Laura Smith Glass Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC463990 (Scotland)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2021

FOR

LAURA SMITH GLASS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Miss L E Smith

Miss E M Smith

REGISTERED OFFICE:

24A Ainslie Place

Edinburgh

Lothian

EH3 6AJ

BUSINESS ADDRESS:

Maun Holding Studio

21-31 Shacklewell Lane

London

E8 2DA

REGISTERED NUMBER:

SC463990 (Scotland)

ACCOUNTANTS:

Mitchell Edwards

Chartered Certified Accountants

24A Ainslie Place

Edinburgh

EH3 6AJ

BANKERS:

HSBC

76 Hanover Street

Edinburgh

Lothian

EH2 1HQ

FIXED ASSETS

Intangible assets

4

14,786

-

Tangible assets

5

4,934

6,547

19,720

6,547

CURRENT ASSETS

Stocks

26,988

27,838

Debtors

6

1,198

1,190

Cash at bank

82,716

76,004

110,902

105,032

CREDITORS

Amounts falling due within one year

7

251,877

204,405

NET CURRENT LIABILITIES

(140,975

)

(99,373

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(121,255

)

(92,826

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(121,355

)

(92,926

)

SHAREHOLDERS' FUNDS

(121,255

)

(92,826

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2021 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 9 June 2022 and were signed on its behalf by:

Miss L E Smith - Director

1.	STATUTORY INFORMATION

Laura Smith Glass 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.

The presentation currency of the financial statements is the Pound Sterling (£), rounded to the nearest £.

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.

The company meets its day to day working capital requirements through a loan from a director. The director will continue to support the company until sufficient profitability is achieved and on this basis the directors consider it appropriate to prepare accounts on a going concern basis.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Computer software and new brand are being amortised over it's useful economic life of 10 years.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

Additions

16,429

At 30 November 2021

16,429

AMORTISATION

Charge for year

1,643

At 30 November 2021

1,643

NET BOOK VALUE

At 30 November 2021

14,786

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 December 2020

9,929

Additions

1,159

At 30 November 2021

11,088

DEPRECIATION

At 1 December 2020

3,382

Charge for year

2,772

At 30 November 2021

6,154

NET BOOK VALUE

At 30 November 2021

4,934

At 30 November 2020

6,547

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Other debtors

1,198

1,190

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

979

2,407

Other creditors

250,898

201,998

251,877

204,405