Registered number
SC259626
Elie Retailing Ltd
Unaudited Financial Statements for the year ended
30 November 2023
Elie Retailing Ltd
Company Information
Directors
Ian McIntosh
Catherine McIntosh
Registered office
50 High Street
Elie
Fife
KY9 1DB
Registered number
SC259626
Elie Retailing Ltd
Registered number: SC259626
Directors' Report
The directors present their report and accounts for the year ended 30 November 2023.
Principal activities
The company's principal activity during the year continued to be the sale of newspapers, tobacco, groceries, confectionary, gifts and toys.
Dividends
The Directors have paid a dividend of £20 per share (2022 - £40).
Directors
The directors of the company and their interest in the shares of the company are as follows:
2023 2022
£1 Ordinary Shares £1 Ordinary Shares
Ian McIntosh 50 50
Catherine McIntosh 50 50
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 6 August 2024 and signed on its behalf:
Catherine McIntosh
Secretary
Elie Retailing Ltd
Registered number: SC259626
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 51,829 52,170
Current assets
Stocks 23,576 22,060
Debtors 5 2,504 824
Cash at bank and in hand 23,448 29,619
49,528 52,503
Creditors: amounts falling due within one year 6 (7,228) (11,193)
Net current assets 42,300 41,310
Net assets 94,129 93,480
Capital and reserves
Called up share capital 100 100
Profit and loss account 94,029 93,380
Shareholders' funds 94,129 93,480
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act 2006 for the year ended 30 November 2023.
The directors acknowledge their responsibilities for preparing accounts which give a true and fair view of the state of affairs of the company as at 30 November 2023, and of its profit for the financial year, in accordance with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Statement has not been delivered to the Registrar of Companies.
These financial statements were approved by the board on 6 August 2024 and signed on its behalf by:
Ian McIntosh
Director
Elie Retailing Ltd
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover represents the value, net of value added tax and discounts, of newspapers, tobacco, groceries, confectionary, gifts and toys provided to customers.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Motor vehicles 25% reducing balance
Stocks
Stock consists of stationery, confectionary, toys, groceries, tobacco, magazines and cards and are included at last cost.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Taxation 2023 2022
£ £
Provision for Corporation Tax @ 19% (2022 - 19%) 701 4,436
701 4,436
No provision has been made for deferred taxation as in the opinion of the director it is unlikely a liability will arise in the foreseeable future.
3 Employees 2023 2022
Number Number
Average number of persons employed by the company 4 4
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 December 2022 50,798 28,088 9,176 88,062
At 30 November 2023 50,798 28,088 9,176 88,062
Depreciation
At 1 December 2022 - 27,635 8,257 35,892
Charge for the year - 111 230 341
At 30 November 2023 - 27,746 8,487 36,233
Net book value
At 30 November 2023 50,798 342 689 51,829
At 30 November 2022 50,798 453 919 52,170
5 Debtors 2023 2022
£ £
Trade debtors 635 437
VAT - -
Other debtors 1,869 387
2,504 824
6 Creditors: amounts falling due within one year 2023 2022
£ £
Creditors Directors' loan acccout - 306
Creditors Loan payable < 1 year - 3,081
Trade creditors 3,552 -
Taxation and social security costs 2,239 6,417
Other creditors 1,437 1,389
7,228 11,193
7 Related party transactions 2023 2022
£ £
Ian McIntosh
Director
The loan to cover the cost of the purchase of the building and fixed assets was paid off during 2023. - 1,847
Catherine McIntosh
Director
The loan to cover the cost of the purchase of the building and fixed assets was paid off during 2023. - 1,540
8 Controlling party
The directors confirm that in their opinion , the company has no ultimate controlling party.
9 Other information
Elie Retailing Ltd is a private company limited by shares and incorporated in Scotland. Its registered office is:
50 High Street
Elie
Fife
KY9 1DB
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