Registered number
SC662738
Seathistle Ltd
Unaudited Filleted Accounts
31 March 2023
Seathistle Ltd
Registered number: SC662738
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Current assets
Debtors 3 2,001 2,016
Cash at Bank 1,934 3,285
3,935 5,301
Creditors: amounts falling due within one year 4 (12,613) (12,545)
Net current liabilities (8,678) (7,244)
Net liabilities (8,678) (7,244)
Capital and reserves
Called up share capital 2 2
Profit and loss account (8,680) (7,246)
Shareholder's funds (8,678) (7,244)
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 member has 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.
Robert MacManaway
Director
Approved by the board on 30 October 2023
Seathistle 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. 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.
Creditors
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.
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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Debtors 2023 2022
£ £
Deferred Tax 2,001 1,665
Credit Card - 351
2,001 2,016
4 Creditors: amounts falling due within one year 2023 2022
£ £
Accruals 240 820
Credit Card 87 -
Taxation & Social Security Costs 150 287
Director's Loan Account 12,136 11,438
12,613 12,545
5 Related party transactions
At the year end the director was owed £12,136 (2022: £11,438) by the company. This balance includes interest of £751 (2022: £785), at a rate of 6.5%, charged to the company on the outstanding balance owed to the director and expensed to the profit and loss in the year. There is no fixed term of repayment for this loan.
6 Other information
Seathistle Ltd is a private company limited by shares and incorporated in Scotland. Its registered office is:
Lagnagiogan
Isle of Iona
Argyll & Bute
PA76 6SP
Seathistle Ltd SC662738 false 2022-04-01 2023-03-31 2023-03-31 VT Final Accounts October 2023 release 2 Robert MacManaway No description of principal activity SC662738 2021-07-01 2022-03-31 SC662738 core:WithinOneYear 2022-03-31 SC662738 core:ShareCapital 2022-03-31 SC662738 core:RetainedEarningsAccumulatedLosses 2022-03-31 SC662738 2022-04-01 2023-03-31 SC662738 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 SC662738 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 SC662738 bus:Director40 2022-04-01 2023-03-31 SC662738 2 2022-04-01 2023-03-31 SC662738 countries:England 2022-04-01 2023-03-31 SC662738 bus:FRS102 2022-04-01 2023-03-31 SC662738 bus:FullAccounts 2022-04-01 2023-03-31 SC662738 2023-03-31 SC662738 core:WithinOneYear 2023-03-31 SC662738 core:ShareCapital 2023-03-31 SC662738 core:RetainedEarningsAccumulatedLosses 2023-03-31 SC662738 2022-03-31 iso4217:GBP xbrli:pure