Registered number
SC483561
Mascot Civils Ltd
Filleted Accounts
7 April 2024
Mascot Civils Ltd
Registered number: SC483561
Balance Sheet
as at 7 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 171,435 121,940
Current assets
Stocks 125,000 125,000
Debtors 4 460,382 505,396
Cash at bank and in hand 180,286 52,206
765,668 682,602
Creditors: amounts falling due within one year 5 (538,526) (504,650)
Net current assets 227,142 177,952
Total assets less current liabilities 398,577 299,892
Creditors: amounts falling due after more than one year 6 (150,913) (122,978)
Net assets 247,664 176,914
Capital and reserves
Called up share capital 1 1
Profit and loss account 247,663 176,913
Shareholders' funds 247,664 176,914
The director is 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 director acknowledges his 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.
S McCreadie
Director
Approved by the board on 10 February 2025
Mascot Civils Ltd
Notes to the Accounts
for the year ended 7 April 2024
1 Accounting policies
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.
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. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 4
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 8 April 2023 121,940
Additions 49,495
At 7 April 2024 171,435
Depreciation
At 7 April 2024 -
Net book value
At 7 April 2024 171,435
At 7 April 2023 121,940
4 Debtors 2024 2023
£ £
Trade debtors 187,711 440,278
Other debtors 272,671 65,118
460,382 505,396
5 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 20,988 18,828
Trade creditors 193,250 384,685
Taxation and social security costs 184,949 92,550
Other creditors 139,339 8,587
538,526 504,650
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 98,609 66,269
Obligations under finance lease and hire purchase contracts 52,304 56,709
150,913 122,978
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