Registered number
SC395147
N.S.S. (Lenzie) Ltd
Filleted Accounts
31 March 2023
N.S.S. (Lenzie) Ltd
Registered number: SC395147
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 75,000 75,000
Tangible assets 4 7,188 7,987
82,188 82,987
Current assets
Stocks 29,659 30,466
Debtors 5 - 543
Cash at bank and in hand 22,795 22,755
52,454 53,764
Creditors: amounts falling due within one year 6 (9,815) (25,598)
Net current assets 42,639 28,166
Total assets less current liabilities 124,827 111,153
Creditors: amounts falling due after more than one year 7 (2,515) (2,115)
Net assets 122,312 109,038
Capital and reserves
Called up share capital 100 100
Profit and loss account 122,212 108,938
Shareholders' funds 122,312 109,038
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
MR Sat Pal Loi
Director
Approved by the board on 29 June 2023
N.S.S. (Lenzie) Ltd
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 10% reducing balances
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 8 4
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2022 75,000
At 31 March 2023 75,000
Amortisation
At 31 March 2023 -
Net book value
At 31 March 2023 75,000
At 31 March 2022 75,000
4 Tangible fixed assets
Fixture and fittings etc
£
Cost
At 1 April 2022 17,217
At 31 March 2023 17,217
Depreciation
At 1 April 2022 9,230
Charge for the year 799
At 31 March 2023 10,029
Net book value
At 31 March 2023 7,188
At 31 March 2022 7,987
5 Debtors 2023 2022
£ £
Trade debtors - 543
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 2,211 7,201
Taxation and social security costs 3,129 4,182
Other creditors 4,475 14,215
9,815 25,598
7 Creditors: amounts falling due after one year 2023 2022
£ £
Director's loan account 2,515 2,115
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