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REGISTERED NUMBER: 12537495 (England and Wales)















Scobie McIntosh Group Limited

Group Strategic Report, Report of the Directors and

Consolidated Financial Statements for the Year Ended 30 June 2024






Scobie McIntosh Group Limited (Registered number: 12537495)






Contents of the Consolidated Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Consolidated Statement of Comprehensive Income 10

Consolidated Balance Sheet 11

Company Balance Sheet 12

Consolidated Statement of Changes in Equity 13

Company Statement of Changes in Equity 14

Consolidated Cash Flow Statement 15

Notes to the Consolidated Cash Flow Statement 16

Notes to the Consolidated Financial Statements 18


Scobie McIntosh Group Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: Mr A B Alderson
Mr G Gossal
Mr M R J Stevens





REGISTERED OFFICE: Unit C1
The Fleming Centre
Fleming Way
Crawley
West Sussex
RH10 9NN





REGISTERED NUMBER: 12537495 (England and Wales)





AUDITORS: Swindells LLP
Chartered Accountants
and Statutory Auditor
Atlantic House
8 Bell Lane
Bellbrook Industrial Estate
Uckfield
East Sussex
TN22 1QL

Scobie McIntosh Group Limited (Registered number: 12537495)

Group Strategic Report
for the Year Ended 30 June 2024

The directors present their strategic report of the company and the group for the year ended 30 June 2024.

FAIR REVIEW OF BUSINESS
The strategy of the business is to provide equipment and maintenance solutions for a wide variety of clients within the food service and hospitality industry. The workforce is arranged around an operational centre in the south and a warehouse and refurb centre in the north. A national workforce of service and install engineers, are able to provide a 24/7 reactive and preventative maintenance service throughout the UK. Each cluster of engineers includes a mix of specialist skills to ensure that the engineering resource required is matched to the asset base of machines which are maintained under service contract.

PRINCIPAL RISKS AND UNCERTAINTIES
Sales Strategy

The company continues to focus on its five core market segments of bakery, catering, vending, coffee and refrigeration. Our strategy is to increase maintenance and equipment sales in each of these five segments. The business will redevelop its website and offer its equipment and services online to clients via a revamped digital platform.

Competitive Environment

The corporate environment remains extremely competitive. The principal risk to the business is the loss of key customer contracts on contract renewal. The business is operating within its contractual KPIs with its major clients. To mitigate risk, we establish good customer relationships and provide goods and services our clients demand which represent value for money. Constantly we are seeking new clients to reduce the dependency of the business on a limited number of clients. During the period, the company secured additional work for a variety of independent clients.

People Strategy

We continue to invest in our personnel, with ongoing technical training for all staff, from technical training in mechanical or electrical engineering through to specialist training in each business function of sales, operations, finance, information systems and human resources.

Liquidity Risk

The company manages its cash and borrowing requirements to maximise interest income and minimise interest expense, whilst ensuring that the company has sufficient liquid resources to meet the operating needs of the business. This is managed through weekly updates of forecast cash positions.

Credit Risk

All customers who wish to trade on credit terms are subject to credit verification procedures. Trade debtors are monitored on an ongoing basis and provision is made for doubtful debts where necessary.

Acquisitions

The business will grow through successful negotiation of new contracts or through acquisition of complimentary service-orientated businesses. A number of acquisition targets have been identified.


Scobie McIntosh Group Limited (Registered number: 12537495)

Group Strategic Report
for the Year Ended 30 June 2024

KEY PERFORMANCE INDICATORS
The directors of the company focus on sustainable profitability and generating a sustainable long term return of invested capital to its shareholders, when measured against other potential investment classes. key operational indicators measured on a regular basis include:

Finance - Increase or decrease in monthly cashflow;

Maintenance - First Time Fix Rate and Work in Progress;

Equipment - Equipment turn and margin achievement;

Projects - Project Duration, allocated capital and net margin achievement;

Storage & Logistics - Asset utilisation, handling and warehouse costs.

ON BEHALF OF THE BOARD:





Mr G Gossal - Director


14 March 2025

Scobie McIntosh Group Limited (Registered number: 12537495)

Report of the Directors
for the Year Ended 30 June 2024

The directors present their report with the financial statements of the company and the group for the year ended 30 June 2024.

