Appliance Market Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: SC758017 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 7 FEBRUARY 2023 TO 31 DECEMBER 2023

FOR

APPLIANCE MARKET LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

D Towill

REGISTERED OFFICE:

K1 Forge Market

1201 Duke Street

Glasgow

G31 5NZ

REGISTERED NUMBER:

SC758017 (Scotland)

ACCOUNTANTS:

Donachie Chartered Accountants

2nd Floor

Templeton House

62 Templeton Street

Glasgow

G40 1DA

CURRENT ASSETS

Cash at bank

9,058

CREDITORS

Amounts falling due within one year

4

8,486

NET CURRENT ASSETS

572

TOTAL ASSETS LESS CURRENT LIABILITIES

572

CAPITAL AND RESERVES

Called up share capital

5

1

Retained earnings

571

SHAREHOLDERS' FUNDS

572

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2023 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 9 April 2024 and were signed by:

D Towill - Director

1.	STATUTORY INFORMATION

Appliance Market 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Taxation

Taxation for the period 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 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.

Financial instruments

Financial instruments are classified and accounted for as financial assets, financial liabilities or equity instruments, according to the substance of the contractual arrangement.

Financial instruments which are assets are stated at cost less any provision for impairment. Financial liabilities are stated at principal capital amounts outstanding at the period end. Issue costs relating to financial liabilities are deducted from the outstanding balance and are amortised over the period to the due date for repayment of the financial liability.

An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. A financial liability is any contractual arrangement for an entity to deliver cash to the holder of the associated financial instrument.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 .

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

350

Corporation tax

134

VAT

1,002

Accruals and deferred income

7,000

8,486

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

1

Ordinary

£1

1

1 Ordinary share of £1 was allotted and fully paid for cash at par during the period.

6.	RELATED PARTY DISCLOSURES

Merchant City Distributors Limited

A Company controlled by the director - D Towill

During the period, the company purchased goods totalling of £79,038 from Merchant City Distributors Limited. D Towill is the sole director and shareholder of Merchant City distributors by virtue of his 100% shareholding in Merchant City Global Holdings Limited.

7.	ULTIMATE CONTROLLING PARTY

The controlling party is D Towill.