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REGISTERED NUMBER: SC334746 (Scotland)















Financial Statements for the Year Ended 31 December 2021

for

BUTTONFIX LIMITED

BUTTONFIX LIMITED (REGISTERED NUMBER: SC334746)

Contents of the Financial Statements
for the Year Ended 31 December 2021










Page

Balance Sheet 1

Notes to the Financial Statements 3


BUTTONFIX LIMITED (REGISTERED NUMBER: SC334746)

Balance Sheet
31 December 2021

2021 2020
Notes £    £   
Fixed assets
Intangible assets 4 7,274 8,106
Tangible assets 5 77,522 64,344
84,796 72,450

Current assets
Stocks 6 34,393 27,829
Debtors 7 62,637 45,156
Cash at bank 189,443 208,184
286,473 281,169
Creditors
Amounts falling due within one year 8 (64,737 ) (78,932 )
Net current assets 221,736 202,237
Total assets less current liabilities 306,532 274,687

Creditors
Amounts falling due after more than one
year

9

-

(44,312

)

Provisions for liabilities (12,968 ) (10,077 )
Net assets 293,564 220,298

Capital and reserves
Called up share capital 10 10,000 10,000
Retained earnings 283,564 210,298
Shareholders' funds 293,564 220,298

BUTTONFIX LIMITED (REGISTERED NUMBER: SC334746)

Balance Sheet - continued
31 December 2021


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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 Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 August 2022 and were signed on its behalf by:





T Wills - Director


BUTTONFIX LIMITED (REGISTERED NUMBER: SC334746)

Notes to the Financial Statements
for the Year Ended 31 December 2021


1. Statutory information

Buttonfix Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address are as below:

Registered number: SC334746

Registered office: Pentland Estate
Straiton
Edinburgh
EH20 9QH

The presentation currency of the financial statements is the Pound Sterling (£).


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 net of VAT and
trade discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods

Turnover from the sale of goods supplied is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Intangible assets
Intangible assets are measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of 1 - 17 years.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Plant and machinery- 15% on reducing balance
Computer equipment - 33% straight line

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Provision is made for damaged, obsolete and slow-moving stock where appropriate.


BUTTONFIX LIMITED (REGISTERED NUMBER: SC334746)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021


2. Accounting policies - continued
Taxation
Current taxation represents the amount of taxation payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the taxation rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred taxation represents the future taxation consequences of transactions and events recognised in the
financial statements of current and previous periods. It is recognised in respect of all timing differences, with
certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. Unrelieved taxation losses and other deferred taxation assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred taxation liabilities or other future taxable profits.

Deferred taxation is measured using the taxation rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences.

Pension costs and other post-retirement benefits
The company operates money purchase (defined contribution) pension scheme. Contributions are charged against profits on the amounts payable for the year.

Interest income
Interest income is recognised on an accruals basis.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Bank and cash
Cash at bank and in hand includes cash and short term highly liquid investments with a short
maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

3. Employees and directors

The average number of employees during the year was 5 (2020 - 5 ) .

4. Intangible fixed assets
Other
intangible
assets
£   
Cost
At 1 January 2021
and 31 December 2021 12,342
Amortisation
At 1 January 2021 4,236
Charge for year 832
At 31 December 2021 5,068
Net book value
At 31 December 2021 7,274
At 31 December 2020 8,106

BUTTONFIX LIMITED (REGISTERED NUMBER: SC334746)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021


5. Tangible fixed assets
Plant and Computer
machinery equipment Totals
£    £    £   
Cost
At 1 January 2021 97,583 1,542 99,125
Additions 19,562 3,106 22,668
At 31 December 2021 117,145 4,648 121,793
Depreciation
At 1 January 2021 33,259 1,522 34,781
Charge for year 9,349 141 9,490
At 31 December 2021 42,608 1,663 44,271
Net book value
At 31 December 2021 74,537 2,985 77,522
At 31 December 2020 64,324 20 64,344

6. Stocks
2021 2020
£    £   
Stock 34,393 27,829

7. Debtors: amounts falling due within one year
2021 2020
£    £   
Trade debtors 60,093 43,446
Other debtors 2,544 1,710
62,637 45,156

8. Creditors: amounts falling due within one year
2021 2020
£    £   
Bank loans and overdrafts - 5,688
Trade creditors 14,441 14,976
Corporation tax 33,944 24,125
Other taxation & social
security 9,902 12,222
Other creditors & accruals 6,450 21,921
64,737 78,932

9. Creditors: amounts falling due after more than one year
2021 2020
£    £   
Bank loans - 44,312

BUTTONFIX LIMITED (REGISTERED NUMBER: SC334746)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021


10. Called up share capital


Allotted, issued and fully paid:
Number: Class: Nominal 2021 2020
value: £    £   
10,000 Ordinary £1 10,000 10,000