PRINCIPAL ACTIVITY
The principal activity of the group in the year under review was that of the supply and maintenance of equipment.

DIVIDENDS
No dividends will be distributed for the year ended 30 June 2024.

DIRECTORS
Mr A B Alderson has held office during the whole of the period from 1 July 2023 to the date of this report.

Other changes in directors holding office are as follows:

Mr G Gossal - appointed 1 August 2023
Mr M R J Stevens - appointed 1 August 2023

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Scobie McIntosh Group Limited (Registered number: 12537495)

Report of the Directors
for the Year Ended 30 June 2024


STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

ON BEHALF OF THE BOARD:





Mr G Gossal - Director


14 March 2025

Report of the Independent Auditors to the Members of
Scobie McIntosh Group Limited

Qualified opinion
We have audited the financial statements of Scobie McIntosh Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 June 2024 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion, except for the effects of the matter described in basis for qualified opinion paragraph, the financial statements:
- give a true and fair view of the state of the company's affairs as at 30 June 2024 and of its profit for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for qualified opinion
We did not observe the physical counting of opening stock as at 30 June 2023, as this was prior to our appointment as auditor of the group. The value of opening stock of £668,863 is material to the financial statements and we are unable to satisfy ourselves by alternative means concerning the stock quantities and therefore the value of stock held at 30 June 2023.

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Report of the Independent Auditors to the Members of
Scobie McIntosh Group Limited


Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Scobie McIntosh Group Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- the company's internal controls have been discussed with management and understood prior to
our audit testing. Internal controls have been tested through walkthrough testing, to assess
whether controls are adequate, whether they are being followed, and whether irregularities and
fraud are prevented.
- deficiencies in internal controls have been highlighted and explained to management, along with
recommendations as to how deficiencies can be improved and the risk of irregularity and fraud
occurrence minimised.
- representations have been provided by management that there were no identified cases of fraud
or instances of non-compliance during or since the accounting period.
- substantive testing has been carried out to test the validity of transactions, with entries in the
accounting system vouched to corresponding third party documentation and evidence of
appropriate authorisation

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Scobie McIntosh Group Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Joanna Green BSc FCA (Senior Statutory Auditor)
for and on behalf of Swindells LLP
Chartered Accountants
and Statutory Auditor
Atlantic House
8 Bell Lane
Bellbrook Industrial Estate
Uckfield
East Sussex
TN22 1QL

14 March 2025

Scobie McIntosh Group Limited (Registered number: 12537495)

Consolidated
Statement of Comprehensive
Income
for the Year Ended 30 June 2024

2024 2023
Notes £    £   

TURNOVER 16,690,385 17,966,373

Cost of sales 10,978,322 12,486,461
GROSS PROFIT 5,712,063 5,479,912

Administrative expenses 4,976,902 5,052,733
OPERATING PROFIT 4 735,161 427,179

Interest receivable and similar income 5,435 -
740,596 427,179

Interest payable and similar expenses 5 39,370 26,628
PROFIT BEFORE TAXATION 701,226 400,551

Tax on profit 6 178,302 86,447
PROFIT FOR THE FINANCIAL YEAR 522,924 314,104

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

522,924

314,104

Profit attributable to:
Owners of the parent 522,924 314,104

Total comprehensive income attributable to:
Owners of the parent 522,924 314,104

Scobie McIntosh Group Limited (Registered number: 12537495)

Consolidated Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 8 93,445 102,130
Investments 9 - -
93,445 102,130

CURRENT ASSETS
Stocks 10 675,568 668,863
Debtors 11 4,355,324 3,069,247
Cash at bank 514,677 725,175
5,545,569 4,463,285
CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR

12

3,602,412

3,063,245
NET CURRENT ASSETS 1,943,157 1,400,040
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,036,602

1,502,170

CREDITORS: AMOUNTS FALLING DUE
AFTER MORE THAN ONE YEAR

13

(285,902

)

(346,885

)

PROVISIONS FOR LIABILITIES 16 (80,487 ) (7,996 )
NET ASSETS 1,670,213 1,147,289

CAPITAL AND RESERVES
Called up share capital 17 100 100
Merger reserve 18 (62,925 ) (62,925 )
Retained earnings 18 1,733,038 1,210,114
SHAREHOLDERS' FUNDS 1,670,213 1,147,289

