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Registration number: SC121033

Nessglaze Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

Nessglaze Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Nessglaze Limited

Company Information

Director

Mr William Macritchie

Registered office

Units 1-4 Parkend Industrial Estate
Stornoway
Isle of Lewis
HS2 0AN

Accountants

Tax Solutions Scotland Limited 1 Lennox Road
Lennoxtown
Glasgow
G66 7HN

 

Nessglaze Limited

(Registration number: SC121033)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

315,126

328,009

Investment property

5

232,773

232,773

 

547,899

560,782

Current assets

 

Stocks

6

214,440

245,486

Debtors

7

161,108

260,718

Cash at bank and in hand

 

873,237

832,608

 

1,248,785

1,338,812

Creditors: Amounts falling due within one year

8

(238,509)

(399,152)

Net current assets

 

1,010,276

939,660

Total assets less current liabilities

 

1,558,175

1,500,442

Provisions for liabilities

(25,697)

-

Net assets

 

1,532,478

1,500,442

Capital and reserves

 

Called up share capital

100

100

Retained earnings

1,532,378

1,500,342

Shareholders' funds

 

1,532,478

1,500,442

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 20 March 2025
 

.........................................
Mr William Macritchie
Director

 

Nessglaze Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
Units 1-4 Parkend Industrial Estate
Stornoway
Isle of Lewis
HS2 0AN
Scotland

These financial statements were authorised for issue by the director on 20 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Asset class

Depreciation method and rate

Freehold property

2% on cost

Improvements to property

10% on cost

Plant and machinery

20% on reducing balance

Fixtures and fittings

20% on cost

Motor vehicles

25% on reducing balance

Investment property

Investment property is shown at more recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

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

 

Nessglaze Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Leases

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

Defined contribution pension obligation

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

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 22 (2023 - 20).

 

Nessglaze Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

4

Tangible assets

Freehold property
£

Improvements to property
 £

Plant and machinery
 £

Fixtures and fittings
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 September 2023

220,283

76,112

259,208

11,474

149,745

716,822

Additions

-

-

3,111

1,482

24,789

29,382

At 31 August 2024

220,283

76,112

262,319

12,956

174,534

746,204

Depreciation

At 1 September 2023

40,069

38,055

201,662

11,474

97,553

388,813

Charge for the year

4,405

7,611

11,727

235

18,287

42,265

At 31 August 2024

44,474

45,666

213,389

11,709

115,840

431,078

Carrying amount

At 31 August 2024

175,809

30,446

48,930

1,247

58,694

315,126

At 31 August 2023

180,214

38,057

57,546

-

52,192

328,009

 

Nessglaze Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

5

Investment properties

2024
£

At 1 September

232,773

At 31 August

232,773

6

Stocks

2024
£

2023
£

Work in progress

101,986

121,435

Other inventories

112,454

124,051

214,440

245,486

7

Debtors

Current

2024
£

2023
£

Trade debtors

161,108

260,718

 

161,108

260,718

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

58,911

108,609

Taxation and social security

131,167

193,713

Accruals and deferred income

1,500

1,500

Other creditors

46,931

95,330

238,509

399,152

9

Parent and ultimate parent undertaking

The ultimate controlling party is John M Macritchie.