Company Registration No. SC597050 (Scotland)
GREATPHONES LTD
Unaudited accounts
for the year ended 31 May 2024
GREATPHONES LTD
Unaudited accounts
Contents
GREATPHONES LTD
Company Information
for the year ended 31 May 2024
Director
Mr. Mohamed Saalim MOHAMED IBRAHIM
Company Number
SC597050 (Scotland)
Registered Office
34/2 BRYSON ROAD
EDINBURGH
EH11 1DX
SCOTLAND
Accountants
COUNTAX LTD
Accountants & Business Advisers
Suite 1, 2 Britannia Street
Leicester
LE1 3LE
GREATPHONES LTD
Statement of financial position
as at 31 May 2024
Tangible assets
5,861
7,147
Cash at bank and in hand
2,077
774
Creditors: amounts falling due within one year
(5,528)
(5,057)
Net current assets/(liabilities)
2,081
(326)
Called up share capital
10
10
Profit and loss account
7,932
6,811
Shareholders' funds
7,942
6,821
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 12 February 2025 and were signed on its behalf by
Mr. Mohamed Saalim MOHAMED IBRAHIM
Director
Company Registration No. SC597050
GREATPHONES LTD
Notes to the Accounts
for the year ended 31 May 2024
GREATPHONES LTD is a private company, limited by shares, registered in Scotland, registration number SC597050. The registered office is 34/2 BRYSON ROAD, EDINBURGH, EH11 1DX, SCOTLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
GREATPHONES LTD
Notes to the Accounts
for the year ended 31 May 2024
4
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 June 2023
5,950
6,800
1,410
14,160
At 31 May 2024
5,950
6,800
1,410
14,160
At 1 June 2023
2,272
4,279
462
7,013
Charge for the year
662
454
170
1,286
At 31 May 2024
2,934
4,733
632
8,299
At 31 May 2024
3,016
2,067
778
5,861
At 31 May 2023
3,678
2,521
948
7,147
5
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
123
-
Other creditors
5,405
5,057
6
Average number of employees
During the year the average number of employees was 2 (2023: 2).