IRIS Accounts Production v24.1.9.2 SC212123 director 1.11.22 31.10.23 31.10.23 false true false false true false Ordinary Share 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC2121232022-10-31SC2121232023-10-31SC2121232022-11-012023-10-31SC2121232021-10-31SC2121232021-11-012022-10-31SC2121232022-10-31SC212123ns15:Scotland2022-11-012023-10-31SC212123ns14:PoundSterling2022-11-012023-10-31SC212123ns10:Director12022-11-012023-10-31SC212123ns10:PrivateLimitedCompanyLtd2022-11-012023-10-31SC212123ns10:SmallEntities2022-11-012023-10-31SC212123ns10:AuditExempt-NoAccountantsReport2022-11-012023-10-31SC212123ns10:SmallCompaniesRegimeForAccounts2022-11-012023-10-31SC212123ns10:FullAccounts2022-11-012023-10-31SC212123ns10:OrdinaryShareClass12022-11-012023-10-31SC212123ns10:RegisteredOffice2022-11-012023-10-31SC212123ns5:CurrentFinancialInstruments2023-10-31SC212123ns5:CurrentFinancialInstruments2022-10-31SC212123ns5:ShareCapital2023-10-31SC212123ns5:ShareCapital2022-10-31SC212123ns5:RetainedEarningsAccumulatedLosses2023-10-31SC212123ns5:RetainedEarningsAccumulatedLosses2022-10-31SC212123ns5:PlantMachinery2022-11-012023-10-31SC212123ns5:FurnitureFittings2022-11-012023-10-31SC212123ns5:PlantMachinery2022-10-31SC212123ns5:FurnitureFittings2022-10-31SC212123ns5:PlantMachinery2023-10-31SC212123ns5:FurnitureFittings2023-10-31SC212123ns5:PlantMachinery2022-10-31SC212123ns5:FurnitureFittings2022-10-31SC212123ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-10-31SC212123ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-10-31SC212123ns10:OrdinaryShareClass12023-10-31SC212123ns5:RetainedEarningsAccumulatedLosses2022-10-31SC212123ns5:RetainedEarningsAccumulatedLosses2022-11-012023-10-31
REGISTERED NUMBER: SC212123 (Scotland)















Unaudited Financial Statements

for the Year Ended 31 October 2023

for

Ecosse Fine Art Limited

Ecosse Fine Art Limited (Registered number: SC212123)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Ecosse Fine Art Limited

Company Information
for the Year Ended 31 October 2023







DIRECTOR: J K Thomson





REGISTERED OFFICE: Unit 3
Morris Park
37 Rosyth Road
Glasgow
G5 0YE





REGISTERED NUMBER: SC212123 (Scotland)





ACCOUNTANTS: KPP Glasgow South Ltd
Chartered Certified Accountants
Unit 3 , 37 Rosyth Road
Morris Park
Glasgow
G5 0YE

Ecosse Fine Art Limited (Registered number: SC212123)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 10,754 14,339

CURRENT ASSETS
Stocks 5 8,527 12,748
Debtors 6 171,861 160,833
Cash at bank and in hand 1,498 1,307
181,886 174,888
CREDITORS
Amounts falling due within one year 7 50,839 46,594
NET CURRENT ASSETS 131,047 128,294
TOTAL ASSETS LESS CURRENT
LIABILITIES

141,801

142,633

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 141,701 142,533
SHAREHOLDERS' FUNDS 141,801 142,633

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

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

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 July 2024 and were signed by:





J K Thomson - Director


Ecosse Fine Art Limited (Registered number: SC212123)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Ecosse Fine Art 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.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 33.33% on cost - straight line

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Ecosse Fine Art Limited (Registered number: SC212123)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 November 2022
and 31 October 2023 30,649 5,924 36,573
DEPRECIATION
At 1 November 2022 16,310 5,924 22,234
Charge for year 3,585 - 3,585
At 31 October 2023 19,895 5,924 25,819
NET BOOK VALUE
At 31 October 2023 10,754 - 10,754
At 31 October 2022 14,339 - 14,339

5. STOCKS
31.10.23 31.10.22
£    £   
Stocks 8,527 12,748

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 89,861 74,164
Other Debtors - 4,669
Bridesmill Ltd 82,000 82,000
171,861 160,833

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade creditors 13,694 22,544
Tax 12,756 15,873
Social security and other taxes 7,230 1,079
Wages creditor 1,021 -
VAT 15,358 7,098
Accrued expenses 780 -
50,839 46,594

Ecosse Fine Art Limited (Registered number: SC212123)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.23 31.10.22
value: £    £   
100 Ordinary Share £1 100 100

9. RESERVES
Retained
earnings
£   

At 1 November 2022 142,533
Profit for the year 15,605
Dividends (16,437 )
At 31 October 2023 141,701