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REGISTERED NUMBER: SC619172 (Scotland)










Strategic Report, Report of the Director and

Financial Statements for the Year Ended 30 June 2023

for

Scotb123 Ltd

Scotb123 Ltd (Registered number: SC619172)






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




Page

Company Information 1

Strategic Report 2

Report of the Director 3

Statement of Director's Responsibilities 4

Report of the Independent Auditors 5

Income Statement 8

Other Comprehensive Income 9

Balance Sheet 10

Statement of Changes in Equity 11

Cash Flow Statement 12

Notes to the Cash Flow Statement 13

Notes to the Financial Statements 15


Scotb123 Ltd

Company Information
for the Year Ended 30 June 2023







DIRECTOR: M A Bringhurst





REGISTERED OFFICE: 84b Clerk Street
LOANHEAD
EH20 9RG





REGISTERED NUMBER: SC619172 (Scotland)





AUDITORS: The Kelvin Partnership Ltd
Statutory Auditor
Chartered Accountants
The Cooper Building
505 Great Western Road
Glasgow
G12 8HN

Scotb123 Ltd (Registered number: SC619172)

Strategic Report
for the Year Ended 30 June 2023

The director presents his strategic report for the year ended 30 June 2023.

PRINCIPAL RISKS AND UNCERTAINTIES
There are a number of potential risks and uncertainties, which have been identified within the business, which could have a material impact on the long term performances. Trading levels are linked to the local economies in which the business operates, which is mitigated by having a geographical spread across Scotland.

FINANCIAL KEY PERFORMANCE INDICATORS
The director monitors performance based on revenue generated from Sportsbook and Fixed Odds Betting Terminals (FOBT). Profitability is tracked using the Gross Profit and EBITDA.

GOING CONCERN
The financial statements have been prepared on a going concern basis. The director has prepared forecasts for the next twelve months which take account of the rising costs and expected turnover based on currency levels. The forecasts show that the company has adequate resources, including the availability of current bank funding to continue in operational existence for the foreseeable future.

ON BEHALF OF THE BOARD:





M A Bringhurst - Director


30 July 2024

Scotb123 Ltd (Registered number: SC619172)

Report of the Director
for the Year Ended 30 June 2023

The director presents his report with the financial statements of the company for the year ended 30 June 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of Bookmakers.

DIVIDENDS
The total distribution of dividends for the year ended 30 June 2023 will be £328,777.

FUTURE DEVELOPMENTS
The directors remain confident for the future prospects of the company.

DIRECTOR
M A Bringhurst held office during the whole of the period from 1 July 2022 to the date of this report.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, The Kelvin Partnership Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





M A Bringhurst - Director


30 July 2024

Scotb123 Ltd (Registered number: SC619172)

Statement of Director's Responsibilities
for the Year Ended 30 June 2023

The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Report of the Independent Auditors to the Members of
Scotb123 Ltd

Opinion
We have audited the financial statements of Scotb123 Ltd (the 'company') for the year ended 30 June 2023 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 30 June 2023 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Strategic Report, the Report of the Director and the Statement of Director's Responsibilities, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Report of the Independent Auditors to the Members of
Scotb123 Ltd


Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page four, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Scotb123 Ltd


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatement in the financial statements, even though we had properly planned and performed our audit in accordance with accounting standards. For example the further removed non-compliance with laws and regulations from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standard would identify it.

In addition, with any audit, there remained a higher risk of non-detection of fraud, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. Our audit procedures are designed to detect material misstatement.We are not responsible for for preventing non-compliance or fraud and cannot be expected to detect non-compliance with all laws and regulations

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Brian Meldrum CA (Senior Statutory Auditor)
for and on behalf of The Kelvin Partnership Ltd
Statutory Auditor
Chartered Accountants
The Cooper Building
505 Great Western Road
Glasgow
G12 8HN

30 July 2024

Scotb123 Ltd (Registered number: SC619172)

Income Statement
for the Year Ended 30 June 2023

Period
1.8.21
Year Ended to
30.6.23 30.6.22
as restated
Notes £    £   

TURNOVER 58,320,283 50,395,606

Cost of sales 53,112,220 46,043,373
GROSS PROFIT 5,208,063 4,352,233

Administrative expenses 4,564,746 4,115,018
OPERATING PROFIT 4 643,317 237,215

Interest receivable and similar income 126 -
643,443 237,215

Interest payable and similar expenses 5 1,980 99,386
PROFIT BEFORE TAXATION 641,463 137,829

