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Unaudited Financial Statements for the Year Ended 30 April 2024

for

Scotia Plastics Ltd

Scotia Plastics Ltd (Registered number: SC372619)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Scotia Plastics Ltd

Company Information
for the Year Ended 30 April 2024







DIRECTORS: C M Thomson
Miss A Thomson
S Thomson





SECRETARY:





REGISTERED OFFICE: Stuarthall Cottage
Fallin Road
Fallin
Stirlingshire
FK7 7LU





REGISTERED NUMBER: SC372619 (Scotland)





ACCOUNTANTS: LMC Accountants Ltd
Chartered Accountants
73 Stirling Business Centre
Wellgreen Place
Stirling
FK8 2DZ

Scotia Plastics Ltd (Registered number: SC372619)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 26,060 30,578

CURRENT ASSETS
Stocks 113,449 100,106
Debtors 5 11,373 8,379
Cash at bank and in hand 30,688 18,367
155,510 126,852
CREDITORS
Amounts falling due within one year 6 59,788 65,879
NET CURRENT ASSETS 95,722 60,973
TOTAL ASSETS LESS CURRENT
LIABILITIES

121,782

91,551

CREDITORS
Amounts falling due after more than one year 7 - 1,806
NET ASSETS 121,782 89,745

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings 9 121,781 89,744
SHAREHOLDERS' FUNDS 121,782 89,745

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 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.

Scotia Plastics Ltd (Registered number: SC372619)

Balance Sheet - continued
30 April 2024


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 6 August 2024 and were signed on its behalf by:





C M Thomson - Director


Scotia Plastics Ltd (Registered number: SC372619)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Scotia Plastics 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

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 etc - 25% on reducing balance

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 1 ) .

Scotia Plastics Ltd (Registered number: SC372619)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023 57,003
Additions 4,166
At 30 April 2024 61,169
DEPRECIATION
At 1 May 2023 26,425
Charge for year 8,684
At 30 April 2024 35,109
NET BOOK VALUE
At 30 April 2024 26,060
At 30 April 2023 30,578

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 11,373 8,379

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Hire purchase contracts 1,806 4,130
Trade creditors 31,713 34,850
Taxation and social security 24,254 8,727
Other creditors 2,015 18,172
59,788 65,879

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Hire purchase contracts - 1,806

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
1 Ordinary £1 1 1

Scotia Plastics Ltd (Registered number: SC372619)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

9. RESERVES
Retained
earnings
£   

At 1 May 2023 89,744
Profit for the year 65,567
Dividends (33,530 )
At 30 April 2024 121,781

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2024 and 30 April 2023:

30.4.24 30.4.23
£    £   
C M Thomson
Balance outstanding at start of year (16,222 ) (20,121 )
Amounts advanced 16,217 3,899
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (5 ) (16,222 )

11. ULTIMATE CONTROLLING PARTY

The controlling party is C M Thomson.