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Registered number: 07907737










SCOTT BROS REFINISHING LIMITED










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
SCOTT BROS REFINISHING LIMITED
REGISTERED NUMBER: 07907737

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

FIXED ASSETS
  

Tangible assets
 5 
-
4,009

  
-
4,009

CURRENT ASSETS
  

Stocks
  
-
1,000

Debtors: amounts falling due within one year
 6 
-
47,043

Cash at bank and in hand
 7 
1,391
4,540

  
1,391
52,583

Creditors: amounts falling due within one year
 8 
(12,835)
(203,971)

NET CURRENT LIABILITIES
  
 
 
(11,444)
 
 
(151,388)

  

NET LIABILITIES
  
(11,444)
(147,379)


CAPITAL AND RESERVES
  

Called up share capital 
  
1
1

Profit and loss account
  
(11,445)
(147,380)

  
(11,444)
(147,379)


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 17 March 2025.




I W Fraser
Director

The notes on pages 2 to 7 form part of these financial statements.

Page 1

 
SCOTT BROS REFINISHING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


GENERAL INFORMATION

Scott Bros Refinishing 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. 
The presentation currency of the financial statements is the Pound Sterling (£). 
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years unless otherwise stated. 

2.ACCOUNTING POLICIES

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The accounts have been prepared on a basis other than going concern. The non-current assets of the company were transferred into Scott Bros. Limited, a fellow subsidiary, at their net book value.
The remaining assets and liabilities are valued at their recoverable value.
The company has been dormant from 1 July 2024.

 
2.3

Revenue

Revenue in respect of services supplied by the company is measured at the fair value of the consideration received or receivable, net of VAT. When the outcome of a transaction can be estimated reliably, revenue from the rendering of services is recognised by reference to the stage of completion at the balance sheet date. 
The company undertakes shot blasting and paint spraying of large vehicles and bodies. 

Page 2

 
SCOTT BROS REFINISHING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.4

Taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


  
2.5

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. 

  
2.6

Pension costs and other post-retirement benefits

The company contributes to 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. 

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
SCOTT BROS REFINISHING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.ACCOUNTING POLICIES (CONTINUED)


2.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
25% on cost and 10% on cost.
Motor vehicles
-
25% on cost.

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate. 

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
SCOTT BROS REFINISHING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

3.


AUDITORS' REMUNERATION

During the year, the company obtained the following services from the company's auditors:


2024
2023
£
£

Fees payable to the company's auditors for the audit of the company's financial statements
2,450
2,750

The company has taken advantage of the exemption not to disclose amounts paid for non-audit services as these are disclosed in the consolidated accounts of the parent company.


4.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 2 (2023 - 4).


5.


TANGIBLE FIXED ASSETS





Plant and machinery
Motor vehicles
Total

£
£
£



Cost


At 1 July 2023
91,497
10,441
101,938


Transfers intra group
(91,497)
(10,441)
(101,938)



At 30 June 2024

-
-
-



Depreciation


At 1 July 2023
87,488
10,441
97,929


Transfers intra group
(87,488)
(10,441)
(97,929)



At 30 June 2024

-
-
-



Net book value



At 30 June 2024
-
-
-



At 30 June 2023
4,009
-
4,009

Page 5

 
SCOTT BROS REFINISHING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

6.


DEBTORS

2024
2023
£
£


Trade debtors
-
27,232

Prepayments and accrued income
-
17,442

Deferred taxation
-
2,369

-
47,043



7.


CASH AND CASH EQUIVALENTS

2024
2023
£
£

Cash at bank and in hand
1,391
4,540

1,391
4,540



8.


CREDITORS: Amounts falling due within one year

2024
2023
£
£

Trade creditors
-
34,710

Amounts owed to group undertakings
8,655
150,000

Other taxation and social security
-
6,832

Other creditors
-
474

Accruals and deferred income
4,180
11,955

12,835
203,971



9.


PENSION COMMITMENTS

The company contributes to a defined contribution pension scheme. The assets of the scheme are held separately from those of the company  in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £Nil (2023 - £2,100) . 


10.


CONTROLLING PARTY

The immediate and ultimate parent company is Scott Bros. Holdings Limited. The parent's registered office address is the same as that of the company. These financial statements are included in the consolidated financial statements of Scott Bros. Holdings Limited. 

Page 6

 
SCOTT BROS REFINISHING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

11.


AUDITORS' INFORMATION

The auditors' report on the financial statements for the year ended 30 June 2024 was unqualified.

The audit report was signed on 21 March 2025 by Paul Harrison MSc, BSc, FCA (senior statutory auditor) on behalf of Waltons Business Advisers Limited.

 
Page 7