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REGISTERED NUMBER: SC184604 (Scotland)



















SALTIRE CARPETS & BEDS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 APRIL 2024






SALTIRE CARPETS & BEDS LIMITED (REGISTERED NUMBER: SC184604)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SALTIRE CARPETS & BEDS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: Mrs Bridget Walker
Mr David Walker





SECRETARY: Mrs Bridget Walker





REGISTERED OFFICE: Block 1, Unit 4
Fullwood Industrial Estate
Burnbank Road
Hamilton
Lanarkshire
ML3 9AZ





REGISTERED NUMBER: SC184604 (Scotland)





ACCOUNTANTS: CW
Chartered Accountants
9 Royal Crescent
Glasgow
G3 7SP

SALTIRE CARPETS & BEDS LIMITED (REGISTERED NUMBER: SC184604)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 82,582 83,630

CURRENT ASSETS
Stocks 272,338 282,351
Debtors 5 52,918 26,901
Cash at bank and in hand 226,842 240,491
552,098 549,743
CREDITORS
Amounts falling due within one year 6 156,024 137,398
NET CURRENT ASSETS 396,074 412,345
TOTAL ASSETS LESS CURRENT
LIABILITIES

478,656

495,975

CREDITORS
Amounts falling due after more than one
year

7

(37,903

)

(49,068

)

PROVISIONS FOR LIABILITIES (4,723 ) (4,196 )
NET ASSETS 436,030 442,711

SALTIRE CARPETS & BEDS LIMITED (REGISTERED NUMBER: SC184604)

BALANCE SHEET - continued
30 APRIL 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 36,000 36,000
Retained earnings 400,030 406,711
SHAREHOLDERS' FUNDS 436,030 442,711

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

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 16 January 2025 and were signed on its behalf by:





Mrs Bridget Walker - Director


SALTIRE CARPETS & BEDS LIMITED (REGISTERED NUMBER: SC184604)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024


1. STATUTORY INFORMATION

Saltire Carpets & Beds 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 and revenue recognition
The turnover represents net invoiced sales of goods, excluding value added tax. A sale is recognised at the point where goods are delivered to or uplifted by the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures & Fittings - 15% on reducing balance
Equipment - at varying rates on cost
Motor vehicles - 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.

Financial instruments
Basic financial instruments such as cash, debtors and creditors are measured at transaction price. Financial liabilities classified as payable within one year are not amortised.

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.


SALTIRE CARPETS & BEDS LIMITED (REGISTERED NUMBER: SC184604)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


2. ACCOUNTING POLICIES - continued
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 applicable to operating leases, where substantially all of the benefits and the risks of the ownership remain with the lessor, are charged against profits on a straight line basis over the period of the lease.

Assets held under hire purchase agreements are capitalised in the balance sheet and depreciated over their useful economic lives. Minimum lease payments are apportioned between the interest charge and the reduction of the outstanding liability using the effective interest method. The related obligations are included in creditors.

Pension costs and employee benefits
When employees have rendered service to the company , short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The company contributes to the individual personal pensions of its employees. Contributions payable are charged to the accounts in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 11 ) .

SALTIRE CARPETS & BEDS LIMITED (REGISTERED NUMBER: SC184604)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


4. TANGIBLE FIXED ASSETS
Fixtures Motor
& Fittings Equipment vehicles Totals
£    £    £    £   
COST
At 1 May 2023 17,477 31,908 132,118 181,503
Additions - 754 24,015 24,769
Disposals - - (16,445 ) (16,445 )
At 30 April 2024 17,477 32,662 139,688 189,827
DEPRECIATION
At 1 May 2023 11,161 25,396 61,316 97,873
Charge for year 948 3,898 20,477 25,323
Eliminated on disposal - - (15,951 ) (15,951 )
At 30 April 2024 12,109 29,294 65,842 107,245
NET BOOK VALUE
At 30 April 2024 5,368 3,368 73,846 82,582
At 30 April 2023 6,316 6,512 70,802 83,630

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 40,194 15,489
Directors' current accounts - 225
Tax recoverable - 1,553
Prepayments 12,724 9,634
52,918 26,901

The loan to director is interest free and repayable on demand.

SALTIRE CARPETS & BEDS LIMITED (REGISTERED NUMBER: SC184604)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 8) 11,165 10,841
Trade creditors 77,888 75,829
Corporation Tax 3,638 -
Social security and other taxes 1,692 2,240
VAT 26,620 18,232
Other creditors 28,023 20,388
Accrued expenses 6,998 9,868
156,024 137,398

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts (see note 8) 37,903 49,068

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 11,165 10,841
Between one and five years 37,903 49,068
49,068 59,909

Non-cancellable operating leases
2024 2023
£    £   
Within one year 88,000 88,798
Between one and five years 222,000 310,000
In more than five years 1,263,452 1,333,452
1,573,452 1,732,250

SALTIRE CARPETS & BEDS LIMITED (REGISTERED NUMBER: SC184604)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2024 and 30 April 2023:

2024 2023
£    £   
Mr David Walker
Balance outstanding at start of year 225 4,775
Amounts advanced - 225
Amounts repaid (225 ) (4,775 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 225

10. RELATED PARTY DISCLOSURES

The amount due from a director amounted to nil (2023: £225) at the year end.