The financial statements were approved by the Board of Directors and authorised for issue on 14 March 2025 and were signed on its behalf by:





Mr G Gossal - Director


Scobie McIntosh Group Limited (Registered number: 12537495)

Company Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 8 - -
Investments 9 63,325 63,325
63,325 63,325

CURRENT ASSETS
Debtors 11 113,185 98,188
Cash at bank 5,530 15,426
118,715 113,614
CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR

12

5,256

4,757
NET CURRENT ASSETS 113,459 108,857
TOTAL ASSETS LESS CURRENT
LIABILITIES

176,784

172,182

CREDITORS: AMOUNTS FALLING DUE
AFTER MORE THAN ONE YEAR

13

202,568

188,125
NET LIABILITIES (25,784 ) (15,943 )

CAPITAL AND RESERVES
Called up share capital 17 100 100
Retained earnings (25,884 ) (16,043 )
SHAREHOLDERS' FUNDS (25,784 ) (15,943 )

Company's loss for the financial year (9,841 ) (16,709 )

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 14 March 2025 and were signed on its behalf by:



Mr G Gossal - Director


Scobie McIntosh Group Limited (Registered number: 12537495)

Consolidated Statement of Changes in Equity
for the Year Ended 30 June 2024

Called up
share Retained Merger Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 July 2022 100 896,010 (62,925 ) 833,185

Changes in equity
Total comprehensive income - 314,104 - 314,104
Balance at 30 June 2023 100 1,210,114 (62,925 ) 1,147,289

Changes in equity
Total comprehensive income - 522,924 - 522,924
Balance at 30 June 2024 100 1,733,038 (62,925 ) 1,670,213

Scobie McIntosh Group Limited (Registered number: 12537495)

Company Statement of Changes in Equity
for the Year Ended 30 June 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 July 2022 100 666 766

Changes in equity
Total comprehensive income - (16,709 ) (16,709 )
Balance at 30 June 2023 100 (16,043 ) (15,943 )

Changes in equity
Total comprehensive income - (9,841 ) (9,841 )
Balance at 30 June 2024 100 (25,884 ) (25,784 )

Scobie McIntosh Group Limited (Registered number: 12537495)

Consolidated Cash Flow Statement
for the Year Ended 30 June 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 4,778 196,840
Interest paid (39,370 ) (26,628 )
Tax paid (85,358 ) (73,673 )
Net cash from operating activities (119,950 ) 96,539

Cash flows from investing activities
Purchase of tangible fixed assets (35,000 ) (49,023 )
Sale of tangible fixed assets - 14,795
Interest received 5,435 -
Net cash from investing activities (29,565 ) (34,228 )

Cash flows from financing activities
Movement in bank loans (60,983 ) (69,782 )
Net cash from financing activities (60,983 ) (69,782 )

Decrease in cash and cash equivalents (210,498 ) (7,471 )
Cash and cash equivalents at beginning
of year

2

725,175

732,646

Cash and cash equivalents at end of
year

2

514,677

725,175

Scobie McIntosh Group Limited (Registered number: 12537495)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 30 June 2024

1. RECONCILIATION OF PROFIT FOR THE FINANCIAL YEAR TO CASH GENERATED FROM OPERATIONS

2024 2023
£    £   
Profit for the financial year 522,924 314,104
Depreciation charges 43,684 32,182
Profit on disposal of fixed assets - (1,250 )
Finance costs 39,370 26,628
Finance income (5,435 ) -
Taxation 178,302 86,447
778,845 458,111
(Increase)/decrease in stocks (6,705 ) 9,003
Increase in trade and other debtors (284,618 ) (46,474 )
Decrease in trade and other creditors (482,744 ) (223,800 )
Cash generated from operations 4,778 196,840

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 June 2024
30.6.24 1.7.23
£    £   
Cash and cash equivalents 514,677 725,175
Year ended 30 June 2023
30.6.23 1.7.22
£    £   
Cash and cash equivalents 725,175 732,646


Scobie McIntosh Group Limited (Registered number: 12537495)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 30 June 2024

3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.7.23 Cash flow At 30.6.24
£    £    £   
Net cash
Cash at bank 725,175 (210,498 ) 514,677
725,175 (210,498 ) 514,677
Debt
Debts falling due within 1 year (80,000 ) - (80,000 )
Debts falling due after 1 year (346,885 ) 60,983 (285,902 )
(426,885 ) 60,983 (365,902 )
Total 298,290 (149,515 ) 148,775

Scobie McIntosh Group Limited (Registered number: 12537495)

Notes to the Consolidated Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Scobie McIntosh Group 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 General 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Basis of consolidation
The consolidated group financial statements consist of the financial statements of the parent company Scobie McIntosh Group Limited together with all the entities controlled by the parent company (its subsidiaries) and the group's share of its interest in joint ventures and associates.

