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REGISTERED NUMBER: SC443256 (Scotland)






























Financial Statements for the Year Ended 28 February 2023

for

Befound Limited

Befound Limited (Registered number: SC443256)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Befound Limited

Company Information
for the Year Ended 28 February 2023







DIRECTOR: J P Cairney





SECRETARY:





REGISTERED OFFICE: Hidden Scotland
Milton Of Crathes
Banchory
Aberdeenshire
AB31 5QH





REGISTERED NUMBER: SC443256 (Scotland)





ACCOUNTANTS: A J Croll & Company
19 Bon Accord Crescent
Aberdeen
Aberdeenshire
AB11 6DE

Befound Limited (Registered number: SC443256)

Balance Sheet
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 41,425 47,459

CURRENT ASSETS
Debtors 5 4,275 7,025
Cash at bank 22,339 61,888
26,614 68,913
CREDITORS
Amounts falling due within one year 6 115,881 74,042
NET CURRENT LIABILITIES (89,267 ) (5,129 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(47,842

)

42,330

PROVISIONS FOR LIABILITIES - 8,839
NET (LIABILITIES)/ASSETS (47,842 ) 33,491

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (47,843 ) 33,490
SHAREHOLDERS' FUNDS (47,842 ) 33,491

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 November 2023 and were signed by:



J P Cairney - Director


Befound Limited (Registered number: SC443256)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Befound Limited 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.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

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 3 (2022 - 2 ) .

Befound Limited (Registered number: SC443256)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 March 2022 4,556 51,900 3,173 59,629
Additions 3,749 - 1,415 5,164
At 28 February 2023 8,305 51,900 4,588 64,793
DEPRECIATION
At 1 March 2022 1,985 9,056 1,129 12,170
Charge for year 2,076 7,975 1,147 11,198
At 28 February 2023 4,061 17,031 2,276 23,368
NET BOOK VALUE
At 28 February 2023 4,244 34,869 2,312 41,425
At 28 February 2022 2,571 42,844 2,044 47,459

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 2,484 7,025
Other debtors 1,791 -
4,275 7,025

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade creditors 13,098 9,079
Taxation and social security 2,416 7,365
Other creditors 100,367 57,598
115,881 74,042

7. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is J P Cairney.