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REGISTERED NUMBER: SC691729 (Scotland)















Report of the Director and

Unaudited Financial Statements for the Year Ended 31 March 2023

for

North East Interiors (Scotland) Ltd

North East Interiors (Scotland) Ltd (Registered number: SC691729)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Report of the Director 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 6


North East Interiors (Scotland) Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTOR: R Douglas





REGISTERED OFFICE: Unit 1-2 Murcar Industrial Estate
Denmore Road
Bridge Of Don
Aberdeen
Aberdeenshie
AB23 8JW





REGISTERED NUMBER: SC691729 (Scotland)





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

North East Interiors (Scotland) Ltd (Registered number: SC691729)

Report of the Director
for the Year Ended 31 March 2023

The director presents his report with the financial statements of the company for the year ended 31 March 2023.

DIRECTOR
R Douglas held office during the whole of the period from 1 April 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:





R Douglas - Director


20 November 2023

North East Interiors (Scotland) Ltd (Registered number: SC691729)

Income Statement
for the Year Ended 31 March 2023

Period
10.3.21
Year Ended to
31.3.23 31.3.22
Notes £    £   

TURNOVER 1,723,380 1,340,704

Cost of sales 1,315,274 1,037,381
GROSS PROFIT 408,106 303,323

Administrative expenses 390,721 247,727
OPERATING PROFIT 4 17,385 55,596


Interest payable and similar expenses - 3,975
PROFIT BEFORE TAXATION 17,385 51,621

Tax on profit 3,723 4,469
PROFIT FOR THE FINANCIAL YEAR 13,662 47,152

North East Interiors (Scotland) Ltd (Registered number: SC691729)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 17,850 20,917

CURRENT ASSETS
Stocks 46,997 39,449
Debtors 6 66,412 43,312
Cash at bank and in hand 139,043 214,593
252,452 297,354
CREDITORS
Amounts falling due within one year 7 235,470 269,725
NET CURRENT ASSETS 16,982 27,629
TOTAL ASSETS LESS CURRENT
LIABILITIES

34,832

48,546

CREDITORS
Amounts falling due after more than one
year

8

6,356

15,252
NET ASSETS 28,476 33,294

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 28,474 33,292
SHAREHOLDERS' FUNDS 28,476 33,294

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

North East Interiors (Scotland) Ltd (Registered number: SC691729)

Balance Sheet - continued
31 March 2023


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 20 November 2023 and were signed by:





R Douglas - Director


North East Interiors (Scotland) Ltd (Registered number: SC691729)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

North East Interiors (Scotland) 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.

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.

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 10 (2022 - 7 ) .

North East Interiors (Scotland) Ltd (Registered number: SC691729)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. OPERATING PROFIT

The operating profit is stated after charging:

Period
10.3.21
Year Ended to
31.3.23 31.3.22
£    £   
Depreciation - owned assets 5,917 3,021

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 23,938
Additions 2,850
At 31 March 2023 26,788
DEPRECIATION
At 1 April 2022 3,021
Charge for year 5,917
At 31 March 2023 8,938
NET BOOK VALUE
At 31 March 2023 17,850
At 31 March 2022 20,917

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 66,412 43,312

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Hire purchase contracts 7,924 7,924
Trade creditors 72,165 83,836
Taxation and social security 66,987 62,548
Other creditors 88,394 115,417
235,470 269,725

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Hire purchase contracts 6,356 15,252