Aspect Flooring & Blinds Ltd

	Page
Company Information	1
Accountants' Report	2
Balance Sheet	3—4
Statement of Changes in Equity	5
Notes to the Financial Statements	6—9

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Accountants' Report

For The Year Ended 31 December 2024

Accountants' Report

Report to the directors on the preparation of the unaudited statutory accounts of Aspect Flooring & Blinds Ltd for the year ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Aspect Flooring & Blinds Ltd which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.

This report is made to the directors of Aspect Flooring & Blinds Ltd , as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Aspect Flooring & Blinds Ltd and state those matters that we have agreed to state to the directors of Aspect Flooring & Blinds Ltd , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Aspect Flooring & Blinds Ltd and its directors as a body for our work or for this report.

It is your duty to ensure that Aspect Flooring & Blinds Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Aspect Flooring & Blinds Ltd . You consider that Aspect Flooring & Blinds Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Aspect Flooring & Blinds Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.

23 September 2025

Nuvo Scotland Limited

Bankhead Drive

City South Office Park

Portlethen

Aberdeen

AB12 4XX

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Aspect Flooring & Blinds Ltd

Balance Sheet

As At 31 December 2024

Balance Sheet

Registered number: SC616652

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		13,830		18,183

			13,830		18,183
CURRENT ASSETS
Stocks	5	4,832		5,091
Debtors	6	44,577		51,875
Cash at bank and in hand		72,922		72,019

		122,331		128,985
Creditors: Amounts Falling Due Within One Year	7	(74,974 )		(55,080 )

NET CURRENT ASSETS (LIABILITIES)			47,357		73,905

TOTAL ASSETS LESS CURRENT LIABILITIES			61,187		92,088

Creditors: Amounts Falling Due After More Than One Year	8		(32,601 )		(40,430 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(3,458 )		(3,485 )

NET ASSETS			25,128		48,173

CAPITAL AND RESERVES
Called up share capital			100		100
Profit and Loss Account			25,028		48,073

SHAREHOLDERS' FUNDS			25,128		48,173

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Aspect Flooring & Blinds Ltd

Balance Sheet (continued)

As At 31 December 2024

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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

The directors acknowledge their 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

Mr K Michie

Director

23 September 2025

The notes on pages 6 to 9 form part of these financial statements.

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Aspect Flooring & Blinds Ltd

Statement of Changes in Equity

For The Year Ended 31 December 2024

Statement of Changes in Equity

	Share Capital	Profit and Loss Account	Total
	£	£	£
As at 1 January 2023	100	61,331	61,431
Profit for the year and total comprehensive income	-	44,742	44,742

Dividends paid	-	(58,000)	(58,000)

As at 31 December 2023 and 1 January 2024	100	48,073	48,173


Profit for the year and total comprehensive income	-	32,955	32,955

Dividends paid	-	(56,000)	(56,000)

As at 31 December 2024	100	25,028	25,128

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Aspect Flooring & Blinds Ltd

Notes to the Financial Statements

For The Year Ended 31 December 2024

Notes to the Financial Statements

1. General Information

Aspect Flooring & Blinds Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC616652 . The registered office is 70 Ardarroch Road, First Floor B, Aberdeen, AB24 5QS.

The presentation currency of the financial statements is the Pound Sterling (£).

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

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Assets held under finance leases are depreciated in the same way as owned assets.

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:

Plant & Machinery	25% on reducing balance
Motor Vehicles	25% on reducing balance
Computer Equipment	33% on cost

The assets' residual values and useful lives are reviewed and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.

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.

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Aspect Flooring & Blinds Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.5. Financial Instruments

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other debtors and cash and bank balances are measured at transaction price

including transaction costs.

Financial assets are derecognised when the contractual rights to cash flows from the asset expire or are settled or when the company transfers the risks and rewards of ownership to another entity.

Basic financial liabilities

Basic financial liabilities, which include trade and other creditors and bank loans payable within one year are not amortised and is recognised at transaction price.

Debt instruments are initially recognised at transaction price plus transaction cost and subsequently carried at amortised cost using the effective interest rate method.

Financial liabilities are derecognised when the company's contractual obligations are discharged.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.

2.6. 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 years 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.

Deferred tax

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

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

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Aspect Flooring & Blinds Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

4. Tangible Assets

	Plant & Machinery	Motor Vehicles	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 January 2024	2,015	24,781	1,184	27,980
Additions	462	-	-	462
Disposals	(3 )	-	(2 )	(5 )

As at 31 December 2024	2,474	24,781	1,182	28,437

Depreciation
As at 1 January 2024	1,535	7,676	586	9,797
Provided during the period	146	4,277	392	4,815
Disposals	(3 )	-	(2 )	(5 )

As at 31 December 2024	1,678	11,953	976	14,607

Net Book Value
As at 31 December 2024	796	12,828	206	13,830

As at 1 January 2024	480	17,105	598	18,183

5. Stocks

	2024	2023
	£	£
Stock	4,448	3,658
Work in progress	384	1,433

	4,832	5,091

6. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	30,396	28,792
Prepayments and accrued income	1,468	1,193
Other debtors	10,948	14,600
VAT	1,765	7,290

	44,577	51,875

7. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	4,266	2,241
Bank loans and overdrafts	6,028	5,991
HP < year	2,440	2,171
Corporation tax	8,749	7,962
Other taxes and social security	150	137
Accruals and deferred income	2,940	2,800
Directors' loan accounts	50,401	33,778

	74,974	55,080

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Aspect Flooring & Blinds Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

8. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Bank loans	25,371	30,760
HP > year	7,230	9,670

	32,601	40,430

9. Provisions for Liabilities


	Deferred Tax	Total
	£	£
As at 1 January 2024	3,485	3,485
Deferred taxation	(28 )	(28 )

Balance at 31 December 2024	3,457	3,457

10. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 January 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 31 December 2024
	£	£	£	£	£
Mr Kevin Michie	(24,552 )	424	(8,735 )	-	(32,863 )
Mrs Elizabeth Michie	(9,226 )	154	(8,466 )	-	(17,538 )

The above loan is interest free and has no fixed repayment terms.

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Directors	Mr K Michie
	Mrs E Michie

Company Number	SC616652

Registered Office	70 Ardarroch Road
	First Floor B
	Aberdeen
	AB24 5QS

Accountants	Nuvo Scotland Limited
	Bankhead Drive
	City South Office Park
	Portlethen
	Aberdeen
	AB12 4XX