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COMPANY REGISTRATION NUMBER: SC105754
Storybook Glen Limited
Filleted Unaudited Financial Statements
29 February 2024
Storybook Glen Limited
Statement of Financial Position
29 February 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
419,322
414,492
Current assets
Stocks
4,650
4,572
Debtors
6
7,145
Cash at bank and in hand
71,017
169,142
--------
---------
75,667
180,859
Creditors: amounts falling due within one year
7
52,613
60,080
--------
---------
Net current assets
23,054
120,779
---------
---------
Total assets less current liabilities
442,376
535,271
Provisions
( 10,257)
7,536
---------
---------
Net assets
452,633
527,735
---------
---------
Capital and reserves
Called up share capital
12,000
12,000
Profit and loss account
440,633
515,735
---------
---------
Shareholders funds
452,633
527,735
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Storybook Glen Limited
Statement of Financial Position (continued)
29 February 2024
These financial statements were approved by the board of directors and authorised for issue on 27 November 2024 , and are signed on behalf of the board by:
Mr B Liddell
Director
Company registration number: SC105754
Storybook Glen Limited
Notes to the Financial Statements
Year ended 29 February 2024
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Storybook Glen, Maryculter, Aberdeen, AB12 5FT.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover represents entrance receipts and sale of goods during the year stated net of value added tax and is recognised at the point of sale.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property
-
2% straight line
Plant and machinery
-
20% reducing balance
Stocks
Stocks are stated at the lower of cost estimated selling price.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 18 (2023: 19 ).
5. Tangible assets
Freehold property
Plant and machinery
Total
£
£
£
Cost
At 1 March 2023
610,655
332,745
943,400
Additions
31,219
31,219
---------
---------
---------
At 29 February 2024
610,655
363,964
974,619
---------
---------
---------
Depreciation
At 1 March 2023
235,827
293,081
528,908
Charge for the year
12,213
14,176
26,389
---------
---------
---------
At 29 February 2024
248,040
307,257
555,297
---------
---------
---------
Carrying amount
At 29 February 2024
362,615
56,707
419,322
---------
---------
---------
At 28 February 2023
374,828
39,664
414,492
---------
---------
---------
6. Debtors
2024
2023
£
£
Other debtors
7,145
----
-------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
10,901
21,780
Social security and other taxes
32,082
29,861
Other creditors
9,630
8,439
--------
--------
52,613
60,080
--------
--------