Acorah Software Products - Accounts Production 15.0.600 false true false 30 January 2023 31 January 2024 31 January 2024 SC757020 Ms J E McConnell iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC757020 2023-01-29 SC757020 2024-01-31 SC757020 2023-01-30 2024-01-31 SC757020 frs-core:CurrentFinancialInstruments 2024-01-31 SC757020 frs-core:ShareCapital 2024-01-31 SC757020 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31 SC757020 frs-bus:PrivateLimitedCompanyLtd 2023-01-30 2024-01-31 SC757020 frs-bus:FilletedAccounts 2023-01-30 2024-01-31 SC757020 frs-bus:SmallEntities 2023-01-30 2024-01-31 SC757020 frs-bus:AuditExempt-NoAccountantsReport 2023-01-30 2024-01-31 SC757020 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-30 2024-01-31 SC757020 frs-bus:Director1 2023-01-30 2024-01-31 SC757020 frs-countries:Scotland 2023-01-30 2024-01-31
Registered number: SC757020
Spinning Yarns Ltd
Unaudited Financial Statements
For the Period 30 January 2023 to 31 January 2024
Sense Accounting Limited
36 Bruntsfield Place
Edinburgh
EH10 4HJ
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: SC757020
31 January 2024
Notes £ £
CURRENT ASSETS
Debtors 4 37,807
Cash at bank and in hand 58,643
96,450
Creditors: Amounts Falling Due Within One Year 5 (27,325 )
NET CURRENT ASSETS (LIABILITIES) 69,125
TOTAL ASSETS LESS CURRENT LIABILITIES 69,125
NET ASSETS 69,125
CAPITAL AND RESERVES
Called up share capital 6 1
Profit and Loss Account 69,124
SHAREHOLDERS' FUNDS 69,125
Page 1
Page 2
For the period ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Ms J E McConnell
Director
3 October 2024
The notes on pages 3 to 4 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Spinning Yarns Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC757020 . The registered office is Flat 3 21b Brunswick Road, Edinburgh, EH7 5FN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Taxation
Income tax expense represents the sum of the tax currently payable.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 1
1
4. Debtors
31 January 2024
£
Due within one year
Trade debtors 22,400
Prepayments and accrued income 15,407
37,807
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5. Creditors: Amounts Falling Due Within One Year
31 January 2024
£
Corporation tax 19,498
Accruals and deferred income 821
Director's loan account 7,006
27,325
6. Share Capital
31 January 2024
£
Allotted, Called up and fully paid 1
7. Related Party Transactions
As at 31 January 2024, the amount owed to Ms J E McConnell by the company was £7,006.
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