2023-03-012024-05-312024-05-31falseSC313991"ALL WRAPPED UP" EVENTS MANAGEMENT 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"ALL WRAPPED UP" EVENTS MANAGEMENT LTD

Registered Number
SC313991
(Scotland)

Unaudited Financial Statements for the Period ended
31 May 2024

"ALL WRAPPED UP" EVENTS MANAGEMENT LTD
Company Information
for the period from 1 March 2023 to 31 May 2024

Director

Veronica Mary Hyslop

Registered Address

Unit 27, Fife Food & Business Centre
Faraday Road
Glenrothes
KY6 2RU

Registered Number

SC313991 (Scotland)
"ALL WRAPPED UP" EVENTS MANAGEMENT LTD
Balance Sheet as at
31 May 2024

Notes

31 May 2024

28 Feb 2023

£

£

£

£

Fixed assets
Tangible assets398,18372,910
98,18372,910
Current assets
Debtors439,52712,100
Cash at bank and on hand40,76044,285
80,28756,385
Creditors amounts falling due within one year5(83,309)(42,274)
Net current assets (liabilities)(3,022)14,111
Total assets less current liabilities95,16187,021
Creditors amounts falling due after one year6(27,887)(30,473)
Provisions for liabilities(18,655)-
Net assets48,61956,548
Capital and reserves
Called up share capital100100
Profit and loss account48,51956,448
Shareholders' funds48,61956,548
The financial statements were approved and authorised for issue by the Director on 27 February 2025, and are signed on its behalf by:
Veronica Mary Hyslop
Director
Registered Company No. SC313991
"ALL WRAPPED UP" EVENTS MANAGEMENT LTD
Notes to the Financial Statements
for the period ended 31 May 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Going concern
The financial statements have been prepared on the going concern basis. The director finds it appropriate for the financial statements to be prepared on this basis despite the net current liability position of the company. The company is reliant upon the continued support of the director who has confirmed that they will continue to support the company as required.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Fixed assets are stated at cost, being purchase price, less accumulated depreciation.

Reducing balance (%)
Fixtures and fittings10
Vehicles25
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease. Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
Stocks and work in progress
Stock and work in progress are valued at the lower of cost and net realisable value.
2.Average number of employees

20242023
Average number of employees during the year22
3.Tangible fixed assets

Vehicles

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
At 01 March 2320,00090,518800111,318
Additions22,50020,254-42,754
Revaluations-(5,241)-(5,241)
At 31 May 2442,500105,531800148,831
Depreciation and impairment
At 01 March 237,18830,42080038,408
Charge for year5,41610,007-15,423
Revaluation surplus-(3,183)-(3,183)
At 31 May 2412,60437,24480050,648
Net book value
At 31 May 2429,89668,287-98,183
At 28 February 2312,81260,098-72,910
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables35,632-
Other debtors1,7005,959
Prepayments and accrued income2,1956,141
Total39,52712,100
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables5,187-
Bank borrowings and overdrafts2,7692,118
Taxation and social security33,3974,420
Finance lease and HP contracts2,805-
Other creditors32,28214,436
Accrued liabilities and deferred income6,86921,300
Total83,30942,274
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts2,8216,231
Other creditors25,06624,242
Total27,88730,473