0 false false false false false false false false false true false false false false false false No description of principal activity 2022-09-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP SC039073 2022-09-01 2023-08-30 SC039073 2023-08-30 SC039073 2022-08-31 SC039073 2021-09-01 2022-08-31 SC039073 2022-08-31 SC039073 2021-08-31 SC039073 core:PlantMachinery 2022-09-01 2023-08-30 SC039073 bus:Director1 2022-09-01 2023-08-30 SC039073 core:PlantMachinery 2022-08-31 SC039073 core:WithinOneYear 2023-08-30 SC039073 core:WithinOneYear 2022-08-31 SC039073 core:ShareCapital 2023-08-30 SC039073 core:ShareCapital 2022-08-31 SC039073 core:RetainedEarningsAccumulatedLosses 2023-08-30 SC039073 core:RetainedEarningsAccumulatedLosses 2022-08-31 SC039073 core:PlantMachinery 2022-08-31 SC039073 bus:Director1 2022-08-31 SC039073 bus:Director1 2023-08-30 SC039073 bus:Director1 2021-08-31 SC039073 bus:Director1 2022-08-31 SC039073 bus:Director1 2021-09-01 2022-08-31 SC039073 bus:SmallEntities 2022-09-01 2023-08-30 SC039073 bus:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-30 SC039073 bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-30 SC039073 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-30 SC039073 bus:FullAccounts 2022-09-01 2023-08-30
COMPANY REGISTRATION NUMBER: SC039073
Scientific Services (Paisley) Limited
Filleted Unaudited Financial Statements
30 August 2023
Scientific Services (Paisley) Limited
Statement of Financial Position
30 August 2023
30 Aug 23
31 Aug 22
Note
£
£
£
Fixed assets
Tangible assets
4
1,918
Current assets
Stocks
3,425
3,575
Debtors
5
33,139
288,876
Cash at bank and in hand
16,020
--------
---------
36,564
308,471
Creditors: amounts falling due within one year
6
36,431
36,766
--------
---------
Net current assets
133
271,705
----
---------
Total assets less current liabilities
133
273,623
Provisions
Taxation including deferred tax
398
----
---------
Net assets
133
273,225
----
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
33
273,125
----
---------
Shareholders funds
133
273,225
----
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the period ending 30 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Scientific Services (Paisley) Limited
Statement of Financial Position (continued)
30 August 2023
These financial statements were approved by the board of directors and authorised for issue on 10 June 2024 , and are signed on behalf of the board by:
R Smith Esq
Director
Company registration number: SC039073
Scientific Services (Paisley) Limited
Notes to the Financial Statements
Period from 1 September 2022 to 30 August 2023
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 2 Touch Wards, Dunfermline, Fife, KY12 7TG.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Judgements and key sources of estimation uncertainty
No significant judgements have been made by the director in preparing these financial statements.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
15% reducing balance
Equipment
-
15% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
4. Tangible assets
Plant and machinery
Equipment
Total
£
£
£
Cost
At 1 September 2022
21,901
659
22,560
Disposals
( 21,901)
( 659)
( 22,560)
--------
----
--------
At 30 August 2023
--------
----
--------
Depreciation
At 1 September 2022
19,989
653
20,642
Disposals
( 19,989)
( 653)
( 20,642)
--------
----
--------
At 30 August 2023
--------
----
--------
Carrying amount
At 30 August 2023
--------
----
--------
At 31 August 2022
1,912
6
1,918
--------
----
--------
5. Debtors
30 Aug 23
31 Aug 22
£
£
Trade debtors
33,139
288,876
--------
---------
6. Creditors: amounts falling due within one year
30 Aug 23
31 Aug 22
£
£
Bank loans and overdrafts
14,880
18,115
Trade creditors
9,366
7,529
Social security and other taxes
4,449
4,370
Other creditors
7,736
6,752
--------
--------
36,431
36,766
--------
--------
7. Directors' advances, credits and guarantees
During the period the directors entered into the following advances and credits with the company:
30 Aug 23
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
R Smith Esq
( 2,888)
( 962)
( 3,850)
-------
----
-------
31 Aug 22
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
R Smith Esq
( 1,956)
( 932)
( 2,888)
-------
----
-------
8. Controlling party
The company was controlled throughout the year by Smith Brothers Marine Limited. Smith Brothers Marine Limited owns one hundred per cent of the issued share capital.