Company registration number SC244043 (Scotland)
LIATHACH LTD.
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
PAGES FOR FILING WITH REGISTRAR
LIATHACH LTD.
COMPANY INFORMATION
Director
Mr M Hutchison
Secretary
Mr M Hutchison
Company number
SC244043
Registered office
48 Archers Avenue
Stirling
Stirlingshire
United Kingdom
FK7 7RJ
Accountants
Azets
Kings Park House
Laurelhill Business Park
Stirling
Stirlingshire
United Kingdom
FK7 9JQ
LIATHACH LTD.
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
LIATHACH LTD.
BALANCE SHEET
AS AT
28 FEBRUARY 2023
28 February 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
25
35
Current assets
Debtors
5
60,001
3,638
Cash at bank and in hand
346,263
400,829
406,264
404,467
Creditors: amounts falling due within one year
6
(19,881)
(21,291)
Net current assets
386,383
383,176
Net assets
386,408
383,211
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
386,407
383,210
Total equity
386,408
383,211

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 16 October 2023 and are signed on its behalf by:
Mr M Hutchison
Director
Company Registration No. SC244043
LIATHACH LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 2 -
1
Accounting policies
Company information

Liathach Ltd. is a private company limited by shares incorporated in Scotland. The registered office is 48 Archers Avenue, Stirling, Stirlingshire, United Kingdom, FK7 7RJ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

1.2
Turnover

Turnover consists of the sale value, excluding VAT of work in the period under contracts to supply goods and services to third parties. It includes the relevant proportion of contract value for performance up to the period end.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
25% on reducing balance
Computers
25% on reducing balance
1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.5
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.6
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

LIATHACH LTD.
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 3 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
1
1
4
Tangible fixed assets
Plant and equipment
Computers
Total
£
£
£
Cost
At 1 March 2022
411
328
739
Disposals
(411)
-
0
(411)
At 28 February 2023
-
0
328
328
Depreciation and impairment
At 1 March 2022
409
295
704
Depreciation charged in the year
-
0
8
8
Eliminated in respect of disposals
(409)
-
0
(409)
At 28 February 2023
-
0
303
303
Carrying amount
At 28 February 2023
-
0
25
25
At 28 February 2022
2
33
35
LIATHACH LTD.
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 4 -
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
24,600
-
0
Other debtors
35,401
3,638
60,001
3,638
6
Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
10,135
14,888
Other taxation and social security
5,666
3,291
Other creditors
660
272
Accruals and deferred income
3,420
2,840
19,881
21,291
7
Related party transactions

At the balance sheet date, the director owed the company £31,080 (2022: £3,549).

 

The loan is unsecured and repayable on demand

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