Company Registration No. SC182553 (Scotland)
SANDY ALLAN (BLACKSMITHS) LIMITED
Unaudited accounts
for the year ended 31 March 2021
SANDY ALLAN (BLACKSMITHS) LIMITED
Unaudited accounts
Contents
SANDY ALLAN (BLACKSMITHS) LIMITED
Company Information
for the year ended 31 March 2021
Directors
Morris Alexander Allan
Joanna Spence Currie
Mark Laird
Company Number
SC182553 (Scotland)
Registered Office
No 5 Small Holdings
Thornton Road
Kirkcaldy
Fife
KY1 3NN
Scotland
Accountants
SV Accounting Services Ltd
3 Manse Place
Leven
Fife
KY8 4LF
SANDY ALLAN (BLACKSMITHS) LIMITED
Statement of financial position
as at
31 March 2021
Tangible assets
222,064
242,826
Inventories
103,849
234,996
Cash at bank and in hand
56,927
(30,215)
Creditors: amounts falling due within one year
(361,201)
(366,635)
Net current assets
368,270
263,779
Total assets less current liabilities
590,334
506,605
Creditors: amounts falling due after more than one year
(93,939)
-
Provisions for liabilities
Deferred tax
(46,137)
(46,137)
Net assets
450,258
460,468
Called up share capital
5
5
Profit and loss account
450,253
460,463
Shareholders' funds
450,258
460,468
For the year ending 31 March 2021 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 directors acknowledge their 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 of Directors and authorised for issue on 19 May 2022 and were signed on its behalf by
Morris Alexander Allan
Director
Company Registration No. SC182553
SANDY ALLAN (BLACKSMITHS) LIMITED
Notes to the Accounts
for the year ended 31 March 2021
SANDY ALLAN (BLACKSMITHS) LIMITED is a private company, limited by shares, registered in Scotland, registration number SC182553. The registered office is No 5 Small Holdings, Thornton Road, Kirkcaldy, Fife, KY1 3NN, Scotland.
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
25% Reducing balance
Motor vehicles
25% Reducing balance
Fixtures & fittings
20% Reducing balance
Computer equipment
25% Reducing balance
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
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.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
SANDY ALLAN (BLACKSMITHS) LIMITED
Notes to the Accounts
for the year ended 31 March 2021
4
Intangible fixed assets
Goodwill
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 April 2020
330,124
351,445
57,851
17,460
756,880
Additions
5,150
79,300
358
3,419
88,227
Disposals
-
(26,550)
-
-
(26,550)
At 31 March 2021
335,274
404,195
58,209
20,879
818,557
At 1 April 2020
252,225
204,748
41,483
15,598
514,054
Charge for the year
20,762
63,137
3,345
1,320
88,564
On disposals
-
(6,125)
-
-
(6,125)
At 31 March 2021
272,987
261,760
44,828
16,918
596,493
At 31 March 2021
62,287
142,435
13,381
3,961
222,064
At 31 March 2020
77,899
146,697
16,368
1,862
242,826
6
Debtors: amounts falling due within one year
2021
2020
Trade debtors
377,890
238,359
Other debtors
189,876
187,274
SANDY ALLAN (BLACKSMITHS) LIMITED
Notes to the Accounts
for the year ended 31 March 2021
7
Creditors: amounts falling due within one year
2021
2020
Obligations under finance leases and hire purchase contracts
89,685
128,269
Trade creditors
114,548
132,847
Taxes and social security
30,765
40,423
Other creditors
5,110
3,724
8
Creditors: amounts falling due after more than one year
2021
2020
9
Deferred taxation
2021
2020
Accelerated capital allowances
46,137
46,137
Provision at start of year
46,137
46,137
Provision at end of year
46,137
46,137
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax.
10
Average number of employees
During the year the average number of employees was 23 (2020: 23).