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REGISTERED NUMBER: SC098089 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2023

FOR

PETERHEAD LAUNDRETTE LIMITED

PETERHEAD LAUNDRETTE LIMITED (REGISTERED NUMBER: SC098089)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Certified Accountants' Report 7

PETERHEAD LAUNDRETTE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JULY 2023







DIRECTOR: Ms J Duthie





SECRETARY: Ms J Duthie





REGISTERED OFFICE: 88 Queen Street
Peterhead
Aberdeenshire
AB42 1TT





REGISTERED NUMBER: SC098089 (Scotland)





ACCOUNTANTS: Goldwells
Goldwells House
Grange Road
Peterhead
Aberdeenshire
AB42 1WN

PETERHEAD LAUNDRETTE LIMITED (REGISTERED NUMBER: SC098089)

BALANCE SHEET
31ST JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 27,119 28,996

CURRENT ASSETS
Stocks 275 300
Debtors 5 3,040 3,881
Cash at bank and in hand 44,398 42,277
47,713 46,458
CREDITORS
Amounts falling due within one year 6 17,506 18,694
NET CURRENT ASSETS 30,207 27,764
TOTAL ASSETS LESS CURRENT
LIABILITIES

57,326

56,760

PROVISIONS FOR LIABILITIES - 356
NET ASSETS 57,326 56,404

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 8 31,000 31,000
Retained earnings 26,226 25,304
57,326 56,404

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

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

PETERHEAD LAUNDRETTE LIMITED (REGISTERED NUMBER: SC098089)

BALANCE SHEET - continued
31ST JULY 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 3rd April 2024 and were signed by:





Ms J Duthie - Director


PETERHEAD LAUNDRETTE LIMITED (REGISTERED NUMBER: SC098089)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2023

1. STATUTORY INFORMATION

Peterhead Laundrette 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.
Freehold property - 2% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 20% on cost
Computer equipment - 25% on reducing balance

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

PETERHEAD LAUNDRETTE LIMITED (REGISTERED NUMBER: SC098089)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2023

2. ACCOUNTING POLICIES - continued

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 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1st August 2022 75,000 8,743 20,088 500 104,331
Additions - 470 209 - 679
At 31st July 2023 75,000 9,213 20,297 500 105,010
DEPRECIATION
At 1st August 2022 49,950 5,086 20,081 218 75,335
Charge for year 1,500 966 19 71 2,556
At 31st July 2023 51,450 6,052 20,100 289 77,891
NET BOOK VALUE
At 31st July 2023 23,550 3,161 197 211 27,119
At 31st July 2022 25,050 3,657 7 282 28,996

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 2,881 3,881
Prepayments and accrued income 159 -
3,040 3,881

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 7) - 350
Trade creditors 2,386 1,412
Corporation tax 1,713 1,937
Social security and other taxes 195 156
Other creditors 12,480 12,493
Directors' current accounts 732 2,142
Accrued expenses - 204
17,506 18,694

PETERHEAD LAUNDRETTE LIMITED (REGISTERED NUMBER: SC098089)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2023

7. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2023 2022
£    £   
Net obligations repayable:
Within one year - 350

8. RESERVES
Revaluation
reserve
£   
At 1st August 2022
and 31st July 2023 31,000

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
PETERHEAD LAUNDRETTE LIMITED (REGISTERED NUMBER: SC098089)

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.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Peterhead Laundrette Limited for the year ended 31st July 2023 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Peterhead Laundrette Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Peterhead Laundrette Limited and state those matters that we have agreed to state to the director of Peterhead Laundrette Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Peterhead Laundrette Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Peterhead Laundrette Limited. You consider that Peterhead Laundrette Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Peterhead Laundrette Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Goldwells
Goldwells House
Grange Road
Peterhead
Aberdeenshire
AB42 1WN


3rd April 2024