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REGISTERED NUMBER: SC489427















SCOTTOILER SPORT SOLUTIONS LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023






SCOTTOILER SPORT SOLUTIONS LTD (REGISTERED NUMBER: SC489427)






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




Page

Balance Sheet 1

Notes to the Financial Statements 3


SCOTTOILER SPORT SOLUTIONS LTD (REGISTERED NUMBER: SC489427)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 133 1,078
Tangible assets 5 13,835 17,294
13,968 18,372

CURRENT ASSETS
Stocks 87,481 104,376
Debtors 6 1,277 1,563
Cash at bank and in hand 2,343 4,355
91,101 110,294
CREDITORS
Amounts falling due within one year 7 440,705 472,393
NET CURRENT LIABILITIES (349,604 ) (362,099 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(335,636

)

(343,727

)

CAPITAL AND RESERVES
Called up share capital 20,000 20,000
Share premium 997,463 997,463
Retained earnings (1,353,099 ) (1,361,190 )
(335,636 ) (343,727 )

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 SPORT SOLUTIONS LTD (REGISTERED NUMBER: SC489427)

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 SPORT SOLUTIONS LTD (REGISTERED NUMBER: SC489427)

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

1. STATUTORY INFORMATION

Scottoiler Sport Solutions Ltd is a private company, limited by shares, registered in Scotland. The company's registered office is 2 Riverside, Milngavie, Glasgow, 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.

Going concern
The financial statements have been prepared on a going concern basis. The validity of this is dependent on the financial support of the directors and creditors. After due consideration, the directors consider it appropriate to prepare the financial statements on a going concern basis.

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.

Computer software is being amortised evenly over its 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 cost and 20% on reducing balance

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.

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

SCOTTOILER SPORT SOLUTIONS LTD (REGISTERED NUMBER: SC489427)

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.

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.

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.

SCOTTOILER SPORT SOLUTIONS LTD (REGISTERED NUMBER: SC489427)

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

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Patents
and Computer
licences software Totals
£    £    £   
COST
At 1 November 2022
and 31 October 2023 513,519 14,800 528,319
AMORTISATION
At 1 November 2022 512,441 14,800 527,241
Amortisation for year 945 - 945
At 31 October 2023 513,386 14,800 528,186
NET BOOK VALUE
At 31 October 2023 133 - 133
At 31 October 2022 1,078 - 1,078

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 November 2022
and 31 October 2023 85,619 1,040 12,404 99,063
DEPRECIATION
At 1 November 2022 68,325 1,040 12,404 81,769
Charge for year 3,459 - - 3,459
At 31 October 2023 71,784 1,040 12,404 85,228
NET BOOK VALUE
At 31 October 2023 13,835 - - 13,835
At 31 October 2022 17,294 - - 17,294

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 163
Other debtors 1,277 1,400
1,277 1,563

SCOTTOILER SPORT SOLUTIONS LTD (REGISTERED NUMBER: SC489427)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors - 24
Amounts owed to associates 133,467 144,584
Other creditors 307,238 327,785
440,705 472,393

8. RELATED PARTY DISCLOSURES

At the balance sheet date the company owed £152,640 (2022 - £152,640) to the directors. The amount is included in creditors and is unsecured, interest free and has no fixed repayment terms.