 2024

for

San Marco (Scotland) Ltd.

San Marco (Scotland) Ltd. (Registered number: SC144025)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


San Marco (Scotland) Ltd.

Company Information
for the Year Ended 30 April 2024







DIRECTORS: Mrs J Doherty
A Matheson





REGISTERED OFFICE: Radleigh House
1 Golf Road
Clarkston
Glasgow
G76 7HU





REGISTERED NUMBER: SC144025 (Scotland)





ACCOUNTANTS: O'Haras Chartered Accountants
Radleigh House
1 Golf Road
Clarkston
Glasgow
G76 7HU

San Marco (Scotland) Ltd. (Registered number: SC144025)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 29,453 26,232

CURRENT ASSETS
Stocks 10,000 5,697
Debtors 4 11,889 18,799
Cash at bank 98,971 170,004
120,860 194,500
CREDITORS
Amounts falling due within one year 5 131,757 174,262
NET CURRENT (LIABILITIES)/ASSETS (10,897 ) 20,238
TOTAL ASSETS LESS CURRENT
LIABILITIES

18,556

46,470

CREDITORS
Amounts falling due after more than one year 6 (16,055 ) (25,240 )

PROVISIONS FOR LIABILITIES (5,596 ) (5,337 )
NET (LIABILITIES)/ASSETS (3,095 ) 15,893

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings (3,195 ) 15,793
SHAREHOLDERS' FUNDS (3,095 ) 15,893

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

San Marco (Scotland) Ltd. (Registered number: SC144025)

Balance Sheet - continued
30 April 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 January 2025 and were signed on its behalf by:





A Matheson - Director


San Marco (Scotland) Ltd. (Registered number: SC144025)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. 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.

Going concern
The directors are satisfied that the Company will have access to sufficient funds to ensure that all liabilities will be met as they fall due over a period of at least 12 months from the approval date of these financial statements. Consequently, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Revenue
Revenue represents the amounts derived from the provision of goods and services, excluding value added tax and trade discounts. Revenue from the sale of goods is recognised as income on receipt of cash and is stated after deduction of discounts, promotions and value-added taxation.

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.
Improvements to property - 4% on cost
Fixtures and fittings - 15% on reducing balance

Inventories
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

San Marco (Scotland) Ltd. (Registered number: SC144025)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

1. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Impairment of fixed assets
At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2023 - 21 ) .

3. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and
property fittings Totals
£    £    £   
COST
At 1 May 2023 17,897 142,168 160,065
Additions 3,909 4,220 8,129
At 30 April 2024 21,806 146,388 168,194
DEPRECIATION
At 1 May 2023 16,271 117,562 133,833
Charge for year 771 4,137 4,908
At 30 April 2024 17,042 121,699 138,741
NET BOOK VALUE
At 30 April 2024 4,764 24,689 29,453
At 30 April 2023 1,626 24,606 26,232

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 11,889 18,799

San Marco (Scotland) Ltd. (Registered number: SC144025)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,100 11,040
Trade creditors 36,850 30,930
Taxation and social security 49,228 79,607
Other creditors 35,579 52,685
131,757 174,262

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 16,055 25,240

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

8. RELATED PARTY DISCLOSURES

Jam Battlefield Limited is the parent company with its registered office address being Radleigh House, 1 Golf Road, Clarkston, Glasgow, G76 7HU.

At the 30 April 2024 there was £3,500 due from Jam Battlefield Limited.