Company registration number SC278997 (Scotland)
1 STOP PROPERTIES (GLASGOW) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
1 STOP PROPERTIES (GLASGOW) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
1 STOP PROPERTIES (GLASGOW) LIMITED
BALANCE SHEET
AS AT 31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,855
2,474
Current assets
Debtors
4
12,090
7,271
Cash at bank and in hand
284,645
243,968
296,735
251,239
Creditors: amounts falling due within one year
5
(46,333)
(62,047)
Net current assets
250,402
189,192
Net assets
252,257
191,666
Capital and reserves
Called up share capital
5,000
5,000
Capital redemption reserve
(319,000)
(319,000)
Profit and loss reserves
566,257
505,666
Total equity
252,257
191,666
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 21 December 2023
Ms W Gallagher
Director
Company Registration No. SC278997
1 STOP PROPERTIES (GLASGOW) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 2 -
1
Accounting policies
Company information
1 STOP PROPERTIES (GLASGOW) LIMITED is a private company limited by shares incorporated in Scotland. The registered office is 2 Woodside Place, Glasgow, G3 7QF.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
1.5
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1 STOP PROPERTIES (GLASGOW) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
8
7
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2022 and 31 March 2023
50,540
Depreciation and impairment
At 1 April 2022
48,066
Depreciation charged in the year
619
At 31 March 2023
48,685
Carrying amount
At 31 March 2023
1,855
At 31 March 2022
2,474
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
5,422
1,462
Other debtors
6,668
5,809
12,090
7,271
5
Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
26,556
41,318
Other taxation and social security
16,367
17,152
Other creditors
3,410
3,577
46,333
62,047