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REGISTERED NUMBER: SC315570 (Scotland)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024

FOR

SPEYSIDE IT LIMITED

SPEYSIDE IT LIMITED (REGISTERED NUMBER: SC315570)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SPEYSIDE IT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTOR: Mr M D Gregory





SECRETARY: Mrs K S Gregory





REGISTERED OFFICE: Tomanuird
Cromdale
Grantown on Spey
PH26 3LW





REGISTERED NUMBER: SC315570 (Scotland)





ACCOUNTANTS: Ross + Co Accountancy Limited
31 Strathspey Avenue
Aviemore
PH22 1SN

SPEYSIDE IT LIMITED (REGISTERED NUMBER: SC315570)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 411 822

CURRENT ASSETS
Debtors 5 425 2,600
Cash at bank 18,049 19,634
18,474 22,234
CREDITORS
Amounts falling due within one year 6 20,803 20,365
NET CURRENT (LIABILITIES)/ASSETS (2,329 ) 1,869
TOTAL ASSETS LESS CURRENT LIABILITIES (1,918 ) 2,691

PROVISIONS FOR LIABILITIES 7 72 148
NET (LIABILITIES)/ASSETS (1,990 ) 2,543

CAPITAL AND RESERVES
Allotted, called up and fully
paid share capital 8 100 100
Profit and loss account -
distributable (2,090 ) 2,443
SHAREHOLDERS' FUNDS (1,990 ) 2,543

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 September 2024 and were signed by:



Mr M D Gregory - Director


SPEYSIDE IT LIMITED (REGISTERED NUMBER: SC315570)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024


1. STATUTORY INFORMATION

Speyside IT Limited 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 from IT services, excluding value added tax.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost

TAXATION
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount of tax expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

DEFERRED TAX
Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued, non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

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.

DEBTORS AND CREDITORS RECEIVABLE/PAYABLE WITHIN ONE YEAR
Debtors and creditors with no stated interest and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

SPEYSIDE IT LIMITED (REGISTERED NUMBER: SC315570)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023
and 31 January 2024 14,920
DEPRECIATION
At 1 February 2023 14,098
Charge for year 411
At 31 January 2024 14,509
NET BOOK VALUE
At 31 January 2024 411
At 31 January 2023 822

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 168 152
Other debtors 257 2,448
425 2,600

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 2 1
Taxation and social security 137 -
Other creditors 20,664 20,364
20,803 20,365

Included in other creditors is a loan from the Director, Mr M D Gregory. At the balance sheet date this loan amounted to £10,536 (2023: £10,416). The loan is granted free of interest and is repayable on demand.

7. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 72 148

Deferred
tax
£   
Balance at 1 February 2023 148
Provided during year (76 )
Balance at 31 January 2024 72

SPEYSIDE IT LIMITED (REGISTERED NUMBER: SC315570)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


8. ALLOTTED, CALLED UP AND FULLY
PAID SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling parties are the Directors, Mr & Mrs Gregory, by virtue of their 100% equal ownership of the issued Ordinary Share Capital.