All financial statements are made up to 30 June 2024. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.

All inter-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of th asset transferred.

In the year to 30 June 2022, the parent company, Scobie McIntosh Group Limited, purchased any minority share holdings in group companies. The ultimate controlling equity holder remained the same and so the directors applied the merger method of consolidation.

Subsidiaries are consolidated in the group's financial statements from the date that control commences until the date that control ceases.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Scobie McIntosh Group Limited (Registered number: 12537495)

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

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit and loss. Reversals of impairment losses are also recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Statement of Comprehensive Income, 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Scobie McIntosh Group Limited (Registered number: 12537495)

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

2. ACCOUNTING POLICIES - continued

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 group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

Provisions
Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation recognised at present value.When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in the profit or loss in the period where it arises.

3. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 4,116,471 4,098,127
Social security costs 410,450 435,888
Other pension costs 110,633 112,088
4,637,554 4,646,103

The average number of employees during the year was as follows:
2024 2023

The average number of employees 125 128

2024 2023
£    £   
Directors' remuneration 232,572 40,000

Information regarding the highest paid director for the year ended 30 June 2024 is as follows:
2024
£   
Emoluments etc 140,572

Scobie McIntosh Group Limited (Registered number: 12537495)

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

4. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2024 2023
£    £   
Hire of plant and machinery 4,342 1,201
Other operating leases 240,174 677,825
Depreciation - owned assets 43,685 32,184
Profit on disposal of fixed assets - (1,250 )
Auditors' remuneration 48,900 64,752
Foreign exchange differences 40,197 53,008

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank interest - 465
Bank loan interest 22,419 17,987
Other interest payable 16,951 8,176
39,370 26,628

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 180,811 86,112

Deferred tax (2,509 ) 335
Tax on profit 178,302 86,447

Scobie McIntosh Group Limited (Registered number: 12537495)

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

6. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 701,226 400,551
Profit multiplied by the standard rate of corporation tax in the UK
of 25 % (2023 - 21.800 %)

175,307

87,320

Effects of:
Expenses not deductible for tax purposes 6,234 213
Capital allowances in excess of depreciation (503 ) (1,086 )
Marginal relief (227 ) -
Deferred tax (2,509 ) -
Total tax charge 178,302 86,447

7. INDIVIDUAL STATEMENT OF COMPREHENSIVE INCOME

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


Scobie McIntosh Group Limited (Registered number: 12537495)

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

8. TANGIBLE FIXED ASSETS

Group
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 July 2023 16,041 133,581 1,785 151,407
Additions - 35,000 - 35,000
At 30 June 2024 16,041 168,581 1,785 186,407
DEPRECIATION
At 1 July 2023 12,031 35,907 1,339 49,277
Charge for year 4,010 39,229 446 43,685
At 30 June 2024 16,041 75,136 1,785 92,962
NET BOOK VALUE
At 30 June 2024 - 93,445 - 93,445
At 30 June 2023 4,010 97,674 446 102,130

9. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1 July 2023
and 30 June 2024 63,325
NET BOOK VALUE
At 30 June 2024 63,325
At 30 June 2023 63,325

Scobie McIntosh Group Limited (Registered number: 12537495)

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

9. FIXED ASSET INVESTMENTS - continued

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

Details of the company's subsidiaries at 30 June 2024 are as follows:

Name of undertaking Address Class of % held
shares held Direct Indirect

Scobie Equipment Limited 1 Ordinary 100
Scobie Maintenance Limited 1 Ordinary 100
Scobie Projects Limited 1 Ordinary 100
Scobie McIntosh Logistics Limited 1 Ordinary 100
Scobie Bakery Services Limited 1 Ordinary 100
Scobie Catering Services Limited 1 Ordinary 100
Scobie Coffee Services Limited 1 Ordinary 100
Scobie Vending Services Limited 1 Ordinary 100
Scobie Technical Services Limited 1 Ordinary 100
Scobie Refrigeration Limited 1 Ordinary 100

Registered office addresses (all UK unless otherwise indicated):

1. Unit C1, Fleming Way, Crawley, England, RH10 9NN

All indirectly held subsidiaries are wholly owned by Scobie Maintenance Limited.

