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No description of principal activity
2022-02-22
Sage Accounts Production Advanced 2023 - FRS102_2023
4,165
4,165
1,002
1,002
3,163
xbrli:pure
xbrli:shares
iso4217:GBP
SC724024
2022-02-22
2023-06-30
SC724024
2023-06-30
SC724024
2022-02-21
SC724024
core:PlantMachinery
2022-02-22
2023-06-30
SC724024
bus:Director1
2022-02-22
2023-06-30
SC724024
bus:Director2
2022-02-22
2023-06-30
SC724024
core:PlantMachinery
2023-06-30
SC724024
core:WithinOneYear
2023-06-30
SC724024
core:AfterOneYear
2023-06-30
SC724024
core:ShareCapital
2023-06-30
SC724024
core:RetainedEarningsAccumulatedLosses
2023-06-30
SC724024
bus:SmallEntities
2022-02-22
2023-06-30
SC724024
bus:AuditExemptWithAccountantsReport
2022-02-22
2023-06-30
SC724024
bus:SmallCompaniesRegimeForAccounts
2022-02-22
2023-06-30
SC724024
bus:PrivateLimitedCompanyLtd
2022-02-22
2023-06-30
SC724024
bus:FullAccounts
2022-02-22
2023-06-30
SC724024
core:OtherRelatedParties
2022-02-22
2023-06-30
COMPANY REGISTRATION NUMBER:
SC724024
Filleted Unaudited Financial Statements |
|
Statement of Financial Position |
|
30 June 2023
Fixed assets
Current assets
Debtors |
6 |
9,670 |
|
Cash at bank and in hand |
3,529 |
|
|
-------- |
|
|
13,199 |
|
|
|
|
|
Creditors: amounts falling due within one year |
7 |
13,215 |
|
|
-------- |
|
Net current liabilities |
|
16 |
|
|
------- |
Total assets less current liabilities |
|
3,147 |
|
|
|
|
Creditors: amounts falling due after more than one year |
8 |
|
17,755 |
|
|
-------- |
Net liabilities |
|
(
14,608) |
|
|
-------- |
|
|
|
|
Capital and reserves
Called up share capital |
|
100 |
Profit and loss account |
|
(
14,708) |
|
|
-------- |
Shareholders deficit |
|
(
14,608) |
|
|
-------- |
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
18 October 2023
, and are signed on behalf of the board by:
Mr Peter Mcaninch |
Mr Gregory Bernard Preston |
Director |
Director |
|
|
Company registration number:
SC724024
Notes to the Financial Statements |
|
Period from 22 February 2022 to 30 June 2023
1.
General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 216 West George Street, Glasgow, G2 2PQ, Scotland.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Plant and machinery |
- |
25% reducing balance |
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the period amounted to
2
.
5.
Tangible assets
|
Plant and machinery |
|
£ |
Cost |
|
At 22 February 2022 |
– |
Additions |
4,165 |
|
------- |
At 30 June 2023 |
4,165 |
|
------- |
Depreciation |
|
At 22 February 2022 |
– |
Charge for the period |
1,002 |
|
------- |
At 30 June 2023 |
1,002 |
|
------- |
Carrying amount |
|
At 30 June 2023 |
3,163 |
|
------- |
|
|
6.
Debtors
|
30 Jun 23 |
|
£ |
Trade debtors |
9,570 |
Other debtors |
100 |
|
------- |
|
9,670 |
|
------- |
|
|
7.
Creditors:
amounts falling due within one year
|
30 Jun 23 |
|
£ |
Trade creditors |
547 |
Social security and other taxes |
6,651 |
Other creditors |
6,017 |
|
-------- |
|
13,215 |
|
-------- |
|
|
8.
Creditors:
amounts falling due after more than one year
|
30 Jun 23 |
|
£ |
Other creditors |
17,755 |
|
-------- |
|
|
9.
Directors' advances, credits and guarantees
At the year end, a balance of £2,543 was owed to the director. This loan is interest free and has no fixed date of repayment
10.
Related party transactions
Included in creditors there is a balance owed to Plastfix Industries Pty Ltd for £14,636. This is a company a director has an interest in. Included in creditors there is a balanced owed to PPP Consultancy Ltd for £3,000. This is a company a director has an interest in.
11.
Controlling party
The company was under the control of the directors in the year.