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REGISTERED NUMBER: SC694447 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Shed Accounts Ltd

Shed Accounts Ltd (Registered number: SC694447)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Shed Accounts Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTOR: Ms F J Mackinnon





REGISTERED OFFICE: Unit 1 Carn Dearg House
North Road
Fort William
Inverness Shire
PH33 6PP





REGISTERED NUMBER: SC694447 (Scotland)





ACCOUNTANTS: Reid & Fraser
Chartered Accountants
15 Princes Street
Thurso
Caithness
KW14 7BQ

Shed Accounts Ltd (Registered number: SC694447)

Balance Sheet
31 March 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 32,880 41,295

CURRENT ASSETS
Debtors 5 11,904 6,504
Cash at bank 5,518 42,046
17,422 48,550
CREDITORS
Amounts falling due within one year 6 (27,133 ) (41,152 )
NET CURRENT (LIABILITIES)/ASSETS (9,711 ) 7,398
TOTAL ASSETS LESS CURRENT
LIABILITIES

23,169

48,693

CREDITORS
Amounts falling due after more than one
year

7

(22,275

)

(30,375

)
NET ASSETS 894 18,318

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 893 18,317
SHAREHOLDERS' FUNDS 894 18,318

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 her 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.

Shed Accounts Ltd (Registered number: SC694447)

Balance Sheet - continued
31 March 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 27 November 2023 and were signed by:





Ms F J Mackinnon - Director


Shed Accounts Ltd (Registered number: SC694447)

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

1. STATUTORY INFORMATION

Shed Accounts 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% reducing balance
Motor vehicles - 25% reducing balance
Computer equipment - 25% reducing balance

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 3 ) .

Shed Accounts Ltd (Registered number: SC694447)

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

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2022 2,424 46,601 6,035 55,060
Additions 1,231 - 1,314 2,545
At 31 March 2023 3,655 46,601 7,349 57,605
DEPRECIATION
At 1 April 2022 606 11,650 1,509 13,765
Charge for year 762 8,738 1,460 10,960
At 31 March 2023 1,368 20,388 2,969 24,725
NET BOOK VALUE
At 31 March 2023 2,287 26,213 4,380 32,880
At 31 March 2022 1,818 34,951 4,526 41,295

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 8,777 6,504
Other debtors 3,127 -
11,904 6,504

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 8,100 8,100
Trade creditors 2,663 183
Other creditors 16,370 32,869
27,133 41,152

Included in other creditors are amounts due for tax and social security amounting to £12,673 (2022 - £4,110)

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 22,275 30,375

Shed Accounts Ltd (Registered number: SC694447)

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

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
Ms F J Mackinnon
Balance outstanding at start of year - -
Amounts advanced 1,373 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,373 -