Silverfin false false 31/12/2024 01/01/2024 31/12/2024 Edward Mccullough 31/10/2019 Paula Paterson 29/04/2021 Angus Keith Scott 26/03/2020 24 March 2025 The principal activity of the Company during the financial year continued to be that of business consulting services. SC645795 2024-12-31 SC645795 bus:Director1 2024-12-31 SC645795 bus:Director2 2024-12-31 SC645795 bus:Director3 2024-12-31 SC645795 2023-12-31 SC645795 core:CurrentFinancialInstruments 2024-12-31 SC645795 core:CurrentFinancialInstruments 2023-12-31 SC645795 core:ShareCapital 2024-12-31 SC645795 core:ShareCapital 2023-12-31 SC645795 core:RetainedEarningsAccumulatedLosses 2024-12-31 SC645795 core:RetainedEarningsAccumulatedLosses 2023-12-31 SC645795 core:OtherResidualIntangibleAssets 2023-12-31 SC645795 core:OtherResidualIntangibleAssets 2024-12-31 SC645795 core:OtherPropertyPlantEquipment 2023-12-31 SC645795 core:OtherPropertyPlantEquipment 2024-12-31 SC645795 2022-12-31 SC645795 bus:OrdinaryShareClass1 2024-12-31 SC645795 bus:OrdinaryShareClass2 2024-12-31 SC645795 bus:OrdinaryShareClass3 2024-12-31 SC645795 bus:OrdinaryShareClass4 2024-12-31 SC645795 2024-01-01 2024-12-31 SC645795 bus:FilletedAccounts 2024-01-01 2024-12-31 SC645795 bus:SmallEntities 2024-01-01 2024-12-31 SC645795 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 SC645795 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 SC645795 bus:Director1 2024-01-01 2024-12-31 SC645795 bus:Director2 2024-01-01 2024-12-31 SC645795 bus:Director3 2024-01-01 2024-12-31 SC645795 core:OtherResidualIntangibleAssets core:TopRangeValue 2024-01-01 2024-12-31 SC645795 core:OtherPropertyPlantEquipment core:BottomRangeValue 2024-01-01 2024-12-31 SC645795 core:OtherPropertyPlantEquipment core:TopRangeValue 2024-01-01 2024-12-31 SC645795 2023-01-01 2023-12-31 SC645795 core:OtherResidualIntangibleAssets 2024-01-01 2024-12-31 SC645795 core:OtherPropertyPlantEquipment 2024-01-01 2024-12-31 SC645795 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 SC645795 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 SC645795 bus:OrdinaryShareClass2 2024-01-01 2024-12-31 SC645795 bus:OrdinaryShareClass2 2023-01-01 2023-12-31 SC645795 bus:OrdinaryShareClass3 2024-01-01 2024-12-31 SC645795 bus:OrdinaryShareClass3 2023-01-01 2023-12-31 SC645795 bus:OrdinaryShareClass4 2024-01-01 2024-12-31 SC645795 bus:OrdinaryShareClass4 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC645795 (Scotland)

FIDES OAK LTD

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH THE REGISTRAR

FIDES OAK LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024

Contents

FIDES OAK LTD

BALANCE SHEET

AS AT 31 DECEMBER 2024
FIDES OAK LTD

BALANCE SHEET (continued)

AS AT 31 DECEMBER 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 37,316 43,134
Tangible assets 4 11,022 19,008
48,338 62,142
Current assets
Debtors 5 446,183 749,262
Cash at bank and in hand 693,249 1,488,640
1,139,432 2,237,902
Creditors: amounts falling due within one year 6 ( 174,138) ( 1,324,104)
Net current assets 965,294 913,798
Total assets less current liabilities 1,013,632 975,940
Provision for liabilities 7, 8 ( 2,756) ( 4,752)
Net assets 1,010,876 971,188
Capital and reserves
Called-up share capital 9 100 100
Profit and loss account 1,010,776 971,088
Total shareholders' funds 1,010,876 971,188

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Fides Oak Ltd (registered number: SC645795) were approved and authorised for issue by the Board of Directors on 24 March 2025. They were signed on its behalf by:

Edward Mccullough
Director
Angus Keith Scott
Director
Paula Paterson
Director
FIDES OAK LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024
FIDES OAK LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Fides Oak Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Westpoint House Prospect Road, Arnhall Business Park, Westhill, AB32 6FJ, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets 10 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 3 - 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs .

Basic financial liabilities
Basic financial liabilities, including creditors, are recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Provisions

Deferred tax provisions are recognised when the Company has a 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 amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 16 14

3. Intangible assets

Other intangible assets Total
£ £
Cost
At 01 January 2024 58,184 58,184
At 31 December 2024 58,184 58,184
Accumulated amortisation
At 01 January 2024 15,050 15,050
Charge for the financial year 5,818 5,818
At 31 December 2024 20,868 20,868
Net book value
At 31 December 2024 37,316 37,316
At 31 December 2023 43,134 43,134

4. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 January 2024 34,620 34,620
Additions 1,222 1,222
At 31 December 2024 35,842 35,842
Accumulated depreciation
At 01 January 2024 15,612 15,612
Charge for the financial year 9,208 9,208
At 31 December 2024 24,820 24,820
Net book value
At 31 December 2024 11,022 11,022
At 31 December 2023 19,008 19,008

5. Debtors

2024 2023
£ £
Trade debtors 285,119 559,299
Other debtors 161,064 189,963
446,183 749,262

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 9,395 79,569
Taxation and social security 122,827 388,235
Other creditors 41,916 856,300
174,138 1,324,104

7. Provision for liabilities

2024 2023
£ £
Deferred tax 2,756 4,752

8. Deferred tax

2024 2023
£ £
At the beginning of financial year ( 4,752) ( 3,225)
Credited/(charged) to the Statement of Income and Retained Earnings 1,996 ( 1,527)
At the end of financial year ( 2,756) ( 4,752)

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
49 A ordinary shares of £ 1.00 each 49 49
49 B ordinary shares of £ 1.00 each 49 49
1 C ordinary share of £ 1.00 1 1
1 D ordinary share of £ 1.00 1 1
100 100

10. Financial commitments

Commitments

2024 2023
£ £
Total future minimum lease payments under non-cancellable operating lease 74,955 58,931