Registered number
SC728839
SALMA & SONS LTD
13-15 Sinclair Drive
Glasgow
Filleted Accounts
for the year ended 30 April 2024
Yousaf & Co Ltd
Chartered Certified Accountants
298 - 300 Maxwel Road
Glasgow
Scotland
G411PJ
Ref:S563/HM
Salma & Sons LTD
Registered number: SC728839
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 10,206 11,340
Current assets
Stocks 22,444 20,869
Cash at bank and in hand 1,928 1,305
24,372 22,174
Creditors: amounts falling due within one year 4 (8,808) (10,448)
Net current assets 15,564 11,726
Total assets less current liabilities 25,770 23,066
Creditors: amounts falling due after more than one year 5 (50,977) (30,951)
Net liabilities (25,207) (7,885)
Capital and reserves
Called up share capital (100) (100)
Profit and loss account (25,107) (7,785)
Shareholders' funds (25,207) (7,885)
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.
Mrs Salma Ahmed
Director
Approved by the board on 21 January 2025
Salma & Sons LTD
Notes to the Accounts
for the year ended 30 April 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. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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 Bases
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.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 5
3 Tangible fixed assets
Fixture and fittings etc.
£
Cost
At 1 May 2023 12,600
At 30 April 2024 12,600
Depreciation
At 1 May 2023 1,260
Charge for the year 1,134
At 30 April 2024 2,394
Net book value
At 30 April 2024 10,206
At 30 April 2023 11,340
4 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 2,990 2,557
Other creditors 5,818 7,891
8,808 10,448
5 Creditors: amounts falling due after one year 2024 2023
£ £
Directors Loan Account 50,977 30,951
6 Other information
Salma & Sons LTD is a private company limited by shares and incorporated in Scotland. Its registered office is:
13-15 Sinclair Drive
Glasgow
Scotland
G42 9PR
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