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REGISTERED NUMBER: SC582918 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

862 Ltd

862 Ltd (Registered number: SC582918)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


862 Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Miles McMillan
Ms Mia McMillan





REGISTERED OFFICE: 7 Titwood Road
Glasgow
G41 2DD





REGISTERED NUMBER: SC582918 (Scotland)





ACCOUNTANTS: Stevenson & Kyles
Chartered Accountants
25 Sandyford Place
Glasgow
G3 7NG

862 Ltd (Registered number: SC582918)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 17,683 21,220
Tangible assets 5 94,663 85,705
112,346 106,925

CURRENT ASSETS
Stock 9,250 7,982
Debtors 6 95,424 5,864
Cash at bank 32,296 154,509
136,970 168,355
CREDITORS
Amounts falling due within one year 7 131,261 122,775
NET CURRENT ASSETS 5,709 45,580
TOTAL ASSETS LESS CURRENT
LIABILITIES

118,055

152,505

CREDITORS
Amounts falling due after more than one
year

8

(21,667

)

(31,667

)

PROVISIONS FOR LIABILITIES 10 (17,986 ) (16,284 )
NET ASSETS 78,402 104,554

862 Ltd (Registered number: SC582918)

Balance Sheet - continued
31 March 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 11 4 4
Retained earnings 78,398 104,550
SHAREHOLDERS' FUNDS 78,402 104,554

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 July 2023 and were signed on its behalf by:





Mrs E McMillan - Director


862 Ltd (Registered number: SC582918)

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

1. STATUTORY INFORMATION

862 Ltd 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fittings and equipment - 15% on reducing balance

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

Financial instruments
Basic financial instruments, including debtors and creditors with no stated interest rate and receivable or payable within one year, are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

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.


862 Ltd (Registered number: SC582918)

Notes to the Financial Statements - continued
for the Year Ended 31 March 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.

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.

Grant income
Where applicable, grants from the government are recognised at their fair value where there is a reasonable assurance that the grant will be received and that the company will comply with all attached conditions. Where the grant income relates to a particular expense item, the grant income is recognised in the profit and loss account over the same period as the expense it is intended to compensate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 58 (2022 - 59 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 35,368
AMORTISATION
At 1 April 2022 14,148
Amortisation for year 3,537
At 31 March 2023 17,685
NET BOOK VALUE
At 31 March 2023 17,683
At 31 March 2022 21,220

862 Ltd (Registered number: SC582918)

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

5. TANGIBLE FIXED ASSETS
Fittings
and
equipment
£   
COST
At 1 April 2022 136,230
Additions 25,666
At 31 March 2023 161,896
DEPRECIATION
At 1 April 2022 50,525
Charge for year 16,708
At 31 March 2023 67,233
NET BOOK VALUE
At 31 March 2023 94,663
At 31 March 2022 85,705

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 95,424 5,864

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 6,751 -
Trade creditors 24,409 35,468
Taxation and social security 73,817 74,992
Other creditors 26,284 12,315
131,261 122,775

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Other creditors 21,667 31,667

862 Ltd (Registered number: SC582918)

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

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   

Tennent Caledonian Brewers UK Limited hold a floating charge over all the property or undertakings of the company.

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 17,986 16,284

Deferred
tax
£   
Balance at 1 April 2022 16,284
Provided during year 1,702
Balance at 31 March 2023 17,986

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
50 Ordinary A 1p 1 1
50 Ordinary B 1p 1 1
50 Ordinary C 1p 1 1
50 Ordinary D 1p 1 1
4 4