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REGISTERED NUMBER: SC167935















E.D.C. (SCOTLAND) LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023






E.D.C. (SCOTLAND) LIMITED (REGISTERED NUMBER: SC167935)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


E.D.C. (SCOTLAND) LIMITED (REGISTERED NUMBER: SC167935)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 279,481 303,025

CURRENT ASSETS
Stocks 246,100 239,448
Debtors 5 1,584,664 1,927,478
Cash at bank and in hand 912,135 599,451
2,742,899 2,766,377
CREDITORS
Amounts falling due within one year 6 1,431,586 1,764,233
NET CURRENT ASSETS 1,311,313 1,002,144
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,590,794

1,305,169

CREDITORS
Amounts falling due after more than one
year

7

(171,541

)

(265,442

)

PROVISIONS FOR LIABILITIES (68,155 ) (72,661 )
NET ASSETS 1,351,098 967,066

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,350,998 966,966
1,351,098 967,066

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.

E.D.C. (SCOTLAND) LIMITED (REGISTERED NUMBER: SC167935)

BALANCE SHEET - continued
31 DECEMBER 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 March 2024 and were signed on its behalf by:





N M Brown - Director


E.D.C. (SCOTLAND) LIMITED (REGISTERED NUMBER: SC167935)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

E.D.C. (Scotland) Limited is a private company, limited by shares, registered in Scotland. The company's registered office is Kilpatrick Drive, Erskine, Renfrewshire, PA8 7AF.

The presentation currency of the financial statements is Sterling (£).

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. There were no material departures from this standard. The financial statements have been prepared under the historical cost convention.

Judgements
The company considers on an annual basis the judgements that are made by management when applying its significant accounting policies that would have the most significant effect on amounts that are recognised in the financial statements.

The directors consider there are no such significant judgements.

Turnover
Turnover represents the invoice value of services and goods, excluding value added tax, provided during the year. The company's policy is to recognise a sale when all the risks and rewards in connection with the services and goods have been passed to the purchaser.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 20% on cost and 10% on cost

Tangible fixed assets are included at cost less accumulated depreciation and accumulated impairment losses.

Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like plant and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount which is the higher of value in use and the fair value less cost to sell, is estimated and compared with the carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit and loss.

Government grants
Government grants relating to revenue expenditure are recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. Grants that become receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs shall be recognised in income in the period in which it becomes receivable.

Stocks
Stocks and work in progress are valued at the lower of cost and estimated selling price less costs to complete and sell.

E.D.C. (SCOTLAND) LIMITED (REGISTERED NUMBER: SC167935)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and loans to related parties.

Debt instruments like loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and trade creditors, are measured, initially and subsequently, at the undiscounted amount of cash or other consideration expected to be paid or received.

Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for evidence of impairment and if found, an impairment loss is recognised in profit or loss.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.

Taxation
Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in the periods in which the timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

With the exception of changes arising on the initial recognition of a business combination, the tax expense is presented either in profit or loss, other comprehensive income or statement of changes in equity depending on the transaction that resulted in the tax expense.

Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

E.D.C. (SCOTLAND) LIMITED (REGISTERED NUMBER: SC167935)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Provisions
Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated. Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2022 - 23 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 617,475
Additions 80,156
Disposals (19,445 )
At 31 December 2023 678,186
DEPRECIATION
At 1 January 2023 314,450
Charge for year 101,756
Eliminated on disposal (17,501 )
At 31 December 2023 398,705
NET BOOK VALUE
At 31 December 2023 279,481
At 31 December 2022 303,025

Included above is £184,774 (2022: £229,045) carrying value of assets for which the company has pledged as security.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 961,579 1,523,672
Other debtors 623,085 403,806
1,584,664 1,927,478

E.D.C. (SCOTLAND) LIMITED (REGISTERED NUMBER: SC167935)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 52,897 50,722
Hire purchase contracts 63,530 61,647
Trade creditors 621,905 906,655
Taxation and social security 319,619 231,515
Other creditors 373,635 513,694
1,431,586 1,764,233

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 69,275 122,155
Hire purchase contracts 102,266 143,287
171,541 265,442

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 165,796 204,934

Hire purchase liabilities are secured against the assets to which they relate.

9. OTHER FINANCIAL COMMITMENTS

E.D.C. (Scotland) Limited has provided the lender with a floating charge in respect of a bank loan to the parent company, EDC Integrated Limited (previously known as TQI (Scotland) Limited). At 31 December 2023, the loan balance outstanding was £109,961 (2022: £119,326).

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
N M Brown
Balance outstanding at start of year - -
Amounts advanced 119,305 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 119,305 -

E.D.C. (SCOTLAND) LIMITED (REGISTERED NUMBER: SC167935)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

S W Sutton
Balance outstanding at start of year - -
Amounts advanced 62,000 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 62,000 -

The amounts due were interest free and repaid after the year end.

11. ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of EDC Integrated Limited (previously known as TQI (Scotland) Limited). The registered office of EDC Integrated Limited is Caledonia House, 89 Seaward Street, Glasgow, Scotland, G41 1HJ.

12. OPERATING LEASES

The total amount due under non-cancellable operating leases at the balance sheet date amounted to £65,932 (2022 - £66,723).