ACCOUNTS - Final Accounts preparation

Creditors: Amounts falling due within one year

Company registration number: 07266467

	UNAUDITED FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 MAY 2024

	SAUNDERS SCOTT LIMITED


SAUNDERS SCOTT LIMITED

COMPANY INFORMATION

Director	G R McGuff


Registered number	07266467


Registered office	13 The Causeway
	Teddington
	TW11 0JR


Accountants	Menzies LLP
	Chartered Accountants
	Magna House
	18-32 London Road
	Staines-Upon-Thames
	TW18 4BP


SAUNDERS SCOTT LIMITED

CONTENTS

	Page
Statement of financial position	1
Notes to the financial statements	2 - 5


SAUNDERS SCOTT LIMITED REGISTERED NUMBER:07266467

STATEMENT OF FINANCIAL POSITION

AS AT 31 MAY 2024


		2024		2023
		£		£

Fixed assets
Tangible assets		3,460		8,010
		3,460		8,010
Current assets
Debtors: amounts falling due within one year	1,188,878		1,097,295
Cash at bank and in hand	17,018		354,849
	1,205,896		1,452,144
Creditors: amounts falling due within one year	(957,902)		(983,512)
Net current assets		247,994		468,632
Total assets less current liabilities		251,454		476,642

Net assets		251,454		476,642

Capital and reserves
Called up share capital	1	1
Profit and loss account	251,453	476,641
	251,454	476,642

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

G R McGuff

Director

Date: 5 September 2025

The notes on pages 2 to 5 form part of these financial statements.

Page 1


SAUNDERS SCOTT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

1.	General information

Saunders Scott Limited is a private company limited by shares incorporated in England and Wales. The address of the registered office and trading address are provided in the company information page of these financial statements.
The financial statements are presented in sterling which is the functional currency of the company and rounded to
the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These
policies have been consistently applied to all years presented unless otherwise stated.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

Going concern

The financial statements have been prepared on a going concern basis, no critical judgements or accounting estimates have been used by management is assessing the appropriateness of going concern.

2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 2


SAUNDERS SCOTT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3


SAUNDERS SCOTT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

2.9

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Computer equipment

33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Employees

The average monthly number of employees, including directors, during the year was 6 (2023 - 6).

4.	Tangible fixed assets

		Computer equipment
		£
	Cost or valuation
	At 1 June 2023	17,891
	Additions	2,120
	At 31 May 2024	20,011
	Depreciation
	At 1 June 2023	9,881
	Charge for the year on owned assets	6,670
	At 31 May 2024	16,551
	Net book value
	At 31 May 2024	3,460
	At 31 May 2023	8,010

Page 4


SAUNDERS SCOTT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

Debtors


					2024	2023
					£	£


Trade debtors	298,436	379,322
Other debtors	890,442	717,973
	1,188,878	1,097,295

Bank overdrafts	49,466	19,705
Bank loans	19,538	29,356
Trade creditors	199,948	166,040
Corporation tax	381,834	373,644
Other taxation and social security	273,536	329,685
Other creditors	2,513	2,007
Accruals and deferred income	31,067	63,075
	957,902	983,512

Page 5