Tax on profit 6 142,747 34,133
PROFIT FOR THE FINANCIAL
YEAR

498,716

103,696

Scotb123 Ltd (Registered number: SC619172)

Other Comprehensive Income
for the Year Ended 30 June 2023

Period
1.8.21
Year Ended to
30.6.23 30.6.22
as restated
Notes £    £   

PROFIT FOR THE YEAR 498,716 103,696


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE
INCOME FOR THE YEAR

498,716

103,696
Note
Prior year adjustment 8 (1,307,980 )
TOTAL COMPREHENSIVE
INCOME SINCE LAST ANNUAL
REPORT


(809,264


)

Scotb123 Ltd (Registered number: SC619172)

Balance Sheet
30 June 2023

30.6.23 30.6.22 1.8.21
as restated
Notes £    £    £   
FIXED ASSETS
Intangible assets 9 67,816 130,415 187,797
Tangible assets 10 1,196,070 1,308,222 1,688,474
1,263,886 1,438,637 1,876,271

CURRENT ASSETS
Debtors 11 199,018 112,606 212,707
Cash at bank and in hand 1,184,500 864,532 923,725
1,383,518 977,138 1,136,432
CREDITORS
Amounts falling due within one year 12 (2,283,340 ) (2,234,815 ) (2,896,272 )
NET CURRENT LIABILITIES (899,822 ) (1,257,677 ) (1,759,840 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

364,064

180,960

116,431

CREDITORS
Amounts falling due after more than one
year

-

-

(39,167

)

PROVISIONS FOR LIABILITIES 14 (29,350 ) (16,185 ) (16,185 )
NET ASSETS 334,714 164,775 61,079

CAPITAL AND RESERVES
Called up share capital 15 10 10 10
Retained earnings 16 334,704 164,765 61,069
SHAREHOLDERS' FUNDS 334,714 164,775 61,079

The financial statements were approved by the director and authorised for issue on 30 July 2024 and were signed by:





M A Bringhurst - Director


Scotb123 Ltd (Registered number: SC619172)

Statement of Changes in Equity
for the Year Ended 30 June 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 August 2021 10 61,069 61,079

Changes in equity
Total comprehensive income - 1,411,676 1,411,676
Balance at 30 June 2022 10 1,472,745 1,472,755
Prior year adjustment - (1,307,980 ) (1,307,980 )
As restated 10 164,765 164,775

Changes in equity
Dividends - (328,777 ) (328,777 )
Total comprehensive income - 498,716 498,716
Balance at 30 June 2023 10 334,704 334,714

Scotb123 Ltd (Registered number: SC619172)

Cash Flow Statement
for the Year Ended 30 June 2023

Period
1.8.21
Year Ended to
30.6.23 30.6.22
as restated
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 398,416 (1,995,412 )
Interest paid (723 ) (99,386 )
Interest element of hire purchase or
finance lease rental payments paid

(1,257

)

-
Tax paid 635 (54,484 )
Net cash from operating activities 397,071 (2,149,282 )

Cash flows from investing activities
Purchase of tangible fixed assets (335,453 ) (63,319 )
Sale of tangible fixed assets 787,943 800,000
Interest received 126 -
Net cash from investing activities 452,616 736,681

Cash flows from financing activities
Loan repayments in year - (1,674,167 )
Amount introduced by directors 46,240 51,330
Amount withdrawn by directors (51,330 ) -
Intercompany (195,852 ) (139,715 )
- 3,115,960
Equity dividends paid (328,777 ) -
Net cash from financing activities (529,719 ) 1,353,408

Increase/(decrease) in cash and cash equivalents 319,968 (59,193 )
Cash and cash equivalents at
beginning of year

2

864,532

923,725

Cash and cash equivalents at end of
year

2

1,184,500

864,532

Scotb123 Ltd (Registered number: SC619172)

Notes to the Cash Flow Statement
for the Year Ended 30 June 2023

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
Period
1.8.21
Year Ended to
30.6.23 30.6.22
as restated
£    £   
Profit before taxation 641,463 137,829
Depreciation charges 180,630 166,238
Profit on disposal of fixed assets (458,369 ) (465,285 )
- (1,807,980 )
Finance costs 1,980 99,386
Finance income (126 ) -
365,578 (1,869,812 )
(Increase)/decrease in trade and other debtors (23,783 ) 100,101
Increase/(decrease) in trade and other creditors 56,621 (225,701 )
Cash generated from operations 398,416 (1,995,412 )

