Registered number
SC361021
IHS Scotland Limited
Filleted Accounts
31 December 2023
IHS Scotland Limited
Registered number: SC361021
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 248,883 267,725
Current assets
Stocks 14,476 3,225
Debtors 4 83,181 124,778
Cash at bank and in hand 202,254 174,144
299,911 302,147
Creditors: amounts falling due within one year 5 (101,189) (99,379)
Net current assets 198,722 202,768
Total assets less current liabilities 447,605 470,493
Creditors: amounts falling due after more than one year 6 (102,130) (139,268)
Net assets 345,475 331,225
Capital and reserves
Called up share capital 100 100
Profit and loss account 345,375 331,125
Shareholders' funds 345,475 331,225
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Duncan Don
Director
Approved by the board on 9 April 2024
IHS Scotland Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles 25% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 8 6
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 January 2023 49,303 345,538 394,841
Additions 10,715 31,000 41,715
Disposals - (4,500) (4,500)
At 31 December 2023 60,018 372,038 432,056
Depreciation
At 1 January 2023 30,157 96,959 127,116
Charge for the year 5,957 51,720 57,677
On disposals - (1,620) (1,620)
At 31 December 2023 36,114 147,059 183,173
Net book value
At 31 December 2023 23,904 224,979 248,883
At 31 December 2022 19,146 248,579 267,725
4 Debtors 2023 2022
£ £
Trade debtors 83,181 124,778
5 Creditors: amounts falling due within one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 37,138 37,138
Trade creditors 33,225 21,153
Taxation and social security costs 30,516 40,584
Other creditors 310 504
101,189 99,379
6 Creditors: amounts falling due after one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 102,130 139,268
7 Other information
IHS Scotland Limited is a private company limited by shares and incorporated in Scotland. Its registered office is:
17 Flowerhill Street
Airdrie
ML6 6AP
IHS Scotland Limited SC361021 false 2023-01-01 2023-12-31 2023-12-31 VT Final Accounts October 2023 release 2 Duncan Don No description of principal activity SC361021 2022-01-01 2022-12-31 SC361021 core:WithinOneYear 2022-12-31 SC361021 core:AfterOneYear 2022-12-31 SC361021 core:ShareCapital 2022-12-31 SC361021 core:RetainedEarningsAccumulatedLosses 2022-12-31 SC361021 2023-01-01 2023-12-31 SC361021 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 SC361021 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 SC361021 bus:Director40 2023-01-01 2023-12-31 SC361021 1 2023-01-01 2023-12-31 SC361021 2 2023-01-01 2023-12-31 SC361021 core:PlantMachinery 2023-01-01 2023-12-31 SC361021 core:Vehicles 2023-01-01 2023-12-31 SC361021 countries:England 2023-01-01 2023-12-31 SC361021 bus:FRS102 2023-01-01 2023-12-31 SC361021 bus:FullAccounts 2023-01-01 2023-12-31 SC361021 2023-12-31 SC361021 core:WithinOneYear 2023-12-31 SC361021 core:AfterOneYear 2023-12-31 SC361021 core:ShareCapital 2023-12-31 SC361021 core:RetainedEarningsAccumulatedLosses 2023-12-31 SC361021 core:PlantMachinery 2023-12-31 SC361021 core:Vehicles 2023-12-31 SC361021 2022-12-31 SC361021 core:PlantMachinery 2022-12-31 SC361021 core:Vehicles 2022-12-31 iso4217:GBP xbrli:pure