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REGISTERED NUMBER: SC342618 (Scotland)




















BC Stamps Limited

Unaudited Financial Statements

for the Year Ended 31 May 2023






BC Stamps Limited (Registered number: SC342618)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 8

BC Stamps Limited

Company Information
for the Year Ended 31 May 2023







DIRECTOR: Mr I Craven



SECRETARY: Whitelaw Wells



REGISTERED OFFICE: 3 Coates Place
Edinburgh
Midlothian
EH3 7AA



REGISTERED NUMBER: SC342618 (Scotland)



ACCOUNTANTS: Whitelaw Wells
9 Ainslie Place
Edinburgh
Midlothian
EH3 6AT



BANKERS: HSBC
76 Hanover Street
Edinburgh
EH2 1EL

BC Stamps Limited (Registered number: SC342618)

Balance Sheet
31 May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 127

CURRENT ASSETS
Stocks 76,255 53,740
Debtors 5 1,465 1,396
Cash at bank and in hand 3,764 3,178
81,484 58,314
CREDITORS
Amounts falling due within one year 6 27,048 21,105
NET CURRENT ASSETS 54,436 37,209
TOTAL ASSETS LESS CURRENT LIABILITIES 54,436 37,336

CREDITORS
Amounts falling due after more than one
year

7

(14,897

)

(21,996

)

PROVISIONS FOR LIABILITIES - (10 )
NET ASSETS 39,539 15,330

BC Stamps Limited (Registered number: SC342618)

Balance Sheet - continued
31 May 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 39,538 15,329
SHAREHOLDERS' FUNDS 39,539 15,330

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

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

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 20 February 2024 and were signed by:





Mr I Craven - Director


BC Stamps Limited (Registered number: SC342618)

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

1. STATUTORY INFORMATION

BC Stamps Limited 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 and revenue recognition
Turnover represents sales of stamps net of VAT. Revenue is recognised at the point of sale.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Plant and Machinery - 33.33% straight line

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

All loans with related parties are all repayable on demand.

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.


BC Stamps Limited (Registered number: SC342618)

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

2. ACCOUNTING POLICIES - continued
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
Contributions payable to the employee's pension scheme are charged to profit or loss in the period to which they relate.

Provisions
Provisions are recognised where the company has a present obligation as a result of a past event, it is probable the company will be required to settle the obligation, and a reliable estimate can be made of the obligation. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

BC Stamps Limited (Registered number: SC342618)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2022
and 31 May 2023 380
DEPRECIATION
At 1 June 2022 253
Charge for year 127
At 31 May 2023 380
NET BOOK VALUE
At 31 May 2023 -
At 31 May 2022 127

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 1,465 1,396

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 7,495 7,495
Taxation and social security 6,357 4,221
Other creditors 13,196 9,389
27,048 21,105

Other creditors includes a loan from the director, which is unsecured, interest free and repayable on demand.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 14,897 21,996

BC Stamps Limited (Registered number: SC342618)

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

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 2,525 2,296

BC Stamps Limited

Report of the Accountants to the Director of
BC Stamps Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 May 2023 set out on page nil and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Whitelaw Wells
9 Ainslie Place
Edinburgh
Midlothian
EH3 6AT


20 February 2024