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REGISTERED NUMBER: SC624736 (Scotland)















Report of the Director and

Unaudited Financial Statements for the Year Ended 31 March 2024

for

Potsy and The Joiner Ltd

Potsy and The Joiner Ltd (Registered number: SC624736)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Report of the Director 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 5


Potsy and The Joiner Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTOR: K Douglas





REGISTERED OFFICE: Bourtree Bush Croft
Stonehaven
Aberdeenshire
AB39 2TT





REGISTERED NUMBER: SC624736 (Scotland)





ACCOUNTANTS: MacDonald Accountancy Services
11 Margaret Street
Stonehaven
Aberdeenshire
AB39 2AY

Potsy and The Joiner Ltd (Registered number: SC624736)

Report of the Director
for the Year Ended 31 March 2024

The director presents his report with the financial statements of the company for the year ended 31 March 2024.

DIRECTOR
K Douglas held office during the whole of the period from 1 April 2023 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





K Douglas - Director


27 December 2024

Potsy and The Joiner Ltd (Registered number: SC624736)

Income Statement
for the Year Ended 31 March 2024

31.3.24 31.3.23
Notes £    £   

TURNOVER 52,766 65,512

Cost of sales 4,665 7,995
GROSS PROFIT 48,101 57,517

Administrative expenses 43,505 48,205
OPERATING PROFIT 4 4,596 9,312


Interest payable and similar expenses 147 -
PROFIT BEFORE TAXATION 4,449 9,312

Tax on profit - 2,149
PROFIT FOR THE FINANCIAL YEAR 4,449 7,163

Potsy and The Joiner Ltd (Registered number: SC624736)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 10,000 2,000

CURRENT ASSETS
Debtors 6 - 1,137
Cash at bank 1,616 486
1,616 1,623
CREDITORS
Amounts falling due within one year 7 6,612 3,619
NET CURRENT LIABILITIES (4,996 ) (1,996 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,004

4

CREDITORS
Amounts falling due after more than one
year

8

6,901

-
NET (LIABILITIES)/ASSETS (1,897 ) 4

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (1,899 ) 2
(1,897 ) 4

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 27 December 2024 and were signed by:



K Douglas - Director


Potsy and The Joiner Ltd (Registered number: SC624736)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Potsy and The Joiner Ltd 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - 2 ).

4. OPERATING PROFIT

The operating profit is stated after charging:

31.3.24 31.3.23
£    £   
Depreciation - owned assets 800 2,000

Potsy and The Joiner Ltd (Registered number: SC624736)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 10,020
Additions 10,000
Disposals (10,020 )
At 31 March 2024 10,000
DEPRECIATION
At 1 April 2023 8,020
Charge for year 800
Eliminated on disposal (8,820 )
At 31 March 2024 -
NET BOOK VALUE
At 31 March 2024 10,000
At 31 March 2023 2,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors - 1,137

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Taxation and social security 1,852 3,119
Other creditors 4,760 500
6,612 3,619

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Other creditors 6,901 -