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COMPANY REGISTRATION NUMBER: SC317210
AN Sgriobhadair Ltd
Unaudited Financial Statements
31 March 2023
AN Sgriobhadair Ltd
Strategic Report
Year ended 31 March 2023
This report was approved by the board of directors on 22 June 2023 and signed on behalf of the board by:
Dr M GREENACRE
Director
Registered office:
5 South Charlotte Street
EDINBURGH
Scotland
EH2 4AN
AN Sgriobhadair Ltd
Director's Report
Year ended 31 March 2023
The director presents her report and the unaudited financial statements of the company for the year ended 31 March 2023 .
Director
The director who served the company during the year was as follows:
Dr M GREENACRE
Dividends
Particulars of recommended dividends are detailed in note 8 to the financial statements.
This report was approved by the board of directors on 22 June 2023 and signed on behalf of the board by:
Dr M GREENACRE
Director
Registered office:
5 South Charlotte Street
EDINBURGH
Scotland
EH2 4AN
AN Sgriobhadair Ltd
Statement of Income and Retained Earnings
Year ended 31 March 2023
2023
Note
£
Turnover
4
51,154
--------
Gross profit
51,154
Administrative expenses
13,995
--------
Operating profit
37,159
Other interest receivable and similar income
6
854
--------
Profit before taxation
38,013
Tax on profit
7
7,222
--------
Profit for the financial year and total comprehensive income
30,791
--------
All the activities of the company are from continuing operations.
AN Sgriobhadair Ltd
Statement of Financial Position
31 March 2023
2023
Note
£
Current assets
Debtors
9
1,638
Cash at bank and in hand
72,511
--------
74,149
Creditors: amounts falling due within one year
10
17,706
--------
Net current assets
56,443
--------
Total assets less current liabilities
56,443
--------
Capital and reserves
Called up share capital
11
1
Profit and loss account
56,442
--------
Shareholders funds
56,443
--------
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of directors and authorised for issue on 22 June 2023 , and are signed on behalf of the board by:
Dr M GREENACRE
Director
Company registration number: SC317210
AN Sgriobhadair Ltd
Statement of Cash Flows
Year ended 31 March 2023
2023
£
Cash flows from operating activities
Profit for the financial year
30,791
Adjustments for:
Other interest receivable and similar income
( 854)
Tax on profit
7,222
Changes in:
Trade and other debtors
( 1,638)
Trade and other creditors
685
--------
Cash generated from operations
36,206
Interest received
854
--------
Net cash from operating activities
37,060
--------
Cash flows from financing activities
Proceeds from borrowings
9,799
Dividends paid
( 42,327)
--------
Net cash used in financing activities
( 32,528)
--------
Net increase in cash and cash equivalents
4,532
Cash and cash equivalents at beginning of year
-------
Cash and cash equivalents at end of year
4,532
-------
AN Sgriobhadair Ltd
Notes to the Financial Statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 5 South Charlotte Street, EDINBURGH, EH2 4AN, Scotland.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Turnover
The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.
5. Staff costs
The average number of persons employed by the company during the year, including the director, amounted to:
2023
No.
The aggregate payroll costs incurred during the year, relating to the above, were:
2023
£
Wages and salaries
8,923
-------
6. Other interest receivable and similar income
2023
£
Interest on bank deposits
854
----
7. Tax on profit
Major components of tax expense
2023
£
Current tax:
UK current tax expense
7,222
-------
Tax on profit
7,222
-------
8. Dividends
9. Debtors
2023
£
Trade debtors
1,638
-------
10. Creditors: amounts falling due within one year
2023
£
Trade creditors
540
Corporation tax
7,222
Social security and other taxes
145
Director loan accounts
9,799
--------
17,706
--------
11. Called up share capital
Issued and called up
2023
No.
£
Ordinary shares of £– each
1
----
----
12. Analysis of changes in net debt
At 1 Apr 2022
Cash flows
At 31 Mar 2023
£
£
£
Cash at bank and in hand
72,511
72,511
Debt due within one year
(9,799)
(9,799)
----
--------
--------
62,712
62,712
----
--------
--------