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REGISTERED NUMBER: SC294464 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Easyways Limited

Easyways Limited (Registered number: SC294464)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


Easyways Limited (Registered number: SC294464)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £   
FIXED ASSETS
Intangible assets 4 57,290 36,000
Tangible assets 5 2,396 2,373
59,686 38,373

CURRENT ASSETS
Debtors 6 72,619 62,457
Cash at bank 129,824 104,457
202,443 166,914
CREDITORS
Amounts falling due within one year 7 (52,776 ) (52,586 )
NET CURRENT ASSETS 149,667 114,328
TOTAL ASSETS LESS CURRENT
LIABILITIES

209,353

152,701

CREDITORS
Amounts falling due after more than one
year

8

(144,346

)

(145,343

)
NET ASSETS 65,007 7,358

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 64,907 7,258
65,007 7,358

Easyways Limited (Registered number: SC294464)

Balance Sheet - continued
31 December 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 director and authorised for issue on 13 August 2024 and were signed by:





Mr A Fernie - Director


Easyways Limited (Registered number: SC294464)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Easyways Limited is a private company, limited by shares, domiciled in Scotland, registration number SC294464. The registered office is Haypark, Marchmont Avenue, Polmont, Falkirk, FK2 0NZ.

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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents invoiced sales of services in respect of providing organised tour guides, including value added tax. Sales are recognised at the point at which the service is complete.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of ten years.

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.

Tangible fixed assets and depreciation
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 reducing balance and 20% on reducing balance

Tangible fixed assets are stated at cost less depreciation. Cost represents purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

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.


Easyways Limited (Registered number: SC294464)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
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.

Provisions
Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is
determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023 40,000
Additions 28,100
At 31 December 2023 68,100
AMORTISATION
At 1 January 2023 4,000
Charge for year 6,810
At 31 December 2023 10,810
NET BOOK VALUE
At 31 December 2023 57,290
At 31 December 2022 36,000

Easyways Limited (Registered number: SC294464)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 29,887
Additions 823
Disposals (13,809 )
At 31 December 2023 16,901
DEPRECIATION
At 1 January 2023 27,514
Charge for year 686
Eliminated on disposal (13,695 )
At 31 December 2023 14,505
NET BOOK VALUE
At 31 December 2023 2,396
At 31 December 2022 2,373

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Amounts owed by related parties 72,619 62,457

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Taxation and social security 23,460 9,705
Other creditors 29,316 42,881
52,776 52,586

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Other creditors 144,346 145,343

9. RELATED PARTY DISCLOSURES

At the year end 31 December 2023, Easyways Ltd were owed £72,619 from related parties (2023: £55,719).