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REGISTERED NUMBER: SC248881 (Scotland)















Unaudited Financial Statements

for the Year Ended 31 May 2024

for

CURTAINWISE (SCOTLAND) LTD.

CURTAINWISE (SCOTLAND) LTD. (REGISTERED NUMBER: SC248881)






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




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


CURTAINWISE (SCOTLAND) LTD.

Company Information
for the Year Ended 31 May 2024







DIRECTOR: W McKenzie Jnr





SECRETARY: Profit Counts Limited





REGISTERED OFFICE: 13 Glasgow Road
Paisley
Renfrewshire
PA1 3QS





REGISTERED NUMBER: SC248881 (Scotland)





ACCOUNTANTS: Profit Counts Limited
13 Glasgow Road
Paisley
Renfrewshire
PA1 3QS

CURTAINWISE (SCOTLAND) LTD. (REGISTERED NUMBER: SC248881)

Abridged Balance Sheet
31 May 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 - 1
Tangible assets 5 151,994 196,135
151,994 196,136

CURRENT ASSETS
Stocks 61,139 155,985
Debtors 400,710 737,643
Cash at bank 665,828 376,206
1,127,677 1,269,834
CREDITORS
Amounts falling due within one year (203,615 ) (348,231 )
NET CURRENT ASSETS 924,062 921,603
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,076,056

1,117,739

PROVISIONS FOR LIABILITIES (28,878 ) (36,194 )
NET ASSETS 1,047,178 1,081,545

CAPITAL AND RESERVES
Called up share capital 6 4,200 4,200
Capital redemption reserve 5,800 5,800
Retained earnings 1,037,178 1,071,545
SHAREHOLDERS' FUNDS 1,047,178 1,081,545

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

CURTAINWISE (SCOTLAND) LTD. (REGISTERED NUMBER: SC248881)

Abridged Balance Sheet - continued
31 May 2024


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 May 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 February 2025 and were signed by:





W McKenzie Jnr - Director


CURTAINWISE (SCOTLAND) LTD. (REGISTERED NUMBER: SC248881)

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

1. STATUTORY INFORMATION

Curtainwise (Scotland) 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 represents net invoiced sales of goods and services, excluding value added tax.

Turnover is stated net of VAT and trade discounts. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where the contract has only been partially completed at the balance sheet date turnover represents the value of the service provided to date based on a proportion of the total contract value. Where payments are received from customers in advance of services provided, the amounts are recorded as Deferred Income and included as part of Creditors due within one year.

Profit is recognised on long-term contracts, if the final outcome can be assessed with reasonable certainty, by including in the profit and loss account turnover and related costs as contract activity progresses. Turnover is calculated by reference to the value of work performed to date as a proportion of the total contract value.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - Over the lease period
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


CURTAINWISE (SCOTLAND) LTD. (REGISTERED NUMBER: SC248881)

Notes to the Financial Statements - continued
for the Year Ended 31 May 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account 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.

Government grants
Government grants received in respect of fixed assets are capitalised in the balance sheet as a liability and amortised as income to the profit and loss over the estimated life of the assets.

Government grants received in respect of revenue items are shown as income, in the Other income section of the accounts. Receipts from the Coronavirus Job Retention Scheme are show separately within the same section.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 41 (2023 - 42 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 June 2023
and 31 May 2024 120,220
AMORTISATION
At 1 June 2023 120,219
Amortisation for year 1
At 31 May 2024 120,220
NET BOOK VALUE

At 31 May 2024 -
At 31 May 2023 1

CURTAINWISE (SCOTLAND) LTD. (REGISTERED NUMBER: SC248881)

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

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 June 2023 719,503
Additions 15,723
Disposals (251 )
At 31 May 2024 734,975
DEPRECIATION
At 1 June 2023 523,368
Charge for year 59,613
Transfer to ownership 72,733
Reclassification/transfer (72,733 )
At 31 May 2024 582,981
NET BOOK VALUE
At 31 May 2024 151,994
At 31 May 2023 196,135


6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
420,000 Ordinary 1p 4,200 4,200

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Included in current creditors at the balance sheet date, the company owes the director £1,525 (2023 : £1,040). There are no fixed terms for repayment and there is no interest payable on this amount.