Stonehillsalt PR Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC517012 (Scotland)

Stonehillsalt PR Ltd

Unaudited Financial Statements

for the Year Ended 31 March 2020

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

N J McCall

R E A Salt

REGISTERED OFFICE:

The Lighthouse

Heugh Road

North Berwick

EH39 5PX

REGISTERED NUMBER:

SC517012 (Scotland)

ACCOUNTANTS:

Whitelaw Wells

The Lighthouse

Heugh Road

North Berwick

EH39 5PX

FIXED ASSETS

Intangible assets

4

10,000

12,000

Tangible assets

5

1,345

2,623

11,345

14,623

CURRENT ASSETS

Stocks

15,469

13,071

Debtors

6

35,280

18,499

Cash at bank

247,612

180,135

298,361

211,705

CREDITORS

Amounts falling due within one year

7

66,338

58,985

NET CURRENT ASSETS

232,023

152,720

TOTAL ASSETS LESS CURRENT LIABILITIES

243,368

167,343

PROVISIONS FOR LIABILITIES

256

498

NET ASSETS

243,112

166,845

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

242,912

166,645

SHAREHOLDERS' FUNDS

243,112

166,845

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 3 September 2020 and were signed on its behalf by:

N J McCall - Director

R E A Salt - Director

1.	STATUTORY INFORMATION

Stonehillsalt PR Ltd 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 and revenue recognition

Turnover represents net invoiced of the provision of public relation services exclusive of value added

tax. Revenue is recognised on the point of completion of service.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of five 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

-

33% on cost

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.

Financial instruments

Financial instruments comprise financial assets and financial liabilities which are recognised when the

company become a party to the contractual provisions of the instrument. Financial instruments are

classified as "basic" in accordance with FRS 102 and are accounted for at amortised cost using the

effective interest method.The effective interest rate is the rate that exactly discounts estimated

future cash flows over the life of the financial assets or liability to the net carrying amount on initial

recognition. Discounting is not applied to short-term receivables and payables, where the effect is

immaterial.

Financial assets at cost compromise bank, trade debtors and other debtors. Financial liabilities

compromise accruals and other creditors.

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.

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 2 (2019 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2019

and 31 March 2020

20,000

AMORTISATION

At 1 April 2019

8,000

Charge for year

2,000

At 31 March 2020

10,000

NET BOOK VALUE

At 31 March 2020

10,000

At 31 March 2019

12,000

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2019

4,182

Additions

209

Disposals

(564

)

At 31 March 2020

3,827

DEPRECIATION

At 1 April 2019

1,559

Charge for year

1,276

Eliminated on disposal

(353

)

At 31 March 2020

2,482

NET BOOK VALUE

At 31 March 2020

1,345

At 31 March 2019

2,623

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

35,280

18,499

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

5,200

6,700

Taxation and social security

60,111

50,193

Other creditors

1,027

2,092

66,338

58,985

The directors' current accounts are unsecured, interest free and has no fixed repayment period.

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2020

and 31 March 2019:

2020

2019

£

£

N J McCall

Balance outstanding at start of year

-

-

Amounts advanced

56

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

56

-