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

REGISTERED NUMBER: SC463990 (Scotland)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2020

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

Tangible assets

4

6,547

2,158

CURRENT ASSETS

Stocks

27,838

31,359

Debtors

5

1,190

11,422

Cash at bank

76,004

11,024

105,032

53,805

CREDITORS

Amounts falling due within one year

6

204,405

138,718

NET CURRENT LIABILITIES

(99,373

)

(84,913

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(92,826

)

(82,755

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(92,926

)

(82,855

)

SHAREHOLDERS' FUNDS

(92,826

)

(82,755

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2020 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 26 August 2021 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.

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

Government grants

Government grants are credited to the profit and loss account when the related expenditure is charged to the profit and loss account or the underlying conditions relating to the grant have been satisfied.

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 (2019 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 December 2019

3,058

Additions

6,871

At 30 November 2020

9,929

DEPRECIATION

At 1 December 2019

900

Charge for year

2,482

At 30 November 2020

3,382

NET BOOK VALUE

At 30 November 2020

6,547

At 30 November 2019

2,158

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

-

6,500

Other debtors

1,190

4,922

1,190

11,422

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

2,407

3,587

Other creditors

201,998

135,131

204,405

138,718