Silverfin false 31/01/2023 01/02/2022 31/01/2023 Leslie Duncan Banks 01/12/2008 Brian Donaldson 01/12/2008 Heather Holbrook 21/02/2023 John Mcguire 01/02/2015 Alexander George Muego 01/02/2016 Christopher William Narrowmore 01/12/2008 Alastair Wallace 01/12/2008 David Young 01/12/2008 28 August 2023 The principal activity of the company continued to be that of construction consultants operating in MENA. SC171733 2023-01-31 SC171733 bus:Director1 2023-01-31 SC171733 bus:Director2 2023-01-31 SC171733 bus:Director3 2023-01-31 SC171733 bus:Director4 2023-01-31 SC171733 bus:Director5 2023-01-31 SC171733 bus:Director6 2023-01-31 SC171733 bus:Director7 2023-01-31 SC171733 bus:Director8 2023-01-31 SC171733 2022-01-31 SC171733 core:CurrentFinancialInstruments 2023-01-31 SC171733 core:CurrentFinancialInstruments 2022-01-31 SC171733 core:Non-currentFinancialInstruments 2023-01-31 SC171733 core:Non-currentFinancialInstruments 2022-01-31 SC171733 core:ShareCapital 2023-01-31 SC171733 core:ShareCapital 2022-01-31 SC171733 core:RetainedEarningsAccumulatedLosses 2023-01-31 SC171733 core:RetainedEarningsAccumulatedLosses 2022-01-31 SC171733 core:OtherResidualIntangibleAssets 2022-01-31 SC171733 core:OtherResidualIntangibleAssets 2023-01-31 SC171733 core:OtherPropertyPlantEquipment 2022-01-31 SC171733 core:OtherPropertyPlantEquipment 2023-01-31 SC171733 core:RemainingRelatedParties core:CurrentFinancialInstruments 2023-01-31 SC171733 core:RemainingRelatedParties core:CurrentFinancialInstruments 2022-01-31 SC171733 bus:OrdinaryShareClass1 2023-01-31 SC171733 bus:OrdinaryShareClass2 2023-01-31 SC171733 bus:OrdinaryShareClass3 2023-01-31 SC171733 bus:OrdinaryShareClass4 2023-01-31 SC171733 bus:OrdinaryShareClass5 2023-01-31 SC171733 bus:OtherShareClass1 2023-01-31 SC171733 bus:OtherShareClass2 2023-01-31 SC171733 2022-02-01 2023-01-31 SC171733 bus:FullAccounts 2022-02-01 2023-01-31 SC171733 bus:SmallEntities 2022-02-01 2023-01-31 SC171733 bus:AuditExemptWithAccountantsReport 2022-02-01 2023-01-31 SC171733 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 SC171733 bus:Director1 2022-02-01 2023-01-31 SC171733 bus:Director2 2022-02-01 2023-01-31 SC171733 bus:Director3 2022-02-01 2023-01-31 SC171733 bus:Director4 2022-02-01 2023-01-31 SC171733 bus:Director5 2022-02-01 2023-01-31 SC171733 bus:Director6 2022-02-01 2023-01-31 SC171733 bus:Director7 2022-02-01 2023-01-31 SC171733 bus:Director8 2022-02-01 2023-01-31 SC171733 core:OtherResidualIntangibleAssets core:TopRangeValue 2022-02-01 2023-01-31 SC171733 core:OtherPropertyPlantEquipment core:BottomRangeValue 2022-02-01 2023-01-31 SC171733 core:OtherPropertyPlantEquipment core:TopRangeValue 2022-02-01 2023-01-31 SC171733 2021-02-01 2022-01-31 SC171733 core:OtherResidualIntangibleAssets 1 2022-02-01 2023-01-31 SC171733 1 2022-02-01 2023-01-31 SC171733 core:OtherPropertyPlantEquipment 2022-02-01 2023-01-31 SC171733 core:OtherPropertyPlantEquipment 1 2022-02-01 2023-01-31 SC171733 bus:OrdinaryShareClass1 2022-02-01 2023-01-31 SC171733 bus:OrdinaryShareClass1 2021-02-01 2022-01-31 SC171733 bus:OrdinaryShareClass2 2022-02-01 2023-01-31 SC171733 bus:OrdinaryShareClass2 2021-02-01 2022-01-31 SC171733 bus:OrdinaryShareClass3 2022-02-01 2023-01-31 SC171733 bus:OrdinaryShareClass3 2021-02-01 2022-01-31 SC171733 bus:OrdinaryShareClass4 2022-02-01 2023-01-31 SC171733 bus:OrdinaryShareClass4 2021-02-01 2022-01-31 SC171733 bus:OrdinaryShareClass5 2022-02-01 2023-01-31 SC171733 bus:OrdinaryShareClass5 2021-02-01 2022-01-31 SC171733 bus:OtherShareClass1 2022-02-01 2023-01-31 SC171733 bus:OtherShareClass1 2021-02-01 2022-01-31 SC171733 bus:OtherShareClass2 2022-02-01 2023-01-31 SC171733 bus:OtherShareClass2 2021-02-01 2022-01-31 SC171733 1 2022-02-01 2023-01-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC171733 (Scotland)

THOMAS & ADAMSON INTERNATIONAL LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 JANUARY 2023
PAGES FOR FILING WITH THE REGISTRAR

