Registered number
SC424044
STATION NEWSAGENTS (GLW) LTD
38 Merkland Street
Glasgow
Filleted Accounts
for the year ended 31 July 2024
Yousaf & Co. Ltd
Chartered Certified Accountants
Registered Auditors
298-300 Maxwell Road
Glasgow
G41 1PJ
Ref: S445/SA
STATION NEWSAGENTS (GLW) LTD
Registered number: SC424044
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 505 561
Current assets
Stocks 33,782 34,128
Debtors 4 3,159 324
Cash at bank and in hand 7,895 1,266
44,836 35,718
Creditors: amounts falling due within one year 5 (23,495) (24,116)
Net current assets 21,341 11,602
Total assets less current liabilities 21,846 12,163
Creditors: amounts falling due after more than one year 6 (35,970) (22,502)
Net assets/(liabilities) (14,124) (10,339)
Capital and reserves
Called up share capital 100 100
Profit and loss account (14,224) (10,439)
Shareholders' funds (14,124) (10,339)
The directors are 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 directors acknowledge their 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.
Mr Gurdip Singh Sandhu
Director
Approved by the board on 27 January 2025
STATION NEWSAGENTS (GLW) LTD
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 10% reducing balance method
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Fixture & fittings
£
Cost
At 1 August 2023 1,430
At 31 July 2024 1,430
Depreciation
At 1 August 2023 869
Charge for the year 56
At 31 July 2024 925
Net book value
At 31 July 2024 505
At 31 July 2023 561
4 Debtors 2024 2023
£ £
Trade debtors 2,629 -
Other debtors 530 324
3,159 324
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts - 206
Trade creditors 8,571 8,979
Taxation 16 16
Other creditors 14,908 14,915
23,495 24,116
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bounceback loan 11,401 17,414
Directors loan account 24,569 5,088
35,970 22,502
STATION NEWSAGENTS (GLW) LTD SC424044 false 2023-08-01 2024-07-31 2024-07-31 VT Final Accounts July 2024 Mr Gurdip Singh Sandhu No description of principal activity SC424044 2022-08-01 2023-07-31 SC424044 core:WithinOneYear 2023-07-31 SC424044 core:AfterOneYear 2023-07-31 SC424044 core:ShareCapital 2023-07-31 SC424044 core:RetainedEarningsAccumulatedLosses 2023-07-31 SC424044 2023-08-01 2024-07-31 SC424044 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 SC424044 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 SC424044 bus:Director40 2023-08-01 2024-07-31 SC424044 1 2023-08-01 2024-07-31 SC424044 2 2023-08-01 2024-07-31 SC424044 core:PlantMachinery 2023-08-01 2024-07-31 SC424044 bus:FRS102 2023-08-01 2024-07-31 SC424044 bus:FilletedAccounts 2023-08-01 2024-07-31 SC424044 2024-07-31 SC424044 core:WithinOneYear 2024-07-31 SC424044 core:AfterOneYear 2024-07-31 SC424044 core:ShareCapital 2024-07-31 SC424044 core:RetainedEarningsAccumulatedLosses 2024-07-31 SC424044 core:PlantMachinery 2024-07-31 SC424044 2023-07-31 SC424044 core:PlantMachinery 2023-07-31 iso4217:GBP xbrli:pure