Acorah Software Products - Accounts Production 16.2.850 false true false 1 November 2023 31 October 2024 31 October 2024 SC784790 Mr Jamie Naismith iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC784790 2023-10-31 SC784790 2024-10-31 SC784790 2023-11-01 2024-10-31 SC784790 frs-core:CurrentFinancialInstruments 2024-10-31 SC784790 frs-core:Non-currentFinancialInstruments 2024-10-31 SC784790 frs-core:BetweenOneFiveYears 2024-10-31 SC784790 frs-core:MotorVehicles 2024-10-31 SC784790 frs-core:MotorVehicles 2023-11-01 2024-10-31 SC784790 frs-core:MotorVehicles 2023-10-31 SC784790 frs-core:PlantMachinery 2024-10-31 SC784790 frs-core:PlantMachinery 2023-11-01 2024-10-31 SC784790 frs-core:PlantMachinery 2023-10-31 SC784790 frs-core:ShareCapital 2024-10-31 SC784790 frs-core:RetainedEarningsAccumulatedLosses 2024-10-31 SC784790 frs-bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 SC784790 frs-bus:FilletedAccounts 2023-11-01 2024-10-31 SC784790 frs-bus:SmallEntities 2023-11-01 2024-10-31 SC784790 frs-bus:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 SC784790 frs-bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 SC784790 frs-bus:Director1 2023-11-01 2024-10-31 SC784790 frs-countries:Scotland 2023-11-01 2024-10-31
Registered number: SC784790
Naismith Metal Fabrication Ltd
Unaudited Financial Statements
For The Year Ended 31 October 2024
Main Office
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: SC784790
2024
Notes £ £
FIXED ASSETS
Tangible Assets 4 37,958
37,958
CURRENT ASSETS
Debtors 5 44,239
Cash at bank and in hand 1,260
45,499
Creditors: Amounts Falling Due Within One Year 6 (33,142 )
NET CURRENT ASSETS (LIABILITIES) 12,357
TOTAL ASSETS LESS CURRENT LIABILITIES 50,315
Creditors: Amounts Falling Due After More Than One Year 7 (16,968 )
NET ASSETS 33,347
CAPITAL AND RESERVES
Called up share capital 9 1
Profit and Loss Account 33,346
SHAREHOLDERS' FUNDS 33,347
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For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Jamie Naismith
Director
14/01/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Naismith Metal Fabrication Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC784790 . The registered office is 47 Craigmuir Drive, PA7 5GD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15%
Motor Vehicles 20%
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1
1
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 November 2023 23,453 21,528 44,981
Additions 12,191 - 12,191
As at 31 October 2024 35,644 21,528 57,172
...CONTINUED
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Depreciation
As at 1 November 2023 7,579 - 7,579
Provided during the period 7,329 4,306 11,635
As at 31 October 2024 14,908 4,306 19,214
Net Book Value
As at 31 October 2024 20,736 17,222 37,958
As at 1 November 2023 15,874 21,528 37,402
5. Debtors
2024
£
Due within one year
Trade debtors 44,239
6. Creditors: Amounts Falling Due Within One Year
2024
£
Trade creditors 15,780
BOS Loans 11,936
Taxation and social security 5,426
33,142
7. Creditors: Amounts Falling Due After More Than One Year
2024
£
Net obligations under finance lease and hire purchase contracts 15,968
Bank loans 1,000
16,968
8. Obligations Under Finance Leases and Hire Purchase
2024
£
The future minimum finance lease payments are as follows:
Later than one year and not later than five years 15,968
9. Share Capital
2024
£
Allotted, Called up and fully paid 1
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