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REGISTERED NUMBER: SC380729















SCOTNURSING & MEDICAL SERVICES LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023






SCOTNURSING & MEDICAL SERVICES LIMITED (REGISTERED NUMBER: SC380729)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


SCOTNURSING & MEDICAL SERVICES LIMITED (REGISTERED NUMBER: SC380729)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 13,568 16,914
13,568 16,914

CURRENT ASSETS
Debtors 6 113,603 237,864
Cash at bank 80,102 48,473
193,705 286,337
CREDITORS
Amounts falling due within one year 7 265,900 433,472
NET CURRENT LIABILITIES (72,195 ) (147,135 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(58,627

)

(130,221

)

CREDITORS
Amounts falling due after more than one year 8 (26,068 ) (36,461 )

PROVISIONS FOR LIABILITIES (2,860 ) (4,229 )
NET LIABILITIES (87,555 ) (170,911 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (87,655 ) (171,011 )
(87,555 ) (170,911 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

SCOTNURSING & MEDICAL SERVICES LIMITED (REGISTERED NUMBER: SC380729)

BALANCE SHEET - continued
31 MARCH 2023


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 November 2023 and were signed on its behalf by:





Ms A L Sinclair - Director


SCOTNURSING & MEDICAL SERVICES LIMITED (REGISTERED NUMBER: SC380729)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

ScotNursing & Medical Services Limited is a private company, limited by shares, registered in Scotland. The company's registered office is MABF, Suite 4-1 Merchant's House, 30 George Square, Glasgow, Scotland, G2 1EG.

The presentation currency of the financial statements is Sterling (£).

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. There were no material departures from this standard. The financial statements have been prepared under the historical cost convention.

Going concern
The financial statements have been prepared on a going concern basis. The company has net liabilities at the balance sheet date. The company is thus dependent on the continued financial support of its creditors. The directors are confident of this continuing support and of the company's long term trading prospects. After due consideration on the potential impact and future commitments, the directors consider it appropriate to prepare the financial statements on a going concern basis despite these uncertainties.

Judgements
The company considers on an annual basis the judgements that are made by management when applying its significant accounting policies that would have the most significant effect on amounts that are recognised in the financial statements. The directors consider there are no such significant judgements.

Turnover
Turnover represents the invoiced value of services provided during the period. The company's policy is to recognise a sale when all the risks and rewards in connection with the services have been passed to the customer.

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 the cost less estimated residual value of each asset over its estimated useful life.
Fixtures, fittings & equipment - 33.3% on cost

Tangible fixed assets are included at cost less accumulated depreciation and accumulated impairment losses.

Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount which is the higher of value in use and the fair value less cost to sell, is estimated and compared with the carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit and loss.

SCOTNURSING & MEDICAL SERVICES LIMITED (REGISTERED NUMBER: SC380729)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and loans to and from related parties.

Debt instruments like loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and trade creditors, are measured, initially and subsequently, at the undiscounted amount of cash or other consideration expected to be paid or received.

Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for evidence of impairment and if found, an impairment loss is recognised in profit or loss.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.

Taxation
Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in the periods in which the timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

With the exception of changes arising on the initial recognition of a business combination, the tax expense is presented either in profit or loss, other comprehensive income or statement of changes in equity depending on the transaction that resulted in the tax expense.

Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.

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.

Operating lease commitments
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Rentals receivable under operating leases are credited to the profit and loss account as they accrue.

SCOTNURSING & MEDICAL SERVICES LIMITED (REGISTERED NUMBER: SC380729)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

Provisions
Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated. Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

Government grants
Government grants relating to revenue expenditure are recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. Grants that become receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs shall be recognised in income in the period in which it becomes receivable.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 67 (2022 - 64 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 44,109
AMORTISATION
At 1 April 2022
and 31 March 2023 44,109
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

SCOTNURSING & MEDICAL SERVICES LIMITED (REGISTERED NUMBER: SC380729)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

5. TANGIBLE FIXED ASSETS
Fixtures,
fittings
& equipmen
£   
COST
At 1 April 2022 142,074
Additions 4,951
At 31 March 2023 147,025
DEPRECIATION
At 1 April 2022 125,160
Charge for year 8,297
At 31 March 2023 133,457
NET BOOK VALUE
At 31 March 2023 13,568
At 31 March 2022 16,914

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 103,921 225,246
Other debtors 9,682 12,618
113,603 237,864

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 141,970
Trade creditors 8,806 2,575
Taxation and social security 58,234 40,483
Other creditors 188,860 248,444
265,900 433,472

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 26,068 36,461

SCOTNURSING & MEDICAL SERVICES LIMITED (REGISTERED NUMBER: SC380729)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2023 2022
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans - 6,160

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Invoice factoring - 132,364

Lloyds Bank Commercial Finance Ltd held a bond and floating charge over the company's assets for invoice factoring.

10. OTHER FINANCIAL COMMITMENTS

The company has total commitments of £61,625 (2022 : £41,895), all of which fall due within the next 5 years.

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
Mrs A B Rushforth
Balance outstanding at start of year 654 (15,972 )
Amounts advanced 1,912 16,626
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,566 654

The loans are interest free, unsecured and have no fixed repayment terms.

12. RELATED PARTY DISCLOSURES

Interest of £66,144 (2022: £58,644) has been accrued on preference shares owed to a director.