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REGISTERED NUMBER: SC749599 (Scotland)











Unaudited Financial Statements for the Year Ended 30th November 2024

for

Smilers (Annan) Limited

Smilers (Annan) Limited (Registered number: SC749599)






Contents of the Financial Statements
for the Year Ended 30th November 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 6

Report of the Accountants 7

Smilers (Annan) Limited

Company Information
for the Year Ended 30th November 2024







DIRECTORS: Mrs L Davidson
G C MacDonald
Mrs A MacDonald





REGISTERED OFFICE: Farries, Kirk & McVean
Dumfries Enterprise Park
Heathhall
Dumfriesshire
DG1 3SJ





REGISTERED NUMBER: SC749599 (Scotland)





ACCOUNTANTS: Farries Kirk & McVean
Dumfries Enterprise Park
Heathhall
Dumfries
DUMFRIESSHIRE
DG1 3SJ

Smilers (Annan) Limited (Registered number: SC749599)

Balance Sheet
30th November 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 20,000 22,500
Tangible assets 5 68,840 40,394
88,840 62,894

CURRENT ASSETS
Stocks 40,475 40,250
Debtors 6 9,649 -
Cash at bank and in hand 24,276 28,685
74,400 68,935
CREDITORS
Amounts falling due within one year 7 129,739 122,760
NET CURRENT LIABILITIES (55,339 ) (53,825 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

33,501

9,069

CREDITORS
Amounts falling due after more than one year 8 (16,624 ) (5,119 )

PROVISIONS FOR LIABILITIES (6,750 ) (1,345 )
NET ASSETS 10,127 2,605

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 9,827 2,305
10,127 2,605

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th November 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28th April 2025 and were signed on its behalf by:



G C MacDonald - Director


Smilers (Annan) Limited (Registered number: SC749599)

Notes to the Financial Statements
for the Year Ended 30th November 2024

1. STATUTORY INFORMATION

Smilers (Annan) Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable,from running a gift and coffee shop, excluding discounts, rebates, value added tax and other sales taxes

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

The assets are reviewed for impairment if there are any factors that indicate the carrying amount may be impaired.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Amounts written off each asset over the estimated useful life represent cost less residual value. The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Smilers (Annan) Limited (Registered number: SC749599)

Notes to the Financial Statements - continued
for the Year Ended 30th November 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors
Trade debtors are amounts due from cutomers for the sale of goods and services performed in the ordinary course of business.

Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date they are presented as non current liabilities.

Borrowings
Interest bearing borrowings are initially recorded at fair value, net of transaction costs. Interest bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Provisions and contingencies
Provisions are recognised when the company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st December 2023
and 30th November 2024 25,000
AMORTISATION
At 1st December 2023 2,500
Charge for year 2,500
At 30th November 2024 5,000
NET BOOK VALUE
At 30th November 2024 20,000
At 30th November 2023 22,500

Smilers (Annan) Limited (Registered number: SC749599)

Notes to the Financial Statements - continued
for the Year Ended 30th November 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st December 2023 47,609
Additions 44,776
At 30th November 2024 92,385
DEPRECIATION
At 1st December 2023 7,215
Charge for year 16,330
At 30th November 2024 23,545
NET BOOK VALUE
At 30th November 2024 68,840
At 30th November 2023 40,394

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
Additions 34,813
At 30th November 2024 34,813
DEPRECIATION
Charge for year 8,703
At 30th November 2024 8,703
NET BOOK VALUE
At 30th November 2024 26,110

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,188 -
Other debtors 8,461 -
9,649 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 3,200
Hire purchase contracts 5,541 -
Trade creditors 28,315 14,276
Taxation and social security 230 8,183
Other creditors 95,653 97,101
129,739 122,760

Smilers (Annan) Limited (Registered number: SC749599)

Notes to the Financial Statements - continued
for the Year Ended 30th November 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 5,119
Hire purchase contracts 16,624 -
16,624 5,119

9. RELATED PARTY DISCLOSURES

During the year, total dividends of £14,000 (2023 - £27,000) were paid to the directors .

L Davidson, G MacDonald and A MacDonald
Directors of the company.

At 30 November 2024, the company owed the sum of £30,525 (2023: £31,194) to each of L Davidson, G MacDonald and A MacDonald by way of directors' loan accounts. These sums are repayable on demand and no interest is charged on the amounts advanced.

Smilers (Annan) Limited

Report of the Accountants to the Directors of
Smilers (Annan) Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 30th November 2024 set out on pages three to eight and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Farries Kirk & McVean
Dumfries Enterprise Park
Heathhall
Dumfries
DUMFRIESSHIRE
DG1 3SJ


28th April 2025