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 June 2023
30.6.23 1.7.22
£    £   
Cash and cash equivalents 1,184,500 864,532
Period ended 30 June 2022
30.6.22 1.8.21
as restated
£    £   
Cash and cash equivalents 864,532 923,725


Scotb123 Ltd (Registered number: SC619172)

Notes to the Cash Flow Statement
for the Year Ended 30 June 2023

3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.7.22 Cash flow At 30.6.23
£    £    £   
Net cash
Cash at bank and in hand 864,532 319,968 1,184,500
864,532 319,968 1,184,500
Total 864,532 319,968 1,184,500

Scotb123 Ltd (Registered number: SC619172)

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

1. STATUTORY INFORMATION

Scotb123 Ltd 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The accounts are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.

The accounts have been prepared under the historical cost convention. The principle accounting policies adopted are set out below. These policies have been consistently applied to all periods presented.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both the current and future periods.

Revenue
Revenue is recognised to the extent that is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue attributable to booking making and betting activities is recognised when a bet has concluded.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of five years.

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.

Scotb123 Ltd (Registered number: SC619172)

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

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property-Straight line over 30 years
Long leasehold-in accordance with the property
Fixtures and fittings-25% on cost
Motor vehicles-25% on cost
Computer equipment-25% on cost

Scotb123 Ltd (Registered number: SC619172)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loan from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset of liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Investments in non-derivative instruments that are equity to the issuer are measured.
- at fair value with changes recognised in the statement of comprehensive income if the shares are publicly traded or their fair value can otherwise be measured reliably;
- at cost less impairment for all other investments.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If the objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For the financial assets measured at amortised cost, the impairment loss is measured as the difference between an assets carrying amount and the present value of estimated cash flows discounted at the assets original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between and assets carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are only offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Change in fair value of derivatives are recognised in profit or loss in finance costs or income as appropriate. The company does not currently apply hedge accounting for interest rate and foreign exchange derivatives.


Scotb123 Ltd (Registered number: SC619172)

Notes to the Financial Statements - continued
for the Year Ended 30 June 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.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or 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.

Cash and cash equivalent
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short term liquid investment with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowing in current liabilities.

Provisions
Provisions are recognised where a legal or constructive obligation has been incurred which will probably lead to an outflow of resources that can be reasonably estimated. Provisions are recorded for the estimated ultimate liability that is expected to arise, considering the time value of money where material.

A contingent liability is disclosed where the existence of the obligation will only be confirmed by future events, or where the amount of the obligation cannot be measured with reasonable reliability. Contingent assets are not recognised but are disclosed where an inflow of economic benefits is probable.

Scotb123 Ltd (Registered number: SC619172)

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

2. ACCOUNTING POLICIES - continued

Going concern
The financial statements have been prepared on the going concern basis. The director believe that the company has adequate resources and support to continue to operate for the foreseeable future.

Due to the continued profitability of the business, the strength of the company's balance sheet and the nature of the company's business the directors are of the view that the company will continue as a going concern and therefore will realise its assets, liabilities and commitments in the ordinary course of business.

3. EMPLOYEES AND DIRECTORS
Period
1.8.21
Year Ended to
30.6.23 30.6.22
as restated
£    £   
Wages and salaries 1,801,624 1,725,425
Social security costs 149,174 140,912
Other pension costs 38,362 5,034
1,989,160 1,871,371

The average number of employees during the year was as follows:
Period
1.8.21
Year Ended to
30.6.23 30.6.22
as restated

Employees 87 98

Period
1.8.21
Year Ended to
30.6.23 30.6.22
as restated
£    £   
Director's remuneration - 104,454

Scotb123 Ltd (Registered number: SC619172)

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

4. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

Period
1.8.21
Year Ended to
30.6.23 30.6.22
as restated
£    £   
Hire of plant and machinery 242,028 231,383
Other operating leases 160,532 120,726
Depreciation - owned assets 118,031 108,856
Profit on disposal of fixed assets (458,369 ) (465,285 )
Goodwill amortisation 62,599 57,382
Auditors' remuneration 16,500 16,500

