Registered number
SC696547
SCOT CREAM LIMITED
Filleted Accounts
30 April 2023
SCOT CREAM LIMITED
Registered number: SC696547
Balance Sheet
as at 30 April 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,110 1,233
Current assets
Stocks 4,415 2,115
Cash at bank and in hand 162 508
4,577 2,623
Creditors: amounts falling due within one year 4 (1,733) (749)
Net current assets 2,844 1,874
Total assets less current liabilities 3,954 3,107
Creditors: amounts falling due after more than one year 5 (8,370) (7,485)
Net Assets/ (liabilities) (4,416) (4,378)
Capital and reserves
Called up share capital 100 100
Profit and loss account (4,516) (4,478)
Shareholder's funds (4,416) (4,378)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Muqam-E-Ibrahim Mahmood
Director
Approved by the board on 20 February 2024
SCOT CREAM LIMITED
Notes to the Accounts
for the year ended 30 April 2023
1 Accounting policies
Turnover
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 good. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 10% Reducing Balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Fixture & Fittings
£
Cost
At 1 May 2022 1,370
At 30 April 2023 1,370
Depreciation
At 1 May 2022 137
Charge for the year 123
At 30 April 2023 260
Net book value
At 30 April 2023 1,110
At 30 April 2022 1,233
4 Creditors: amounts falling due within one year 2023 2022
£ £
Other creditors 1,733 749
5 Creditors: amounts falling due after one year 2023 2022
£ £
Director's loan account 8,370 7,485
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