IRIS Accounts Production v23.2.0.158 SC355723 director 1.3.22 28.2.23 28.2.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureSC3557232022-02-28SC3557232023-02-28SC3557232022-03-012023-02-28SC3557232021-02-28SC3557232021-03-012022-02-28SC3557232022-02-28SC355723ns16:Scotland2022-03-012023-02-28SC355723ns15:PoundSterling2022-03-012023-02-28SC355723ns11:Director12022-03-012023-02-28SC355723ns11:PrivateLimitedCompanyLtd2022-03-012023-02-28SC355723ns11:SmallEntities2022-03-012023-02-28SC355723ns11:AuditExempt-NoAccountantsReport2022-03-012023-02-28SC355723ns11:SmallCompaniesRegimeForDirectorsReport2022-03-012023-02-28SC355723ns11:SmallCompaniesRegimeForAccounts2022-03-012023-02-28SC355723ns11:FullAccounts2022-03-012023-02-28SC355723ns11:RegisteredOffice2022-03-012023-02-28SC355723ns6:CurrentFinancialInstruments2023-02-28SC355723ns6:CurrentFinancialInstruments2022-02-28SC355723ns6:ShareCapital2023-02-28SC355723ns6:ShareCapital2022-02-28SC355723ns6:RetainedEarningsAccumulatedLosses2023-02-28SC355723ns6:RetainedEarningsAccumulatedLosses2022-02-28SC355723ns6:PlantMachinery2022-03-012023-02-28SC355723ns6:PlantMachinery2022-02-28SC355723ns6:PlantMachinery2023-02-28SC355723ns6:PlantMachinery2022-02-28SC355723ns6:WithinOneYearns6:CurrentFinancialInstruments2023-02-28SC355723ns6:WithinOneYearns6:CurrentFinancialInstruments2022-02-28
REGISTERED NUMBER: SC355723 (Scotland)















Unaudited Financial Statements for the Year Ended 28 February 2023

for

Advantage Accounting (Scotland) Limited

Advantage Accounting (Scotland) Limited (Registered number: SC355723)






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


Advantage Accounting (Scotland) Limited

Company Information
for the Year Ended 28 February 2023







DIRECTOR: I W Slater





REGISTERED OFFICE: Pavilion 2
Finnieston Business Park
Minerva Way
Glasgow
G3 8AU





REGISTERED NUMBER: SC355723 (Scotland)





ACCOUNTANTS: Advantage Accounting (Scotland) Ltd
Pavilion 2
Finnieston Business Park
Minerva Way
Glasgow
G3 8AU

Advantage Accounting (Scotland) Limited (Registered number: SC355723)

Balance Sheet
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 64,853 70,732

CURRENT ASSETS
Stocks 4,930 10,822
Debtors 5 90,036 45,397
Cash at bank 534,330 464,821
629,296 521,040
CREDITORS
Amounts falling due within one year 6 146,844 103,703
NET CURRENT ASSETS 482,452 417,337
TOTAL ASSETS LESS CURRENT
LIABILITIES

547,305

488,069

PROVISIONS FOR LIABILITIES 12,322 13,439
NET ASSETS 534,983 474,630

CAPITAL AND RESERVES
Called up share capital 20,000 20,000
Retained earnings 514,983 454,630
SHAREHOLDERS' FUNDS 534,983 474,630

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.

Advantage Accounting (Scotland) Limited (Registered number: SC355723)

Balance Sheet - continued
28 February 2023


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 16 November 2023 and were signed by:





I W Slater - Director


Advantage Accounting (Scotland) Limited (Registered number: SC355723)

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

1. STATUTORY INFORMATION

Advantage Accounting (Scotland) 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 represents net invoiced sales of services, excluding value added tax.

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 etc - 33% on cost, 25% on reducing balance and 15% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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

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.

Advantage Accounting (Scotland) Limited (Registered number: SC355723)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2022 - 14 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2022 109,123
Additions 16,255
At 28 February 2023 125,378
DEPRECIATION
At 1 March 2022 38,391
Charge for year 22,134
At 28 February 2023 60,525
NET BOOK VALUE
At 28 February 2023 64,853
At 28 February 2022 70,732

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 77,172 37,446
Other debtors 12,864 7,951
90,036 45,397

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade creditors 13,511 2,452
Taxation and social security 113,674 71,960
Other creditors 19,659 29,291
146,844 103,703