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NORSCOT JOINERY (HOLDINGS) LIMITED

Registered Number
SC471217
(Scotland)

Unaudited Financial Statements for the Year ended
30 June 2024

NORSCOT JOINERY (HOLDINGS) LIMITED
Company Information
for the year from 1 July 2023 to 30 June 2024

Director

WANG, Tom Yuda

Registered Address

Bower Workshops
Bower
Wick
KW1 4TL

Registered Number

SC471217 (Scotland)
NORSCOT JOINERY (HOLDINGS) LIMITED
Balance Sheet as at
30 June 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3865,571883,714
Investments450,00050,000
915,571933,714
Current assets
Cash at bank and on hand2525
2525
Creditors amounts falling due within one year5(39)(64)
Net current assets (liabilities)(14)(39)
Total assets less current liabilities915,557933,675
Provisions for liabilities6(100,639)(100,639)
Net assets814,918833,036
Capital and reserves
Called up share capital50,00050,000
Revaluation reserve429,040429,040
Profit and loss account335,878353,996
Shareholders' funds814,918833,036
The financial statements were approved and authorised for issue by the Director on 25 March 2025, and are signed on its behalf by:
WANG, Tom Yuda
Director
Registered Company No. SC471217
NORSCOT JOINERY (HOLDINGS) LIMITED
Notes to the Financial Statements
for the year ended 30 June 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.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover policy
The company charges management fees to its subsidiary company for the provision of centralised services, which are recognised as income on an accruals basis.
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
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following basis: Freehold land and buildings Over 44 years Leasehold land and buildings Over life of lease The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to the profit and loss account.
Investments
Investments in subsidiaries are measured at cost. A subsidiary is an entity controlled by the company. Control is the power to govern the financial and reporting policies of the entity so as to obtain benefits from its activities.
2.Average number of employees

20242023
Average number of employees during the year00
3.Tangible fixed assets

Land & buildings

Total

££
Cost or valuation
At 01 July 23920,000920,000
At 30 June 24920,000920,000
Depreciation and impairment
At 01 July 2336,28636,286
Charge for year18,14318,143
At 30 June 2454,42954,429
Net book value
At 30 June 24865,571865,571
At 30 June 23883,714883,714
4.Fixed asset investments

Investments in groups1

Total

££
Cost or valuation
At 01 July 2350,00050,000
At 30 June 2450,00050,000
Net book value
At 30 June 2450,00050,000
At 30 June 2350,00050,000

Notes

1Investments in group undertakings and participating interests
5.Creditors: amounts due within one year

2024

2023

££
Amounts owed to related parties3939
Other creditors-25
Total3964
6.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)100,639100,639
Total100,639100,639
7.Related party transactions
Amounts owed to related parties of £39 (2023: £39) relates to Norscot Joinery Ltd, this is a subsidiary of the company.