Buyrite (Glasgow) Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: SC439048 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Buyrite (Glasgow) Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Z P Mohammed

REGISTERED OFFICE:

Unit 3, Morris Park

Glasgow

G5 0YE

REGISTERED NUMBER:

SC439048 (Scotland)

ACCOUNTANTS:

KPP Glasgow South Ltd

Chartered Certified Accountants

Unit 3 , 37 Rosyth Road

Morris Park

Glasgow

G5 0YE

FIXED ASSETS

Intangible assets

4

140,217

Tangible assets

5

228,110

207,678

368,327

347,895

CURRENT ASSETS

Stocks

6

32,913

41,133

Debtors

7

131,760

122,580

Cash at bank

331,530

680,824

496,203

844,537

CREDITORS

Amounts falling due within one year

8

108,046

373,719

NET CURRENT ASSETS

388,157

470,818

TOTAL ASSETS LESS CURRENT
LIABILITIES

756,484

818,713

CREDITORS

Amounts falling due after more than one
year

9

(37,564

)

-

PROVISIONS FOR LIABILITIES

(19,721

)

(10,806

)

NET ASSETS

699,199

807,907

CAPITAL AND RESERVES

Called up share capital

10

100

Retained earnings

699,099

807,807

SHAREHOLDERS' FUNDS

699,199

807,907

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 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.

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 19 May 2025 and were signed by:

Z P Mohammed - Director

1.	STATUTORY INFORMATION

Buyrite (Glasgow) 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.

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 0, is being amortised evenly over its estimated useful life of nil 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.

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

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.

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.

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 7 (2023 - 24 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

140,217

NET BOOK VALUE

At 31 December 2024

140,217

At 31 December 2023

140,217

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

Motor

Computer

property

fittings

vehicles

equipment

Totals

£

COST

At 1 January 2024

150,020

76,263

57,977

329

284,589

Additions

-

48,035

1,200

49,235

Disposals

-

(28,507

)

-

(28,507

)

At 31 December 2024

150,020

76,263

77,505

1,529

305,317

DEPRECIATION

At 1 January 2024

-

37,879

38,779

253

76,911

Charge for year

-

5,758

16,269

11

22,038

Eliminated on disposal

-

(21,742

)

-

(21,742

)

At 31 December 2024

-

43,637

33,306

264

77,207

NET BOOK VALUE

At 31 December 2024

150,020

32,626

44,199

1,265

228,110

At 31 December 2023

150,020

38,384

19,198

76

207,678

6.

STOCKS

31.12.24

31.12.23

£

Stocks

32,913

41,133

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Other debtors

122,500

VAT

8,776

-

Prepayments and accrued income

484

80

131,760

122,580

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Tax

43,794

38,861

Social security and other taxes

2,063

2,544

VAT

-

7,270

Directors' current accounts

-

238,116

Creditors & Accrued Charges

62,189

86,928

108,046

373,719

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.12.24

31.12.23

£

Hire purchase contracts

37,564

-

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

100

Ordinary Share Capital

£1

100