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REGISTERED NUMBER: SC324916 (Scotland)
























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

CIB STORNOWAY LIMITED
TRADING AS
CIB SERVICES

CIB STORNOWAY LIMITED (REGISTERED NUMBER: SC324916)
TRADING AS CIB SERVICES

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CIB STORNOWAY LIMITED
TRADING AS CIB SERVICES

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTOR: A G MacAskill





REGISTERED OFFICE: 63 Kenneth Street
Stornoway
Isle of Lewis
HS1 2DS





REGISTERED NUMBER: SC324916 (Scotland)





ACCOUNTANTS: CIB Services
Chartered Accountants
63 Kenneth Street
Stornoway
Isle of Lewis
Western Isles
HS1 2DS

CIB STORNOWAY LIMITED (REGISTERED NUMBER: SC324916)
TRADING AS CIB SERVICES

BALANCE SHEET
30 JUNE 2024

30.6.23 30.6.24
£    £    Notes £    £   
FIXED ASSETS
- Intangible assets 4 71,550
6,573 Tangible assets 5 2,132
6,573 73,682

CURRENT ASSETS
32,991 Stocks 63,270
290,350 Debtors 6 192,670
323,341 255,940
CREDITORS
170,562 Amounts falling due within one year 7 225,853
152,779 NET CURRENT ASSETS 30,087
159,352 TOTAL ASSETS LESS CURRENT
LIABILITIES

103,769

CREDITORS
20,833 Amounts falling due after more than one year 8 10,834
138,519 NET ASSETS 92,935

CAPITAL AND RESERVES
100 Called up share capital 100
138,419 Retained earnings 92,835
138,519 SHAREHOLDERS' FUNDS 92,935

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

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

The director acknowledges his 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.

CIB STORNOWAY LIMITED (REGISTERED NUMBER: SC324916)
TRADING AS CIB SERVICES

BALANCE SHEET - continued
30 JUNE 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 26 June 2025 and were signed by:





A G MacAskill - Director


CIB STORNOWAY LIMITED (REGISTERED NUMBER: SC324916)
TRADING AS CIB SERVICES

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


1. STATUTORY INFORMATION

CIB Stornoway Limited 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 25% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

CIB STORNOWAY LIMITED (REGISTERED NUMBER: SC324916)
TRADING AS CIB SERVICES

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2023 - 16 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023 50,000
Additions 79,500
At 30 June 2024 129,500
AMORTISATION
At 1 July 2023 50,000
Charge for year 7,950
At 30 June 2024 57,950
NET BOOK VALUE
At 30 June 2024 71,550
At 30 June 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023 83,025
Additions 1,126
At 30 June 2024 84,151
DEPRECIATION
At 1 July 2023 76,452
Charge for year 5,567
At 30 June 2024 82,019
NET BOOK VALUE
At 30 June 2024 2,132
At 30 June 2023 6,573

CIB STORNOWAY LIMITED (REGISTERED NUMBER: SC324916)
TRADING AS CIB SERVICES

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 183,970 212,311
Amounts owed by group undertakings 75 41
Other debtors 8,625 77,998
192,670 290,350

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 54,635 11,727
Trade creditors 13,000 20,768
Taxation and social security 105,929 112,185
Other creditors 52,289 25,882
225,853 170,562

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans 10,834 20,833