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REGISTERED NUMBER: SC454914 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2021

for

Atholl Scott Ltd

Atholl Scott Ltd (Registered number: SC454914)






Contents of the Financial Statements
for the Year Ended 31 December 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Atholl Scott Ltd

Company Information
for the Year Ended 31 December 2021







DIRECTORS: P R Pirie
R J Fraser
G R J West
M Sutherland
G Lindsay





REGISTERED OFFICE: Victoria House
13 Victoria Street
ABERDEEN
AB10 1XB





REGISTERED NUMBER: SC454914 (Scotland)






Atholl Scott Ltd (Registered number: SC454914)

Balance Sheet
31 December 2021

31.12.21 31.12.20
Notes £    £   
FIXED ASSETS
Intangible assets 4 287,500 402,500
Tangible assets 5 17,471 18,210
304,971 420,710

CURRENT ASSETS
Stocks 1,264 1,391
Debtors 6 563,545 581,569
Cash at bank and in hand 214,651 317,375
779,460 900,335
CREDITORS
Amounts falling due within one
year

7

(320,722

)

(306,535

)
NET CURRENT ASSETS 458,738 593,800
TOTAL ASSETS LESS CURRENT
LIABILITIES

763,709

1,014,510

CREDITORS
Amounts falling due after more
than one year

8

(219,560

)

(341,030

)

PROVISIONS FOR LIABILITIES (2,666 ) (2,693 )
NET ASSETS 541,483 670,787

CAPITAL AND RESERVES
Called up share capital 200 200
Revaluation reserve 10 14,998 14,998
Capital contribution 172,100 242,670
Retained earnings 354,185 412,919
SHAREHOLDERS' FUNDS 541,483 670,787

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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.

Atholl Scott Ltd (Registered number: SC454914)

Balance Sheet - continued
31 December 2021


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 9 September 2022 and were signed on its behalf by:




P R Pirie - Director R J Fraser - Director




G R J West - Director M Sutherland - Director




G Lindsay - Director


Atholl Scott Ltd (Registered number: SC454914)

Notes to the Financial Statements
for the Year Ended 31 December 2021

1. STATUTORY INFORMATION

Atholl Scott 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents amounts receivable for services rendered during the year, exclusive of value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 4% on cost
Equipment and furniture - 15% on reducing balance
Computer equipment - 33% 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.

Atholl Scott Ltd (Registered number: SC454914)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

2. ACCOUNTING POLICIES - continued

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 33 (2020 - 33 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2021
and 31 December 2021 1,150,000
AMORTISATION
At 1 January 2021 747,500
Amortisation for year 115,000
At 31 December 2021 862,500
NET BOOK VALUE
At 31 December 2021 287,500
At 31 December 2020 402,500

5. TANGIBLE FIXED ASSETS
Improvements Equipment
to and Computer
property furniture equipment Totals
£    £    £    £   
COST OR VALUATION
At 1 January 2021 9,657 13,364 27,510 50,531
Additions - 893 2,027 2,920
Disposals - (251 ) - (251 )
At 31 December 2021 9,657 14,006 29,537 53,200
DEPRECIATION
At 1 January 2021 1,459 7,839 23,023 32,321
Charge for year 386 935 2,149 3,470
Eliminated on disposal - (62 ) - (62 )
At 31 December 2021 1,845 8,712 25,172 35,729
NET BOOK VALUE
At 31 December 2021 7,812 5,294 4,365 17,471
At 31 December 2020 8,198 5,525 4,487 18,210

Atholl Scott Ltd (Registered number: SC454914)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

5. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 December 2021 is represented by:

Improvements Equipment
to and Computer
property furniture equipment Totals
£    £    £    £   
Valuation in 2014 - 5,999 8,999 14,998
Cost 9,657 8,007 20,538 38,202
9,657 14,006 29,537 53,200

If furniture and equipment had not been revalued it would have been included at the following historical cost:

31.12.21 31.12.20
£    £   
Cost 28,796 25,875
Aggregate depreciation 21,121 18,638

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Trade debtors 515,454 538,980
Other debtors - 1,021
Prepayments 48,091 41,568
563,545 581,569

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Preference shares 128,340 76,300
Trade creditors 14,843 11,389
Tax 54,081 89,469
PAYE 13,970 10,899
VAT 66,102 72,329
Other creditors 9,610 10,068
Accrued expenses 33,776 36,081
320,722 306,535

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.21 31.12.20
£    £   
Preference shares 119,880 71,300
Preference shares 99,680 175,050
Preference shares - 94,680
219,560 341,030

Amounts falling due in more than five years:

Repayable by instalments
Preference shares - 94,680

Atholl Scott Ltd (Registered number: SC454914)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.21 31.12.20
£    £   
Within one year 81,822 78,027
Between one and five years 306,547 286,889
In more than five years 53,836 107,968
442,205 472,884

10. RESERVES
Revaluation
reserve
£   
At 1 January 2021
and 31 December 2021 14,998

11. ULTIMATE CONTROLLING PARTY

The company is controlled by its directors.