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REGISTERED NUMBER: SC235040 (Scotland)













Unaudited Financial Statements

for the Year Ended 31 August 2024

for

Ribbons And Figurines Ltd

Ribbons And Figurines Ltd (Registered number: SC235040)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Ribbons And Figurines Ltd

Company Information
for the Year Ended 31 August 2024







DIRECTORS: C Flint
S E Flint
R Flint



SECRETARY: S E Flint



REGISTERED OFFICE: 36 Barnton Avenue
Edinburgh
EH4 6JL



REGISTERED NUMBER: SC235040 (Scotland)



ACCOUNTANTS: A H & Co Ltd
Chartered Accountants
6 Logie Mill
Edinburgh
Lothian
EH7 4HG



BANKERS: Coutts & Co
440 Strand
London
WC2R 0QS

Ribbons And Figurines Ltd (Registered number: SC235040)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 4,370 5,825

CURRENT ASSETS
Debtors 5 33,387 27,679
Cash at bank 5,159 9,914
38,546 37,593
CREDITORS
Amounts falling due within one year 6 23,964 22,096
NET CURRENT ASSETS 14,582 15,497
TOTAL ASSETS LESS CURRENT
LIABILITIES

18,952

21,322

CREDITORS
Amounts falling due after more than one year 7 (15,260 ) (17,857 )

PROVISIONS FOR LIABILITIES 9 (830 ) (1,107 )
NET ASSETS 2,862 2,358

CAPITAL AND RESERVES
Called up share capital 10 3 3
Retained earnings 2,859 2,355
SHAREHOLDERS' FUNDS 2,862 2,358

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 May 2025 and were signed on its behalf by:





C Flint - Director


Ribbons And Figurines Ltd (Registered number: SC235040)

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

1. STATUTORY INFORMATION

Ribbons And Figurines 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.

The accounts have been prepared on a going concern basis, the acceptability of which is dependant on the continuing support of the company's parent company and other creditors.

Turnover
Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Tangible fixed assets
Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less residual value, of each asset on a straight line basis over it's expected useful life, as follows:

Fixtures and Fittings- 20% on cost
Computer Equipment- 20% on cost

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. As the exchange rate did not fluctuate significantly during the year, transactions in foreign currency are translated into sterling at the average exchange rate for the year. Exchange differences are taken into account in arriving at the operating result.

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.

Ribbons And Figurines Ltd (Registered number: SC235040)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

2. ACCOUNTING POLICIES - continued

Provisions
Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle the obligation and reliable estimates can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the balance sheet date, taking into account the risks and uncertainties surrounding the obligation.

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.

Exemption from preparing a cash flow statement
Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a small company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 September 2023 7,040 18,078 25,118
Additions 247 - 247
At 31 August 2024 7,287 18,078 25,365
DEPRECIATION
At 1 September 2023 5,417 13,876 19,293
Charge for year 431 1,271 1,702
At 31 August 2024 5,848 15,147 20,995
NET BOOK VALUE
At 31 August 2024 1,439 2,931 4,370
At 31 August 2023 1,623 4,202 5,825

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 8,387 2,679
Other debtors 25,000 25,000
33,387 27,679

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade creditors 9,229 10,221
Taxation and social security 628 2,195
Other creditors 14,107 9,680
23,964 22,096

Ribbons And Figurines Ltd (Registered number: SC235040)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.8.24 31.8.23
£    £   
Other creditors 15,260 17,857

8. SECURED DEBTS

The following secured debts are included within creditors:

31.8.24 31.8.23
£    £   
Loans 14,394 20,454
Other Loan 3,030 -
17,424 20,454

The bank loan is secured by a guarantee from the UK government under the Bounce Back Loan Scheme.

9. PROVISIONS FOR LIABILITIES
31.8.24 31.8.23
£    £   
Deferred tax 830 1,107

Deferred
tax
£   
Balance at 1 September 2023 1,107
Provided during year (277 )
Balance at 31 August 2024 830

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.24 31.8.23
value: £    £   
1 Ordinary £1 1 1
1 A Ordinary £1 1 1
1 B Ordinary £1 1 1
3 3

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

As at 31st August 2024, the company owed two directors a total of £9,069 (2023: £3,851).

12. RELATED PARTY DISCLOSURES





Related Party




Transaction


Transactions in
year ended
31.8.24


Transactions in
year ended
31.8.23
Balance
receivable
from/(payable
to) related party
as at 31.8.24
Balance
receivable
from/(payable
to) related party
as at 31.8.23
£ £ £ £

(1) Doctor Flint Limited Loan - - 25,000 25,000


(1) A director of the company is also a director of Doctor Flint Limited.

Ribbons And Figurines Ltd (Registered number: SC235040)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

13. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.