Stand Ltd. - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC239377 (Scotland)

STAND LTD.

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

Ms M Croft

S Gilmour

SECRETARY:

Ms M Croft

REGISTERED OFFICE:

c/o Hardie Caldwell LLP

Citypoint 2

25 Tyndrum Street

Glasgow

G4 0JY

REGISTERED NUMBER:

SC239377 (Scotland)

ACCOUNTANTS:

Hardie Caldwell LLP

Chartered Accountants

Citypoint 2

25 Tyndrum Street

Glasgow

G4 0JY

BANKERS:

The Royal Bank of Scotland plc

Glasgow City Branch

10 Gordon Street

Glasgow

G1 3PL

FIXED ASSETS

Tangible assets

4

11,671

13,835

CURRENT ASSETS

Debtors

5

300,726

362,720

Cash at bank and in hand

12,582

115

313,308

362,835

CREDITORS

Amounts falling due within one year

6

187,389

312,237

NET CURRENT ASSETS

125,919

50,598

TOTAL ASSETS LESS CURRENT LIABILITIES

137,590

64,433

CREDITORS

Amounts falling due after more than one year

7

119,450

46,500

NET ASSETS

18,140

17,933

CAPITAL AND RESERVES

Called up share capital

9

50

50

Capital redemption reserve

50

50

Retained earnings

18,040

17,833

SHAREHOLDERS' FUNDS

18,140

17,933

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 23 November 2021 and were signed on its behalf by:

Ms M Croft - Director

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

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.

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 COVID19 virus. Turnover reduced due to clients pausing work on projects due to uncertainty. The directors took action to introduce remote working to offset lost revenue. These actions resulted in the company achieving similar revenue to the prior year. We expect business to return to normal levels for 2021. Having regard to the above the directors believe it appropriate to adopt the going concern basis of accounting in preparing the financial statements.

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 17 (2019 - 17 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2020

90,906

Additions

5,128

At 31 December 2020

96,034

DEPRECIATION

At 1 January 2020

77,071

Charge for year

7,292

At 31 December 2020

84,363

NET BOOK VALUE

At 31 December 2020

11,671

At 31 December 2019

13,835

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

75,202

156,509

Amounts recoverable on contract

175,000

191,500

Other debtors

50,524

14,711

300,726

362,720

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

10,600

64,000

Trade creditors

11,970

48,551

Taxation and social security

105,314

147,160

Other creditors

59,505

52,526

187,389

312,237

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Bank loans

119,450

46,500

Amounts falling due in more than five years:

Repayable by instalments

Bank Loan > 5 years

45,050

21,700

8.	SECURED DEBTS

The following secured debts are included within creditors:

2020

2019

£

£

Bank overdraft

-

57,800

Bank loans

50,050

52,700

50,050

110,500

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

2020

2019

value:

£

£

50

Ordinary

£1

50

50

10.	OTHER FINANCIAL COMMITMENTS

At 31 December 2020, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £106,320 (2019: £132,900).

11.	RELATED PARTY DISCLOSURES

At the reporting date the amount owed to the company by the directors was £41,588 (2019: £35,387).

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 2020 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.

Hardie Caldwell LLP

Chartered Accountants

Citypoint 2

25 Tyndrum Street

Glasgow

G4 0JY

23 November 2021