Company registration number SC572415 (Scotland)
Clara Rey Limited
Unaudited financial statements
for the year ended 31 July 2023
Pages for filing with registrar
Clara Rey Limited
Chartered Accountants' report to the board of directors on the preparation of the
unaudited statutory financial statements of Clara Rey Limited
1

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Clara Rey Limited for the year ended 31 July 2023 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the ICAS we are subject to its ethical and other professional requirements which are detailed at https://www.icas.com/professional-resources/practice/support-and-guidance/framework-for-the-preparation-of-accounts-revised-june-2020.

This report is made solely to the Board of Directors of Clara Rey Limited, as a body, in accordance with the terms of our engagement letter dated 11 February 2019. Our work has been undertaken solely to prepare for your approval the financial statements of Clara Rey Limited and state those matters that we have agreed to state to the Board of Directors of Clara Rey Limited, as a body, in this report in accordance with the requirements of the ICAS as detailed at https://www.icas.com/professional-resources/practice/support-and-guidance/framework-for-the-preparation-of-accounts-revised-june-2020. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Clara Rey Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Clara Rey Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Clara Rey Limited. You consider that Clara Rey Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Clara Rey Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

James Milne
Chartered Accountants
5 Bon Accord Square
Aberdeen
AB11 6XZ
24 April 2024
Clara Rey Limited
Balance sheet
as at 31 July 2023
31 July 2023
2
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
2
850
1,455
Current assets
Stocks
350
400
Debtors
126
-
0
Cash at bank and in hand
535
332
1,011
732
Creditors: amounts falling due within one year
(18,689)
(17,847)
Net current liabilities
(17,678)
(17,115)
Net liabilities
(16,828)
(15,660)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(16,928)
(15,760)
Total equity
(16,828)
(15,660)

In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Clara Rey Limited
Balance sheet (continued)
as at 31 July 2023
31 July 2023
3
The financial statements were approved by the board of directors and authorised for issue on 22 April 2024 and are signed on its behalf by:
Brian Warren
Nyree-Lynne Reid
Director
Director
Company Registration No. SC572415
Clara Rey Limited
Notes to the financial statements
for the year ended 31 July 2023
4
1
Accounting policies
Company information

Clara Rey Limited is a private company limited by shares incorporated in Scotland. The registered office is 2 Arbeadie Road, Banchory, AB31 5XB.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The company has deficiency of assets of £16,828 however included in creditors is the sum of £18,106 owed to the directors. The directors have confirmed that they will not seek payment of this amount for as long as necessary to ensure the ongoing viability of the company. The directors therefore consider it to be appropriate for the financial statements to be prepared on the going concern basis.true

1.3
Turnover

Turnover represents revenue recognised in the accounts. Revenue is recognised when the company fulfils its obligations to customers by supplying goods and services.

 

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
5 years straight line
1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Clara Rey Limited
Notes to the financial statements (continued)
for the year ended 31 July 2023
5
2
Tangible fixed assets
Total
£
Cost
At 1 August 2022 and 31 July 2023
10,884
Depreciation and impairment
At 1 August 2022
9,429
Depreciation charged in the year
605
At 31 July 2023
10,034
Carrying amount
At 31 July 2023
850
At 31 July 2022
1,455
3
Directors' transactions

During the year the directors entered into the following advances and credits with the company :

 

Description
Opening credit  balance
Amounts advanced
Closing                                                      credit                                                     balance
£
£
£
Brian Warren - Director's loan
6,183
-
6,183
Nyree-Lynne Reid - Director's loan
10,534
1,389
11,923
16,717
1,389
18,106
2023-07-312022-08-01false24 April 2024CCH SoftwareCCH Accounts Production 2024.100No description of principal activityBrian WarrenNyree-Lynne Reidfalsefalse00SC5724152022-08-012023-07-31SC5724152023-07-31SC5724152022-07-31SC572415core:CurrentFinancialInstruments2023-07-31SC572415core:CurrentFinancialInstruments2022-07-31SC572415core:ShareCapital2023-07-31SC572415core:ShareCapital2022-07-31SC572415core:RetainedEarningsAccumulatedLosses2023-07-31SC572415core:RetainedEarningsAccumulatedLosses2022-07-31SC572415bus:Director12022-08-012023-07-31SC572415bus:Director22022-08-012023-07-31SC572415core:PlantMachinery2022-08-012023-07-31SC5724152022-07-31SC572415bus:PrivateLimitedCompanyLtd2022-08-012023-07-31SC572415bus:SmallCompaniesRegimeForAccounts2022-08-012023-07-31SC572415bus:FRS1022022-08-012023-07-31SC572415bus:AuditExemptWithAccountantsReport2022-08-012023-07-31SC572415bus:FullAccounts2022-08-012023-07-31SC5724152021-08-012022-07-31xbrli:purexbrli:sharesiso4217:GBP