Company Registration No. SC639915 (Scotland)
Propensions Limited
Unaudited accounts
for the year ended 31 August 2024
Propensions Limited
Unaudited accounts
Contents
Propensions Limited
Company Information
for the year ended 31 August 2024
Directors
M Kennedy
T Kennedy
J Foley
Company Number
SC639915 (Scotland)
Registered Office
Unit 7, Douglas House
42 Main Street
Milngavie
Glasgow
G62 6BU
Accountants
Assenti & Noble Ltd
18 Mosshead Road
Bearsden
Glasgow
G61 3HN
Propensions Limited
Statement of financial position
as at 31 August 2024
Tangible assets
3,212
1,457
Cash at bank and in hand
71,314
78,360
Creditors: amounts falling due within one year
(74,172)
(67,170)
Net current assets
61,642
57,244
Total assets less current liabilities
64,854
58,701
Provisions for liabilities
Called up share capital
100
100
Profit and loss account
64,144
58,324
Shareholders' funds
64,244
58,424
For the year ending 31 August 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 10 March 2025 and were signed on its behalf by
M Kennedy
Director
Company Registration No. SC639915
Propensions Limited
Notes to the Accounts
for the year ended 31 August 2024
Propensions Limited is a private company, limited by shares, registered in Scotland, registration number SC639915. The registered office is Unit 7, Douglas House, 42 Main Street, Milngavie, Glasgow, G62 6BU.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention.
The accounts are presented in £ sterling.
Turnover represents invoiced sales to external customers, excluding value added tax.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
33% straight line
Computer equipment
33% straight line
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Propensions Limited
Notes to the Accounts
for the year ended 31 August 2024
4
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 September 2023
660
3,703
4,363
At 31 August 2024
660
7,575
8,235
At 1 September 2023
522
2,384
2,906
Charge for the year
97
2,020
2,117
At 31 August 2024
619
4,404
5,023
At 31 August 2024
41
3,171
3,212
At 31 August 2023
138
1,319
1,457
Amounts falling due within one year
Trade debtors
64,500
45,244
Accrued income and prepayments
-
810
6
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
15,842
24,333
Loans from directors
3,670
3,244
7
Average number of employees
During the year the average number of employees was 4 (2023: 4).