Stand Ltd. - Accounts to registrar (filleted) - small 18.2
Stand Ltd. - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| STAND LTD. |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2019 |
| STAND LTD. (REGISTERED NUMBER: SC239377) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2019 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Chartered Accountants' Report | 7 |
| STAND LTD. |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 DECEMBER 2019 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Citypoint 2 |
| 25 Tyndrum Street |
| Glasgow |
| G4 0JY |
| BANKERS: |
| Glasgow City Branch |
| 10 Gordon Street |
| Glasgow |
| G1 3PL |
| STAND LTD. (REGISTERED NUMBER: SC239377) |
| BALANCE SHEET |
| 31 DECEMBER 2019 |
| 2019 | 2018 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 7 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Capital redemption reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| STAND LTD. (REGISTERED NUMBER: SC239377) |
| BALANCE SHEET - continued |
| 31 DECEMBER 2019 |
| 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 |
| STAND LTD. (REGISTERED NUMBER: SC239377) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2019 |
| 1. | STATUTORY INFORMATION |
| Stand Limited is a private company, limited by shares, registered in Scotland. The company's registered number is SC239377 and its registered office is Citypoint 2, 25 Tyndrum Street, Glasgow, G4 0JY. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Going Concern |
| In their assessment of going concern the directors have considered the current and developing impact on the business as a result of the COVID-19 virus. This has not had a significant, immediate impact on the company's operations however the directors are aware that if the current situation becomes prolonged then this may change. Having regard to the above, the directors continue to believe it appropriate to adopt the going concern basis of accounting in preparing the financial statements. |
| Accordingly, the financial statements do not include any adjustments on the carrying amounts and classifications of assets and liabilities that may arise if the company was unable to continue as a going concern. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable. |
| Turnover is attributable to design consultancy and is recognised when a service is delivered to the customer. |
| Tangible fixed assets |
| Depreciation of fixed assets is calculated to write off the cost or valuation less any residual value over their estimated useful lives as follows: |
| Plant and machinery | 25% on cost. |
| Financial instruments |
| Debtors |
| Trade debtors, amounts recoverable on contract and other debtors, excluding prepayments, are recognised at the settlement amount due with appropriate allowances for any irrecoverable amounts when there is objective evidence that the asset is impaired. |
| Cash and cash equivalents |
| Cash and cash equivalents in the balance sheet comprise cash on hand and cash at bank with a short term of maturity, being twelve months or less, from the opening of the deposit or similar account. In the balance sheet bank overdrafts are shown within creditors. |
| Creditors |
| Trade creditors and other creditors are recognised where the company has a present obligation resulting from a past event and are recognised at the settlement amount due after allowing for any trade discounts due. |
| Loans |
| Loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| STAND LTD. (REGISTERED NUMBER: SC239377) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2019 |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 January 2019 |
| Additions |
| At 31 December 2019 |
| DEPRECIATION |
| At 1 January 2019 |
| Charge for year |
| At 31 December 2019 |
| NET BOOK VALUE |
| At 31 December 2019 |
| At 31 December 2018 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Trade debtors |
| Amounts recoverable on contract |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Bank loans |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank Loan > 5 years | 21,700 | 27,900 |
| STAND LTD. (REGISTERED NUMBER: SC239377) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2019 |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2019 | 2018 |
| £ | £ |
| Bank overdrafts |
| Bank loans |
| The following security is held by The Royal Bank of Scotland for the bank overdraft and loan: |
| - Personal guarantee from the directors |
| - A bond and floating charge |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2019 | 2018 |
| value: | £ | £ |
| Ordinary | £1 | 50 | 50 |
| 10. | OTHER FINANCIAL COMMITMENTS |
| At 31 December 2019, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £132,900 (2018: £159,480). |
| 11. | RELATED PARTY DISCLOSURES |
| At the reporting date the amount owed to the company by the directors was £122 (2018: £7,399). |
| 12. | SUBSEQUENT EVENTS |
| The company has evaluated events and transactions occurring subsequent to 31 December 2019 for items that should have been recognised or disclosed in these financial statements. The evaluation was conducted through to the date of signing these financial statements, which is the date the financial statements were available to be issued. |
| The company identified the following subsequent event: |
| In December 2019, a novel strain of coronavirus ("COVID-19") surfaced in Wuhan, China, and has spread around the world, with resulting business and social disruption around the world. COVID-19 was declared a Public Health Emergency of International Concern by the World Health Organization on 30 January 2020. |
| The COVID-19 pandemic has not had a significant, immediate impact on the company's operations however the directors are aware that if the current situation becomes prolonged then this may change. |
| CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
| ON THE UNAUDITED FINANCIAL STATEMENTS OF |
| STAND LTD. |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Stand Ltd. for the year ended 31 December 2019 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity 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 ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance. |
| This report is made solely to the Board of Directors of Stand Ltd., as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Stand Ltd. and state those matters that we have agreed to state to the Board of Directors of Stand Ltd., as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that Stand Ltd. has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Stand Ltd.. You consider that Stand 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 financial statements of Stand 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 statutory financial statements. |
| Chartered Accountants |
| Citypoint 2 |
| 25 Tyndrum Street |
| Glasgow |
| G4 0JY |