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REGISTERED NUMBER: SC215429 (Scotland)















Unaudited Financial Statements for the Year Ended 28 February 2024

for

Fourply Ltd

Fourply Ltd (Registered number: SC215429)






Contents of the Financial Statements
for the Year Ended 28 February 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


Fourply Ltd (Registered number: SC215429)

Balance Sheet
28 February 2024

28.2.24 28.2.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 379,744 444,927
Investments 5 1 1
379,745 444,928

CURRENT ASSETS
Stocks 72,652 140,985
Debtors 6 1,019,199 1,307,715
Cash at bank and in hand 302,213 71,061
1,394,064 1,519,761
CREDITORS
Amounts falling due within one year 7 (960,628 ) (1,058,376 )
NET CURRENT ASSETS 433,436 461,385
TOTAL ASSETS LESS CURRENT
LIABILITIES

813,181

906,313

CREDITORS
Amounts falling due after more than one
year

8

(106,768

)

(266,447

)

PROVISIONS FOR LIABILITIES (87,694 ) (77,644 )
NET ASSETS 618,719 562,222

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 618,717 562,220
618,719 562,222

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2024 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.

Fourply Ltd (Registered number: SC215429)

Balance Sheet - continued
28 February 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 November 2024 and were signed on its behalf by:





Mr A G Morris - Director


Fourply Ltd (Registered number: SC215429)

Notes to the Financial Statements
for the Year Ended 28 February 2024

1. STATUTORY INFORMATION

Fourply Ltd is a private company, limited by shares, domiciled in Scotland, registration number SC215429. The registered office is 21 - 33 Tobago Street, Glasgow, G40 2RH.

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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents net invoiced sales of services in respect of building refurbishment and maintenance, excluding value added tax. Sales are recognised at the point at which the service is complete.

Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on reducing balance, 25% on cost and 15% on reducing balance

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is represented by purchase price.

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.


Fourply Ltd (Registered number: SC215429)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2024

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Provisions
Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 47 (2023 - 50 ) .

Fourply Ltd (Registered number: SC215429)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2023 1,217,986
Additions 56,603
Disposals (44,234 )
At 28 February 2024 1,230,355
DEPRECIATION
At 1 March 2023 773,059
Charge for year 121,786
Eliminated on disposal (44,234 )
At 28 February 2024 850,611
NET BOOK VALUE
At 28 February 2024 379,744
At 28 February 2023 444,927

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 March 2023
and 28 February 2024 443,820
DEPRECIATION
At 1 March 2023 129,282
Charge for year 78,416
At 28 February 2024 207,698
NET BOOK VALUE
At 28 February 2024 236,122
At 28 February 2023 314,538

Fourply Ltd (Registered number: SC215429)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2024

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 March 2023
and 28 February 2024 1
NET BOOK VALUE
At 28 February 2024 1
At 28 February 2023 1

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.24 28.2.23
£    £   
Trade debtors 855,955 1,239,708
Other debtors 163,244 68,007
1,019,199 1,307,715

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.24 28.2.23
£    £   
Bank loans and overdrafts 50,000 50,000
Hire purchase contracts 129,734 124,858
Trade creditors 298,425 400,937
Taxation and social security 322,539 289,846
Other creditors 159,930 192,735
960,628 1,058,376

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.24 28.2.23
£    £   
Bank loans 66,667 116,667
Hire purchase contracts 40,101 149,780
106,768 266,447

9. SECURED DEBTS

The following secured debts are included within creditors:

28.2.24 28.2.23
£    £   
Hire purchase contracts 169,835 274,638

Amounts due in relation to hire purchase agreements are secured against the assets to which they relate.

Fourply Ltd (Registered number: SC215429)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2024

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 28 February 2024 and 28 February 2023:

28.2.24 28.2.23
£    £   
Mr A G Morris and Mrs L J Morris
Balance outstanding at start of year 47,896 73,123
Amounts advanced 92,400 -
Amounts repaid - (25,227 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 140,296 47,896