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REGISTERED NUMBER: SC388443 (Scotland)















Unaudited Financial Statements

for the Year Ended 30 November 2023

for

Gordon Smith Joinery Ltd.

Gordon Smith Joinery Ltd. (Registered number: SC388443)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Gordon Smith Joinery Ltd.

Company Information
for the Year Ended 30 November 2023







DIRECTORS: Mr G Smith
Mrs P M Smith





REGISTERED OFFICE: Kingscrown House
Stuartfield
Peterhead
Aberdeenshire
AB42 5DU





REGISTERED NUMBER: SC388443 (Scotland)





ACCOUNTANTS: SBP
Accountants
Glebefield House
21 Links Terrace
Peterhead
Aberdeenshire
AB42 2XA

Gordon Smith Joinery Ltd. (Registered number: SC388443)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 14,859 16,379

CURRENT ASSETS
Stocks 200 200
Debtors 5 11,385 13,235
Cash at bank 15,192 26,470
26,777 39,905
CREDITORS
Amounts falling due within one year 6 10,702 19,344
NET CURRENT ASSETS 16,075 20,561
TOTAL ASSETS LESS CURRENT
LIABILITIES

30,934

36,940

PROVISIONS FOR LIABILITIES 573 687
NET ASSETS 30,361 36,253

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings 30,358 36,250
SHAREHOLDERS' FUNDS 30,361 36,253

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

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

Gordon Smith Joinery Ltd. (Registered number: SC388443)

Balance Sheet - continued
30 November 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 Board of Directors and authorised for issue on 26 March 2024 and were signed on its behalf by:





Mr G Smith - Director


Gordon Smith Joinery Ltd. (Registered number: SC388443)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Gordon Smith Joinery 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.

Turnover
Turnover represents the amounts (excluding value added tax) derived from the provision of services to customers. Revenue is recognised at the point services are provided.

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 - 5% on cost
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Tangible fixed assets are included at cost less depreciation and impairment. The residual value is reassessed at the end of each accounting period.

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.

3. EMPLOYEES AND DIRECTORS

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

Gordon Smith Joinery Ltd. (Registered number: SC388443)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

4. TANGIBLE FIXED ASSETS
Freehold Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 December 2022 18,357 5,329 13,700 653 38,039
Additions - 458 - - 458
At 30 November 2023 18,357 5,787 13,700 653 38,497
DEPRECIATION
At 1 December 2022 5,596 4,486 11,363 215 21,660
Charge for year 918 260 584 216 1,978
At 30 November 2023 6,514 4,746 11,947 431 23,638
NET BOOK VALUE
At 30 November 2023 11,843 1,041 1,753 222 14,859
At 30 November 2022 12,761 843 2,337 438 16,379

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 3,270 4,316
Other debtors 8,115 8,919
11,385 13,235

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Taxation and social security 4,014 3,911
Other creditors 6,688 15,433
10,702 19,344