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Registration number: SC582285

Spogan Beaga Limited

Annual Report and Unaudited Filleted Abridged Financial Statements

for the Year Ended 30 November 2024

 

Spogan Beaga Limited

Contents

Abridged Balance Sheet

1 to 2

Notes to the Unaudited Abridged Financial Statements

3 to 5

 

Spogan Beaga Limited

(Registration number: SC582285)
Abridged Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

84,565

91,070

Tangible assets

5

709,889

679,192

 

794,454

770,262

Current assets

 

Stocks

22,668

22,668

Debtors

8,833

84,357

Cash at bank and in hand

 

284,851

290,400

 

316,352

397,425

Creditors: Amounts falling due within one year

6

(221,347)

(197,369)

Net current assets

 

95,005

200,056

Total assets less current liabilities

 

889,459

970,318

Creditors: Amounts falling due after more than one year

7

(477,915)

(520,404)

Provisions for liabilities

(49,573)

(45,077)

Net assets

 

361,971

404,837

Capital and reserves

 

Called up share capital

120

120

Profit and loss account

361,851

404,717

Total equity

 

361,971

404,837

 

Spogan Beaga Limited

(Registration number: SC582285)
Abridged Balance Sheet as at 30 November 2024

For the financial year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 17 March 2025 and signed on its behalf by:
 

Mr E C Hughes

Director

Ms K Molloy

Director

 

Spogan Beaga Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2024

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
21 Caledonia Street
Paisley
PA3 2JG
Scotland

These financial statements were authorised for issue by the Board on 17 March 2025.

2

Accounting policies

Statement of compliance

These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover represents the amounts, excluding value added tax, derived from the provision of goods and services to customers during the year.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold property

2% straight line

Leasehold improvements

33% straight line

Plant & machinery

20% reducing balance

Office equipment

15% reducing balance

Motor vehicles

25% reducing balance

 

Spogan Beaga Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2024

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

5% straight line

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 16 (2023 - 15).

4

Intangible assets

Total
£

Cost or valuation

At 1 December 2023

130,100

At 30 November 2024

130,100

Amortisation

At 1 December 2023

39,030

Amortisation charge

6,505

At 30 November 2024

45,535

Carrying amount

At 30 November 2024

84,565

At 30 November 2023

91,070

 

Spogan Beaga Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2024

5

Tangible assets

Total
£

Cost or valuation

At 1 December 2023

798,677

Additions

65,355

At 30 November 2024

864,032

Depreciation

At 1 December 2023

119,486

Charge for the year

34,657

At 30 November 2024

154,143

Carrying amount

At 30 November 2024

709,889

At 30 November 2023

679,192

6

Creditors: amounts falling due within one year

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £44,000 (2023 - £50,200).

7

Creditors: amounts falling due after more than one year

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £477,915 (2023 - £520,404).

8

Related party transactions

Advances to directors


Mr E C Hughes

During the period Mr E C Hughes went overdrawn on their director's loan account. The maximum overdrawn balance during the year was £76,571 (2023 - £84,219). At the year end the amount outstanding from Mr E C Hughes was £Nil (2023 - £38,021). Interest has been charged at the commercial rate.


Ms K Molloy

During the period Ms K Molloy went overdrawn on their director's loan account. The maximum overdrawn balance during the year was £76,571 (2023 - £84,219). At the year end the amount outstanding from Ms K Molloy was £Nil (2023 - £38,021). Interest has been charged at the commercial rate.