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REGISTERED NUMBER: SC711752 (Scotland)















Speyside Labs Ltd

Financial Statements For The Year Ended 31 March 2024






Speyside Labs Ltd (Registered number: SC711752)






Contents of the Financial Statements
For The Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Speyside Labs Ltd

Company Information
For The Year Ended 31 March 2024







DIRECTORS: Ms L Binnie
Mr S Hamilton



REGISTERED OFFICE: The Speyside Business Centre
8 West Street
Fochabers
Moray
IV32 7DJ



REGISTERED NUMBER: SC711752 (Scotland)



ACCOUNTANTS: Cathedral Accountancy
4 North Guildry Street
Elgin
Moray
IV30 1JR



BANKERS: Royal Bank of Scotland
Buckie
Moray
AB56 1EX

Speyside Labs Ltd (Registered number: SC711752)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,436 594

CURRENT ASSETS
Debtors 5 30,525 -
Cash at bank 14,668 15,093
45,193 15,093
CREDITORS
Amounts falling due within one year 6 25,294 10,838
NET CURRENT ASSETS 19,899 4,255
TOTAL ASSETS LESS CURRENT
LIABILITIES

22,335

4,849

PROVISIONS FOR LIABILITIES 7 532 113
NET ASSETS 21,803 4,736

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 9 21,801 4,734
SHAREHOLDERS' FUNDS 21,803 4,736

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Speyside Labs Ltd (Registered number: SC711752)

Balance Sheet - continued
31 March 2024


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 Board of Directors and authorised for issue on 8 August 2024 and were signed on its behalf by:





Mr S Hamilton - Director


Speyside Labs Ltd (Registered number: SC711752)

Notes to the Financial Statements
For The Year Ended 31 March 2024

1. STATUTORY INFORMATION

Speyside Labs Ltd 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.
Equipment - 33% on cost and 25% on reducing balance

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

Speyside Labs Ltd (Registered number: SC711752)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Computer
Equipment equipment Totals
£    £    £   
COST
At 1 April 2023 406 291 697
Additions - 2,310 2,310
At 31 March 2024 406 2,601 3,007
DEPRECIATION
At 1 April 2023 63 40 103
Charge for year 86 382 468
At 31 March 2024 149 422 571
NET BOOK VALUE
At 31 March 2024 257 2,179 2,436
At 31 March 2023 343 251 594

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 30,525 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 529 201
Taxation and social security 22,770 4,439
Other creditors 1,995 6,198
25,294 10,838

7. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 532 113

Deferred
tax
£   
Balance at 1 April 2023 113
Provided during year 419
Balance at 31 March 2024 532

Speyside Labs Ltd (Registered number: SC711752)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
2 Ordinary 1 2 2

9. RESERVES
Retained
earnings
£   

At 1 April 2023 4,734
Profit for the year 63,567
Dividends (46,500 )
At 31 March 2024 21,801

10. RELATED PARTY DISCLOSURES

During the year, total dividends of £46,500 (2023 - £10,000) were paid to the directors .

As at 31 March 2023 the company owed the directors £4,998. During the year the company s met expenditure amounting to £4,723 on behalf of the directors. As at 31 March 2024 the company owed the directors £275. This loan is interest free and has no fixed terms of repayment.