The Owl at Number Two Ltd - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: SC692084 (Scotland)

Unaudited Financial Statements

for the Period 12 March 2021 to 31 March 2022

for

The Owl at Number Two Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mrs P A Le Poidevin

REGISTERED OFFICE:

42 Queens Road

Aberdeen

AB15 4YE

REGISTERED NUMBER:

SC692084 (Scotland)

ACCOUNTANTS:

SBP

Accountants

42 Queens Road

Aberdeen

AB15 4YE

FIXED ASSETS

Tangible assets

4

28,019

CURRENT ASSETS

Stocks

16,439

Debtors

5

7,589

Cash at bank and in hand

4,855

28,883

CREDITORS

Amounts falling due within one year

6

63,416

NET CURRENT LIABILITIES

(34,533

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(6,514

)

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

(6,614

)

(6,514

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2022 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 applicable to companies subject to the small companies regime.

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

The financial statements were approved by the director and authorised for issue on 7 December 2022 and were signed by:

Mrs P A Le Poidevin - Director

1.	STATUTORY INFORMATION

The Owl at Number Two 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The company has a deficit of £6,514. If necessary the company will be supported by the director and based on this the director considers it appropriate to prepare the accounts on going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of the director's support.

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.

Improvements to property

-

10% on cost

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

33% 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 period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 period 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 period was 1 .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

Computer

property

fittings

equipment

Totals

£

£

£

£

COST

Additions

25,235

5,385

2,244

32,864

At 31 March 2022

25,235

5,385

2,244

32,864

DEPRECIATION

Charge for period

2,662

1,402

781

4,845

At 31 March 2022

2,662

1,402

781

4,845

NET BOOK VALUE

At 31 March 2022

22,573

3,983

1,463

28,019

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other debtors

7,589

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other creditors

63,416

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 31 March 2022:

£

Mrs P A Le Poidevin

Balance outstanding at start of period

-

Amounts advanced

2,287

Amounts repaid

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of period

2,287

8.	RELATED PARTY DISCLOSURES

The company paid a total of £12,170 for rent during the year to the director's SIPP for the rental of the property at Mid Stocket Road, Aberdeen.

Included in other creditors is a balance due to Porridge Property Ltd of £61,203, a company that Mrs P Le Poidevin is a director of.

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the director.