THOMAS & ADAMSON INTERNATIONAL LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JANUARY 2023

Contents

THOMAS & ADAMSON INTERNATIONAL LIMITED

BALANCE SHEET

AS AT 31 JANUARY 2023
THOMAS & ADAMSON INTERNATIONAL LIMITED

BALANCE SHEET (continued)

AS AT 31 JANUARY 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 3 0 70
Tangible assets 4 2,413 880
2,413 950
Current assets
Debtors 5 1,065,054 363,727
Cash at bank and in hand 138,528 45,621
1,203,582 409,348
Creditors: amounts falling due within one year 6 ( 363,550) ( 256,779)
Net current assets 840,032 152,569
Total assets less current liabilities 842,445 153,519
Creditors: amounts falling due after more than one year 7 ( 124,950) ( 123,891)
Net assets 717,495 29,628
Capital and reserves
Called-up share capital 8 1,060 1,000
Profit and loss account 716,435 28,628
Total shareholder's funds 717,495 29,628

For the financial year ending 31 January 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Thomas & Adamson International Limited (registered number: SC171733) were approved and authorised for issue by the Director on 28 August 2023. They were signed on its behalf by:

Alastair Wallace
Director
THOMAS & ADAMSON INTERNATIONAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JANUARY 2023
THOMAS & ADAMSON INTERNATIONAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JANUARY 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Thomas & Adamson International Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 13 Lister Square, Quartermile, Edinburgh, EH3 9GL, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the presentational currency of the company and rounded to the nearest £. The functional currency of the company is Dirham.

Going concern

In 2023 the directors made the decision that the company would cease trading and that the branch activities in Dubai be transferred to a Dubai registered LLC, and its Abu Dhabi business to an Abu Dhabi registered LLC. As a result the financial statements have been prepared on a basis other than the going concern basis of preparation. The directors have included in the financial statements any provision for future costs of terminating the business, which were committed to at the balance sheet date and where appropriate the Company's assets have been written down to their net realisable value.

Foreign currency

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the profit and loss account for the period.

Turnover

Turnover represents amounts receivable for consultancy services net of VAT and trade discounts and is recognised at the point of performance.

Employee benefits

Short term benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Defined contribution schemes
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

Taxation

Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Intangible assets

Intangible assets are stated at cost, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost of each asset over its expected useful life as follows:

Other intangible assets 2 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 2 - 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Rentals payable under operating leases, including any lease incentives received, are charged to income on a straight-line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.

Impairment of assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate in order to determine the recoverable amount of cash-generating unit to which the asset belongs.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at cost less impairment.

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

Basic financial liabilities
Basic financial liabilities, including creditors, loans from fellow group companies and related undertaking loans that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 16 16

3. Intangible assets

Other intangible assets Total
£ £
Cost
At 01 February 2022 21,309 21,309
Foreign Exchange Adjustment 1,911 1,911
At 31 January 2023 23,220 23,220
Accumulated amortisation
At 01 February 2022 21,239 21,239
Foreign Exchange Adjustment 1,981 1,981
At 31 January 2023 23,220 23,220
Net book value
At 31 January 2023 0 0
At 31 January 2022 70 70

4. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 February 2022 44,997 44,997
Additions 2,493 2,493
Foreign Exchange Adjustment 4,042 4,042
At 31 January 2023 51,532 51,532
Accumulated depreciation
At 01 February 2022 44,117 44,117
Charge for the financial year 270 270
Foreign Exchange Adjustment 4,732 4,732
At 31 January 2023 49,119 49,119
Net book value
At 31 January 2023 2,413 2,413
At 31 January 2022 880 880

5. Debtors

2023 2022
£ £
Trade debtors 1,131,725 320,383
Other debtors ( 66,671) 43,344
1,065,054 363,727

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 13,128 25,563
Amounts owed to related parties 191,631 208,435
Other taxation and social security 124,138 5,143
Other creditors 34,653 17,638
363,550 256,779

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Other creditors 124,950 123,891

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 1.00 each 1,000 1,000
10 A Ordinary shares of £ 1.00 each (2022: nil shares) 10 0
10 B Ordinary shares of £ 1.00 each (2022: nil shares) 10 0
10 C Ordinary shares of £ 1.00 each (2022: nil shares) 10 0
10 D Ordinary shares of £ 1.00 each (2022: nil shares) 10 0
10 E Ordinary shares of £ 1.00 each (2022: nil shares) 10 0
10 F Ordinary shares of £ 1.00 each (2022: nil shares) 10 0
1,060 1,000

On 31 January 2023 the company issued an additional 60 shares of £1 each split across the following classes: 10 ‘A’ ordinary shares, 10 ‘B’ ordinary shares, 10 ‘C’ ordinary shares, 10 ‘D’ ordinary shares, 10 ‘E’ ordinary shares and 10 ‘F’ ordinary shares.

9. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2023 2022
£ £
within one year 24,803 24,803

10. Events after the Balance Sheet date

The company intends to cease its direct branch activities in the Middle East and is in the process of transferring its respective business in Dubai to a Dubai registered LLC, and its Abu Dhabi business to an Abu Dhabi registered LLC. The company will be the sole owners of both LLCs.

Subsequent to the yearend the company declared a dividend of £32,000.