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REGISTERED NUMBER: SC732880 (Scotland)















Firth Plastering Ltd

Financial Statements For The Year Ended 31 March 2024






Firth Plastering Ltd (Registered number: SC732880)






Contents of the Financial Statements
For The Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Firth Plastering Ltd

Company Information
For The Year Ended 31 March 2024







DIRECTOR: Mr J R Macleod





REGISTERED OFFICE: 2 South Covesea Terrace
Lossiemouth
Moray
IV31 6NA





REGISTERED NUMBER: SC732880 (Scotland)





ACCOUNTANTS: The Long Partnership
4 North Guildry Street
Elgin
Moray
IV30 1JR

Firth Plastering Ltd (Registered number: SC732880)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 24,206 35,421

CURRENT ASSETS
Stocks 300 300
Debtors 5 35,889 28,244
36,189 28,544
CREDITORS
Amounts falling due within one year 6 44,831 42,098
NET CURRENT LIABILITIES (8,642 ) (13,554 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

15,564

21,867

PROVISIONS FOR LIABILITIES 7 - 564
NET ASSETS 15,564 21,303

CAPITAL AND RESERVES
Called up share capital 8 10 10
Retained earnings 9 15,554 21,293
SHAREHOLDERS' FUNDS 15,564 21,303

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

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

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 director and authorised for issue on 27 March 2025 and were signed by:



Mr J R Macleod - Director


Firth Plastering Ltd (Registered number: SC732880)

Notes to the Financial Statements
For The Year Ended 31 March 2024

1. STATUTORY INFORMATION

Firth Plastering 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 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.
Equipment - 25% on reducing balance

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 5 ) .

Firth Plastering Ltd (Registered number: SC732880)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Motor
Equipment vehicles Totals
£    £    £   
COST
At 1 April 2023 3,674 40,509 44,183
Disposals - (3,214 ) (3,214 )
At 31 March 2024 3,674 37,295 40,969
DEPRECIATION
At 1 April 2023 571 8,191 8,762
Charge for year 776 8,080 8,856
Eliminated on disposal - (855 ) (855 )
At 31 March 2024 1,347 15,416 16,763
NET BOOK VALUE
At 31 March 2024 2,327 21,879 24,206
At 31 March 2023 3,103 32,318 35,421

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 6,850 28,244
Other debtors 29,039 -
35,889 28,244

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 9,349 3,003
Taxation and social security 28,799 14,751
Other creditors 6,683 24,344
44,831 42,098

7. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax - 564

Deferred
tax
£   
Balance at 1 April 2023 564
Provided during year (564 )
Balance at 31 March 2024 -

Firth Plastering Ltd (Registered number: SC732880)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
10 Ordinary 1 10 10

9. RESERVES
Retained
earnings
£   

At 1 April 2023 21,293
Profit for the year 21,261
Dividends (27,000 )
At 31 March 2024 15,554

10. RELATED PARTY DISCLOSURES

During the year, total dividends of £27,000 were paid to the director .

At 31 March 2023 the company owed the director £21,224. During the year the company met expenses on behalf of the director totalling £21,200. At 31 March 2024 the company owed the director £24. This loan is interest free and has no fixed terms of repayment.

Stucco & Stucco Highlands and Islands Ltd, a company under common control supplied materials amounting to £335 to Firth Plastering Ltd. As at 31 March 2024 the company owed Stucco & Stucco Highlands and Islands Ltd £Nil.