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REGISTERED NUMBER: SC337121 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

SOMTEK LIMITED

SOMTEK LIMITED (REGISTERED NUMBER: SC337121)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 7

SOMTEK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: S J Somerville
Mrs M Somerville





SECRETARY: Mrs M Somerville





REGISTERED OFFICE: 39 Beltonfoot Way
Wishaw
ML2 0GA





REGISTERED NUMBER: SC337121 (Scotland)





ACCOUNTANTS: J Gilmour & Co
Certified Accountants
24 Clydeview
Bothwell
Glasgow
Lanarkshire
G71 8NW

SOMTEK LIMITED (REGISTERED NUMBER: SC337121)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 340 454

CURRENT ASSETS
Stocks 5 - 1,038
Debtors 6 - 1,851
Cash at bank 54,225 65,937
54,225 68,826
CREDITORS
Amounts falling due within one year 7 14,149 25,349
NET CURRENT ASSETS 40,076 43,477
TOTAL ASSETS LESS CURRENT
LIABILITIES

40,416

43,931

PROVISIONS FOR LIABILITIES 8 68 86
NET ASSETS 40,348 43,845

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 40,248 43,745
SHAREHOLDERS' FUNDS 40,348 43,845

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.

SOMTEK LIMITED (REGISTERED NUMBER: SC337121)

BALANCE SHEET - continued
31 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 14 November 2024 and were signed on its behalf by:




S J Somerville - Director



Mrs M Somerville - Director


SOMTEK LIMITED (REGISTERED NUMBER: SC337121)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Somtek 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

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

SOMTEK LIMITED (REGISTERED NUMBER: SC337121)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 April 2023
and 31 March 2024 9,503
DEPRECIATION
At 1 April 2023 9,049
Charge for year 114
At 31 March 2024 9,163
NET BOOK VALUE
At 31 March 2024 340
At 31 March 2023 454

5. STOCKS
31.3.24 31.3.23
£    £   
Finished goods - 1,038

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Prepayments and accrued income - 1,851

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Tax 6,240 11,647
VAT 2,143 7,407
Directors' current accounts 5,766 3,389
Accrued expenses - 2,906
14,149 25,349

8. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 68 86

Deferred
tax
£   
Balance at 1 April 2023 86
Accelerated capital allowances (18 )
Balance at 31 March 2024 68

SOMTEK LIMITED (REGISTERED NUMBER: SC337121)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary 1 100 100

10. RESERVES
Retained
earnings
£   

At 1 April 2023 43,745
Profit for the year 26,503
Dividends (30,000 )
At 31 March 2024 40,248

SOMTEK LIMITED

REPORT OF THE ACCOUNTANTS TO THE DIRECTORS OF
SOMTEK LIMITED


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.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2024 set out on pages three to eight and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






J Gilmour & Co
Certified Accountants
24 Clydeview
Bothwell
Glasgow
Lanarkshire
G71 8NW


14 November 2024