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REGISTERED NUMBER: SC438649 (Scotland)
















Unaudited Financial Statements for the Year Ended 31 December 2022

for

Alex Lafferty Ltd

Alex Lafferty Ltd (Registered number: SC438649)






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


Alex Lafferty Ltd

Company Information
for the Year Ended 31 December 2022







DIRECTOR: Miss M B A Moultrie





REGISTERED OFFICE: c/o McLay McAlister & McGibbon
145 St Vincent Street
Glasgow
G2 5JF





REGISTERED NUMBER: SC438649 (Scotland)





ACCOUNTANTS: McLay McAlister & McGibbon LLP
Chartered Accountants
145 St Vincent Street
Glasgow
G2 5JF

Alex Lafferty Ltd (Registered number: SC438649)

Balance Sheet
31 December 2022

31.12.22 31.12.21
Notes £    £   
FIXED ASSETS
Intangible assets 4 - 1,000
Tangible assets 5 3,131 1,110
3,131 2,110

CURRENT ASSETS
Stocks 14,774 10,027
Debtors 6 40,627 32,474
Cash at bank 13,626 1,062
69,027 43,563
CREDITORS
Amounts falling due within one year 7 (29,485 ) (29,930 )
NET CURRENT ASSETS 39,542 13,633
TOTAL ASSETS LESS CURRENT
LIABILITIES

42,673

15,743

PROVISIONS FOR LIABILITIES (776 ) -
NET ASSETS 41,897 15,743

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 41,896 15,742
SHAREHOLDERS' FUNDS 41,897 15,743

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 director acknowledges her 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.

Alex Lafferty Ltd (Registered number: SC438649)

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 October 2023 and were signed by:





Miss M B A Moultrie - Director


Alex Lafferty Ltd (Registered number: SC438649)

Notes to the Financial Statements
for the Year Ended 31 December 2022

1. STATUTORY INFORMATION

Alex Lafferty 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.

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, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, 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 the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 25% on cost

The company's policy is to review the remaining useful lives and residual value of all tangible fixed assets on an on-going basis and to adjust the depreciation charge to reflect the remaining useful economic life and residual value

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
Debtors
Trade debtors and other debtors are recognised at the settlement amount due with appropriate allowances for any irrecoverable amounts when there is objective evidence the asset is impaired.

Cash and cash equivalents
Cash and cash equivalent in the balance sheet comprise cash in hand and bank overdrafts. In the balance sheet bank overdrafts are shown in creditors amounts falling due within one year.

Creditors
Trade creditors and other creditors are recognised where the company has a present obligation resulting from a past event and are recognised at the settlement amount due after allowing for any trade discounts due.


Alex Lafferty Ltd (Registered number: SC438649)

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

2. ACCOUNTING POLICIES - continued
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 (2021 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2022
and 31 December 2022 10,000
AMORTISATION
At 1 January 2022 9,000
Charge for year 1,000
At 31 December 2022 10,000
NET BOOK VALUE
At 31 December 2022 -
At 31 December 2021 1,000

Alex Lafferty Ltd (Registered number: SC438649)

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

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2022 6,637
Additions 2,382
At 31 December 2022 9,019
DEPRECIATION
At 1 January 2022 5,527
Charge for year 361
At 31 December 2022 5,888
NET BOOK VALUE
At 31 December 2022 3,131
At 31 December 2021 1,110

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade debtors 39,630 31,587
Other debtors 997 887
40,627 32,474

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Bank loans and overdrafts - 2,223
Taxation and social security 24,475 23,137
Other creditors 5,010 4,570
29,485 29,930

Included within other creditors is £539 (2021 - £255 debtor) due to the director. This loan is interest free and payable on demand.