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REGISTERED NUMBER: SC433002 (Scotland)




















Pressing Needs (Scotland) Ltd

Unaudited Financial Statements

for the Year Ended 30 September 2024






Pressing Needs (Scotland) Ltd (Registered number: SC433002)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Pressing Needs (Scotland) Ltd

Company Information
for the Year Ended 30 September 2024







DIRECTOR: D Kellock





REGISTERED OFFICE: The Lighthouse
Heugh Road
North Berwick
EH39 5PX





REGISTERED NUMBER: SC433002 (Scotland)





ACCOUNTANTS: Whitelaw Wells
The Lighthouse
Heugh Road
North Berwick
EH39 5PX

Pressing Needs (Scotland) Ltd (Registered number: SC433002)

Balance Sheet
30 September 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 86,867 118,019

CURRENT ASSETS
Debtors 5 37,231 42,386
Cash at bank and in hand 29,523 34,400
66,754 76,786
CREDITORS
Amounts falling due within one year 6 58,759 57,995
NET CURRENT ASSETS 7,995 18,791
TOTAL ASSETS LESS CURRENT LIABILITIES 94,862 136,810

CREDITORS
Amounts falling due after more than one
year

7

(32,904

)

(41,347

)

PROVISIONS FOR LIABILITIES (16,505 ) (22,424 )
NET ASSETS 45,453 73,039

Pressing Needs (Scotland) Ltd (Registered number: SC433002)

Balance Sheet - continued
30 September 2024

2024 2023
Notes £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 45,353 72,939
45,453 73,039

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 28 February 2025 and were signed by:





D Kellock - Director


Pressing Needs (Scotland) Ltd (Registered number: SC433002)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Pressing Needs (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 the fair value of washing and dry-cleaning services provided.

Revenue from washing and dry-cleaning is recognised when the service has been provided and all obligations to the customers under the agreement have been fulfilled.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 20% on cost
Plant and machinery etc - 25% on reducing balance and 20% on cost

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

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.


Pressing Needs (Scotland) Ltd (Registered number: SC433002)

Notes to the Financial Statements - continued
for the Year Ended 30 September 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
Rentals paid under operating leases are charged to profit or loss 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.

Going concern
The financial statements have been prepared on the going concern principle, which assumes that the company will continue to trade for the foreseeable future.The director has no concerns that the company will continue to trade for at least 12 months from the signing of these financial statements.

Provisions
Provisions are recognised where the company has a present obligation as a result of a past event, it is probably the company will be required to settle the obligations, and a reliable estimate can be made of the obligations. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 13 ) .

Pressing Needs (Scotland) Ltd (Registered number: SC433002)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 October 2023 112,937 151,700 264,637
Additions - 6,801 6,801
At 30 September 2024 112,937 158,501 271,438
DEPRECIATION
At 1 October 2023 79,415 67,203 146,618
Charge for year 13,343 24,610 37,953
At 30 September 2024 92,758 91,813 184,571
NET BOOK VALUE
At 30 September 2024 20,179 66,688 86,867
At 30 September 2023 33,522 84,497 118,019

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 37,231 42,386

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,851 5,851
Hire purchase contracts (see note 8) 3,425 3,425
Trade creditors 4,764 9,878
Taxation and social security 33,649 32,034
Other creditors 11,070 6,807
58,759 57,995

Pressing Needs (Scotland) Ltd (Registered number: SC433002)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 24,912 29,930
Hire purchase contracts (see note 8) 7,992 11,417
32,904 41,347

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 3,425 3,425
Between one and five years 7,992 11,417
11,417 14,842

Non-cancellable operating leases
2024 2023
£    £   
Within one year 55,754 57,076
Between one and five years 205,607 216,052
In more than five years 86,843 132,152
348,204 405,280