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REGISTERED NUMBER: SC267166 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Re-Face Scotland Ltd.

Re-Face Scotland Ltd. (Registered number: SC267166)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Re-Face Scotland Ltd.

Company Information
for the Year Ended 31 December 2023







DIRECTORS: A Bow
Ms J Tomlinson





SECRETARY: Ms J Tomlinson





REGISTERED OFFICE: 141 Farmeloan Road
Rutherglen
G73 1EE





REGISTERED NUMBER: SC267166 (Scotland)





ACCOUNTANTS: Accountants Plus
Chartered Certified Accountants
Unit 1 Cadzow Park
82 Muir Street
Hamilton
ML3 6BJ

Re-Face Scotland Ltd. (Registered number: SC267166)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 6,006 7,533
Tangible assets 5 454,008 469,684
460,014 477,217

CURRENT ASSETS
Stocks 7,665 7,665
Debtors 6 233,954 235,336
Cash at bank 265,878 115,776
507,497 358,777
CREDITORS
Amounts falling due within one year 7 777,478 555,731
NET CURRENT LIABILITIES (269,981 ) (196,954 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

190,033

280,263

CREDITORS
Amounts falling due after more than
one year

8

(14,806

)

(24,946

)

PROVISIONS FOR LIABILITIES (21,186 ) (24,131 )
NET ASSETS 154,041 231,186

Re-Face Scotland Ltd. (Registered number: SC267166)

Balance Sheet - continued
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 154,039 231,184
154,041 231,186

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 directors acknowledge their 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 Board of Directors and authorised for issue on 26 September 2024 and were signed on its behalf by:





A Bow - Director


Re-Face Scotland Ltd. (Registered number: SC267166)

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

1. STATUTORY INFORMATION

Re-Face Scotland Ltd. is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Development costs are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term creditors are measured at transaction price, less any impairment. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Cash and bank balances
Cash and bank balances are measured at the transaction price.


Re-Face Scotland Ltd. (Registered number: SC267166)

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

2. ACCOUNTING POLICIES - continued
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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - 12 ).

Re-Face Scotland Ltd. (Registered number: SC267166)

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

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023
and 31 December 2023 15,942
AMORTISATION
At 1 January 2023 8,409
Charge for year 1,527
At 31 December 2023 9,936
NET BOOK VALUE
At 31 December 2023 6,006
At 31 December 2022 7,533

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 399,838 435,939 835,777
Additions - 18,248 18,248
At 31 December 2023 399,838 454,187 854,025
DEPRECIATION
At 1 January 2023 78,060 288,033 366,093
Charge for year - 33,924 33,924
At 31 December 2023 78,060 321,957 400,017
NET BOOK VALUE
At 31 December 2023 321,778 132,230 454,008
At 31 December 2022 321,778 147,906 469,684

Re-Face Scotland Ltd. (Registered number: SC267166)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors (3,633 ) (4,666 )
Amounts owed by participating interests 225,795 228,210
Other debtors 4,167 4,167
Prepayments 7,625 7,625
233,954 235,336

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 10,140 9,890
Trade creditors 439,892 285,796
Tax 5,724 31,419
Social security and other taxes 6,838 3,356
Pension 341 -
VAT 39,008 41,238
Other creditors 99,524 97,335
Directors' current accounts 117,281 28,367
Accrued expenses 58,730 58,330
777,478 555,731

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans - 1-2 years 10,397 10,140
Bank loans - 2-5 years 4,409 14,806
14,806 24,946