G Spratt Accountancy Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: SC366743 (Scotland)

Unaudited Financial Statements for the Year Ended 30 September 2023

for

G Spratt Accountancy Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

P A Ronan

SECRETARY:

Mrs S H C Ronan

REGISTERED OFFICE:

Abbeylands

20 High Street

Dunbar

East Lothian

EH42 1EH

REGISTERED NUMBER:

SC366743 (Scotland)

ACCOUNTANTS:

G Spratt and Co

Accountants

Abbeylands

20 High Street

Dunbar

East Lothian

EH42 1EH

FIXED ASSETS

Intangible assets

4

330,000

330,000

Tangible assets

5

12,824

22,204

342,824

352,204

CURRENT ASSETS

Stocks

19,600

20,200

Debtors

6

27,820

28,885

Cash at bank and in hand

7,947

2,138

55,367

51,223

CREDITORS

Amounts falling due within one year

7

90,106

101,148

NET CURRENT LIABILITIES

(34,739

)

(49,925

)

TOTAL ASSETS LESS CURRENT LIABILITIES

308,085

302,279

CREDITORS

Amounts falling due after more than one year

8

152,567

162,862

NET ASSETS

155,518

139,417

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Revaluation reserve

9

170,500

170,500

Retained earnings

(15,982

)

(32,083

)

SHAREHOLDERS' FUNDS

155,518

139,417

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 January 2024 and were signed by:

P A Ronan - Director

1.	STATUTORY INFORMATION

G Spratt Accountancy 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, 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 2011, is being amortised evenly over its estimated useful life of twenty 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance and 20% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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

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

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 October 2022

and 30 September 2023

460,500

AMORTISATION

At 1 October 2022

and 30 September 2023

130,500

NET BOOK VALUE

At 30 September 2023

330,000

At 30 September 2022

330,000

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 October 2022

and 30 September 2023

67,896

DEPRECIATION

At 1 October 2022

45,692

Charge for year

9,380

At 30 September 2023

55,072

NET BOOK VALUE

At 30 September 2023

12,824

At 30 September 2022

22,204

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.23

30.9.22

£

£

Trade debtors

27,820

28,885

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.23

30.9.22

£

£

Bank loans and overdrafts

73,288

71,400

Trade creditors

-

6,028

Taxation and social security

16,818

23,720

90,106

101,148

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.23

30.9.22

£

£

Bank loans

56,345

55,274

Other creditors

96,222

107,588

152,567

162,862

9.

RESERVES

Revaluation

reserve

£

At 1 October 2022

and 30 September 2023

170,500