No. 75 Ltd

	Page
Balance Sheet	1
Notes to the Financial Statements	2—3

Registered number: SC485735

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		856		1,157

			856		1,157
CURRENT ASSETS
Stocks	5	2,016		3,698
Cash at bank and in hand		17,424		24,515

		19,440		28,213
Creditors: Amounts Falling Due Within One Year	6	(10,146 )		(14,606 )

NET CURRENT ASSETS (LIABILITIES)			9,294		13,607

TOTAL ASSETS LESS CURRENT LIABILITIES			10,150		14,764

PROVISIONS FOR LIABILITIES
Deferred Taxation			-		(218 )

NET ASSETS			10,150		14,546

CAPITAL AND RESERVES
Called up share capital	7		1		1
Profit and Loss Account			10,149		14,545

SHAREHOLDERS' FUNDS			10,150		14,546

For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mrs Kathryn Savage

Director

11th June 2025

The notes on pages 2 to 3 form part of these financial statements.

1. General Information

No. 75 Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC485735 . The registered office is 75 Main Road, Fairlie, Largs, KA29 0AD.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Fixtures & Fittings

20% Reducing Balance Method

2.4. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.5. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 3 (2023: 2)

4. Tangible Assets

	Fixtures & Fittings
	£
Cost
As at 1 October 2023	7,365

As at 30 September 2024	7,365

...CONTINUED

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No. 75 Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2024

Depreciation
As at 1 October 2023	6,208
Provided during the period	301

As at 30 September 2024	6,509

Net Book Value
As at 30 September 2024	856

As at 1 October 2023	1,157

5. Stocks

	2024	2023
	£	£
Materials	2,016	3,698

6. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	1,035	3,337
Other creditors	1,598	3,444
Taxation and social security	7,513	7,825

	10,146	14,606

7. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	1	1

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