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REGISTERED NUMBER: SC646035 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2024

for

The Card Rack (Denny) Ltd

The Card Rack (Denny) Ltd (Registered number: SC646035)






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




Page

Balance Sheet 1

Notes to the Financial Statements 3


The Card Rack (Denny) Ltd (Registered number: SC646035)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £   
FIXED ASSETS
Intangible assets 4 12,500 15,000
Tangible assets 5 728 6,395
13,228 21,395

CURRENT ASSETS
Stocks - 20,000

CREDITORS
Amounts falling due within one year 6 (46,243 ) (48,416 )
NET CURRENT LIABILITIES (46,243 ) (28,416 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(33,015

)

(7,021

)

CREDITORS
Amounts falling due after more than one
year

7

(1,987

)

(6,115

)

PROVISIONS FOR LIABILITIES - (1,215 )
NET LIABILITIES (35,002 ) (14,351 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (35,102 ) (14,451 )
(35,002 ) (14,351 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 Card Rack (Denny) Ltd (Registered number: SC646035)

Balance Sheet - continued
31 December 2024


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 2 May 2025 and were signed by:





Mrs C M Robertson - Director


The Card Rack (Denny) Ltd (Registered number: SC646035)

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

1. STATUTORY INFORMATION

The Card Rack (Denny) Ltd is a private company, limited by shares, domiciled in Scotland, registration number SC646035. The registered office is 42 Stirling Street, Denny, Stirlingshire, FK6 6DJ.

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 net invoiced sales of goods and services in respect of retail sales during the year. Sales are recognised at the point at which the goods are delivered or the service is complete.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is represented by purchase price.

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.

The Card Rack (Denny) Ltd (Registered number: SC646035)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Provisions
Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2024
and 31 December 2024 25,000
AMORTISATION
At 1 January 2024 10,000
Charge for year 2,500
At 31 December 2024 12,500
NET BOOK VALUE
At 31 December 2024 12,500
At 31 December 2023 15,000

The Card Rack (Denny) Ltd (Registered number: SC646035)

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

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2024 20,212
Disposals (17,073 )
At 31 December 2024 3,139
DEPRECIATION
At 1 January 2024 13,817
Charge for year 1,701
Eliminated on disposal (13,107 )
At 31 December 2024 2,411
NET BOOK VALUE
At 31 December 2024 728
At 31 December 2023 6,395

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 January 2024 17,073
Disposals (17,073 )
At 31 December 2024 -
DEPRECIATION
At 1 January 2024 11,671
Charge for year 1,436
Eliminated on disposal (13,107 )
At 31 December 2024 -
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 5,402

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans and overdrafts 5,555 5,154
Hire purchase contracts - 2,615
Taxation and social security - 425
Other creditors 40,688 40,222
46,243 48,416

The Card Rack (Denny) Ltd (Registered number: SC646035)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.24 31.12.23
£    £   
Bank loans 1,987 4,372
Hire purchase contracts - 1,743
1,987 6,115