Company Registration No. SC434187 (Scotland)
Smalltown Audio Ltd
Unaudited accounts
for the year ended 31 December 2024
Smalltown Audio Ltd
Unaudited accounts
Contents
Smalltown Audio Ltd
Company Information
for the year ended 31 December 2024
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
Smalltown Audio Ltd
Statement of financial position
as at 31 December 2024
Tangible assets
70,720
82,711
Cash at bank and in hand
31,122
43,640
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)
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
Smalltown Audio Ltd
Notes to the Accounts
for the year ended 31 December 2024
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.
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 as modified by the revaluation of certain fixed assets.
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 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
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
At 31 December 2024
54,235
10,627
5,858
70,720
At 31 December 2023
66,353
9,036
7,322
82,711
Smalltown Audio Ltd
Notes to the Accounts
for the year ended 31 December 2024
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
12,200
8,334
Trade creditors
1,500
1,500
Taxes and social security
-
14,467
Loans from directors
31,207
21,744
7
Creditors: amounts falling due after more than one year
2024
2023
8
Average number of employees
During the year the average number of employees was 1 (2023: 1).