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PICOSDELI LIMITED

Registered Number
SC760343
(Scotland)

Unaudited Financial Statements for the Period ended
29 February 2024

PICOSDELI LIMITED
Company Information
for the period from 27 February 2023 to 29 February 2024

Directors

GALLAGHER, Annmarie
RUIZ, Sergio Arevalo

Registered Address

104 Allardice Street
Stonehaven
AB39 2AH

Registered Number

SC760343 (Scotland)
PICOSDELI LIMITED
Balance Sheet as at
29 February 2024

Notes

2024

£

£

ASSETS
Fixed assets
Tangible assets315,400
15,400
Current assets
Debtors511,758
Cash at bank and in hand7,859
19,617
19,617
35,017
CAPITAL, RESERVES AND LIABILITIES
Capital and reserves
Called up share capital100
Profit and loss account(5,403)
(5,303)
Liabilities
Creditors amounts falling due within one year629,856
Creditors amounts falling due after one year710,464
35,017
The financial statements were approved and authorised for issue by the Board of Directors on 23 September 2024, and are signed on its behalf by:
RUIZ, Sergio Arevalo
Director
Registered Company No. SC760343
PICOSDELI LIMITED
Notes to the Financial Statements
for the period ended 29 February 2024

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 accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Plant and machinery4
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
Trade and other 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.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other 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.
2.Average number of employees

2024
Average number of employees during the year3
3.Tangible fixed assets

Total

£
Cost or valuation
Additions16,965
At 29 February 2416,965
Depreciation and impairment
Charge for year1,565
At 29 February 241,565
Net book value
At 29 February 2415,400
At 26 February 23-
4.Stocks
5.Debtors: amounts due within one year

2024

£
Trade debtors / trade receivables9,069
Other debtors2,689
Total11,758
6.Creditors: amounts due within one year

2024

£
Trade creditors / trade payables3,199
Taxation and social security163
Other creditors26,046
Accrued liabilities and deferred income448
Total29,856
7.Creditors: amounts due after one year

2024

£
Other creditors10,464
Total10,464