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REGISTERED NUMBER: SC373653 (Scotland)












Financial Statements

for the Year Ended 31 March 2024

for

Check-It Holdings (Scotland) Limited

Check-It Holdings (Scotland) Limited (Registered number: SC373653)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Check-It Holdings (Scotland) Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr J Austin
Mrs H Austin





REGISTERED OFFICE: 61 James Watt Place
College Milton
East Kilbride
Glasgow
G74 5HG





REGISTERED NUMBER: SC373653 (Scotland)





ACCOUNTANTS: O'Haras Chartered Accountants
Radleigh House
1 Golf Road
Clarkston
Glasgow
G76 7HU

Check-It Holdings (Scotland) Limited (Registered number: SC373653)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 3 72,000 84,000
Property, plant and equipment 4 389,507 276,915
461,507 360,915

CURRENT ASSETS
Debtors 5 - 66,828
Cash at bank 93 108
93 66,936
CREDITORS
Amounts falling due within one year 6 113,524 36,697
NET CURRENT (LIABILITIES)/ASSETS (113,431 ) 30,239
TOTAL ASSETS LESS CURRENT
LIABILITIES

348,076

391,154

PROVISIONS FOR LIABILITIES 55,041 12,338
NET ASSETS 293,035 378,816

CAPITAL AND RESERVES
Called up share capital 8 200 200
Retained earnings 292,835 378,616
SHAREHOLDERS' FUNDS 293,035 378,816

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.

Check-It Holdings (Scotland) Limited (Registered number: SC373653)

Statement of Financial Position - 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 3 December 2024 and were signed on its behalf by:





Mr J Austin - Director


Check-It Holdings (Scotland) Limited (Registered number: SC373653)

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

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
Going concern
The directors continue to be satisfied that the company has adequate resources to continue in operation for the next 12 months. Consequently, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Revenue
Turnover represents the amounts received from the rental of plant & machinery, excluding value added tax and trade discounts.

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.

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.
Freehold property - not provided
Plant and machinery - 15% on reducing balance
Motor vehicles - 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Check-It Holdings (Scotland) Limited (Registered number: SC373653)

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

2. EMPLOYEES AND DIRECTORS

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

3. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 240,000
AMORTISATION
At 1 April 2023 156,000
Amortisation for year 12,000
At 31 March 2024 168,000
NET BOOK VALUE
At 31 March 2024 72,000
At 31 March 2023 84,000

4. PROPERTY, PLANT AND EQUIPMENT
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 April 2023 169,345 238,704 123,085 531,134
Additions - - 146,000 146,000
Disposals - - (31,720 ) (31,720 )
At 31 March 2024 169,345 238,704 237,365 645,414
DEPRECIATION
At 1 April 2023 - 172,141 82,078 254,219
Charge for year - 9,984 22,392 32,376
Eliminated on disposal - - (30,688 ) (30,688 )
At 31 March 2024 - 182,125 73,782 255,907
NET BOOK VALUE
At 31 March 2024 169,345 56,579 163,583 389,507
At 31 March 2023 169,345 66,563 41,007 276,915

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings - 66,828

Check-It Holdings (Scotland) Limited (Registered number: SC373653)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 8,717 -
Amounts owed to group undertakings 61,735 -
Taxation and social security 37,938 26,863
Other creditors 5,134 9,834
113,524 36,697

7. SECURED DEBTS

Both the directors and Rowanmoor Trustees Limited hold a charge over the property at 35 James Watt Place, College Milton, East Kilbride.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
200 Ordinary £1 200 200