5. INTEREST PAYABLE AND SIMILAR EXPENSES
Period
1.8.21
Year Ended to
30.6.23 30.6.22
as restated
£    £   
Bank interest 723 36,653
Loan - 62,733
Hire purchase 1,257 -
1,980 99,386

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
Period
1.8.21
Year Ended to
30.6.23 30.6.22
as restated
£    £   
Current tax:
UK corporation tax 129,582 34,133

Deferred tax 13,165 -
Tax on profit 142,747 34,133

Scotb123 Ltd (Registered number: SC619172)

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

7. DIVIDENDS
Period
1.8.21
Year Ended to
30.6.23 30.6.22
as restated
£    £   
Ordinary shares of 1 each
Interim 328,777 -

8. PRIOR YEAR ADJUSTMENT

The financial statements for 30 June 2022 have been restated as an intercompany loan had been written off in the year incorrectly. The impact of this restatement is that the liabilities had been understated to the value of £1,307,980 resulting in a decrease in reserves of £1,307,980. The accounts have been adjusted to reflect this.

9. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2022
and 30 June 2023 312,995
AMORTISATION
At 1 July 2022 182,580
Amortisation for year 62,599
At 30 June 2023 245,179
NET BOOK VALUE
At 30 June 2023 67,816
At 30 June 2022 130,415

Scotb123 Ltd (Registered number: SC619172)

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

10. TANGIBLE FIXED ASSETS
Fixtures
Freehold Long and
property leasehold fittings
£    £    £   
COST
At 1 July 2022 1,235,903 93,823 119,002
Additions 214,105 - 32,606
Disposals (319,221 ) - -
At 30 June 2023 1,130,787 93,823 151,608
DEPRECIATION
At 1 July 2022 120,158 14,583 78,526
Charge for year 33,451 9,383 33,810
Eliminated on disposal (31,035 ) - -
At 30 June 2023 122,574 23,966 112,336
NET BOOK VALUE
At 30 June 2023 1,008,213 69,857 39,272
At 30 June 2022 1,115,745 79,240 40,476

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 July 2022 15,854 126,655 1,591,237
Additions 41,388 47,354 335,453
Disposals (41,388 ) - (360,609 )
At 30 June 2023 15,854 174,009 1,566,081
DEPRECIATION
At 1 July 2022 11,561 58,187 283,015
Charge for year 3,963 37,424 118,031
Eliminated on disposal - - (31,035 )
At 30 June 2023 15,524 95,611 370,011
NET BOOK VALUE
At 30 June 2023 330 78,398 1,196,070
At 30 June 2022 4,293 68,468 1,308,222

Scotb123 Ltd (Registered number: SC619172)

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

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
as restated
£    £   
Amounts owed by group undertakings 62,629 -
Other debtors 2,298 -
Prepayments and accrued income 134,091 112,606
199,018 112,606

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
as restated
£    £   
Trade creditors 152,528 155,639
Amounts owed to group undertakings 1,174,757 1,307,980
Tax 164,349 34,132
Social security and other taxes 229,618 264,476
Other creditors 436,457 304,780
Directors' current accounts 46,240 51,330
Accrued expenses 79,391 116,478
2,283,340 2,234,815

13. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.6.23 30.6.22
as restated
£    £   
Within one year 164,703 147,200
Between one and five years 728,110 642,025
In more than five years 439,304 330,279
1,332,117 1,119,504

14. PROVISIONS FOR LIABILITIES
30.6.23 30.6.22
as restated
£    £   
Deferred tax 29,350 16,185

Scotb123 Ltd (Registered number: SC619172)

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

14. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 July 2022 16,185
Charge to Income Statement during year 13,165
Balance at 30 June 2023 29,350

15. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.23 30.6.22
value: as restated
£    £   
10 Ordinary 1 10 10

16. RESERVES
Retained
earnings
£   

At 1 July 2022 1,472,745
Prior year adjustment (1,307,980 )
164,765
Profit for the year 498,716
Dividends (328,777 )
At 30 June 2023 334,704

17. PENSION COMMITMENTS

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

The total commitment at period end in respect of defined contribution plans is £38,362 (2022- £5,034)

18. CONTROLLING PARTY

At 30 June 2023 Scotb123 Ltd is a wholly owned subsidiary of The Redholme Group Limited.