Smart PAT Testing Services Limited SC682531 false 2023-03-01 2024-02-29 2024-02-29 The principal activity of the company is that of PAT testing services. Digita Accounts Production Advanced 6.30.9574.0 true true SC682531 2023-03-01 2024-02-29 SC682531 2024-02-29 SC682531 bus:OrdinaryShareClass1 2024-02-29 SC682531 core:CurrentFinancialInstruments 2024-02-29 SC682531 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 SC682531 bus:SmallEntities 2023-03-01 2024-02-29 SC682531 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 SC682531 bus:FilletedAccounts 2023-03-01 2024-02-29 SC682531 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 SC682531 bus:RegisteredOffice 2023-03-01 2024-02-29 SC682531 bus:Director1 2023-03-01 2024-02-29 SC682531 bus:Director2 2023-03-01 2024-02-29 SC682531 bus:OrdinaryShareClass1 2023-03-01 2024-02-29 SC682531 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 SC682531 bus:Agent1 2023-03-01 2024-02-29 SC682531 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-03-01 2024-02-29 SC682531 countries:Scotland 2023-03-01 2024-02-29 SC682531 2022-03-01 2023-02-28 SC682531 2023-02-28 SC682531 bus:OrdinaryShareClass1 2023-02-28 SC682531 core:CurrentFinancialInstruments 2023-02-28 SC682531 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 iso4217:GBP xbrli:pure xbrli:shares

Registration number: SC682531

Smart PAT Testing Services Limited

Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

 

Smart PAT Testing Services Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 8

 

Smart PAT Testing Services Limited

Company Information

Directors

Mr S A Brown

Mr G MaGee

Registered office

 

Argyll House
Quarrywood Court
Livingston
West Lothian
EH54 6AX

Accountants

Glen Drummond Ltd
Argyll House
Quarrywood Court
Livingston
West Lothian
EH54 6AX

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Smart PAT Testing Services Limited
for the Year Ended 29 February 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Smart PAT Testing Services Limited for the year ended 29 February 2024 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants of Scotland, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Smart PAT Testing Services Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Smart PAT Testing Services Limited and state those matters that we have agreed to state to the Board of Directors of Smart PAT Testing Services Limited, as a body, in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Smart PAT Testing Services Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Smart PAT Testing Services Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Smart PAT Testing Services Limited. You consider that Smart PAT Testing Services 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 accounts of Smart PAT Testing Services 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 accounts.

......................................

Glen Drummond Ltd
Argyll House
Quarrywood Court
Livingston
West Lothian
EH54 6AX

21 November 2024

 

Smart PAT Testing Services Limited

(Registration number: SC682531)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Current assets

 

Debtors

4

55,189

41,581

Cash at bank and in hand

 

1,341

698

 

56,530

42,279

Creditors: Amounts falling due within one year

5

(56,468)

(42,230)

Net assets

 

62

49

Capital and reserves

 

Called up share capital

6

2

2

Retained earnings

60

47

Shareholders' funds

 

62

49

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Smart PAT Testing Services Limited

(Registration number: SC682531)
Balance Sheet as at 29 February 2024

Approved and authorised by the Board on 21 November 2024 and signed on its behalf by:
 

.........................................
Mr S A Brown
Director

 

Smart PAT Testing Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
Argyll House
Quarrywood Court
Livingston
West Lothian
EH54 6AX

These financial statements were authorised for issue by the Board on 21 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. There were no material departures from that standard.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

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

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration derived from that of PAT testing services. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

 

Smart PAT Testing Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Tax

The tax expense for the period comprises current tax. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

At the balance sheet date, the company reviews the carrying amounts 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. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Expenditure of £500 or more on individual tangible fixed assets is capitalised at cost. Expenditure on assets below this threshold is charged directly to the profit and loss account in the period it is incurred.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

 

Smart PAT Testing Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 2 (2023 - 2).

4

Debtors

2024
£

2023
£

Trade debtors

6,542

8,089

Prepayments

186

186

Other debtors

48,461

33,306

55,189

41,581

5

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

353

567

Taxation and social security

55,615

40,090

Accruals and deferred income

500

350

Other creditors

-

1,223

56,468

42,230

 

Smart PAT Testing Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

       

7

Related party transactions

The company operates a loan account with the directors, Mr S A Brown and Mr G MaGee.

During the year, the company advanced loans totalling £11,458 to the directors. At the year end, the balance due from the directors was £35,893 (2023 - £24,435). This loan is unsecured, interest free and has no fixed repayment terms.