Easitan (Scotland) Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC505528 (Scotland)

Unaudited Financial Statements for the Year Ended 30 June 2021

for

Easitan (Scotland) Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

D J Mccabe

REGISTERED OFFICE:

346 Main Street

Camelon

Falkirk

FK1 4EG

REGISTERED NUMBER:

SC505528 (Scotland)

ACCOUNTANTS:

Peter Deans Chartered Accountants

42 Stirling Street

Denny

Stirlingshire

FK6 6DJ

FIXED ASSETS

Tangible assets

4

20,753

25,601

CURRENT ASSETS

Stocks

600

600

Debtors

5

1,831

912

Cash at bank

28,741

27,014

31,172

28,526

CREDITORS

Amounts falling due within one year

6

134,569

164,531

NET CURRENT LIABILITIES

(103,397

)

(136,005

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(82,644

)

(110,404

)

CREDITORS

Amounts falling due after more than one year

7

11,750

-

NET LIABILITIES

(94,394

)

(110,404

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(94,396

)

(110,406

)

SHAREHOLDERS' FUNDS

(94,394

)

(110,404

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 28 March 2022 and were signed by:

D J Mccabe - Director

1.	STATUTORY INFORMATION

Easitan (Scotland) 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

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 financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The validity of this assumption depends upon the trading performance of the company and the support, where necessary, of the company's directors and creditors.

The company has a profit this year of £16,010 (2020:£8,677(loss)) and the company's Balance Sheet shows Net Liabilities at the year-end of £103,397 (2020:£136,005).

On the basis that support from directors and creditors will continue in the short to medium term and that the company will continue to trade profitability and generate positive cash flow in the future, the directors believe the going concern basis to be appropriate.

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 reducing balance

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.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2020 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 July 2020

88,104

Additions

2,069

At 30 June 2021

90,173

DEPRECIATION

At 1 July 2020

62,503

Charge for year

6,917

At 30 June 2021

69,420

NET BOOK VALUE

At 30 June 2021

20,753

At 30 June 2020

25,601

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.21

30.6.20

£

£

Other debtors

1,831

912

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.21

30.6.20

£

£

Bank loans and overdrafts

3,000

-

Trade creditors

1,887

1,598

Taxation and social security

163

378

Other creditors

129,519

162,555

134,569

164,531

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.21

30.6.20

£

£

Bank loans

11,750

-