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REGISTERED NUMBER: SC355888 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Diatech Scotland Ltd

Diatech Scotland Ltd (Registered number: SC355888)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


Diatech Scotland Ltd (Registered number: SC355888)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £   
FIXED ASSETS
Intangible assets 4 1 1
Tangible assets 5 64,292 12,505
64,293 12,506

CURRENT ASSETS
Stocks 673,780 937,776
Debtors 6 1,689,197 471,947
Cash at bank and in hand 116,535 865,274
2,479,512 2,274,997
CREDITORS
Amounts falling due within one year 7 (273,326 ) (376,441 )
NET CURRENT ASSETS 2,206,186 1,898,556
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,270,479

1,911,062

PROVISIONS FOR LIABILITIES (11,838 ) -
NET ASSETS 2,258,641 1,911,062

CAPITAL AND RESERVES
Called up share capital 100 100
Capital redemption reserve 100 100
Retained earnings 2,258,441 1,910,862
SHAREHOLDERS' FUNDS 2,258,641 1,911,062

Diatech Scotland Ltd (Registered number: SC355888)

Balance Sheet - continued
31 December 2023


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 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.

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 11 June 2024 and were signed on its behalf by:





Mr E Soulsby - Director


Diatech Scotland Ltd (Registered number: SC355888)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Diatech Scotland Ltd is a private company, limited by shares, domiciled in Scotland, registration number SC355888. The registered office is Target House, Ruthvenfield Road, Inveralmond Industrial Estate, Perth, PH1 3EE.

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.

Preparation of consolidated financial statements
The financial statements contain information about Diatech Scotland Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents net invoiced sales of goods and services in respect of the wholesale of precision machine tools, excluding value added tax. Sales are recognised at the point at which the goods are delivered or the service is complete.

Tangible fixed assets and depreciation
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 reducing balance
Motor vehicles - 25% on reducing balance
Equipment - 25% on reducing balance

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is represented by purchase price.

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.


Diatech Scotland Ltd (Registered number: SC355888)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
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.

Provisions
Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 1
NET BOOK VALUE
At 31 December 2023 1
At 31 December 2022 1

Diatech Scotland Ltd (Registered number: SC355888)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Equipment Totals
£    £    £    £   
COST
At 1 January 2023 14,749 12,200 105,541 132,490
Additions - 31,000 37,684 68,684
Disposals - - (12,370 ) (12,370 )
At 31 December 2023 14,749 43,200 130,855 188,804
DEPRECIATION
At 1 January 2023 13,582 1,017 105,386 119,985
Charge for year 1,167 7,317 8,413 16,897
Eliminated on disposal - - (12,370 ) (12,370 )
At 31 December 2023 14,749 8,334 101,429 124,512
NET BOOK VALUE
At 31 December 2023 - 34,866 29,426 64,292
At 31 December 2022 1,167 11,183 155 12,505

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 252,556 328,693
Amounts owed by group undertakings 1,383,817 121,720
Other debtors 52,824 21,534
1,689,197 471,947

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 29,613 82,460
Amounts owed to associates 9,675 689
Taxation and social security 219,241 290,699
Other creditors 14,797 2,593
273,326 376,441

8. ULTIMATE PARENT COMPANY

The ultimate parent company is Diatech Holdings Ltd, a company incorporated in Scotland having its registered office at Apex House, Ruthvenfield Road, Inveralmond Industrial Estate, Perth, PH1 3EE.