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REGISTERED NUMBER: SC672220 (Scotland)















Unaudited Financial Statements for the Year Ended 31 August 2023

for

SCORSA LIMITED

SCORSA LIMITED (REGISTERED NUMBER: SC672220)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 AUGUST 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SCORSA LIMITED

Company Information
FOR THE YEAR ENDED 31 AUGUST 2023







DIRECTORS: G R Beaton
Mrs N Brice-Bruce





REGISTERED OFFICE: 1st Floor, 5 Abercrombie Court
Arnhall Business Park
Prospect Road
Westhill
Aberdeenshire
AB32 6FE





REGISTERED NUMBER: SC672220 (Scotland)





ACCOUNTANTS: Fyfe Moir & Associates
1st Floor, 5 Abercrombie Crt
Prospect Road,
Westhill
Aberdeenshire
Grampian
AB32 6FE

SCORSA LIMITED (REGISTERED NUMBER: SC672220)

Balance Sheet
31 AUGUST 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 4,000 4,500
Tangible assets 5 55,703 68,159
59,703 72,659

CURRENT ASSETS
Stocks 5,316 5,316
Debtors 6 4,830 5,935
Cash at bank and in hand 38,102 48,768
48,248 60,019
CREDITORS
Amounts falling due within one year 7 148,938 157,009
NET CURRENT LIABILITIES (100,690 ) (96,990 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(40,987

)

(24,331

)

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (40,989 ) (24,333 )
SHAREHOLDERS' FUNDS (40,987 ) (24,331 )

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

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

The directors acknowledge their 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.

SCORSA LIMITED (REGISTERED NUMBER: SC672220)

Balance Sheet - continued
31 AUGUST 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 Board of Directors and authorised for issue on 26 August 2024 and were signed on its behalf by:




G R Beaton - Director



Mrs N Brice-Bruce - Director


SCORSA LIMITED (REGISTERED NUMBER: SC672220)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 AUGUST 2023

1. STATUTORY INFORMATION

SCORSA 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

Going concern
Although technically insolvent, the company is being supported by the directors and loans.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of ten 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.

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 - 25% on cost
Fixtures and fittings - 25% on cost
Computer equipment - 20% on cost

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

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.

SCORSA LIMITED (REGISTERED NUMBER: SC672220)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 AUGUST 2023

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2022
and 31 August 2023 5,000
AMORTISATION
At 1 September 2022 500
Amortisation for year 500
At 31 August 2023 1,000
NET BOOK VALUE
At 31 August 2023 4,000
At 31 August 2022 4,500

SCORSA LIMITED (REGISTERED NUMBER: SC672220)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 AUGUST 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Computer
leasehold machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 September 2022 1,327 75,973 648 5,787 83,735
Additions - 8,245 - 237 8,482
At 31 August 2023 1,327 84,218 648 6,024 92,217
DEPRECIATION
At 1 September 2022 - 14,921 54 601 15,576
Charge for year - 19,603 162 1,173 20,938
At 31 August 2023 - 34,524 216 1,774 36,514
NET BOOK VALUE
At 31 August 2023 1,327 49,694 432 4,250 55,703
At 31 August 2022 1,327 61,052 594 5,186 68,159

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade debtors 1,860 -
Other debtors 120 -
Prepayments 2,850 5,935
4,830 5,935

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Other loans 32,643 70,000
Trade creditors 31,797 33,513
Social security and other taxes 2,900 3,804
VAT 33,196 27,856
Other creditors 4,109 3,746
Directors' current accounts 34,024 2,088
Accrued expenses 10,269 16,002
148,938 157,009