Registered number
SC395147
N.S.S. (LENZIE) LTD
Filleted Accounts
31 March 2024
N.S.S. (LENZIE) LTD
Registered number: SC395147
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 75,000 75,000
Tangible assets 4 6,589 7,188
81,589 82,188
Current assets
Stocks 30,816 29,659
Debtors 5 1,663 -
Cash at bank and in hand 29,648 22,795
62,127 52,454
Creditors: amounts falling due within one year 6 (12,891) (9,815)
Net current assets 49,236 42,639
Total assets less current liabilities 130,825 124,827
Creditors: amounts falling due after more than one year 7 (1,186) (2,515)
Net assets 129,639 122,312
Capital and reserves
Called up share capital 100 100
Profit and loss account 129,539 122,212
Shareholder's funds 129,639 122,312
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 member has 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.
Mr Sat Pal Loi
Director
Approved by the board on 25 November 2024
N.S.S. (LENZIE) LTD
Notes to the Accounts
for the year ended 31 March 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).
Turnover
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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 10% Reducing balance method
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.
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.
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 liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 8
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 75,000
At 31 March 2024 75,000
Goodwill is not being written off.
4 Tangible fixed assets
Fixture & fittngs
£
Cost
At 1 April 2023 17,217
Additions 133
At 31 March 2024 17,350
Depreciation
At 1 April 2023 10,029
Charge for the year 732
At 31 March 2024 10,761
Net book value
At 31 March 2024 6,589
At 31 March 2023 7,188
5 Debtors 2024 2023
£ £
Trade debtors 1,663 -
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors - 287
Taxation and social security costs 2,674 3,129
Other creditors 10,217 6,399
12,891 9,815
7 Creditors: amounts falling due after one year 2024 2023
£ £
Director's loan account 1,186 2,515
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