Registered number
NI604981
Skid Steer Spreading Services Ltd
Filleted Accounts
30 November 2024
Skid Steer Spreading Services Ltd
Registered number: NI604981
Balance Sheet
as at 30 November 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 117,874 96,601
Current assets
Stocks 800 800
Debtors 5 46,421 57,732
Cash at bank and in hand 82,699 36,190
129,920 94,722
Creditors: amounts falling due within one year 6 (98,141) (75,703)
Net current assets 31,779 19,019
Total assets less current liabilities 149,653 115,620
Creditors: amounts falling due after more than one year 7 (9,167) (1,667)
Net assets 140,486 113,953
Capital and reserves
Called up share capital 2 2
Profit and loss account 140,484 113,951
Shareholders' funds 140,486 113,953
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.
Lee Trainor
Director
Approved by the board on 2 April 2025
Skid Steer Spreading Services Ltd
Notes to the Accounts
for the year ended 30 November 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 and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Plant and machinery 20% reducing balance
Motor vehicles 20% reducing balance
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 December 2023 10,000
At 30 November 2024 10,000
Amortisation
At 1 December 2023 10,000
At 30 November 2024 10,000
Net book value
At 30 November 2024 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 December 2023 179,290 23,000 202,290
Additions - 52,800 52,800
Disposals (26,500) - (26,500)
At 30 November 2024 152,790 75,800 228,590
Depreciation
At 1 December 2023 101,089 4,600 105,689
Charge for the year 10,340 14,240 24,580
On disposals (19,553) - (19,553)
At 30 November 2024 91,876 18,840 110,716
Net book value
At 30 November 2024 60,914 56,960 117,874
At 30 November 2023 78,201 18,400 96,601
5 Debtors 2024 2023
£ £
Trade debtors 46,421 57,732
6 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 11,667 5,000
Trade creditors 1,775 2,035
Taxation and social security costs (569) 6,533
Other creditors 85,268 62,135
98,141 75,703
7 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 9,167 1,667
8 Other information
Skid Steer Spreading Services Ltd is a private company limited by shares and incorporated in N Ireland. Its registered office is:
113 Dungannon Rd
Cookstown
Co Tyrone
BT80 9BD
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