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REGISTERED NUMBER: SC237189 (Scotland)















Report of the Director and

Unaudited Financial Statements for the Year Ended 29 February 2024

for

Celtic Chords Ltd.

Celtic Chords Ltd. (Registered number: SC237189)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Report of the Director 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 5


Celtic Chords Ltd.

Company Information
for the Year Ended 29 February 2024







DIRECTOR: P Murray





REGISTERED OFFICE: Pulldoran
Kirkton
Auchenblae
Kincardineshire
AB30





REGISTERED NUMBER: SC237189 (Scotland)





ACCOUNTANTS: MacDonald Accountancy Services
11 Margaret Street
Stonehaven
Aberdeenshire
AB39 2AY

Celtic Chords Ltd. (Registered number: SC237189)

Report of the Director
for the Year Ended 29 February 2024

The director presents his report with the financial statements of the company for the year ended 29 February 2024.

DIRECTOR
P Murray held office during the whole of the period from 1 March 2023 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





P Murray - Director


12 November 2024

Celtic Chords Ltd. (Registered number: SC237189)

Income Statement
for the Year Ended 29 February 2024

29.2.24 28.2.23
£    £   

TURNOVER 5,338 50,861

Cost of sales 3,035 16,840
GROSS PROFIT 2,303 34,021

Administrative expenses 5,324 (11,764 )
OPERATING (LOSS)/PROFIT and
(LOSS)/PROFIT BEFORE TAXATION (3,021 ) 45,785

Tax on (loss)/profit - 4,455
(LOSS)/PROFIT FOR THE FINANCIAL
YEAR

(3,021

)

41,330

Celtic Chords Ltd. (Registered number: SC237189)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £   
CURRENT ASSETS
Stocks 4 2,500 5,000
Cash at bank 63,222 103,916
65,722 108,916
CREDITORS
Amounts falling due within one year 5 699 9,872
NET CURRENT ASSETS 65,023 99,044
TOTAL ASSETS LESS CURRENT
LIABILITIES

65,023

99,044

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 65,021 99,042
SHAREHOLDERS' FUNDS 65,023 99,044

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 12 November 2024 and were signed by:





P Murray - Director


Celtic Chords Ltd. (Registered number: SC237189)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Celtic Chords 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.

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.

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.

3. EMPLOYEES AND DIRECTORS

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

4. STOCKS
29.2.24 28.2.23
£    £   
Stocks 2,500 5,000

Celtic Chords Ltd. (Registered number: SC237189)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Taxation and social security 299 5,200
Other creditors 400 4,672
699 9,872