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REGISTERED NUMBER: SC375372 (Scotland)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

FIDELIS SCOTLAND LIMITED

FIDELIS SCOTLAND LIMITED (REGISTERED NUMBER: SC375372)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Certified Accountants' Report 6

FIDELIS SCOTLAND LIMITED

COMPANY INFORMATION
for the Year Ended 31 March 2024







DIRECTORS: Mr W Gordon
Ms J Gordon





REGISTERED OFFICE: Colleonard House
Banff
Aberdeenshire
AB45 3TP





REGISTERED NUMBER: SC375372 (Scotland)





ACCOUNTANTS: Acumen Accountants and Advisors Limited
Unit 1, Office 1 & 8
Blackhall Industrial Estate
Burghmuir Circle
Inverurie
Aberdeenshire
AB51 4FS

FIDELIS SCOTLAND LIMITED (REGISTERED NUMBER: SC375372)

BALANCE SHEET
31 March 2024

2024 2023
as restated
Notes £    £   
CURRENT ASSETS
Stocks 330,419 414,570
Debtors 6 822,611 1,992,499
Cash at bank and in hand 1,021,731 1,079,298
2,174,761 3,486,367
CREDITORS
Amounts falling due within one year 7 993,802 1,333,617
NET CURRENT ASSETS 1,180,959 2,152,750
TOTAL ASSETS LESS CURRENT LIABILITIES 1,180,959 2,152,750

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,180,859 2,152,650
SHAREHOLDERS' FUNDS 1,180,959 2,152,750

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

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 7 October 2024 and were signed on its behalf by:





Mr W Gordon - Director


FIDELIS SCOTLAND LIMITED (REGISTERED NUMBER: SC375372)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Fidelis Scotland Limited 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.

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


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

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 is stated net of VAT and trade discounts. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Where the contract has only been partially completed at the balance sheet date turnover represents the value of the service provided to date based on a proportion of the total contract value. Where payments are received from customers in advance of services provided, the amounts are recorded as Deferred Income and included as part of Creditors due within one year.

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 - 100% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other debtors and cash and bank balances are measured at transaction price including transaction costs.

Financial assets are derecognised when the contractual rights to cash flows from the asset expire or are settled or when the company transfers the risks and rewards of ownership to another entity.

Basic financial liabilities

Basic financial liabilities, which include trade and other creditors and bank loans are recognised at transaction price.

Financial liabilities are derecognised when the company's contractual obligations are discharged.

Taxation
Taxation for the year/period 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.

FIDELIS SCOTLAND LIMITED (REGISTERED NUMBER: SC375372)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

3. ACCOUNTING POLICIES - continued

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.

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.

Redeemable preference shares
Preference shares issued that carry a mandatory redemption at a future date where cash is to be delivered, are recognised as financial liabilities on the Balance Sheet of the financial statements. Where preference shares issued do not have a fixed redemption date they are recognised as a financial liability due for redemption within 1 year.

Preference share dividends are recognised as finance costs in the Profit and Loss account.

4. EMPLOYEES AND DIRECTORS

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

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 April 2023 46,693 2,706 3,977 53,376
Additions 14,625 - - 14,625
Disposals (32,760 ) - (1,373 ) (34,133 )
At 31 March 2024 28,558 2,706 2,604 33,868
DEPRECIATION
At 1 April 2023 46,693 2,706 3,977 53,376
Charge for year 14,625 - - 14,625
Eliminated on disposal (32,760 ) - (1,373 ) (34,133 )
At 31 March 2024 28,558 2,706 2,604 33,868
NET BOOK VALUE
At 31 March 2024 - - - -
At 31 March 2023 - - - -

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Trade debtors 830,907 1,932,232
Provision for bad debts (46,495 ) -
VAT 36,666 60,267
Prepayments 1,533 -
822,611 1,992,499

FIDELIS SCOTLAND LIMITED (REGISTERED NUMBER: SC375372)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Preference shares 400,000 500,000
Trade creditors 433,619 566,833
Tax 148,916 203,627
Directors' current accounts 108 -
Accrued expenses 11,159 63,157
993,802 1,333,617

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
as restated
£    £   
Ms J Gordon
Balance outstanding at start of year - -
Amounts advanced (108 ) -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (108 ) -

These amounts bear no interest and have no fixed repayment terms.

9. ULTIMATE CONTROLLING PARTY

The company is under control of J Gordon by virtue of her 100% ownership of the issued share capital in the company's parent Fidelis International Holdings Limited.

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
FIDELIS SCOTLAND LIMITED (REGISTERED NUMBER: SC375372)

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Fidelis Scotland Limited for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Fidelis Scotland Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Fidelis Scotland Limited and state those matters that we have agreed to state to the Board of Directors of Fidelis Scotland Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Fidelis Scotland Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Fidelis Scotland Limited. You consider that Fidelis Scotland Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Fidelis Scotland Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Acumen Accountants and Advisors Limited
Unit 1, Office 1 & 8
Blackhall Industrial Estate
Burghmuir Circle
Inverurie
Aberdeenshire
AB51 4FS


7 October 2024