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REGISTERED NUMBER: SC604544 (Scotland)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

Glasgow Shed Limited

Glasgow Shed Limited (Registered number: SC604544)






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


Glasgow Shed Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: W J Roddie
Ms S Roddie





REGISTERED OFFICE: 120 Carstairs Street
Glasgow
G40 4JD





REGISTERED NUMBER: SC604544 (Scotland)





ACCOUNTANTS: Advantage Accounting (Scotland) Ltd
Pavilion 2
Finnieston Business Park
Minerva Way
Glasgow
G3 8AU

Glasgow Shed Limited (Registered number: SC604544)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 83,437 122,204

CURRENT ASSETS
Stocks 75,440 92,000
Debtors 5 388,780 282,249
Cash at bank and in hand 13,655 44,670
477,875 418,919
CREDITORS
Amounts falling due within one year 6 489,673 475,067
NET CURRENT LIABILITIES (11,798 ) (56,148 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

71,639

66,056

CREDITORS
Amounts falling due after more than one
year

7

(14,563

)

(22,644

)

PROVISIONS FOR LIABILITIES (4,141 ) (9,194 )
NET ASSETS 52,935 34,218

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 52,934 34,217
SHAREHOLDERS' FUNDS 52,935 34,218

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.

Glasgow Shed Limited (Registered number: SC604544)

Balance Sheet - continued
30 April 2024


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 29 January 2025 and were signed on its behalf by:





W J Roddie - Director


Glasgow Shed Limited (Registered number: SC604544)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Glasgow Shed 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
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.
Plant and machinery etc - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2023 - 18 ) .

Glasgow Shed Limited (Registered number: SC604544)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023
and 30 April 2024 230,319
DEPRECIATION
At 1 May 2023 108,115
Charge for year 38,767
At 30 April 2024 146,882
NET BOOK VALUE
At 30 April 2024 83,437
At 30 April 2023 122,204

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 365 365
Amounts owed by associates 388,415 281,884
388,780 282,249

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 8,000 8,000
Trade creditors 14,005 9,261
Amounts owed to associates 447,392 371,892
Taxation and social security 18,079 18,195
Other creditors 2,197 67,719
489,673 475,067

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Bank loans 14,563 22,644

8. RELATED PARTY DISCLOSURES

Amounts due to/from related parties are interest free and unsecured.