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REGISTERED NUMBER: SC245999 (Scotland)















SPECIALIST WELDING SERVICES LIMITED

Financial Statements for the Year Ended 30 April 2024






SPECIALIST WELDING SERVICES LIMITED (REGISTERED NUMBER: SC245999)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

SPECIALIST WELDING SERVICES LIMITED

Company Information
for the Year Ended 30 April 2024







DIRECTORS: C A Macphail
Mrs A Macphail





SECRETARY: Mrs A Macphail





REGISTERED OFFICE: 92 Bakers Road
Newmarket
Isle of Lewis
Western Isles
HS2 0EA





REGISTERED NUMBER: SC245999 (Scotland)





ACCOUNTANTS: Mann Judd Gordon Ltd
Chartered Accountants
26 Lewis Street
Stornoway
Isle of Lewis
HS1 2JF

SPECIALIST WELDING SERVICES LIMITED (REGISTERED NUMBER: SC245999)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 132,728 44,036
132,728 44,036

CURRENT ASSETS
Stocks 37,825 18,400
Debtors 6 107,715 71,432
Cash at bank 104,673 91,850
250,213 181,682
CREDITORS
Amounts falling due within one year 7 85,052 90,925
NET CURRENT ASSETS 165,161 90,757
TOTAL ASSETS LESS CURRENT
LIABILITIES

297,889

134,793

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 297,789 134,693
SHAREHOLDERS' FUNDS 297,889 134,793

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

SPECIALIST WELDING SERVICES LIMITED (REGISTERED NUMBER: SC245999)

Balance Sheet - continued
30 April 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 January 2025 and were signed on its behalf by:




C A Macphail - Director



Mrs A Macphail - Director


SPECIALIST WELDING SERVICES LIMITED (REGISTERED NUMBER: SC245999)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Specialist Welding Services 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.

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


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 2003, is being amortised evenly over its estimated useful life of ten 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 - 15% depreciation on reducing balance
Motor vehicles - 25% depreciation on reducing balance
Computer equipment - 33% depreciaton on cost

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 Profit and Loss Account, 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.


SPECIALIST WELDING SERVICES LIMITED (REGISTERED NUMBER: SC245999)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued
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 13 (2023 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 135,000
AMORTISATION
At 1 May 2023
and 30 April 2024 135,000
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 -

SPECIALIST WELDING SERVICES LIMITED (REGISTERED NUMBER: SC245999)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 May 2023 111,144 70,133 5,794 187,071
Additions 39,000 59,002 - 98,002
At 30 April 2024 150,144 129,135 5,794 285,073
DEPRECIATION
At 1 May 2023 93,917 43,622 5,496 143,035
Charge for year 2,584 6,628 98 9,310
At 30 April 2024 96,501 50,250 5,594 152,345
NET BOOK VALUE
At 30 April 2024 53,643 78,885 200 132,728
At 30 April 2023 17,227 26,511 298 44,036

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 94,012 69,852
Other debtors 13,703 1,580
107,715 71,432

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 597 2,131
Trade creditors 24,053 43,173
Taxation and social security 58,256 43,721
Other creditors 2,146 1,900
85,052 90,925

8. ULTIMATE CONTROLLING PARTY

The company has no ultimate controlling party, with both directors each holding 50% of the issued share capital.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Specialist Welding Services 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.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Specialist Welding Services Limited for the year ended 30 April 2024 which comprise the Profit and Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, 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 Specialist Welding Services Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Specialist Welding Services Limited and state those matters that we have agreed to state to the Board of Directors of Specialist Welding Services Limited, as a body, in this report in accordance with the requirements of ICAS 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 the company and its Board of Directors, as a body, for our work or for this report.

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






Mann Judd Gordon Ltd
Chartered Accountants
26 Lewis Street
Stornoway
Isle of Lewis
HS1 2JF


16 January 2025