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MAYBOLE UPHOLSTERY LTD

Registered Number
SC613242
(Scotland)

Unaudited Financial Statements for the Year ended
30 November 2023

MAYBOLE UPHOLSTERY LTD
Company Information
for the year from 1 December 2022 to 30 November 2023

Directors

GREEN, Alan Dunlop
GREEN, Ileen Jane

Registered Address

C/O Mccreath Accountancy Lomond House
4 South Street
Inchinnan
PA4 9RJ

Registered Number

SC613242 (Scotland)
MAYBOLE UPHOLSTERY LTD
Balance Sheet as at
30 November 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets31,0711,901
1,0711,901
Current assets
Debtors54031,018
Cash at bank and on hand12,83417,544
13,37448,562
Creditors amounts falling due within one year4(14,862)(46,834)
Net current assets (liabilities)(1,488)1,728
Total assets less current liabilities(417)3,629
Creditors amounts falling due after one year5-(3,060)
Net assets(417)569
Capital and reserves
Profit and loss account(417)569
Shareholders' funds(417)569
The financial statements were approved and authorised for issue by the Board of Directors on 30 July 2024, and are signed on its behalf by:
GREEN, Alan Dunlop
Director
Registered Company No. SC613242
MAYBOLE UPHOLSTERY LTD
Notes to the Financial Statements
for the year ended 30 November 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares 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 accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
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.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
2.Average number of employees

20232022
Average number of employees during the year33
3.Tangible fixed assets

Plant & machinery

Vehicles

Fixtures & fittings

Total

££££
Cost or valuation
At 01 December 224,12919,33193624,396
At 30 November 234,12919,33193624,396
Depreciation and impairment
At 01 December 222,38719,56754122,495
Charge for year436-394830
At 30 November 232,82319,56793523,325
Net book value
At 30 November 231,306(236)11,071
At 30 November 221,742(236)3951,901
4.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables-32,012
Bank borrowings and overdrafts7,3445,910
Taxation and social security7,5188,912
Total14,86246,834
5.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts-3,060
Total-3,060