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COMPANY REGISTRATION NUMBER: SC174313
Sanders Cartwright LTD.
Filleted Unaudited Financial Statements
31 May 2024
Sanders Cartwright LTD.
Financial Statements
Year ended 31 May 2024
Contents
Page
Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2
Notes to the financial statements
4
Sanders Cartwright LTD.
Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Sanders Cartwright LTD.
Year ended 31 May 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Sanders Cartwright LTD. for the year ended 31 May 2024, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at www.icas.com/accountspreparationguidance. This report is made solely to the Board of Directors of Sanders Cartwright LTD., as a body. Our work has been undertaken solely to prepare for your approval the financial statements of Sanders Cartwright LTD. and state those matters that we have agreed to state to you, as a body, in this report in accordance with the requirements of ICAS as detailed at www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sanders Cartwright LTD. and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Sanders Cartwright LTD. has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Sanders Cartwright LTD.. You consider that Sanders Cartwright LTD. is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Sanders Cartwright LTD.. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
GILLILAND & COMPANY Chartered Accountants
216 West George Street Glasgow G2 2PQ
25 February 2025
Sanders Cartwright LTD.
Statement of Financial Position
31 May 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
914
468
Current assets
Debtors
6
3,076
6,084
Cash at bank and in hand
102,445
109,552
---------
---------
105,521
115,636
Creditors: amounts falling due within one year
7
25,536
28,171
---------
---------
Net current assets
79,985
87,465
--------
--------
Total assets less current liabilities
80,899
87,933
--------
--------
Net assets
80,899
87,933
--------
--------
Capital and reserves
Called up share capital
3,457
3,457
Share premium account
7,076
7,076
Capital redemption reserve
181
181
Profit and loss account
70,185
77,219
--------
--------
Shareholders funds
80,899
87,933
--------
--------
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 .
Sanders Cartwright LTD.
Statement of Financial Position (continued)
31 May 2024
These financial statements were approved by the board of directors and authorised for issue on 25 February 2025 , and are signed on behalf of the board by:
Mr G J Sanders
Director
Company registration number: SC174313
Sanders Cartwright LTD.
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 2nd Floor, 95 West Regent Street, Glasgow, G2 2BA.
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.
Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investment that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures & Fittings
-
20% reducing balance
Computer Equipment
-
33% straight line
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 June 2023
20,366
30,975
51,341
Additions
625
625
--------
--------
--------
At 31 May 2024
20,366
31,600
51,966
--------
--------
--------
Depreciation
At 1 June 2023
19,997
30,876
50,873
Charge for the year
77
102
179
--------
--------
--------
At 31 May 2024
20,074
30,978
51,052
--------
--------
--------
Carrying amount
At 31 May 2024
292
622
914
--------
--------
--------
At 31 May 2023
369
99
468
--------
--------
--------
6. Debtors
2024
2023
£
£
Trade debtors
989
3,840
Other debtors
2,087
2,244
-------
-------
3,076
6,084
-------
-------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
719
Corporation tax
6,101
4,547
Social security and other taxes
4,604
3,277
Other creditors
14,112
20,347
--------
--------
25,536
28,171
--------
--------
8. Directors' advances, credits and guarantees
As at 31st May 2024, the company owed Mr G J Sanders £6,238 (2023: £12,200). The loan is unsecured, interest free and has no fixed date of repayment.
9. Controlling party
The company was under the control of Mr G J Sanders throughout the current and previous year.