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REGISTERED NUMBER: 08122394 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 July 2024

for

Scott Cables Limited

Scott Cables Limited (Registered number: 08122394)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Scott Cables Limited

Company Information
for the Year Ended 31 July 2024







DIRECTORS: G A Scott
Mrs K Scott





SECRETARY: Mrs K Scott





REGISTERED OFFICE: Unit 7 Merlin Park
Airport Service Road
Portsmouth
Hampshire
PO3 5FU





REGISTERED NUMBER: 08122394 (England and Wales)





ACCOUNTANTS: Hughes Spencer
12 Acorn Business Park
Northarbour Road
Portsmouth
Hampshire
PO6 3TH

Scott Cables Limited (Registered number: 08122394)

Balance Sheet
31 July 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 287,023 358,412
287,023 358,412

CURRENT ASSETS
Stocks 1,209,121 912,295
Debtors 6 992,532 759,258
Cash at bank and in hand 305,292 249,629
2,506,945 1,921,182
CREDITORS
Amounts falling due within one year 7 1,301,706 1,134,020
NET CURRENT ASSETS 1,205,239 787,162
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,492,262

1,145,574

CREDITORS
Amounts falling due after more than one
year

8

65,647

77,018
NET ASSETS 1,426,615 1,068,556

CAPITAL AND RESERVES
Called up share capital 200 200
Share premium 699,902 699,902
Retained earnings 726,513 368,454
SHAREHOLDERS' FUNDS 1,426,615 1,068,556

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

Scott Cables Limited (Registered number: 08122394)

Balance Sheet - continued
31 July 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 10 February 2025 and were signed on its behalf by:




G A Scott - Director



Mrs K Scott - Director


Scott Cables Limited (Registered number: 08122394)

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

1. STATUTORY INFORMATION

Scott Cables Limited is a private company, limited by shares , registered in England and Wales. 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - the period of the lease
Plant and machinery etc - 25% on reducing balance

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.

Scott Cables Limited (Registered number: 08122394)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 42 (2023 - 39 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2023
and 31 July 2024 263,079
AMORTISATION
At 1 August 2023
and 31 July 2024 263,079
NET BOOK VALUE
At 31 July 2024 -
At 31 July 2023 -

Scott Cables Limited (Registered number: 08122394)

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

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 August 2023 93,494 687,739 781,233
Additions - 11,819 11,819
At 31 July 2024 93,494 699,558 793,052
DEPRECIATION
At 1 August 2023 31,165 391,656 422,821
Charge for year 6,233 76,975 83,208
At 31 July 2024 37,398 468,631 506,029
NET BOOK VALUE
At 31 July 2024 56,096 230,927 287,023
At 31 July 2023 62,329 296,083 358,412

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 August 2023
and 31 July 2024 94,167
DEPRECIATION
At 1 August 2023 23,542
Charge for year 17,656
At 31 July 2024 41,198
NET BOOK VALUE
At 31 July 2024 52,969
At 31 July 2023 70,625

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 794,537 445,957
Amounts recoverable on contract 125,355 213,216
Other debtors 72,640 100,085
992,532 759,258

Scott Cables Limited (Registered number: 08122394)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 11,371 11,371
Trade creditors 265,912 317,861
Amounts owed to group undertakings 857,448 750,448
Taxation and social security 150,610 34,686
Other creditors 16,365 19,654
1,301,706 1,134,020

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 65,647 77,018

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 11,371 11,371
Between one and five years 65,647 77,018
77,018 88,389

Non-cancellable operating leases
2024 2023
£    £   
Within one year 115,881 115,881
Between one and five years 463,524 463,524
In more than five years 477,176 593,057
1,056,581 1,172,462