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REGISTERED NUMBER: 11682743 (England and Wales)












Unaudited Financial Statements for the Year Ended 30 November 2023

for

Scott Cip Limited

Scott Cip Limited (Registered number: 11682743)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Scott Cip Limited

Company Information
for the Year Ended 30 November 2023







DIRECTOR: D R Scott





REGISTERED OFFICE: Prince William House
10 Lower Church Street
Ashby de la Zouch
Leicestershire
LE65 1AB





REGISTERED NUMBER: 11682743 (England and Wales)





ACCOUNTANTS: The Profit Key Limited
Prince William House
10 Lower Church Street
Ashby de la Zouch
Leicestershire
LE65 1AB

Scott Cip Limited (Registered number: 11682743)

Statement of Financial Position
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,027 305

CURRENT ASSETS
Stocks 9,078 9,731
Debtors 5 117 1,786
Cash at bank 63,102 58,157
72,297 69,674
CREDITORS
Amounts falling due within one year 6 28,612 30,777
NET CURRENT ASSETS 43,685 38,897
TOTAL ASSETS LESS CURRENT
LIABILITIES

44,712

39,202

PROVISIONS FOR LIABILITIES 195 58
NET ASSETS 44,517 39,144

CAPITAL AND RESERVES
Called up share capital 7 300 300
Retained earnings 44,217 38,844
SHAREHOLDERS' FUNDS 44,517 39,144

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

Scott Cip Limited (Registered number: 11682743)

Statement of Financial Position - continued
30 November 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 January 2024 and were signed by:





D R Scott - Director


Scott Cip Limited (Registered number: 11682743)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Scott Cip Limited is a private company, limited by shares , registered in England and Wales. 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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Loans from directors
Any loans from the Director to the company are interest free and repayable on demand.

Scott Cip Limited (Registered number: 11682743)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 December 2022 457
Additions 1,028
At 30 November 2023 1,485
DEPRECIATION
At 1 December 2022 152
Charge for year 306
At 30 November 2023 458
NET BOOK VALUE
At 30 November 2023 1,027
At 30 November 2022 305

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors - 1,468
VAT 96 298
Prepayments 21 20
117 1,786

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Tax 13,876 13,617
Other creditors 2,510 926
Directors' current accounts 10,934 15,244
Accrued expenses 1,292 990
28,612 30,777

Scott Cip Limited (Registered number: 11682743)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100
200 Ordinary A & B £1 200 200
300 300

8. OTHER FINANCIAL COMMITMENTS

The company has operating lease commitments totalling £2,253 (2022 - £7,820) over the remaining period of the lease.