Company No:
Contents
2023 | 2022 | |||
£ | £ | |||
Current assets | ||||
Cash at bank and in hand |
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37,761 | 19,761 | |||
Creditors: amounts falling due within one year | 3 | (
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Net current liabilities | (739) | (739) | ||
Total assets less current liabilities | (739) | (739) | ||
Net liabilities | (
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Capital and reserves | ||||
Called-up share capital | 4 |
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Profit and loss account | (
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Total shareholders' deficit | (
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Directors' responsibilities:
The financial statements of Elgin Storage Limited (registered number:
Mr S Harper
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Elgin Storage Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is S&D Harper Ltd, Edgar Road, Elgin, IV30 6YQ, Scotland, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
Although the financial statements have net current liabilities of £739, they have been prepared on the going concern basis as the directors consider it appropriate to do so. In coming to this conclusion the directors have agreed to financially support the company to ensure that all liabilities are met as they fall due.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs.
Basic financial liabilities
Basic financial liabilities, including creditors, are recognised at transaction price.
Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.
2023 | 2022 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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2023 | 2022 | ||
£ | £ | ||
Other creditors |
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2023 | 2022 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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Other related party transactions
2023 | 2022 | ||
£ | £ | ||
Other Related Parties | 38,500 | 20,500 |
This loan is interest free and has no fixed terms of repayment.