Storybook Glen Limited Filleted accounts for Companies House (small and micro)

STORYBOOK GLEN LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: SC105754

Storybook Glen Limited

Filleted Unaudited Financial Statements

28 February 2023

Storybook Glen Limited

Statement of Financial Position

28 February 2023

	2023	2022
Note	£	£

Fixed assets

Tangible assets	5	414,492	430,074

Current assets

Stocks		4,572	4,150
Debtors	6	7,145	–
Cash at bank and in hand		169,142	241,389
		---------	---------
		180,859	245,539

Creditors: amounts falling due within one year	7	60,080	71,185
		---------	---------
Net current assets		120,779	174,354
		---------	---------
Total assets less current liabilities		535,271	604,428

Provisions	7,536	8,009
	---------	---------
Net assets	527,735	596,419
	---------	---------

Capital and reserves

Called up share capital	12,000	12,000
Profit and loss account	515,735	584,419
	---------	---------
Shareholders funds	527,735	596,419
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Storybook Glen Limited

Statement of Financial Position (continued)

28 February 2023

These financial statements were approved by the board of directors and authorised for issue on 30 November 2023 , and are signed on behalf of the board by:

Mr B Liddell

Director

Company registration number: SC105754

Storybook Glen Limited

Notes to the Financial Statements

Year ended 28 February 2023

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is Storybook Glen, Maryculter, Aberdeen, AB12 5FT.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover represents entrance receipts and sale of goods during the year stated net of value added tax and is recognised at the point of sale.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold property	-	2% straight line
Plant and machinery	-	20% reducing balance

Stocks

Stocks are stated at the lower of cost estimated selling price.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 19 (2022: 14 ).

5. Tangible assets

	Freehold property	Plant and machinery	Total
	£	£	£
Cost
At 1 March 2022	610,655	326,196	936,851
Additions	–	6,549	6,549
	---------	---------	---------
At 28 February 2023	610,655	332,745	943,400
	---------	---------	---------
Depreciation
At 1 March 2022	223,614	283,163	506,777
Charge for the year	12,213	9,918	22,131
	---------	---------	---------
At 28 February 2023	235,827	293,081	528,908
	---------	---------	---------
Carrying amount
At 28 February 2023	374,828	39,664	414,492
	---------	---------	---------
At 28 February 2022	387,041	43,033	430,074
	---------	---------	---------

6. Debtors

	2023	2022
	£	£
Other debtors	7,145	–
	-------	----

7. Creditors: amounts falling due within one year

	2023	2022
	£	£
Trade creditors	21,780	13,821
Corporation tax	–	34,481
Social security and other taxes	29,861	16,174
Other creditors	8,439	6,709
	--------	--------
	60,080	71,185
	--------	--------