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COMPANY REGISTRATION NUMBER: SC492076
Pringle Carluke Payroll Limited
Filleted Unaudited Financial Statements
For the year ended
31 May 2024
Pringle Carluke Payroll Limited
Financial Statements
Year ended 31 May 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
2
Pringle Carluke Payroll Limited
Statement of Financial Position
31 May 2024
2024
2023
Note
£
£
Current assets
Debtors
5
341,014
50,451
Cash at bank and in hand
313,195
748,680
---------
---------
654,209
799,131
Creditors: amounts falling due within one year
6
526,571
645,169
---------
---------
Net current assets
127,638
153,962
---------
---------
Total assets less current liabilities
127,638
153,962
---------
---------
Net assets
127,638
153,962
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
127,538
153,862
---------
---------
Shareholders funds
127,638
153,962
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 24 February 2025 , and are signed on behalf of the board by:
Mr J Pringle
Mrs J Stewart
Director
Director
Company registration number: SC492076
Pringle Carluke Payroll Limited
Notes to the Financial Statements
Year ended 31 May 2024
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is The Garage Hamburg Cottages, Lawhill Road, Carluke, ML8 5HF, Scotland.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution pension plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 160 (2023: 154 ).
5. Debtors
2024
2023
£
£
Trade debtors
290,563
Other debtors
50,451
50,451
---------
--------
341,014
50,451
---------
--------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
592
Social security and other taxes
499,123
465,978
Other creditors
27,448
178,599
---------
---------
526,571
645,169
---------
---------
7. Related party transactions
The directors have an interest and are controlling shareholders of WM Pringle & Son Limited. This company pays for payroll services from Pringle Carluke Payroll Limited in the normal course of business, and at arm's length. The total invoiced in the year was £6,477,553 (23: £6,059,601) and the balance due is £50,351 (23: £50,351)