Company Registration No. SC379219 (Scotland)
Layer Systems Limited
Unaudited accounts
for the year ended 31 May 2024
Layer Systems Limited
Unaudited accounts
Contents
Layer Systems Limited
Company Information
for the year ended 31 May 2024
Directors
Michelle Livingstone
NIcholas Kewney
Company Number
SC379219 (Scotland)
Registered Office
16 Mcphater Street
Ground Floor Orient Building,
Glasgow
Scotland
G4 0HW
Layer Systems Limited
Statement of financial position
as at 31 May 2024
Intangible assets
553,885
416,723
Tangible assets
2,221
5,092
Cash at bank and in hand
38,205
126,513
Creditors: amounts falling due within one year
(364,097)
(256,525)
Net current (liabilities)/assets
(223,963)
86,315
Total assets less current liabilities
332,143
508,130
Creditors: amounts falling due after more than one year
(1,045,625)
(1,143,710)
Net liabilities
(713,482)
(635,580)
Called up share capital
4
4
Profit and loss account
(713,486)
(635,584)
Shareholders' funds
(713,482)
(635,580)
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 9 September 2024 and were signed on its behalf by
Michelle Livingstone
Director
Company Registration No. SC379219
Layer Systems Limited
Notes to the Accounts
for the year ended 31 May 2024
Layer Systems Limited is a private company, limited by shares, registered in Scotland, registration number SC379219. The registered office is 16 Mcphater Street, Ground Floor Orient Building,, Glasgow, Scotland, G4 0HW.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
33% straight line
Computer equipment
33% straight line
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Other
Charge for the year
62,388
Layer Systems Limited
Notes to the Accounts
for the year ended 31 May 2024
5
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 June 2023
620
7,143
25,975
33,738
At 31 May 2024
620
7,325
25,975
33,920
At 1 June 2023
620
6,838
21,188
28,646
Charge for the year
-
237
2,816
3,053
At 31 May 2024
620
7,075
24,004
31,699
At 31 May 2024
-
250
1,971
2,221
At 31 May 2023
-
305
4,787
5,092
Amounts falling due within one year
Trade debtors
26,442
93,811
Accrued income and prepayments
9,593
9,805
Other debtors
65,894
112,711
7
Creditors: amounts falling due within one year
2024
2023
Trade creditors
39,478
33,400
Taxes and social security
11,922
7,802
Other creditors
100,657
144,604
Loans from directors
109,847
56,167
8
Creditors: amounts falling due after more than one year
2024
2023
Other creditors
1,045,625
1,143,710
9
Average number of employees
During the year the average number of employees was 15 (2023: 15).