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REGISTERED NUMBER: SC614316 (Scotland)












Financial Statements

for the Year Ended 31 May 2024

for

A & R Trading Glasgow Limited

A & R Trading Glasgow Limited (Registered number: SC614316)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


A & R Trading Glasgow Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: Ms A N Barrie
G Maclean





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





REGISTERED NUMBER: SC614316 (Scotland)





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

A & R Trading Glasgow Limited (Registered number: SC614316)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 11,675 15,105

CURRENT ASSETS
Debtors 4 39,971 22,501
Cash at bank and in hand 6,578 31,120
46,549 53,621
CREDITORS
Amounts falling due within one year 5 104,918 78,278
NET CURRENT LIABILITIES (58,369 ) (24,657 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(46,694

)

(9,552

)

CREDITORS
Amounts falling due after more than one year 6 17,500 27,706
NET LIABILITIES (64,194 ) (37,258 )

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings (64,294 ) (37,358 )
SHAREHOLDERS' FUNDS (64,194 ) (37,258 )

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

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

A & R Trading Glasgow Limited (Registered number: SC614316)

Balance Sheet - continued
31 May 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 14 February 2025 and were signed on its behalf by:





Ms A N Barrie - Director


A & R Trading Glasgow Limited (Registered number: SC614316)

Notes to the Financial Statements
for the Year Ended 31 May 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 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.
Plant and machinery - 15% on cost
Fixtures and fittings - 25% on cost
Computer equipment - 33% on cost

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.

A & R Trading Glasgow Limited (Registered number: SC614316)

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

1. ACCOUNTING POLICIES - continued

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 the transaction price. 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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 25 ) .

3. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 June 2023
and 31 May 2024 19,520 2,998 1,296 23,814
DEPRECIATION
At 1 June 2023 5,875 1,725 1,109 8,709
Charge for year 2,928 424 78 3,430
At 31 May 2024 8,803 2,149 1,187 12,139
NET BOOK VALUE
At 31 May 2024 10,717 849 109 11,675
At 31 May 2023 13,645 1,273 187 15,105

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 39,568 22,501
Other debtors 403 -
39,971 22,501

A & R Trading Glasgow Limited (Registered number: SC614316)

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

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 37,284 32,014
Taxation and social security 42,257 27,467
Other creditors 15,377 8,797
104,918 78,278

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 17,500 27,706

7. CALLED UP SHARE CAPITAL

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

8. 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.

9. 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.