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137 LTD

Registered Number
SC536380
(Scotland)

Unaudited Financial Statements for the Year ended
31 May 2023

137 LTD
Company Information
for the year from 1 June 2022 to 31 May 2023

Director

BULLEN, Edward

Registered Address

48 Sycamore Place
Aberdeen
AB11 7SZ

Registered Number

SC536380 (Scotland)
137 LTD
Balance Sheet as at
31 May 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets38,75217,475
8,75217,475
Current assets
Stocks414,30514,305
Debtors14,15216,846
Cash at bank and on hand5571,813
29,01432,964
Creditors amounts falling due within one year5-(165)
Net current assets (liabilities)29,01432,799
Total assets less current liabilities37,76650,274
Net assets37,76650,274
Capital and reserves
Called up share capital1010
Profit and loss account37,75650,264
Shareholders' funds37,76650,274
The financial statements were approved and authorised for issue by the Director on 19 February 2024, and are signed on its behalf by:
BULLEN, Edward
Director
Registered Company No. SC536380
137 LTD
Notes to the Financial Statements
for the year ended 31 May 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Plant and machinery3
Vehicles4
Office Equipment2
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20232022
Average number of employees during the year11
3.Tangible fixed assets

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 June 222,47631,5892,16336,228
At 31 May 232,47631,5892,16336,228
Depreciation and impairment
At 01 June 2297815,6122,16318,753
Charge for year8257,898-8,723
At 31 May 231,80323,5102,16327,476
Net book value
At 31 May 236738,079-8,752
At 31 May 221,49815,977-17,475
4.Stocks

2023

2022

££
Finished goods14,30514,305
Total14,30514,305
5.Creditors: amounts due within one year

2023

2022

££
Taxation and social security-165
Total-165