REGISTERED NUMBER: SC683067 (Scotland)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

The Grass Yard Supplies Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Miss K A Burke

Mr D P Main

REGISTERED OFFICE:

33-35 McFarlane Street

Paisley

PA3 1SA

REGISTERED NUMBER:

SC683067 (Scotland)

ACCOUNTANTS:

Advantage Accounting (Scotland) Ltd

Pavilion 2

Finnieston Business Park

Minerva Way

Glasgow

G3 8AU

FIXED ASSETS

Tangible assets

3

94,975

102,073

CURRENT ASSETS

Stocks

157,674

150,000

Debtors

4

6,751

6,918

Cash at bank and in hand

3,664

33,220

168,089

190,138

CREDITORS

Amounts falling due within one year

5

236,180

195,737

NET CURRENT LIABILITIES

(68,091

)

(5,599

)

TOTAL ASSETS LESS CURRENT LIABILITIES

26,884

96,474

CREDITORS

Amounts falling due after more than one year

6

(78,634

)

(102,044

)

PROVISIONS FOR LIABILITIES

(20,634

)

(22,139

)

NET LIABILITIES

(72,384

)

(27,709

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(72,484

)

(27,809

)

SHAREHOLDERS' FUNDS

(72,384

)

(27,709

)

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 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 23 December 2025 and were signed on its behalf by:

Miss K A Burke - Director

Mr D P Main - Director

1.	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.

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 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.

Going concern

As at the balance sheet date the company had negative distributable reserves of £27,709. The directors continue to support the company, allowing the company to meet its liabilities as they fall due and as such believe it is appropriate for the financial statements to be prepared on a going concern basis.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 7 ) .

3.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

135,217

Additions

23,340

Disposals

(5,000

)

At 31 December 2024

153,557

DEPRECIATION

At 1 January 2024

33,144

Charge for year

27,743

Eliminated on disposal

(2,305

)

At 31 December 2024

58,582

NET BOOK VALUE

At 31 December 2024

94,975

At 31 December 2023

102,073

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

-

1,915

Other debtors

6,751

5,003

6,751

6,918

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Hire purchase contracts

24,422

21,105

Trade creditors

6,610

711

Taxation and social security

71,188

39,614

Other creditors

133,960

134,307

236,180

195,737

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Hire purchase contracts

31,579

47,433

Amounts owed to associates

39,571

39,371

Other creditors

7,484

15,240

78,634

102,044

7.	RELATED PARTY DISCLOSURES

Amounts due from group undertakings of £39,571.39 are unsecured and interest free.