Orchid Shoes Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC416321 (Scotland)

Unaudited Financial Statements for the Year Ended 28 February 2019

for

Orchid Shoes Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mrs L N Howie

REGISTERED OFFICE:

145 St Vincent Street

Glasgow

G2 5JF

REGISTERED NUMBER:

SC416321 (Scotland)

ACCOUNTANTS:

McLay McAlister & McGibbon LLP

Chartered Accountants

145 St Vincent Street

Glasgow

G2 5JF

CURRENT ASSETS

Stocks

4,407

7,654

Cash at bank and in hand

20,396

17,173

24,803

24,827

CREDITORS

Amounts falling due within one year

5

(7,758

)

(9,929

)

NET CURRENT ASSETS

17,045

14,898

TOTAL ASSETS LESS CURRENT LIABILITIES

17,045

14,898

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

17,043

14,896

SHAREHOLDERS' FUNDS

17,045

14,898

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director on 1 August 2019 and were signed by:

Mrs L N Howie - Director

1.	STATUTORY INFORMATION

Orchid Shoes Limited 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.

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

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.

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

-

25% on cost

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2018 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 March 2018

and 28 February 2019

500

DEPRECIATION

At 1 March 2018

and 28 February 2019

500

NET BOOK VALUE

At 28 February 2019

-

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.19

28.2.18

£

£

Taxation and social security

5,184

2,855

Other creditors

2,574

7,074

7,758

9,929

6.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

28.2.19

28.2.18

£

£

Within one year

10,900

10,900

Between one and five years

10,900

21,800

21,800

32,700