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JB SCOTLAND LIMITED

Registered Number
SC639231
(Scotland)

Unaudited Financial Statements for the Year ended
31 December 2023

JB SCOTLAND LIMITED
Company Information
for the year from 1 January 2023 to 31 December 2023

Director

PERT, Iain David

Registered Address

256-260 Morrison Street
Edinburgh
EH6 5EL

Registered Number

SC639231 (Scotland)
JB SCOTLAND LIMITED
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets4-10,080
-10,080
Current assets
Stocks516,69720,994
Debtors638,44567,652
Cash at bank and on hand8,98718,267
64,129106,913
Creditors amounts falling due within one year7(338,990)(223,166)
Net current assets (liabilities)(274,861)(116,253)
Total assets less current liabilities(274,861)(106,173)
Creditors amounts falling due after one year8(36,779)(41,998)
Provisions for liabilities9(2,445)-
Net assets(314,085)(148,171)
Capital and reserves
Called up share capital100100
Profit and loss account(314,185)(148,271)
Shareholders' funds(314,085)(148,171)
The financial statements were approved and authorised for issue by the Director on 16 September 2024, and are signed on its behalf by:
PERT, Iain David
Director
Registered Company No. SC639231
JB SCOTLAND LIMITED
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Deferred tax
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Plant and machinery5
Office Equipment5
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Related parties
For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified. During the year the company wrote off the following loan balances to connected companies under common control due to non repayment and the full amount has been recognised as a bad debt expense in the income statement. There are no remaining balances outstanding with the related parties at the year end. MT Scotland Limited: £21,814, Clubhouse Group Limited: £102,968 During the year the company had the following loan balances written off by connected companies under common control due to non repayment and the full amount has been recognised in other income, in the income statement. There are no remaining balances outstanding with the related parties at the year end Clubhouse Bars Limited: £6,813, DH Scotland Limited: £2,357
2.Average number of employees

20232022
Average number of employees during the year1516
3.Deferred tax
Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.
4.Tangible fixed assets

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 January 2314,2132,00816,221
Disposals(14,213)(2,008)(16,221)
Depreciation and impairment
At 01 January 235,7334086,141
Charge for year3,5704023,972
On disposals(9,303)(810)(10,113)
Net book value
At 31 December 23---
At 31 December 228,4801,60010,080
5.Stocks

2023

2022

££
Finished goods16,69720,994
Total16,69720,994
6.Debtors: amounts due within one year

2023

2022

££
Other debtors30,76761,089
Prepayments and accrued income7,6786,563
Total38,44567,652
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.
7.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables35,75722,499
Bank borrowings and overdrafts1,350-
Taxation and social security300,796176,997
Other creditors1,08723,670
Total338,990223,166
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.
8.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts36,77941,998
Total36,77941,998
9.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)2,445-
Total2,445-
10.Controlling party
The ultimate controlling party of JB Scotland Limited is Mr. Iain Pert, who holds 100% of the issued share capital of the company.