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REGISTERED NUMBER: SC491632 (Scotland)















Unaudited Financial Statements

for the Year Ended 30 November 2023

for

Stoneywood Glazing Ltd

Stoneywood Glazing Ltd (Registered number: SC491632)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Stoneywood Glazing Ltd

Company Information
for the Year Ended 30 November 2023







DIRECTOR: Mr B A Kelman





REGISTERED OFFICE: 318 Stoneywood Road
Bucksburn
Aberdeen
AB21 9JX





REGISTERED NUMBER: SC491632 (Scotland)





ACCOUNTANTS: SBP
Accountants
42 Queens Road
Aberdeen
AB15 4YE

Stoneywood Glazing Ltd (Registered number: SC491632)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,710 19,511

CURRENT ASSETS
Debtors 5 23,245 51,672
Cash at bank - 7,970
23,245 59,642
CREDITORS
Amounts falling due within one year 6 26,512 60,838
NET CURRENT LIABILITIES (3,267 ) (1,196 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,443

18,315

CREDITORS
Amounts falling due after more than one
year

7

(6,751

)

(14,508

)

PROVISIONS FOR LIABILITIES (1,085 ) (3,707 )
NET (LIABILITIES)/ASSETS (5,393 ) 100

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (5,493 ) -
SHAREHOLDERS' FUNDS (5,393 ) 100

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 director acknowledges his 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.

Stoneywood Glazing Ltd (Registered number: SC491632)

Balance Sheet - continued
30 November 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 August 2024 and were signed by:





Mr B A Kelman - Director


Stoneywood Glazing Ltd (Registered number: SC491632)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Stoneywood Glazing 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.

At 30 November 2023 the company's liabilities exceeded it's total assets. The financial statements have been prepared on the going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The validity of this assumption is based upon the continued support of the director and shareholder.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Stoneywood Glazing Ltd (Registered number: SC491632)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 December 2022 27,791 1,176 7,627 788 37,382
Disposals (14,250 ) - (7,627 ) - (21,877 )
At 30 November 2023 13,541 1,176 - 788 15,505
DEPRECIATION
At 1 December 2022 15,292 235 1,907 437 17,871
Charge for year 1,621 188 - 260 2,069
Eliminated on disposal (8,238 ) - (1,907 ) - (10,145 )
At 30 November 2023 8,675 423 - 697 9,795
NET BOOK VALUE
At 30 November 2023 4,866 753 - 91 5,710
At 30 November 2022 12,499 941 5,720 351 19,511

Stoneywood Glazing Ltd (Registered number: SC491632)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 December 2022 14,250
Disposals (14,250 )
At 30 November 2023 -
DEPRECIATION
At 1 December 2022 8,238
Eliminated on disposal (8,238 )
At 30 November 2023 -
NET BOOK VALUE
At 30 November 2023 -
At 30 November 2022 6,012

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Other debtors 23,245 51,672

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts 4,016 4,000
Hire purchase contracts - 2,565
Trade creditors 3,619 1,351
Taxation and social security 15,702 38,610
Other creditors 3,175 14,312
26,512 60,838

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.23 30.11.22
£    £   
Bank loans 6,751 10,019
Hire purchase contracts - 4,489
6,751 14,508

Stoneywood Glazing Ltd (Registered number: SC491632)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2023 and 30 November 2022:

30.11.23 30.11.22
£    £   
Mr B A Kelman
Balance outstanding at start of year 9,236 7,454
Amounts advanced 23,022 22,723
Amounts repaid (22,660 ) (20,941 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 9,598 9,236

9. RELATED PARTY DISCLOSURES

Included in Other Debtors is £10,501 (2022 - £39,514) due from Doric Home Improvements Ltd, a company registered in Scotland, of which Mr B A Kelman is a director.

Included in Sales is £Nil (2022 - £72,156) of receipts from Doric Home Improvements Ltd, a company registered in Scotland, of which Mr B A Kelman is a director.

Management charges of £3,000 (2022 - £6,000) were paid to Doric Home Improvements Ltd, a company registered in Scotland, of which Mr B A Kelman is a director.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr B A Kelman.