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REGISTERED NUMBER: SC267054 (Scotland)


















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

INDEPENDENT ACCOUNTANTS IN SCOTLAND LTD

INDEPENDENT ACCOUNTANTS IN SCOTLAND LTD (REGISTERED NUMBER: SC267054)

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


INDEPENDENT ACCOUNTANTS IN SCOTLAND LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: N D Johnstone
F N G Singer





REGISTERED OFFICE: Level One
211 Dumbarton Road
Mansfield Park
Glasgow
G11 6AA





REGISTERED NUMBER: SC267054 (Scotland)





ACCOUNTANTS: Independent Accountants in Scotland Limited
Level One
211 Dumbarton Road
Mansfield Park
Glasgow
G11 6AA

INDEPENDENT ACCOUNTANTS IN SCOTLAND LTD (REGISTERED NUMBER: SC267054)

BALANCE SHEET
30 APRIL 2024

30/4/24 30/4/23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 23,406 6,125
23,406 6,125

CURRENT ASSETS
Stocks & work in progress 17,696 20,320
Debtors 6 1,056,605 1,093,870
Cash at bank and in hand 2,715,007 2,800,711
3,789,308 3,914,901
CREDITORS
Amounts falling due within one year 7 2,220,280 2,557,721
NET CURRENT ASSETS 1,569,028 1,357,180
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,592,434

1,363,305

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,592,334 1,363,205
SHAREHOLDERS' FUNDS 1,592,434 1,363,305

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.

INDEPENDENT ACCOUNTANTS IN SCOTLAND LTD (REGISTERED NUMBER: SC267054)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 January 2025 and were signed on its behalf by:





F N G Singer - Director


INDEPENDENT ACCOUNTANTS IN SCOTLAND LTD (REGISTERED NUMBER: SC267054)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024


1. STATUTORY INFORMATION

Independent Accountants In Scotland Ltd 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.

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.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

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 etc - 25% on cost and 20% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks & work in progress to their present location and condition.

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.


INDEPENDENT ACCOUNTANTS IN SCOTLAND LTD (REGISTERED NUMBER: SC267054)

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 7 (2023 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 May 2023
and 30 April 2024 80
AMORTISATION
At 1 May 2023
and 30 April 2024 80
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 -

INDEPENDENT ACCOUNTANTS IN SCOTLAND LTD (REGISTERED NUMBER: SC267054)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023 32,235
Additions 20,044
At 30 April 2024 52,279
DEPRECIATION
At 1 May 2023 26,110
Charge for year 2,763
At 30 April 2024 28,873
NET BOOK VALUE
At 30 April 2024 23,406
At 30 April 2023 6,125

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/4/24 30/4/23
£    £   
Trade debtors 342,415 337,288
Other debtors 667,590 698,452
VAT 46,600 47,513
Prepayments and accrued income - 10,617
1,056,605 1,093,870

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/4/24 30/4/23
£    £   
Bank loans and overdrafts 3,151 2,820
Hire purchase contracts 673 13,010
Payments on account 924,520 983,532
Trade creditors 5,709 87,640
Tax 124,728 101,190
Social security and other taxes 2,046 1,945
Other creditors 300,374 556,505
Accrued expenses 859,079 811,079
2,220,280 2,557,721

8. RELATED PARTY DISCLOSURES

Independent Registrars Limited (SC281854), Imexco Limited (S281853) and Singer & Johnstone Limited (SC281853) are related parties by virtue of common control.