2023-04-012024-03-312024-03-31falseSC393453ERSATZ (CUMBERNAULD) 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ERSATZ (CUMBERNAULD) LTD.

Registered Number
SC393453
(Scotland)

Unaudited Financial Statements for the Year ended
31 March 2024

ERSATZ (CUMBERNAULD) LTD.
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

OWEN, Lynn Marr
OWEN, Stuart John

Registered Address

4d Auchingramont Road
Hamilton
ML3 6JT

Registered Number

SC393453 (Scotland)
ERSATZ (CUMBERNAULD) LTD.
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets31616
1616
Current assets
Debtors4267-
Cash at bank and on hand2,8211,634
3,0881,634
Creditors amounts falling due within one year5(19,803)(14,368)
Net current assets (liabilities)(16,715)(12,734)
Total assets less current liabilities(16,699)(12,718)
Net assets(16,699)(12,718)
Capital and reserves
Called up share capital1010
Profit and loss account(16,709)(12,728)
Shareholders' funds(16,699)(12,718)
The financial statements were approved and authorised for issue by the Board of Directors on 27 November 2024, and are signed on its behalf by:
OWEN, Stuart John
Director
Registered Company No. SC393453
ERSATZ (CUMBERNAULD) LTD.
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
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).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Revenue from rendering of services
Revenue from the rendering of services is recognised by reference to the stage of completion of the service at the balance sheet date.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Office Equipment15
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other 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.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.
Related parties
For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified.
2.Average number of employees

20242023
Average number of employees during the year43
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 April 2313,36113,361
At 31 March 2413,36113,361
Depreciation and impairment
At 01 April 2313,34513,345
At 31 March 2413,34513,345
Net book value
At 31 March 241616
At 31 March 231616
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables267-
Total267-
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables186-
Amounts owed to related parties11,4547,583
Taxation and social security6,4195,286
Accrued liabilities and deferred income1,7441,499
Total19,80314,368
6.Related party transactions
During the year, the company received an interest free loan from the director amounting to £11,454 ( 2023: £7,583)