Company Registration No. SC780726 (Scotland)
STRATH E COMMERCE LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2024
PAGES FOR FILING WITH REGISTRAR
James Hair & Co
59 Bonnygate
CUPAR
Fife
UK
KY15 4BY
STRATH E COMMERCE LTD
BALANCE SHEET
AS AT
31 AUGUST 2024
31 August 2024
- 1 -
2024
Notes
£
£
Fixed assets
Intangible assets
3
15,835
Current assets
Stocks
1,000
Debtors
4
264
Cash at bank and in hand
141
1,405
Creditors: amounts falling due within one year
5
(20,884)
Net current liabilities
(19,479)
Total assets less current liabilities
(3,644)
Capital and reserves
Called up share capital
6
100
Profit and loss reserves
(3,744)
Total equity
(3,644)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial period ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 28 May 2025 and are signed on its behalf by:
Mr C Roger
Director
Company Registration No. SC780726
STRATH E COMMERCE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2024
- 2 -
1
Accounting policies
Company information
Strath E Commerce Ltd is a private company limited by shares incorporated in Scotland. The registered office is 59 Bonnygate, CUPAR, Fife, UK, KY15 4BY.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The financial statements have been prepared on the going concern basis. The appropriateness of this basis is dependent upon the continued support of the directors and shareholders.
1.3
Reporting period
The company was incorporated on 29 August 2023 and commenced trading on 9 October 2023. The accounts have been prepared for the period to 31 August 2024.
1.4
Turnover
Turnover comprises the invoiced value of online gift sales provided by the company, net of Value Added Tax and trade discounts.
1.5
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Web domains, apps and website
not amortised
The directors are of the opinion that the value of the intangible assets held by the company are increasing in value and therefore no amortisation is required.
1.6
Stocks
Stocks and work in progress including short term contracts are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving stocks. Cost comprises direct expenditure and an appropriate proportion of fixed and variable overheads.
STRATH E COMMERCE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 3 -
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.7
Financial instruments
Basic financial instruments are recognised at amortised cost using the effective interest method except for investments in non-convertible preference and non-puttable preference and ordinary shares, which are measured at fair value, with changes recognised in the profit and loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value, with charges recognised in profit and loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2024
Number
Total
2
3
Intangible fixed assets
Web domains, apps and website
£
Cost
At 29 August 2023
Additions - separately acquired
15,835
At 31 August 2024
15,835
Amortisation and impairment
At 29 August 2023 and 31 August 2024
Carrying amount
At 31 August 2024
15,835
4
Debtors
2024
Amounts falling due within one year:
£
Trade debtors
264
STRATH E COMMERCE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 AUGUST 2024
- 4 -
5
Creditors: amounts falling due within one year
2024
£
Trade creditors
152
Directors current accounts
19,532
Accruals and deferred income
1,200
20,884
6
Called up share capital
2024
£
Ordinary share capital
Issued and fully paid
50 Ordinary A Shares of £1 each
50
25 Ordinary B Shares of £1 each
25
25 Ordinary C Shares of £1 each
25
100
During the period, 50 ordinary A shares, 25 ordinary B shares and 25 ordinary C shares, all of £1 each, were issued at par value. The purpose of the allotment was to raise the initial share capital of the company.