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REGISTERED NUMBER: SC375669 (Scotland)















Unaudited Financial Statements for the Year Ended 31st March 2024

for

SELECT CONTRACTS (SCOTLAND) LIMITED

SELECT CONTRACTS (SCOTLAND) LIMITED (REGISTERED NUMBER: SC375669)






Contents of the Financial Statements
for the Year Ended 31st March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SELECT CONTRACTS (SCOTLAND) LIMITED

Company Information
for the Year Ended 31st March 2024







DIRECTORS: S Currier
G Scott



SECRETARY: G Scott



REGISTERED OFFICE: 24 School Road
Morningside
Wishaw
ML2 9QW



REGISTERED NUMBER: SC375669 (Scotland)



ACCOUNTANTS: Pecuniae Limited
10 Abercorn Drive
Hamilton
ML3 7EX



BANKERS: Bank of Scotland
167-201 Argyle Street
Glasgow
G2 8BU

SELECT CONTRACTS (SCOTLAND) LIMITED (REGISTERED NUMBER: SC375669)

Balance Sheet
31st March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 63,000 73,500
Tangible assets 5 16,243 6,062
79,243 79,562

CURRENT ASSETS
Debtors 6 90,834 78,881
Cash at bank 111,217 28,605
202,051 107,486
CREDITORS
Amounts falling due within one year 7 149,058 122,426
NET CURRENT ASSETS/(LIABILITIES) 52,993 (14,940 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

132,236

64,622

CREDITORS
Amounts falling due after more than one
year

8

(11,667

)

(21,667

)

PROVISIONS FOR LIABILITIES (4,061 ) (1,152 )
NET ASSETS 116,508 41,803

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 116,408 41,703
SHAREHOLDERS' FUNDS 116,508 41,803

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

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

SELECT CONTRACTS (SCOTLAND) LIMITED (REGISTERED NUMBER: SC375669)

Balance Sheet - continued
31st March 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 9th August 2024 and were signed on its behalf by:





S Currier - Director


SELECT CONTRACTS (SCOTLAND) LIMITED (REGISTERED NUMBER: SC375669)

Notes to the Financial Statements
for the Year Ended 31st March 2024

1. STATUTORY INFORMATION

Select Contracts (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.

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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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.

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.

SELECT CONTRACTS (SCOTLAND) LIMITED (REGISTERED NUMBER: SC375669)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st April 2023
and 31st March 2024 210,000
AMORTISATION
At 1st April 2023 136,500
Charge for year 10,500
At 31st March 2024 147,000
NET BOOK VALUE
At 31st March 2024 63,000
At 31st March 2023 73,500

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st April 2023 28,050
Additions 17,540
Disposals (10,650 )
At 31st March 2024 34,940
DEPRECIATION
At 1st April 2023 21,988
Charge for year 5,899
Eliminated on disposal (9,190 )
At 31st March 2024 18,697
NET BOOK VALUE
At 31st March 2024 16,243
At 31st March 2023 6,062

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 74,566 75,012
Other debtors 16,268 3,869
90,834 78,881

SELECT CONTRACTS (SCOTLAND) LIMITED (REGISTERED NUMBER: SC375669)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 33,870 49,306
Taxation and social security 77,841 24,886
Other creditors 27,347 38,234
149,058 122,426

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 11,667 21,667