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REGISTERED NUMBER: SC346442 (Scotland)















I Aberdeen Limited

Financial Statements For The Year Ended 30 June 2023






I Aberdeen Limited (Registered number: SC346442)






Contents of the Financial Statements
For The Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


I Aberdeen Limited

Company Information
For The Year Ended 30 June 2023







DIRECTOR: Mr A E Merrin



REGISTERED OFFICE: 63 Moss Street
Elgin
Moray
IV30 1LT



REGISTERED NUMBER: SC346442 (Scotland)



ACCOUNTANTS: Cathedral Accountancy
4 North Guildry Street
Elgin
Moray
IV30 1JR



BANKERS: Barclays Bank Plc
Leicester
LE87 2BB

I Aberdeen Limited (Registered number: SC346442)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 797 1,591

CURRENT ASSETS
Stocks 1,500 1,000
Debtors 5 58,516 29,811
60,016 30,811
CREDITORS
Amounts falling due within one year 6 46,949 25,369
NET CURRENT ASSETS 13,067 5,442
TOTAL ASSETS LESS CURRENT
LIABILITIES

13,864

7,033

CREDITORS
Amounts falling due after more than one
year

7

14,330

15,973
NET LIABILITIES (466 ) (8,940 )

CAPITAL AND RESERVES
Called up share capital 8 10 10
Retained earnings 9 (476 ) (8,950 )
SHAREHOLDERS' FUNDS (466 ) (8,940 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

I Aberdeen Limited (Registered number: SC346442)

Balance Sheet - continued
30 June 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 March 2024 and were signed by:





Mr A E Merrin - Director


I Aberdeen Limited (Registered number: SC346442)

Notes to the Financial Statements
For The Year Ended 30 June 2023

1. STATUTORY INFORMATION

I Aberdeen 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
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.
Fixtures and fittings - 33% on cost and 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 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.

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.

Going concern
The company's liabilities exceed its assets by £466. The directors and shareholders have confirmed that they will maintain financial support to enable the company to meet its day to day working capital requirements and to continue normal operations for the foreseeable future. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

I Aberdeen Limited (Registered number: SC346442)

Notes to the Financial Statements - continued
For The Year Ended 30 June 2023

4. TANGIBLE FIXED ASSETS
Equipment
£   
COST
At 1 July 2022
and 30 June 2023 3,362
DEPRECIATION
At 1 July 2022 1,771
Charge for year 794
At 30 June 2023 2,565
NET BOOK VALUE
At 30 June 2023 797
At 30 June 2022 1,591

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 22,164 9,172
Other debtors 36,352 20,639
58,516 29,811

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans and overdrafts 15,510 9,588
Trade creditors 15,784 12,032
Taxation and social security 5,836 2,087
Other creditors 9,819 1,662
46,949 25,369

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.23 30.6.22
£    £   
Bank loans 14,330 15,973

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.23 30.6.22
value: £    £   
10 Ordinary 1 10 10

I Aberdeen Limited (Registered number: SC346442)

Notes to the Financial Statements - continued
For The Year Ended 30 June 2023

9. RESERVES
Retained
earnings
£   

At 1 July 2022 (8,950 )
Profit for the year 8,474
At 30 June 2023 (476 )

10. RELATED PARTY DISCLOSURES

At 30 June 2022 the director owed the company £14,979. During the year the company met expenses
totalling £12,340 on behalf of the director. At 30 June 2023 the director owed the company £27,319. This loan is interest free and has no fixed terms of repayment.