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REGISTERED NUMBER: SC471192 (Scotland)


















Unaudited Financial Statements

for the Year Ended 29 February 2024

for

Eutopia (Glasgow) Limited

Eutopia (Glasgow) Limited (Registered number: SC471192)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Eutopia (Glasgow) Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: M McCune
Mrs L M McCune





REGISTERED OFFICE: Scottcourt House
West Princes Street
Helensburgh
Argyll & Bute
G84 8BP





REGISTERED NUMBER: SC471192 (Scotland)





ACCOUNTANTS: Macleod Fulton
Scottcourt House
West Princes Street
Helensburgh
Argyll & Bute
G84 8BP

Eutopia (Glasgow) Limited (Registered number: SC471192)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 125,448 111,715
125,448 111,715

CURRENT ASSETS
Stocks 49,867 42,209
Debtors 6 1,905 1,875
Cash at bank and in hand 4,219 18,199
55,991 62,283
CREDITORS
Amounts falling due within one year 7 126,989 119,398
NET CURRENT LIABILITIES (70,998 ) (57,115 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

54,450

54,600

CREDITORS
Amounts falling due after more than one
year

8

20,723

22,500
NET ASSETS 33,727 32,100

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 33,717 32,090
SHAREHOLDERS' FUNDS 33,727 32,100

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 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.

Eutopia (Glasgow) Limited (Registered number: SC471192)

Balance Sheet - continued
29 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 18 November 2024 and were signed on its behalf by:





M McCune - Director


Eutopia (Glasgow) Limited (Registered number: SC471192)

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

1. STATUTORY INFORMATION

Eutopia (Glasgow) Limited 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.

Goodwill
Goodwill, being the amount paid in connection with the aquisition of a business in 2015, was being amortised evenly over its estimated useful life of five years. The directors have decided to write of the entire goodwill balance in the year as they are of the opinion three years is a more realistic lifespan of the goodwill.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 25% on reducing balance

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.

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.

Eutopia (Glasgow) Limited (Registered number: SC471192)

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

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023
and 29 February 2024 61,000
AMORTISATION
At 1 March 2023
and 29 February 2024 61,000
NET BOOK VALUE
At 29 February 2024 -
At 28 February 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 March 2023 100,000 45,025 145,025
Additions - 22,989 22,989
Disposals - (10,304 ) (10,304 )
At 29 February 2024 100,000 57,710 157,710
DEPRECIATION
At 1 March 2023 - 33,310 33,310
Charge for year - 8,483 8,483
Eliminated on disposal - (9,531 ) (9,531 )
At 29 February 2024 - 32,262 32,262
NET BOOK VALUE
At 29 February 2024 100,000 25,448 125,448
At 28 February 2023 100,000 11,715 111,715

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Other debtors 1,905 1,875

Eutopia (Glasgow) Limited (Registered number: SC471192)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 16,338 12,724
Hire purchase contracts 6,579 -
Trade creditors 10,700 12,258
Taxation and social security 48,524 45,617
Other creditors 44,848 48,799
126,989 119,398

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Bank loans 12,500 22,500
Hire purchase contracts 8,223 -
20,723 22,500

9. CONTINGENT LIABILITIES

As at 29 February 2024 the company had no contingent liabilities (2023 - £nil).

10. CAPITAL COMMITMENTS

As at 29 February 2024 the company had no capital commitments (2023 - £nil).

11. RELATED PARTY DISCLOSURES

As at 29 February 2024 included in other creditors, is a balance of £16,926 (2023 - £21,241) due to Mr & Mrs McCune, directors of the company. The balance has no fixed repayment date and no interest is charged thereon.