IRIS Accounts Production v24.3.2.46 SC109381 Board of Directors 1.9.23 31.8.24 31.8.24 false true false false true false 1974 9927 11241 7953 13215 1974 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC1093812023-08-31SC1093812024-08-31SC1093812023-09-012024-08-31SC1093812022-08-31SC1093812022-09-012023-08-31SC1093812023-08-31SC109381ns15:Scotland2023-09-012024-08-31SC109381ns14:PoundSterling2023-09-012024-08-31SC109381ns10:Director12023-09-012024-08-31SC109381ns10:PrivateLimitedCompanyLtd2023-09-012024-08-31SC109381ns10:SmallEntities2023-09-012024-08-31SC109381ns10:AuditExempt-NoAccountantsReport2023-09-012024-08-31SC109381ns10:SmallCompaniesRegimeForDirectorsReport2023-09-012024-08-31SC109381ns10:SmallCompaniesRegimeForAccounts2023-09-012024-08-31SC109381ns10:FullAccounts2023-09-012024-08-31SC109381ns10:Director2422023-08-31SC109381ns10:Director2422022-08-31SC109381ns10:Director2422023-09-012024-08-31SC109381ns10:Director2422022-09-012023-08-31SC109381ns10:Director2422024-08-31SC109381ns10:Director2422023-08-31SC109381ns10:Director22023-09-012024-08-31SC109381ns10:CompanySecretary12023-09-012024-08-31SC109381ns10:RegisteredOffice2023-09-012024-08-31SC109381ns5:CurrentFinancialInstruments2024-08-31SC109381ns5:CurrentFinancialInstruments2023-08-31SC109381ns5:Non-currentFinancialInstruments2024-08-31SC109381ns5:Non-currentFinancialInstruments2023-08-31SC109381ns5:ShareCapital2024-08-31SC109381ns5:ShareCapital2023-08-31SC109381ns5:SharePremium2024-08-31SC109381ns5:SharePremium2023-08-31SC109381ns5:RetainedEarningsAccumulatedLosses2024-08-31SC109381ns5:RetainedEarningsAccumulatedLosses2023-08-31SC109381ns5:PlantMachinery2023-08-31SC109381ns5:PlantMachinery2023-09-012024-08-31SC109381ns5:PlantMachinery2024-08-31SC109381ns5:PlantMachinery2023-08-31SC109381ns5:WithinOneYearns5:CurrentFinancialInstruments2024-08-31SC109381ns5:WithinOneYearns5:CurrentFinancialInstruments2023-08-31SC1093811ns10:Director12023-08-31SC1093811ns10:Director12022-08-31SC1093811ns10:Director12023-09-012024-08-31SC1093811ns10:Director12022-09-012023-08-31SC1093811ns10:Director12024-08-31SC1093811ns10:Director12023-08-31
REGISTERED NUMBER: SC109381 (Scotland)















Unaudited Financial Statements for the Year Ended 31 August 2024

for

R A Sneddon Limited

R A Sneddon Limited (Registered number: SC109381)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


R A Sneddon Limited

Company Information
for the Year Ended 31 August 2024







DIRECTORS: R Sneddon
Mrs R Sneddon





SECRETARY: Mrs R Sneddon





REGISTERED OFFICE: 10 South Caldeen Road
Calder Street Enterprise Zone
Coatbridge
ML5 4EG





REGISTERED NUMBER: SC109381 (Scotland)





ACCOUNTANTS: Accountants Plus
Chartered Certified Accountants
Unit 1 Cadzow Park
82 Muir Street
Hamilton
ML3 6BJ

R A Sneddon Limited (Registered number: SC109381)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 238,541 102,145

CURRENT ASSETS
Stocks 11,178 13,216
Debtors 5 297,569 263,947
Cash at bank 527,064 458,945
835,811 736,108
CREDITORS
Amounts falling due within one year 6 281,781 143,371
NET CURRENT ASSETS 554,030 592,737
TOTAL ASSETS LESS CURRENT
LIABILITIES

792,571

694,882

CREDITORS
Amounts falling due after more than
one year

7

(42,736

)

(13,514

)

PROVISIONS FOR LIABILITIES (23,584 ) (6,954 )
NET ASSETS 726,251 674,414

CAPITAL AND RESERVES
Called up share capital 27,928 27,928
Share premium 3,384 3,384
Retained earnings 694,939 643,102
726,251 674,414

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

R A Sneddon Limited (Registered number: SC109381)

Balance Sheet - continued
31 August 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 20 December 2024 and were signed on its behalf by:





R Sneddon - Director


R A Sneddon Limited (Registered number: SC109381)

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

1. STATUTORY INFORMATION

R A Sneddon Limited 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term creditors are measured at transaction price, less any impairment. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Cash and bank balances
Cash and bank balances are measured at the transaction price.


R A Sneddon Limited (Registered number: SC109381)

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

2. ACCOUNTING POLICIES - continued
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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 12 ) .

R A Sneddon Limited (Registered number: SC109381)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2023 276,430
Additions 250,360
Disposals (194,676 )
At 31 August 2024 332,114
DEPRECIATION
At 1 September 2023 174,285
Charge for year 51,989
Eliminated on disposal (132,701 )
At 31 August 2024 93,573
NET BOOK VALUE
At 31 August 2024 238,541
At 31 August 2023 102,145

5. DEBTORS
31.8.24 31.8.23
£    £   
Amounts falling due within one year:
Trade debtors 285,661 263,227
Prepayments 11,112 -
296,773 263,227

Amounts falling due after more than one year:
Other debtors 796 720

Aggregate amounts 297,569 263,947

R A Sneddon Limited (Registered number: SC109381)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Hire purchase contracts 28,941 8,308
Trade creditors 185,706 95,520
Tax - (24,384 )
Social security and other taxes 9,990 10,394
VAT 37,190 46,181
Other creditors 1,849 1,049
Directors' current accounts 13,215 1,973
Accrued expenses 4,890 4,330
281,781 143,371

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.8.24 31.8.23
£    £   
Hire purchase contracts 42,736 13,514

8. SECURED DEBTS

The following secured debts are included within creditors:

31.8.24 31.8.23
£    £   
Hire purchase contracts 71,677 -

Hire purchase contracts are secured on the assets to which they relate.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 August 2024 and 31 August 2023:

31.8.24 31.8.23
£    £   
R Sneddon and Mrs R Sneddon
Balance outstanding at start of year (1,974 ) (9,927 )
Amounts advanced (11,241 ) 7,953
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (13,215 ) (1,974 )

The company rents it's premises from the directors (Robert and Rosemary Sneddon) at fair market value.

Rents paid in the financial year amounted to £22,464 (2023 - £22,464)