Stonehillsalt PR Ltd - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: SC517012 (Scotland)

Stonehillsalt PR Ltd

Unaudited Financial Statements

for the Year Ended 31 March 2023

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

4,000

6,000

Tangible assets

5

27,455

39,823

31,455

45,823

CURRENT ASSETS

Stocks

11,986

7,353

Debtors

6

-

7,238

Cash at bank

300,856

268,810

312,842

283,401

CREDITORS

Amounts falling due within one year

7

56,009

54,354

NET CURRENT ASSETS

256,833

229,047

TOTAL ASSETS LESS CURRENT LIABILITIES

288,288

274,870

PROVISIONS FOR LIABILITIES

5,244

7,566

NET ASSETS

283,044

267,304

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

282,844

267,104

SHAREHOLDERS' FUNDS

283,044

267,304

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 25 July 2023 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 ten 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 and 20% on cost

Work in progress

Work in progress includes work that are partially completed at the year end. Work in progress is calculated on a percentage of the work completed at the year end.

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.

Going concern

The financial statements have been prepared on the going concern principle, which assumes that the company will continue to trade for the foreseeable future. The directors have no concerns that the company will continue to trade for at least 12 months from the signing of these financial statements.

Provisions

Provisions are recognised where the company has a present obligation as a result of a past event, it is probable the company will be required to settle the obligations, and a reliable estimate can be made of the obligations. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2022

and 31 March 2023

20,000

AMORTISATION

At 1 April 2022

14,000

Charge for year

2,000

At 31 March 2023

16,000

NET BOOK VALUE

At 31 March 2023

4,000

At 31 March 2022

6,000

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2022

69,715

Additions

1,473

Disposals

(1,583

)

At 31 March 2023

69,605

DEPRECIATION

At 1 April 2022

29,892

Charge for year

13,841

Eliminated on disposal

(1,583

)

At 31 March 2023

42,150

NET BOOK VALUE

At 31 March 2023

27,455

At 31 March 2022

39,823

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

-

7,097

Other debtors

-

141

-

7,238

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

-

5,088

Taxation and social security

54,250

46,913

Other creditors

1,759

2,353

56,009

54,354