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REGISTERED NUMBER: SC139685















SCOTTOILER (SCOTLAND) LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023






SCOTTOILER (SCOTLAND) LIMITED (REGISTERED NUMBER: SC139685)






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




Page

Balance Sheet 1

Notes to the Financial Statements 3


SCOTTOILER (SCOTLAND) LIMITED (REGISTERED NUMBER: SC139685)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 162,002 141,715
162,002 141,715

CURRENT ASSETS
Stocks 240,355 255,020
Debtors 6 235,105 227,311
Cash at bank and in hand 354,345 352,641
829,805 834,972
CREDITORS
Amounts falling due within one year 7 241,659 250,893
NET CURRENT ASSETS 588,146 584,079
TOTAL ASSETS LESS CURRENT
LIABILITIES

750,148

725,794

CREDITORS
Amounts falling due after more than one year 8 (57,003 ) (76,334 )

PROVISIONS FOR LIABILITIES (40,501 ) (35,428 )
NET ASSETS 652,644 614,032

CAPITAL AND RESERVES
Called up share capital 25,000 25,000
Retained earnings 627,644 589,032
652,644 614,032

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

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

SCOTTOILER (SCOTLAND) LIMITED (REGISTERED NUMBER: SC139685)

BALANCE SHEET - continued
31 OCTOBER 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 27 March 2024 and were signed on its behalf by:





F S Thomson - Director


SCOTTOILER (SCOTLAND) LIMITED (REGISTERED NUMBER: SC139685)

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

1. STATUTORY INFORMATION

Scottoiler (Scotland) Limited is a private company, limited by shares, registered in Scotland. The company's registered office is 2 Riverside, Milngavie, Glasgow, Lanarkshire, G62 6PL.

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 that standard. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the invoice value of goods and services rendered during the year, excluding value added tax. The company's policy is to recognise a sale when substantively all of the risks and rewards in connection with the goods and services have been passed to the buyer.

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.

Patents and licences are being amortised evenly over their estimated useful life of five years.

Development costs are being amortised evenly over their estimated useful life of three years.

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.
Plant and machinery etc - 25% on reducing balance, 20% on reducing balance, 20% on cost and 2% 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 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.

Government grants
Government grants relating to revenue 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.

Grants related to the purchase of assets are recognised on a systematic basis over the useful economic life of the underlying assets acquired with the grant.

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to sell.

SCOTTOILER (SCOTLAND) LIMITED (REGISTERED NUMBER: SC139685)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 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 and loans from banks.

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 and cash held at banks.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating result.

Leasing commitments
Rentals paid under operating leases are recognised in the profit and 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.

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 to be none.

SCOTTOILER (SCOTLAND) LIMITED (REGISTERED NUMBER: SC139685)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 14 ) .

4. INTANGIBLE FIXED ASSETS
Patents
and Development
licences costs Totals
£    £    £   
COST
At 1 November 2022
and 31 October 2023 55,620 19,155 74,775
AMORTISATION
At 1 November 2022
and 31 October 2023 55,620 19,155 74,775
NET BOOK VALUE
At 31 October 2023 - - -
At 31 October 2022 - - -

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 November 2022 18,759 127,967 36,848
Additions 9,516 20,457 -
At 31 October 2023 28,275 148,424 36,848
DEPRECIATION
At 1 November 2022 1,149 116,094 32,799
Charge for year 401 6,360 811
At 31 October 2023 1,550 122,454 33,610
NET BOOK VALUE
At 31 October 2023 26,725 25,970 3,238
At 31 October 2022 17,610 11,873 4,049

SCOTTOILER (SCOTLAND) LIMITED (REGISTERED NUMBER: SC139685)

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

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 November 2022 164,436 189,717 537,727
Additions 32,795 912 63,680
At 31 October 2023 197,231 190,629 601,407
DEPRECIATION
At 1 November 2022 66,246 179,724 396,012
Charge for year 32,748 3,073 43,393
At 31 October 2023 98,994 182,797 439,405
NET BOOK VALUE
At 31 October 2023 98,237 7,832 162,002
At 31 October 2022 98,190 9,993 141,715

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 59,961 53,817
Amounts owed by associates 133,467 144,584
Other debtors 41,677 28,910
235,105 227,311

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 42,325 36,939
Trade creditors 55,569 46,950
Amounts owed to associates 93,832 103,517
Taxation and social security 6,770 7,561
Other creditors 43,163 55,926
241,659 250,893

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 57,003 76,334

SCOTTOILER (SCOTLAND) LIMITED (REGISTERED NUMBER: SC139685)

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

9. OTHER FINANCIAL COMMITMENTS

The company has total commitments of £1,904 (2022 - £2,856).

10. RELATED PARTY DISCLOSURES

At the balance sheet date the company owed £28,023 (2022 - £42,794) to the directors. The amount is included in creditors and is unsecured, interest free and has no fixed repayment terms.