2023-04-012024-03-312024-03-31falseSC625904I LOVE CLARKSTON 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I LOVE CLARKSTON LTD

Registered Number
SC625904
(Scotland)

Unaudited Financial Statements for the Year ended
31 March 2024

I LOVE CLARKSTON LTD
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

MCHARG, Alison
PERRY, Jane
STEWART, Deborah

Company Secretary

DUNLOP, Andy

Registered Address

The Foundry Business Zone
Main Street
Barrhead
G78 1SW

Registered Number

SC625904 (Scotland)
I LOVE CLARKSTON LTD
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Current assets
Debtors(63)2,873
Cash at bank and on hand5,814785
5,7513,658
Creditors amounts falling due within one year3(1,131)(1,481)
Net current assets (liabilities)4,6202,177
Total assets less current liabilities4,6202,177
Net assets4,6202,177
Capital and reserves
Profit and loss account4,6202,177
Reserves4,6202,177
The financial statements were approved and authorised for issue by the Board of Directors on 25 April 2024, and are signed on its behalf by:
MCHARG, Alison
Director
PERRY, Jane
Director
STEWART, Deborah
Director

Registered Company No. SC625904
I LOVE CLARKSTON LTD
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by guarantee and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2.Average number of employees

20242023
Average number of employees during the year00
3.Creditors: amounts due within one year

2024

2023

££
Taxation and social security1,131575
Other creditors-906
Total1,1311,481
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.