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REGISTERED NUMBER: SC582807 (Scotland)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

SCOTPLAS TRADE CENTRES LIMITED

SCOTPLAS TRADE CENTRES LIMITED (REGISTERED NUMBER: SC582807)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SCOTPLAS TRADE CENTRES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: K H Maxwell





REGISTERED OFFICE: Unit 17 John Brannan Way
Darrows Industrial Estate
Bellshill
United Kingdom
ML4 3HD





REGISTERED NUMBER: SC582807 (Scotland)





ACCOUNTANTS: McDaid & Partners
Stanley House
69/71 Hamilton Road
Motherwell
Lanarkshire
ML1 3DG

SCOTPLAS TRADE CENTRES LIMITED (REGISTERED NUMBER: SC582807)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 47,428 54,817

CURRENT ASSETS
Stocks 125,000 160,000
Debtors 5 274,213 270,379
Cash at bank 472,748 518,229
871,961 948,608
CREDITORS
Amounts falling due within one year 6 362,788 503,647
NET CURRENT ASSETS 509,173 444,961
TOTAL ASSETS LESS CURRENT
LIABILITIES

556,601

499,778

PROVISIONS FOR LIABILITIES 4,896 3,534
NET ASSETS 551,705 496,244

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 551,704 496,243
551,705 496,244

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 April 2024 and were signed by:



K H Maxwell - Director


SCOTPLAS TRADE CENTRES LIMITED (REGISTERED NUMBER: SC582807)

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

1. STATUTORY INFORMATION

Scotplas Trade Centres Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is stated net of VAT and trade discounts. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where the contract has only been partially completed at the balance sheet date turnover represents the value of the service provided to date based on a proportion of the total contract value. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant & machinery - 15% on cost
Fixtures & fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Trade debtors
Trade debtors are amounts due from customers for goods or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade Creditors
Trade creditors are amounts due to suppliers for goods or services obtained in the ordinary course of business.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Cash
Cash and cash equivalents are basic financial assets and include cash on hand, deposits held at call with banks, other short-term liquid investments and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.


SCOTPLAS TRADE CENTRES LIMITED (REGISTERED NUMBER: SC582807)

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

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant & Fixtures Motor
machinery & fittings vehicles Totals
£    £    £    £   
COST
At 1 January 2023 - 6,800 73,216 80,016
Additions 7,044 - 8,500 15,544
Disposals - - (10,500 ) (10,500 )
At 31 December 2023 7,044 6,800 71,216 85,060
DEPRECIATION
At 1 January 2023 - 1,670 23,529 25,199
Charge for year 176 770 11,706 12,652
Eliminated on disposal - - (219 ) (219 )
At 31 December 2023 176 2,440 35,016 37,632
NET BOOK VALUE
At 31 December 2023 6,868 4,360 36,200 47,428
At 31 December 2022 - 5,130 49,687 54,817

SCOTPLAS TRADE CENTRES LIMITED (REGISTERED NUMBER: SC582807)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 102,935 160,759
Other debtors 171,278 109,620
274,213 270,379

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 150,876 159,433
Taxation and social security 154,513 242,384
Other creditors 57,399 101,830
362,788 503,647

7. OTHER FINANCIAL COMMITMENTS

The company has future operating lease commitments of £429,125 (2022 £456,125).

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

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

31.12.23 31.12.22
£    £   
K H Maxwell
Balance outstanding at start of year 68,829 86,917
Amounts advanced 50,000 50,000
Amounts repaid (87,409 ) (68,088 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 31,420 68,829

Loans to/from the directors are interest free and repayable on demand.

9. RELATED PARTY DISCLOSURES

K Maxwell is 30% shareholder and director of 23 Doors Ltd. Included within other debtors is a balance of £117,500 (2022 £97,500) due from the company.