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REGISTERED NUMBER: SC394628 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

SCOTRACK LTD

SCOTRACK LTD (REGISTERED NUMBER: SC394628)






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


SCOTRACK LTD

COMPANY INFORMATION
for the Year Ended 31 March 2024







DIRECTOR: C P Biggar





REGISTERED OFFICE: 9 Glasgow Road
Paisley
Renfrewshire
PA1 3QS





REGISTERED NUMBER: SC394628 (Scotland)





ACCOUNTANTS: John M Taylor & Co
Chartered Accountants
9 Glasgow Road
PAISLEY
Renfrewshire
PA1 3QS

SCOTRACK LTD (REGISTERED NUMBER: SC394628)

BALANCE SHEET
31 March 2024

31.3.23 31.3.24
£    £    Notes £    £   
FIXED ASSETS
66,935 Tangible assets 5 47,296

CURRENT ASSETS
42,000 Stocks 8,500
1,486,100 Debtors 6 1,779,146
188,883 Cash at bank 69,123
1,716,983 1,856,769
CREDITORS
254,768 Amounts falling due within one year 7 292,531
1,462,215 NET CURRENT ASSETS 1,564,238
1,529,150 TOTAL ASSETS LESS CURRENT
LIABILITIES

1,611,534

13,659 PROVISIONS FOR LIABILITIES 11,082
1,515,491 NET ASSETS 1,600,452

CAPITAL AND RESERVES
1 Called up share capital 8 1
1,515,490 Retained earnings 1,600,451
1,515,491 SHAREHOLDERS' FUNDS 1,600,452

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 director acknowledges his 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 director and authorised for issue on 18 October 2024 and were signed by:



C P Biggar - Director


SCOTRACK LTD (REGISTERED NUMBER: SC394628)

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

1. STATUTORY INFORMATION

Scotrack 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.

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 significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Turnover
Turnover represents the total of sales less credit notes and discounts given, excluding value added tax.

Income is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.

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.
Plant & machinery - 25% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Tangible fixed assets held for the companies own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any.

Stocks
Stocks consist of goods for resale and are valued at the lower of purchase cost and estimated selling price less costs to sell, after making due allowances for obsolete and slow moving items.


SCOTRACK LTD (REGISTERED NUMBER: SC394628)

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

3. ACCOUNTING POLICIES - continued
Taxation
Taxation represents the sum of tax currently payable and deferred tax on a non discounted basis.

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.

Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period which the liability is settled or the asset is realised,
based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

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.

Financial instruments
Basic financial instruments are recognised at amortised cost. Financial assets and liabilities are recognised when the company becomes a party to the contractual provisions of the instrument and are classified in accordance with their underlying economic reality.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised as a liability in the financial statements in the period in which the dividends are approved by the shareholders. These amounts are recognised in the statement of changes in equity.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 4 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
Plant & and Motor Computer
Totals machinery fittings vehicles equipment
£    £    £    £    £   
COST
At 1 April 2023 121,643 58,944 758 57,924 4,017
Disposals (1,585 ) (490 ) - - (1,095 )
At 31 March 2024 120,058 58,454 758 57,924 2,922
DEPRECIATION
At 1 April 2023 54,708 36,067 758 14,481 3,402
Charge for year 19,640 8,471 - 10,861 308
Eliminated on disposal (1,586 ) (490 ) - - (1,096 )
At 31 March 2024 72,762 44,048 758 25,342 2,614
NET BOOK VALUE
At 31 March 2024 47,296 14,406 - 32,582 308
At 31 March 2023 66,935 22,877 - 43,443 615

SCOTRACK LTD (REGISTERED NUMBER: SC394628)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 81,288 228,896
Other debtors 1,697,858 1,257,204
1,779,146 1,486,100

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 50,099 109,850
Taxation and social security 102,112 140,235
Other creditors 140,320 4,683
292,531 254,768

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
1 Ordinary £1 1 1

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

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

31.3.24 31.3.23
£    £   
C P Biggar
Balance outstanding at start of year 16,241 2,147
Amounts advanced - 14,094
Amounts repaid (16,241 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 16,241

The loan has no fixed repayment date. Interest is charged at 2.5% p.a.

10. RELATED PARTY DISCLOSURES

A balance of £1,697,052 (2023 - £1,239,052), included within Other Debtors, is due from a company that the director is also a director of. No interest is receivable on this balance and there is no fixed repayment date .

There is an amount due to the director of £136,837 (2023 - £NIL) included in Other Creditors
This amount due is interest free and has no fixed repayment date.

11. ULTIMATE CONTROLLING PARTY

The controlling party is C P Biggar.