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REGISTERED NUMBER: SC463990 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

LAURA SMITH GLASS LTD

LAURA SMITH GLASS LTD (REGISTERED NUMBER: SC463990)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 November 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


LAURA SMITH GLASS LTD

COMPANY INFORMATION
for the year ended 30 November 2023







DIRECTORS: Miss L E Smith
Miss E M Smith



REGISTERED OFFICE: 24A Ainslie Place
Edinburgh
Lothian
EH3 6AJ



BUSINESS ADDRESS: Unit C1
2 Leswin Place
London
N16 7NJ



REGISTERED NUMBER: SC463990 (Scotland)



ACCOUNTANTS: Mitchell Edwards
Chartered Certified Accountants
24A Ainslie Place
Edinburgh
EH3 6AJ



BANKERS: HSBC
76 Hanover Street
Edinburgh
Lothian
EH2 1HQ

LAURA SMITH GLASS LTD (REGISTERED NUMBER: SC463990)

BALANCE SHEET
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 39,823 39,774
Tangible assets 5 39,797 13,943
79,620 53,717

CURRENT ASSETS
Stocks 76,150 45,988
Debtors 6 11,132 1,198
Cash at bank 65,876 59,177
153,158 106,363
CREDITORS
Amounts falling due within one year 7 491,305 323,542
NET CURRENT LIABILITIES (338,147 ) (217,179 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(258,527

)

(163,462

)

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (258,627 ) (163,562 )
SHAREHOLDERS' FUNDS (258,527 ) (163,462 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 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.

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 26 August 2024 and were signed on its behalf by:





Miss L E Smith - Director


LAURA SMITH GLASS LTD (REGISTERED NUMBER: SC463990)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 November 2023


1. STATUTORY INFORMATION

Laura Smith Glass 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.

The presentation currency of the financial statements is the Pound Sterling (£), rounded to the nearest £.

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.

The company meets its day to day working capital requirements through a loan from a director. The director will continue to support the company until sufficient profitability is achieved and on this basis the directors consider it appropriate to prepare accounts on a going concern basis.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software and new brand are being amortised over it's useful economic life of 10 years.

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 etc - 25% on cost and 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 2 ) .

LAURA SMITH GLASS LTD (REGISTERED NUMBER: SC463990)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 November 2023


4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 December 2022 45,773
Additions 9,000
Disposals (4,077 )
At 30 November 2023 50,696
AMORTISATION
At 1 December 2022 5,999
Charge for year 4,874
At 30 November 2023 10,873
NET BOOK VALUE
At 30 November 2023 39,823
At 30 November 2022 39,774

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 December 2022 26,277
Additions 40,982
Disposals (281 )
At 30 November 2023 66,978
DEPRECIATION
At 1 December 2022 12,334
Charge for year 14,847
At 30 November 2023 27,181
NET BOOK VALUE
At 30 November 2023 39,797
At 30 November 2022 13,943

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 11,132 1,198

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other creditors 491,305 323,542

LAURA SMITH GLASS LTD (REGISTERED NUMBER: SC463990)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 November 2023


8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 17,125 -
Between one and five years 52,376 -
69,501 -