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Company registration number: SC370389
Sheiling Ventures Ltd
Unaudited filleted financial statements
31 March 2024
Sheiling Ventures Ltd
Contents
Directors and other information
Accountants report
Statement of financial position and notes to the financial statements
Sheiling Ventures Ltd
Directors and other information
Director Glyn Jones
Secretary Alexandra Jones
Company number SC370389
Registered office 15 Tennent Park
Mid Calder
West Lothian
EH53 0RF
Business address 15 Tennent Park
Mid Calder
West Lothian
EH53 0RF
Accountants Barrie Scott & Co.
30 Mid Street
Bathgate
EH48 1PT
Sheiling Ventures Ltd
Report to the director on the preparation of the
unaudited statutory financial statements of Sheiling Ventures Ltd
Year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Sheiling Ventures Ltd for the year ended 31 March 2024 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of ICAS , we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.
This report is made solely to the director of Sheiling Ventures Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Sheiling Ventures Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sheiling Ventures Ltd and its director as a body for our work or for this report.
It is your duty to ensure that Sheiling Ventures Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Sheiling Ventures Ltd. You consider that Sheiling Ventures Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Sheiling Ventures Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Barrie Scott & Co.
Accountants & Tax Advisers
30 Mid Street
Bathgate
EH48 1PT
18 September 2024
Sheiling Ventures Ltd
Statement of financial position
31 March 2024
2024 2023
£ £ £ £
Fixed assets 13,011 17,685
_______ _______
Current assets 18,758 33,607
Prepayments and accrued income 12,253 14,130
_______ _______
31,011 47,737
Creditors: amounts falling due within one year ( 40,491) ( 46,670)
_______ _______
Net current (liabilities)/assets ( 9,480) 1,067
_______ _______
Total assets less current liabilities 3,531 18,752
Creditors: amounts falling due after more than one year ( 38,676) ( 49,170)
Accruals and deferred income ( 2,795) ( 2,847)
_______ _______
Net liabilities ( 37,940) ( 33,265)
_______ _______
Capital and reserves ( 37,940) ( 33,265)
_______ _______
Notes to the financial statements
Sheiling Ventures Ltd
Year ended 31 March 2024
1. Employee numbers
The average number of persons employed by the company during the year amounted to 7 (2023: 8 ).
2. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Glyn Jones 17,822 - ( 17,822) -
_______ _______ _______ _______
2023
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Glyn Jones 9,717 8,105 - 17,822
_______ _______ _______ _______
Interest is charged on the director's loan and there are no fixed terms of repayment.
The director has provided personal guarantees for the Funding Circle loan on a decreasing basis matching the reduction of the loan. At the year end the guarantees amounted to £16,394 (31 March 2023: £21,198).
3. Going concern
These accounts are prepared on a Going Concern basis the validity of which depends on the continued support of the company's bankers.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsiblities:
- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The financial statements have been prepared in accordance with the micro-entity provisions and have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
These financial statements were approved by the board of directors and authorised for issue on 27 August 2024 , and are signed on behalf of the board by:
Glyn Jones
Director
Company registration number: SC370389
The company is a private company limited by shares, registered in Scotland.