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REGISTERED NUMBER: SC321669 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2025

for

Naysmith Ltd

Naysmith Ltd (Registered number: SC321669)






Contents of the Financial Statements
for the Year Ended 31 March 2025




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Naysmith Ltd

Company Information
for the Year Ended 31 March 2025







DIRECTORS: Mrs L Naysmith
Ms C Naysmith





SECRETARY: Ms C Naysmith





REGISTERED OFFICE: Unit 5/6 Polbeth Industrial Estate
Polbeth
West Calder
West Lothian
EH55 8TJ





REGISTERED NUMBER: SC321669 (Scotland)





ACCOUNTANTS: One Accounting Ltd
Chartered Management Accountants
Drumsheugh Toll
2 Belford Road
Edinburgh
Midlothian
EH4 3BL

Naysmith Ltd (Registered number: SC321669)

Statement of Financial Position
31 March 2025

31.3.25 31.3.24
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 3,725 3,811
3,725 3,811

CURRENT ASSETS
Stocks 74,152 66,380
Debtors 6 8,527 9,355
Prepayments and accrued income 452 363
Cash at bank and in hand 2,614 5,557
85,745 81,655
CREDITORS
Amounts falling due within one year 7 50,493 47,771
NET CURRENT ASSETS 35,252 33,884
TOTAL ASSETS LESS CURRENT
LIABILITIES

38,977

37,695

CREDITORS
Amounts falling due after more than one year 8 (32,696 ) (50,195 )

PROVISIONS FOR LIABILITIES (931 ) (953 )
NET ASSETS/(LIABILITIES) 5,350 (13,453 )

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 5,050 (13,753 )
SHAREHOLDERS' FUNDS 5,350 (13,453 )

Naysmith Ltd (Registered number: SC321669)

Statement of Financial Position - continued
31 March 2025


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 August 2025 and were signed on its behalf by:





Mrs L Naysmith - Director


Naysmith Ltd (Registered number: SC321669)

Notes to the Financial Statements
for the Year Ended 31 March 2025

1. STATUTORY INFORMATION

Naysmith 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.

Going concern
The Company is operating by utilising funding from the directors as well as external sources of finance from third parties. The directors have indicated that appropriate funding will continue to support the company, accordingly they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

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, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of eight years.

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 - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipments - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties.

The company has elected to apply Section 11 'Basic Financial Instruments' of FRS102 to its financial instruments. Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

- Debtors
Debtors with no stated interest rate or which are receivable within one year are recorded at the transaction price. Any losses arising from impairment are recognised in the income statement.

- Creditors
Creditors with no stated interest rate or which are payable within one year are recorded at the transaction price.

All interest bearing loans and borrowings which are basic financial instruments are initially recognised at the present value of cash payable. After initial recognition they are measured at amortised cost.


Naysmith Ltd (Registered number: SC321669)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

2. ACCOUNTING POLICIES - continued
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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

Charge over company assets
As at 31st March 2025, the company had the following charge registered with Companies House in respect of security granted over its assets. This is a fixed and floating charge created 10 June 2008 in favour Bank of Scotland Plc, covering all present and future assets including book debts, stock and property.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2024
and 31 March 2025 125,000
AMORTISATION
At 1 April 2024
and 31 March 2025 125,000
NET BOOK VALUE
At 31 March 2025 -
At 31 March 2024 -

Naysmith Ltd (Registered number: SC321669)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipments Totals
£    £    £    £   
COST
At 1 April 2024 210 19,786 24,989 44,985
Additions - 947 - 947
At 31 March 2025 210 20,733 24,989 45,932
DEPRECIATION
At 1 April 2024 208 19,356 21,610 41,174
Charge for year 1 187 845 1,033
At 31 March 2025 209 19,543 22,455 42,207
NET BOOK VALUE
At 31 March 2025 1 1,190 2,534 3,725
At 31 March 2024 2 430 3,379 3,811

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25 31.3.24
£    £   
Other debtors 7,898 9,355
VAT 629 -
8,527 9,355

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25 31.3.24
£    £   
Bank loans and overdrafts 10,668 11,802
Trade creditors 15,733 16,701
Credit Card Liability 3,485 314
Tax 4,697 929
Social security and other taxes 1,741 1,262
VAT - 2,825
Other creditors 715 572
Directors' current accounts 13,454 13,366
50,493 47,771

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.25 31.3.24
£    £   
Bank loans - 1-2 years 3,232 10,000
Bank loans - 2-5 years - 4,556
Directors loan 29,464 35,639
32,696 50,195

9. RELATED PARTY DISCLOSURES

During the year, total dividends of £588 were paid to the directors .

Naysmith Ltd (Registered number: SC321669)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

9. RELATED PARTY DISCLOSURES - continued

The following loans have been provided by the directors. They are all interest free and repayable upon demand.

Director 31.03.25 31.03.24
L Naysmith £35,766 £41,941
C Naysmith £7,151 £7,063

Part of the loan from L Naysmith has been deemed not repayable within 12 months therefore is included within amounts falling due after more than one year.