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REGISTERED NUMBER: SC484240 (Scotland)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

FOR

AB SPEY LTD

AB SPEY LTD (REGISTERED NUMBER: SC484240)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


AB SPEY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2023







DIRECTORS: Mr P Jones
Mrs H M Jones



REGISTERED OFFICE: 24 Craigellachie Crescent
Aviemore
Inverness-shire
PH22 1PA



REGISTERED NUMBER: SC484240 (Scotland)



ACCOUNTANTS: Ross + Co Accountancy Limited
31 Strathspey Avenue
Aviemore
PH22 1SN



BANKERS: Bank of Scotland
Grampian Road
Aviemore
PH22 1RH

AB SPEY LTD (REGISTERED NUMBER: SC484240)

BALANCE SHEET
31 AUGUST 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,485 6,944

CURRENT ASSETS
Stocks 2,116 7,444
Debtors 5 7,941 7,640
Cash at bank 12,363 5,724
22,420 20,808
CREDITORS
Amounts falling due within one year 6 6,785 5,369
NET CURRENT ASSETS 15,635 15,439
TOTAL ASSETS LESS CURRENT LIABILITIES 22,120 22,383

PROVISIONS FOR LIABILITIES 7 1,232 1,319
NET ASSETS 20,888 21,064

CAPITAL AND RESERVES
Allotted, called up and fully paid share
capital

8

100

100
Profit and loss account - distributable 20,788 20,964
SHAREHOLDERS' FUNDS 20,888 21,064

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

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

AB SPEY LTD (REGISTERED NUMBER: SC484240)

BALANCE SHEET - continued
31 AUGUST 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 March 2024 and were signed on its behalf by:




Mr P Jones - Director



Mrs H M Jones - Director


AB SPEY LTD (REGISTERED NUMBER: SC484240)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023


1. STATUTORY INFORMATION

Ab Spey 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.

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.

The financial statements have been prepared under the going concern basis as in the opinion of the directors there is adequate finance available to the company in order to continue in operation for the foreseeable future.

TURNOVER
Turnover represents net invoiced sales of services, excluding value added tax under the Flat Rate Scheme.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on reducing balance, 25% on reducing balance and 15% on reducing balance

TAXATION
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount of tax expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

DEFERRED TAX
Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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 balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued, non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

DEBTORS AND CREDITORS RECEIVABLE/PAYABLE WITHIN ONE YEAR
Debtors and creditors with no stated interest 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 other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

AB SPEY LTD (REGISTERED NUMBER: SC484240)

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


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2022 19,265
Additions 2,698
Disposals (1,965 )
At 31 August 2023 19,998
DEPRECIATION
At 1 September 2022 12,321
Charge for year 2,450
Eliminated on disposal (1,258 )
At 31 August 2023 13,513
NET BOOK VALUE
At 31 August 2023 6,485
At 31 August 2022 6,944

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 7,644 7,343
Other debtors 297 297
7,941 7,640

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 4,848 3,564
Other creditors 1,937 1,805
6,785 5,369

Included in other creditors is a loan from the Directors, Mr & Mrs Jones. At the balance sheet date this loan amounted to £737 (2022: £605). The loan is repayable when the company has the funds available and is granted interest free.

7. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 1,232 1,319

AB SPEY LTD (REGISTERED NUMBER: SC484240)

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


7. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 September 2022 1,319
Provided during year (87 )
Balance at 31 August 2023 1,232

8. ALLOTTED, CALLED UP AND FULLY PAID SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling parties are the Directors, Mr & Mrs Jones, by virtue of their 100% equal ownership of the issued Ordinary Share Capital.