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Company Registration No. SC434187 (Scotland)
Smalltown Audio Ltd Unaudited accounts for the year ended 31 December 2024
Smalltown Audio Ltd Unaudited accounts Contents
Page
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Smalltown Audio Ltd Company Information for the year ended 31 December 2024
Director
Simon Payling
Company Number
SC434187 (Scotland)
Registered Office
Unit 3B Moorend Shewalton Road Irvine KA11 5AW United Kingdom
Accountants
W Wilson Millar Ltd 32 Moorfield Road Prestwick KA9 2HW
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Smalltown Audio Ltd Statement of financial position as at 31 December 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
70,720 
82,711 
Current assets
Debtors
1,300 
12,277 
Cash at bank and in hand
31,122 
43,640 
32,422 
55,917 
Creditors: amounts falling due within one year
(49,321)
(59,383)
Net current liabilities
(16,899)
(3,466)
Total assets less current liabilities
53,821 
79,245 
Creditors: amounts falling due after more than one year
(44,100)
(27,500)
Net assets
9,721 
51,745 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
9,720 
51,744 
Shareholders' funds
9,721 
51,745 
For the year ending 31 December 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 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 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 and authorised for issue on 29 July 2025 and were signed on its behalf by
Simon Payling Director Company Registration No. SC434187
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Smalltown Audio Ltd Notes to the Accounts for the year ended 31 December 2024
1
Statutory information
Smalltown Audio Ltd is a private company, limited by shares, registered in Scotland, registration number SC434187. The registered office is Unit 3B Moorend, Shewalton Road, Irvine, KA11 5AW, United Kingdom.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
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
20% Reducing Balance
Motor vehicles
20% Reducing Balance
Fixtures & fittings
20% Reducing Balance
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 January 2024
230,202 
37,473 
14,300 
281,975 
Additions
1,441 
4,245 
- 
5,686 
At 31 December 2024
231,643 
41,718 
14,300 
287,661 
Depreciation
At 1 January 2024
163,849 
28,437 
6,978 
199,264 
Charge for the year
13,559 
2,654 
1,464 
17,677 
At 31 December 2024
177,408 
31,091 
8,442 
216,941 
Net book value
At 31 December 2024
54,235 
10,627 
5,858 
70,720 
At 31 December 2023
66,353 
9,036 
7,322 
82,711 
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Smalltown Audio Ltd Notes to the Accounts for the year ended 31 December 2024
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
120 
12,277 
Other debtors
1,180 
- 
1,300 
12,277 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
12,200 
8,334 
VAT
4,414 
13,338 
Trade creditors
1,500 
1,500 
Taxes and social security
- 
14,467 
Loans from directors
31,207 
21,744 
49,321 
59,383 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
44,100 
27,500 
8
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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