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LAURA'S TINY TREASURES LIMITED

Registered Number
SC286285
(Scotland)

Unaudited Financial Statements for the Year ended
30 June 2023

LAURA'S TINY TREASURES LIMITED
Company Information
for the year from 1 July 2022 to 30 June 2023

Directors

LAWSON, Iain Macdonald
ROSS, John

Registered Address

63 Neilston Road
Paisley
PA2 6NA

Registered Number

SC286285 (Scotland)
LAURA'S TINY TREASURES LIMITED
Balance Sheet as at
30 June 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Investments3202,058202,058
202,058202,058
Current assets
Debtors97,20597,205
Cash at bank and on hand35,32836,511
132,533133,716
Creditors amounts falling due within one year5(145,137)(145,190)
Net current assets (liabilities)(12,604)(11,474)
Total assets less current liabilities189,454190,584
Net assets189,454190,584
Capital and reserves
Called up share capital501501
Share premium159,500159,500
Profit and loss account29,45330,583
Shareholders' funds189,454190,584
The financial statements were approved and authorised for issue by the Board of Directors on 13 March 2024, and are signed on its behalf by:
LAWSON, Iain Macdonald
Director
Registered Company No. SC286285
LAURA'S TINY TREASURES LIMITED
Notes to the Financial Statements
for the year ended 30 June 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 compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
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.
Current taxation
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
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Investment property
The investment property is accounted for under FRS 102, Section 16 Investment Property. Investment property is remeasured to fair value at each balance sheet date with fair value gains and losses being reported in profit or loss.
2.Average number of employees

20232022
Average number of employees during the year00
3.Fixed asset investments

Other investments1

Total

££
Cost or valuation
At 01 July 22202,058202,058
At 30 June 23202,058202,058
Net book value
At 30 June 23202,058202,058
At 30 June 22202,058202,058

Notes

1Other investments other than loans
4.Debtors: amounts due within one year

2023

2022

££
Amounts owed by associates and joint ventures / participating interests1,0461,046
Other debtors96,15996,159
Total97,20597,205
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
5.Creditors: amounts due within one year

2023

2022

££
Taxation and social security2,5872,639
Other creditors142,550142,551
Total145,137145,190
Included in creditors is a loan from Iain Lawson, who is a director of the company totalling £550 (2022: £550) and John Ross, who is also a director of he company totalling £142,000 (2022: £142,000)