Registered number
SC587671
Glenrothes Custom Coatings Ltd
Filleted Accounts
28 February 2024
Glenrothes Custom Coatings Ltd
Registered number: SC587671
Balance Sheet
as at 28 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 31,593 -
Current assets
Stocks 506 506
Debtors 4 - 10,600
Cash at bank and in hand 1,758 3,019
2,264 14,125
Creditors: amounts falling due within one year 5 (4,400) (4,598)
Net current (liabilities)/assets (2,136) 9,527
Total assets less current liabilities 29,457 9,527
Creditors: amounts falling due after more than one year 6 (46,251) (16,925)
Net liabilities (16,794) (7,398)
Capital and reserves
Called up share capital 10 10
Profit and loss account (16,804) (7,408)
Shareholders' funds (16,794) (7,398)
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 members have 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.
G Kinnear
Director
Approved by the board on 15 November 2024
Glenrothes Custom Coatings Ltd
Notes to the Accounts
for the year ended 28 February 2024
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).
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax asset is recognised in respect of a tax loss that will be carried forwards to be set against profits in a future period.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Plant and machinery etc
£
Cost
Additions 45,612
At 28 February 2024 45,612
Depreciation
Charge for the year 14,019
At 28 February 2024 14,019
Net book value
At 28 February 2024 31,593
4 Debtors 2024 2023
£ £
Other debtors - 10,600
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 1,969 2,372
Other creditors 2,431 2,226
4,400 4,598
6 Creditors: amounts falling due after one year 2024 2023
£ £
Director's account 25,168 2
Other creditors 21,083 16,923
46,251 16,925
7 Other information
Glenrothes Custom Coatings Ltd is a private company limited by shares and incorporated in Scotland. Its registered office is:
No. 1 Victoria Road
Kirkcaldy
Fife
KY1 1DT
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