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REGISTERED NUMBER: SC158895 (Scotland)















Moray Office Supplies Limited

Financial Statements For The Year Ended 28 February 2023






Moray Office Supplies Limited (Registered number: SC158895)






Contents of the Financial Statements
For The Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

Moray Office Supplies Limited

Company Information
For The Year Ended 28 February 2023







DIRECTOR: A J Elder





SECRETARY: Mrs A Dobrin





REGISTERED OFFICE: 11 New Elgin Road
Elgin
Moray
IV30 6BE





REGISTERED NUMBER: SC158895 (Scotland)





ACCOUNTANTS: The Long Partnership
Park House Centre
South Street
Elgin
IV30 1JB

Moray Office Supplies Limited (Registered number: SC158895)

Balance Sheet
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 9,304
Investments 5 50 50
50 9,354

CURRENT ASSETS
Stocks - 57,790
Debtors 6 476,927 301,703
Cash at bank and in hand 234,678 225,551
711,605 585,044
CREDITORS
Amounts falling due within one year 7 146,281 107,985
NET CURRENT ASSETS 565,324 477,059
TOTAL ASSETS LESS CURRENT
LIABILITIES

565,374

486,413

CREDITORS
Amounts falling due after more than one
year

8

(22,500

)

(35,000

)

PROVISIONS FOR LIABILITIES 9 - (995 )
NET ASSETS 542,874 450,418

CAPITAL AND RESERVES
Called up share capital 10 10,000 10,000
Retained earnings 11 532,874 440,418
SHAREHOLDERS' FUNDS 542,874 450,418

Moray Office Supplies Limited (Registered number: SC158895)

Balance Sheet - continued
28 February 2023


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 10 November 2023 and were signed by:





A J Elder - Director


Moray Office Supplies Limited (Registered number: SC158895)

Notes to the Financial Statements
For The Year Ended 28 February 2023

1. STATUTORY INFORMATION

Moray Office Supplies 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Equipment - 25% on reducing balance, 25% on cost and 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Moray Office Supplies Limited (Registered number: SC158895)

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

2. ACCOUNTING POLICIES - continued

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 11 (2022 - 11 ) .

4. TANGIBLE FIXED ASSETS
Equipment
£   
COST
At 1 March 2022 310,582
Disposals (310,582 )
At 28 February 2023 -
DEPRECIATION
At 1 March 2022 301,278
Charge for year 3,611
Eliminated on disposal (304,889 )
At 28 February 2023 -
NET BOOK VALUE
At 28 February 2023 -
At 28 February 2022 9,304

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Equipment
£   
COST
At 1 March 2022 7,650
Transfer to ownership (7,650 )
At 28 February 2023 -
DEPRECIATION
At 1 March 2022 4,938
Transfer to ownership (4,938 )
At 28 February 2023 -
NET BOOK VALUE
At 28 February 2023 -
At 28 February 2022 2,712

Moray Office Supplies Limited (Registered number: SC158895)

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

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 March 2022
and 28 February 2023 50
NET BOOK VALUE
At 28 February 2023 50
At 28 February 2022 50

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 41,098 57,131
Other debtors 435,829 244,572
476,927 301,703

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans and overdrafts 10,000 7,500
Hire purchase contracts - 1,108
Trade creditors 113,429 67,364
Taxation and social security 22,633 27,987
Other creditors 219 4,026
146,281 107,985

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.23 28.2.22
£    £   
Bank loans 22,500 35,000

9. PROVISIONS FOR LIABILITIES
28.2.23 28.2.22
£    £   
Deferred tax - 995

Deferred
tax
£   
Balance at 1 March 2022 995
Credit to Income Statement during year (995 )
Balance at 28 February 2023 -

Moray Office Supplies Limited (Registered number: SC158895)

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

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.23 28.2.22
value: £    £   
10,000 Ordinary £1 10,000 10,000

11. RESERVES
Retained
earnings
£   

At 1 March 2022 440,418
Profit for the year 152,456
Dividends (60,000 )
At 28 February 2023 532,874

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28 February 2023 and 28 February 2022:

28.2.23 28.2.22
£    £   
A J Elder
Balance outstanding at start of year 204,281 226,513
Amounts repaid (21,338 ) (22,232 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 182,943 204,281

13. RELATED PARTY DISCLOSURES

During the year, total dividends of £36,000 (2022 - £36,000) were paid to the director .

14. ULTIMATE CONTROLLING PARTY

The controlling party is A J Elder.

The ultimate controlling party is A J Elder.

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Moray Office Supplies Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Moray Office Supplies Limited for the year ended 28 February 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Moray Office Supplies Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Moray Office Supplies Limited and state those matters that we have agreed to state to the director of Moray Office Supplies Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Moray Office Supplies Limited and its director for our work or for this report.

It is your duty to ensure that Moray Office Supplies Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Moray Office Supplies Limited. You consider that Moray Office Supplies Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Moray Office Supplies Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






The Long Partnership
Park House Centre
South Street
Elgin
IV30 1JB


10 November 2023