Registered number
SC334213
Stuff 'n Stuff Ltd
Filleted Accounts
30 November 2023
Stuff 'n Stuff Ltd
Registered number: SC334213
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 2 750,000 750,000
Investments 3 1 1
750,001 750,001
Current assets
Debtors 4 - 9
Cash at bank and in hand 22,536 4,812
22,536 4,821
Creditors: amounts falling due within one year 5 (4,617) (2,585)
Net current assets 17,919 2,236
Total assets less current liabilities 767,920 752,237
Creditors: amounts falling due after more than one year 6 (1,002,296) (1,002,296)
Net liabilities (234,376) (250,059)
Capital and reserves
Called up share capital 100 100
Revaluation reserve 8 (262,500) (262,500)
Profit and loss account 28,024 12,341
Shareholders' funds (234,376) (250,059)
Average employee numbers - -
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
D M Graham
Director
Approved by the board on 3 September 2024
Stuff 'n Stuff Ltd
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% straight line
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 December 2022 750,000 30,626 12,348 792,974
At 30 November 2023 750,000 30,626 12,348 792,974
Depreciation
At 1 December 2022 - 30,626 12,348 42,974
At 30 November 2023 - 30,626 12,348 42,974
Net book value
At 30 November 2023 750,000 - - 750,000
At 30 November 2022 750,000 - - 750,000
The property was valued by the directors in 2020 on an open market basis.
3 Investments
Other
investments
£
Cost
At 1 December 2022 1
At 30 November 2023 1
4 Debtors 2023 2022
£ £
Other debtors - 9
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 4,617 2,585
6 Creditors: amounts falling due after one year 2023 2022
£ £
Other creditors 1,002,296 1,002,296
7 Loans 2023 2022
£ £
Creditors include:
Secured bank loans 216,567 256,992
8 Revaluation reserve 2023 2022
£ £
At 1 December 2022 (262,500) (262,500)
At 30 November 2023 (262,500) (262,500)
9 Other information
Stuff 'n Stuff Ltd is a private company limited by shares and incorporated in Scotland. Its registered office is:
1/1151 Whitehill Street
Glasgow
G31 2LS
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