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Registered Number: SC476656
Scotland

 

 

 

J. SCOTT MEDICAL LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 June 2023

End date: 31 May 2024
Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 May 2024 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Turner Accountancy Ltd.
31 May 2024



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

Turner Accountancy Ltd.

101 Park Street

Motherwell
ML1 1PF
27 February 2025
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 382,918    105,456 
Investments 4 1,000    1,000 
383,918    106,456 
Current assets      
Debtors 1,115,013    1,098,731 
Cash at bank and in hand 414,313    328,106 
1,529,326    1,426,837 
Creditors: amount falling due within one year (301,838)   (103,420)
Net current assets 1,227,488    1,323,417 
 
Total assets less current liabilities 1,611,406    1,429,873 
Creditors: amount falling due after more than one year 46,578    (34,317)
Provisions for liabilities (29,640)  
Net assets 1,628,344    1,395,556 
 

Capital and reserves
     
Called up share capital 1,000    1,000 
Profit and loss account 1,627,344    1,394,556 
Shareholders' funds 1,628,344    1,395,556 
 


For the year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 27 February 2025 and were signed on its behalf by:


-------------------------------
Barry Scott
Director
2
General Information
J. Scott Medical Limited is a private company, limited by shares, registered in Scotland, registration number SC476656, registration address East Birkwood, Waterfoot Road, Glasgow, G74 5AD.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Reducing Balance
Motor Vehicles 20% Reducing Balance
Fixtures and Fittings 25% Reducing Balance
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 2 (2023 : 1).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Total
  £   £   £   £   £
At 01 June 2023 40,154    38,144    30,498    74,860    183,656 
Additions 174,586      154,254      328,840 
Disposals        
At 31 May 2024 214,740    38,144    184,752    74,860    512,496 
Depreciation
At 01 June 2023   35,117    2,033    82,280    119,430 
Charge for year   757    36,544    6,578    43,879 
On disposals       (33,731)   (33,731)
At 31 May 2024   35,874    38,577    55,127    129,578 
Net book values
Closing balance as at 31 May 2024 214,740    2,270    146,175    19,733    382,918 
Opening balance as at 01 June 2023   3,027    28,465    73,964    105,456 


4.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 June 2023 1,000    1,000 
Additions  
Transfer to/from tangible fixed assets  
Disposals  
At 31 May 2024 1,000    1,000 

3