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REGISTERED NUMBER: SC520878 (Scotland)















Speyside Plumbing and Building
Supplies Ltd

Financial Statements For The Year Ended 31 December 2022






Speyside Plumbing and Building
Supplies Ltd (Registered number: SC520878)






Contents of the Financial Statements
For The Year Ended 31 December 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Speyside Plumbing and Building
Supplies Ltd

Company Information
For The Year Ended 31 December 2022







DIRECTORS: Mr I Paul
Mrs J A Paul



REGISTERED OFFICE: 84 New Street
Rothes
Aberlour
Moray
AB38 7BJ



REGISTERED NUMBER: SC520878 (Scotland)



ACCOUNTANTS: Cathedral Accountancy
4 North Guildry Street
Elgin
Moray
IV30 1JR



BANKERS: Santander Business Banking
Bridle Road
Bootle
Liverpool
L30 4GB

Speyside Plumbing and Building
Supplies Ltd (Registered number: SC520878)

Balance Sheet
31 December 2022

31.12.22 31.12.21
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 11,606 14,178
11,606 14,178

CURRENT ASSETS
Stocks 221,407 164,451
Debtors 6 67,338 90,964
Cash at bank 183,113 131,426
471,858 386,841
CREDITORS
Amounts falling due within one year 7 124,076 131,066
NET CURRENT ASSETS 347,782 255,775
TOTAL ASSETS LESS CURRENT
LIABILITIES

359,388

269,953

PROVISIONS FOR LIABILITIES 8 1,681 2,053
NET ASSETS 357,707 267,900

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 357,607 267,800
SHAREHOLDERS' FUNDS 357,707 267,900

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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.

Speyside Plumbing and Building
Supplies Ltd (Registered number: SC520878)

Balance Sheet - continued
31 December 2022


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 23 October 2023 and were signed on its behalf by:





Mr I Paul - Director


Speyside Plumbing and Building
Supplies Ltd (Registered number: SC520878)

Notes to the Financial Statements
For The Year Ended 31 December 2022

1. STATUTORY INFORMATION

Speyside Plumbing and Building Supplies 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
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 represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life of 5 years. Goodwill is now fully amortised.

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.
Land and buildings - 10% on cost
Equipment - 33% on cost and 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Speyside Plumbing and Building
Supplies Ltd (Registered number: SC520878)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2022

2. ACCOUNTING POLICIES - continued

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 5 (2021 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2022
and 31 December 2022 21,000
AMORTISATION
At 1 January 2022
and 31 December 2022 21,000
NET BOOK VALUE
At 31 December 2022 -
At 31 December 2021 -

5. TANGIBLE FIXED ASSETS
Land and
buildings Equipment Totals
£    £    £   
COST
At 1 January 2022
and 31 December 2022 22,485 1,553 24,038
DEPRECIATION
At 1 January 2022 8,869 991 9,860
Charge for year 2,249 323 2,572
At 31 December 2022 11,118 1,314 12,432
NET BOOK VALUE
At 31 December 2022 11,367 239 11,606
At 31 December 2021 13,616 562 14,178

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade debtors 67,338 90,964

Speyside Plumbing and Building
Supplies Ltd (Registered number: SC520878)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2022

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade creditors 63,497 57,988
Taxation and social security 40,915 39,466
Other creditors 19,664 33,612
124,076 131,066

8. PROVISIONS FOR LIABILITIES
31.12.22 31.12.21
£    £   
Deferred tax 1,681 2,053

Deferred
tax
£   
Balance at 1 January 2022 2,053
Provided during year (372 )
Balance at 31 December 2022 1,681

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.22 31.12.21
value: £    £   
80 Ordinary 1 80 80
20 A Ordinary 1 20 20
100 100

10. RESERVES
Retained
earnings
£   

At 1 January 2022 267,800
Profit for the year 121,807
Dividends (32,000 )
At 31 December 2022 357,607

11. RELATED PARTY DISCLOSURES

During the year, total dividends of £32,000 were paid to the directors .

At 31 December 2021 the company owed the directors £31,387. During the year the company met expenses on behalf of the directors totalling £14,725. At 31 December 2022 the company owed the directors £16,662. This loan is interest free and has no fixed term of repayment.

Speyside Plumbing and Building
Supplies Ltd (Registered number: SC520878)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2022

12. ULTIMATE CONTROLLING PARTY

The controlling party is Mr I Paul.