NUTRISCOT LTD.

Company Registration Number:
SC302822 (Scotland)

Unaudited abridged accounts for the year ended 31 May 2024

Period of accounts

Start date: 01 June 2023

End date: 31 May 2024

NUTRISCOT LTD.

Contents of the Financial Statements

for the Period Ended 31 May 2024

Company Information - 3
Balance sheet - 4
Additional notes - 6
Balance sheet notes - 10

NUTRISCOT LTD.

Company Information

for the Period Ended 31 May 2024




Registered office: 16
Chapelpark Road
Ayr
GB-SCT
KA7 2TZ
Company Registration Number: SC302822 (Scotland)

NUTRISCOT LTD.

Balance sheet

As at 31 May 2024


Notes

2024
£

2023
£
Fixed assets
Intangible assets: 4 0 0
Tangible assets: 5 1,833 1
Total fixed assets: 1,833 1
Current assets
Stocks: 5,024 3,232
Debtors: 990,083 1,005,154
Cash at bank and in hand: 66,441 185,732
Total current assets: 1,061,548 1,194,118
Creditors: amounts falling due within one year: 6 ( 749,618 ) ( 872,960 )
Net current assets (liabilities): 311,930 321,158
Total assets less current liabilities: 313,763 321,159
Total net assets (liabilities): 313,763 321,159

The notes form part of these financial statements

NUTRISCOT LTD.

Balance sheet continued

As at 31 May 2024


Notes

2024
£

2023
£
Capital and reserves
Called up share capital: 102 102
Profit and loss account: 313,661 321,057
Shareholders funds: 313,763 321,159

For the year ending 31 May 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 20 August 2024
And Signed On Behalf Of The Board By:

Name: Andrew Hutton
Status: Director

The notes form part of these financial statements

NUTRISCOT LTD.

Notes to the Financial Statements

for the Period Ended 31 May 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

    Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

    Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

    Plant and machinery 33.33% straight line
    Computer equipment 33.33% straight line

    The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

    Intangible fixed assets amortisation policy

    Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which was ten years. Goodwill has now been fully amortised.

NUTRISCOT LTD.

Notes to the Financial Statements

for the Period Ended 31 May 2024

  • 1. Accounting policies (continued)

    Valuation information and policy

    At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
    Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

    If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

    Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

    Other accounting policies

    Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

NUTRISCOT LTD.

Notes to the Financial Statements

for the Period Ended 31 May 2024

  • 2. Employees


    2024

    2023
    Average number of employees during the period 2 2

NUTRISCOT LTD.

Notes to the Financial Statements

for the Period Ended 31 May 2024

  • 3. Off balance sheet disclosure

    No

NUTRISCOT LTD.

Notes to the Financial Statements

for the Period Ended 31 May 2024

  • 4. Intangible assets

    Total
    Cost £
    At 01 June 2023 215,000
    Additions -
    Disposals -
    Revaluations -
    Transfers -
    At 31 May 2024 215,000
    Amortisation
    Amortisation at 01 June 2023 215,000
    Charge for year -
    On disposals -
    Other adjustments -
    Amortisation at 31 May 2024 215,000
    Net book value
    Net book value at 31 May 2024 0
    Net book value at 31 May 2023 0

NUTRISCOT LTD.

Notes to the Financial Statements

for the Period Ended 31 May 2024

5. Tangible Assets

Total
Cost £
At 01 June 2023 5,691
Additions 2,748
Disposals -
Revaluations -
Transfers -
At 31 May 2024 8,439
Depreciation
At 01 June 2023 5,690
Charge for year 916
On disposals -
Other adjustments -
At 31 May 2024 6,606
Net book value
At 31 May 2024 1,833
At 31 May 2023 1

NUTRISCOT LTD.

Notes to the Financial Statements

for the Period Ended 31 May 2024

6. Creditors: amounts falling due within one year note

Trade creditors £513,439 (2023-£651,904)
Taxation and social security £33,649 (2023-£30,456)
Other creditors £202,530 (2023-£190,600)

NUTRISCOT LTD.

Notes to the Financial Statements

for the Period Ended 31 May 2024

7.1.Related party disclosures

Name of related party: Andrew and Heather Hutton
Description of relationship:
Directors and shareholders
Description of the transaction:
Interest free loans to the company which are repayable on demand
Balance at 01 June 2023 184,921
Balance at 31 May 2024 196,921