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SBFS TRADING LTD

Registered Number
SC551656
(Scotland)

Unaudited Financial Statements for the Year ended
31 March 2023

SBFS TRADING LTD
Company Information
for the year from 1 April 2022 to 31 March 2023

Directors

DUNCAN, Willis Margaret
HUNTER, John Nicolson
RENDALL, Isobel Joan

Registered Address

Scalloway Museum
Castle Street
Scalloway
ZE1 0TP

Registered Number

SC551656 (Scotland)
SBFS TRADING LTD
Balance Sheet as at
31 March 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets520972
20972
Current assets
Debtors61,4281,826
Cash at bank and on hand31,04710,728
32,47512,554
Creditors amounts falling due within one year7(36,821)(16,901)
Net current assets (liabilities)(4,346)(4,347)
Total assets less current liabilities(4,326)(3,375)
Net assets(4,326)(3,375)
Capital and reserves
Called up share capital11
Profit and loss account(4,327)(3,376)
Shareholders' funds(4,326)(3,375)
The financial statements were approved and authorised for issue by the Board of Directors on 18 October 2023, and are signed on its behalf by:
HUNTER, John Nicolson
Director
Registered Company No. SC551656
SBFS TRADING LTD
Notes to the Financial Statements
for the year ended 31 March 2023

1.Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Plant and machinery3
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
4.Employee information

20232022
Average number of employees during the year00
5.Property, plant and equipment

Plant & machinery

Total

££
Cost or valuation
At 01 April 223,0193,019
At 31 March 233,0193,019
Depreciation and impairment
At 01 April 222,0472,047
Charge for year952952
At 31 March 232,9992,999
Net book value
At 31 March 232020
At 31 March 22972972
6.Debtors

2023

2022

££
Trade debtors / trade receivables1,4281,826
Total1,4281,826
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
7.Creditors within one year

2023

2022

££
Other creditors24,09416,600
Accrued liabilities and deferred income12,727301
Total36,82116,901
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.