Registered number
SC253948
Netherview Limited
Filleted Accounts
31 October 2023
Netherview Limited
Registered number: SC253948
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 111,415 112,274
Current assets
Debtors 4 97,157 116,756
Cash at bank and in hand 257,964 44,562
355,121 161,318
Creditors: amounts falling due within one year 5 (199,745) (62,867)
Net current assets 155,376 98,451
Total assets less current liabilities 266,791 210,725
Creditors: amounts falling due after more than one year 6 (45,528) (49,756)
Net assets 221,263 160,969
Capital and reserves
Called up share capital 2 2
Profit and loss account 221,261 160,967
Shareholder's funds 221,263 160,969
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M Kerslake
Director
Approved by the board on 3 September 2024
Netherview Limited
Notes to the Accounts
for the year ended 31 October 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% Reducing Balance Method
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 6 12
3 Tangible fixed assets
Land and buildings Plant and machinery Total
£ £ £
Cost
At 1 November 2022 108,840 124,296 233,136
At 31 October 2023 108,840 124,296 233,136
Depreciation
At 1 November 2022 - 120,862 120,862
Charge for the year - 859 859
At 31 October 2023 - 121,721 121,721
Net book value
At 31 October 2023 108,840 2,575 111,415
At 31 October 2022 108,840 3,434 112,274
4 Debtors 2023 2022
£ £
Other debtors 97,157 116,756
5 Creditors: amounts falling due within one year 2023 2022
£ £
Directors loan account 34,184 34,184
Taxation and social security costs 47,256 27,293
Other creditors 118,305 1,390
199,745 62,867
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 45,528 49,756
7 Other information
Netherview Limited is a private company limited by shares and incorporated in Scotland. Its registered office is:
30/5 Hardengreen Industrial Estate
Dalkeith
Scotland
EH22 3NX
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