Details of associates at 30 June 2024 are as follows:

Name of undertaking Registered office % held
Direct

Scobie Finance LLP Gothic House, The Green, Richmond, England, TW9 1PL 40


10. STOCKS

Group
2024 2023
£    £   
Stocks 675,568 668,863

Scobie McIntosh Group Limited (Registered number: 12537495)

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

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Trade debtors 3,167,784 2,901,225 - -
Provision for bad debts (70,814 ) - - -
Amounts owed by group undertakings 1,001,459 - 113,185 98,088
Other debtors 100 100 - 100
Prepayments and accrued income 256,795 167,922 - -
4,355,324 3,069,247 113,185 98,188

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Bank loans and overdrafts (see note 14) 80,000 80,000 - -
Trade creditors 1,135,160 1,387,586 - -
Amounts owed to group undertakings 1,001,459 - - -
Corporation tax 180,967 85,514 156 156
Social security and other taxes 133,462 515,206 - -
VAT 295,098 - - -
Other creditors 393,573 359,356 100 101
Accruals and deferred income 382,693 635,583 5,000 4,500
3,602,412 3,063,245 5,256 4,757

13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Bank loans (see note 14) 83,334 158,760 - -
Other loans (see note 14) 202,568 188,125 202,568 188,125
285,902 346,885 202,568 188,125

Scobie McIntosh Group Limited (Registered number: 12537495)

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

14. LOANS

An analysis of the maturity of loans is given below:

Group Company
2024 2023 2024 2023
£    £    £    £   
Amounts falling due within one year or on demand:
Bank loans 80,000 80,000 - -
Amounts falling due between one and two years:
Bank loans - 1-2 years 83,334 20,000 - -
Other loans 202,568 188,125 202,568 188,125
285,902 208,125 202,568 188,125
Amounts falling due between two and five years:
Bank loans - 138,760 - -

Bank loans represent a combination of two unsecured bank loans from Lloyds Bank plc and EquiFirst Capital Holdings Limited. The former loan was obtained through the Coronavirus Bounce Back Loan Scheme and is repayable over six years with no repayments required in the first year, and carries a fixed interest rate of 2.5% per annum. The latter loan was obtained through a loan facility and is repayable by 31 March 2025, and carries a fixed interest rate of 7.5% per annum.

15. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Non-cancellable operating leases
2024 2023
£    £   
Within one year 403,728 496,857
Between one and five years 834,784 596,566
In more than five years 538,495 -
1,777,007 1,093,423

Scobie McIntosh Group Limited (Registered number: 12537495)

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

16. PROVISIONS FOR LIABILITIES

Group
2024 2023
£    £   
Deferred tax 5,487 7,996

Other provisions 75,000 -

Aggregate amounts 80,487 7,996

Group
Deferred
tax Dilapidations
£    £   
Balance at 1 July 2023 7,996 -
Provided during year - 75,000
Credit to Statement of Comprehensive Income during year (2,509 ) -
Balance at 30 June 2024 5,487 75,000

17. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

18. RESERVES

Group
Retained Merger
earnings reserve Totals
£    £    £   

At 1 July 2023 1,210,114 (62,925 ) 1,147,189
Profit for the year 522,924 522,924
At 30 June 2024 1,733,038 (62,925 ) 1,670,113


Scobie McIntosh Group Limited (Registered number: 12537495)

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

19. RELATED PARTY DISCLOSURES

Entities with control, joint control or significant influence over the entity
2024 2023
£    £   
Purchases 137,508 137,508
Transfers 83,986 160,596
Amount due to related party 426,966 658,410

Other related parties
2024 2023
£    £   
Purchases 80,931 76,166
Amount due to related party - 635

20. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr A B Alderson.