Company Registration No. SC354768 (Scotland)
STCS (SCOTLAND) LTD
Unaudited accounts
for the year ended 31 January 2024
STCS (SCOTLAND) LTD
Unaudited accounts
Contents
STCS (SCOTLAND) LTD
Company Information
for the year ended 31 January 2024
Directors
Allan Thompson
Garry Thompson
Company Number
SC354768 (Scotland)
Registered Office
UNIT 14 MURRAY COURT
ARGYLE CRESCENT HILLHOUSE INDUSTRIAL EST
HAMILTON
LANARKSHIRE
ML3 9BQ
Accountants
Mark Gray Ltd
76 Busby Road
Clarkston
Glasgow
G76 7AU
STCS (SCOTLAND) LTD
Statement of financial position
as at 31 January 2024
Tangible assets
3,584
7,167
Debtors
1,849,620
1,693,260
Cash at bank and in hand
226,286
16,067
Creditors: amounts falling due within one year
(1,294,373)
(982,302)
Net current assets
781,533
727,025
Total assets less current liabilities
785,117
734,192
Creditors: amounts falling due after more than one year
(160,960)
(254,085)
Net assets
624,157
480,107
Called up share capital
200
200
Profit and loss account
623,957
479,907
Shareholders' funds
624,157
480,107
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 4 September 2024 and were signed on its behalf by
Allan Thompson
Director
Company Registration No. SC354768
STCS (SCOTLAND) LTD
Notes to the Accounts
for the year ended 31 January 2024
STCS (SCOTLAND) LTD is a private company, limited by shares, registered in Scotland, registration number SC354768. The registered office is UNIT 14 MURRAY COURT, ARGYLE CRESCENT HILLHOUSE INDUSTRIAL EST, HAMILTON, LANARKSHIRE, ML3 9BQ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
These financial statements have been prepared in accordance with FRS102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of Section 1A of FRS 201 have been applied other than where additional disclosure ir required to show a true and fair view.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives.
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% SL
Inventories are stated at the lower of cost and estimated selling price less costs to complete the sale. Cost comprises direct materials and where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Inventories held for distribution at no or nominal consideration, are measured at the lower of replacement cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of inventories over its estimated selling price less costs to complete is recognised as an impairment loss in the profit and loss. Reversals of impairment losses are also recognised in the profit and loss.
STCS (SCOTLAND) LTD
Notes to the Accounts
for the year ended 31 January 2024
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company has elected to apply the provisions of Section 11 "Basic Financial Instruments" and Section 12 "Other Financial Instruments Issues" of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of instruments.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
4
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 February 2023
14,333
7,190
7,414
28,937
At 31 January 2024
14,333
7,190
7,414
28,937
At 1 February 2023
7,166
7,190
7,414
21,770
Charge for the year
3,583
-
-
3,583
At 31 January 2024
10,749
7,190
7,414
25,353
At 31 January 2024
3,584
-
-
3,584
At 31 January 2023
7,167
-
-
7,167
Amounts falling due within one year
Trade debtors
1,212,173
1,271,088
Amounts falling due after more than one year
Trade debtors
352,716
174,993
STCS (SCOTLAND) LTD
Notes to the Accounts
for the year ended 31 January 2024
6
Creditors: amounts falling due within one year
2024
2023
Trade creditors
782,912
480,335
Taxes and social security
499,541
435,590
Other creditors
11,920
12,177
Loans from directors
-
54,200
7
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
160,960
254,085
Allotted, called up and fully paid:
100 Mr Allan Thompson of £1 each
100
100
100 Mr Garry Thompson of £1 each
100
100
9
Operating lease commitments
2024
2023
At 31 January 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Later than one year and not later than five years
53,631
47,375
10
Transactions with related parties
During the year, no dividends were issued.
The company was controlled by its directors throughout the year.
12
Average number of employees
During the year the average number of employees was 8 (2023: 14).