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REGISTERED NUMBER: SC237189 (Scotland)















Report of the Director and

Unaudited Financial Statements for the Year Ended 28 February 2023

for

Celtic Chords Ltd.

Celtic Chords Ltd. (Registered number: SC237189)






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




Page

Company Information 1

Report of the Director 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 5


Celtic Chords Ltd.

Company Information
for the Year Ended 28 February 2023







DIRECTOR: P Murray





REGISTERED OFFICE: Pulldoran
Kirkton
Auchenblae
Kincardineshire
AB30





REGISTERED NUMBER: SC237189 (Scotland)





ACCOUNTANTS: MacDonald Accountancy Services
11 Margaret Street
Stonehaven
Aberdeenshire
AB39 2AY

Celtic Chords Ltd. (Registered number: SC237189)

Report of the Director
for the Year Ended 28 February 2023

The director presents his report with the financial statements of the company for the year ended 28 February 2023.

DIRECTOR
P Murray held office during the whole of the period from 1 March 2022 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





P Murray - Director


13 November 2023

Celtic Chords Ltd. (Registered number: SC237189)

Income Statement
for the Year Ended 28 February 2023

28.2.23 28.2.22
£    £   

TURNOVER 50,861 44,660

Cost of sales 16,840 24,757
GROSS PROFIT 34,021 19,903

Administrative expenses (11,764 ) 10,806
45,785 9,097

Other operating income - 13,000
OPERATING PROFIT and
PROFIT BEFORE TAXATION 45,785 22,097

Tax on profit 4,455 4,198
PROFIT FOR THE FINANCIAL YEAR 41,330 17,899

Celtic Chords Ltd. (Registered number: SC237189)

Balance Sheet
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 43,015

CURRENT ASSETS
Stocks 5 5,000 12,000
Debtors 6 - 638
Cash at bank and in hand 103,916 52,018
108,916 64,656
CREDITORS
Amounts falling due within one year 7 9,872 45,957
NET CURRENT ASSETS 99,044 18,699
TOTAL ASSETS LESS CURRENT
LIABILITIES

99,044

61,714

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 99,042 61,712
SHAREHOLDERS' FUNDS 99,044 61,714

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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 13 November 2023 and were signed by:





P Murray - Director


Celtic Chords Ltd. (Registered number: SC237189)

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

1. STATUTORY INFORMATION

Celtic Chords Ltd. 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.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

Celtic Chords Ltd. (Registered number: SC237189)

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

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor
property fittings vehicles Totals
£    £    £    £   
COST
At 1 March 2022 43,015 8,023 4,878 55,916
Disposals (43,015 ) (8,023 ) (4,878 ) (55,916 )
At 28 February 2023 - - - -
DEPRECIATION
At 1 March 2022 - 8,023 4,878 12,901
Eliminated on disposal - (8,023 ) (4,878 ) (12,901 )
At 28 February 2023 - - - -
NET BOOK VALUE
At 28 February 2023 - - - -
At 28 February 2022 43,015 - - 43,015

5. STOCKS
28.2.23 28.2.22
£    £   
Stocks 5,000 12,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors - 638

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Taxation and social security 5,200 5,287
Other creditors 4,672 40,670
9,872 45,957