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REGISTERED NUMBER: SC364212 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Peggy-Betty Designs Ltd
Trading as
Bluebellgray

Peggy-Betty Designs Ltd (Registered number: SC364212)
Trading as Bluebellgray






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


Peggy-Betty Designs Ltd
Trading as Bluebellgray

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mrs F Douglas
P C Milne





REGISTERED OFFICE: 2 Stewart Street
Milngavie
Glasgow
G62 6BW





REGISTERED NUMBER: SC364212 (Scotland)





ACCOUNTANTS: Bell Barr & Company
Chartered Accountants
2 Stewart Street
Milngavie
Glasgow
G62 6BW

Peggy-Betty Designs Ltd (Registered number: SC364212)
Trading as Bluebellgray

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 239,555 253,530

CURRENT ASSETS
Stocks 105,964 188,397
Debtors 5 6,066 15,852
Cash at bank 23,616 48,347
135,646 252,596
CREDITORS
Amounts falling due within one year 6 196,206 211,023
NET CURRENT (LIABILITIES)/ASSETS (60,560 ) 41,573
TOTAL ASSETS LESS CURRENT
LIABILITIES

178,995

295,103

CREDITORS
Amounts falling due after more than one
year

7

(45,648

)

(31,207

)

PROVISIONS FOR LIABILITIES - (46,481 )
NET ASSETS 133,347 217,415

CAPITAL AND RESERVES
Called up share capital 170,010 170,010
Other reserves 177,945 177,945
Retained earnings (214,608 ) (130,540 )
133,347 217,415

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.

Peggy-Betty Designs Ltd (Registered number: SC364212)
Trading as Bluebellgray

Balance Sheet - continued
31 December 2023


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 Board of Directors and authorised for issue on 10 October 2024 and were signed on its behalf by:





Mrs F Douglas - Director


Peggy-Betty Designs Ltd (Registered number: SC364212)
Trading as Bluebellgray

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

1. STATUTORY INFORMATION

Peggy-Betty Designs 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 as modified by the revaluation of certain assets.

The directors have reviewed the company's operating costs for the next twelve months, and the sources of funds available, and are satisfied that the company is a going concern.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Property Improvements - 10% on cost
Computer equipment - 33% on cost
Fixtures and fittings - 33% on cost and 10% on cost
Website - 33% on cost

Artwork is included in the financial statements on a fair value basis. These assets will be subject to regular review and revaluation.

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
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


Peggy-Betty Designs Ltd (Registered number: SC364212)
Trading as Bluebellgray

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

2. ACCOUNTING POLICIES - continued
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.

Cash at bank and in hand
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 14 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 January 2023 15,677 314,943 330,620
Additions - 2,375 2,375
At 31 December 2023 15,677 317,318 332,995
DEPRECIATION
At 1 January 2023 6,786 70,304 77,090
Charge for year 1,568 14,782 16,350
At 31 December 2023 8,354 85,086 93,440
NET BOOK VALUE
At 31 December 2023 7,323 232,232 239,555
At 31 December 2022 8,891 244,639 253,530

Peggy-Betty Designs Ltd (Registered number: SC364212)
Trading as Bluebellgray

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

4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 December 2023 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2018 - 180,200 180,200
Valuation in 2019 - 12,500 12,500
Valuation in 2020 - 13,000 13,000
Valuation in 2021 - 13,985 13,985
Cost 15,677 97,633 113,310
15,677 317,318 332,995

Various artworks were valued on a fair market basis on 31 December 2023 by the creative director and senior designer.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 4,726 6,733
Other debtors 1,340 9,119
6,066 15,852

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts (10,000 ) 10,000
Trade creditors 67,608 87,490
Taxation and social security 32,041 9,071
Other creditors 106,557 104,462
196,206 211,023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 45,648 31,207