Registration number: SC616488

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Contents

Statement of Financial Position	1 to 2
Notes to the Unaudited Financial Statements	3 to 10

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(Registration number: SC616488)
Statement of Financial Position as at 31 December 2024

	Note	2024 £	2022 £
Fixed assets
Intangible assets	4	40,687	4,280
Tangible assets	5	2,808	2,711
Investments	6	250,009	256,600
		293,504	263,591
Current assets
Debtors	7	1,627,824	1,133,773
Cash at bank and in hand		1,307,023	1,220,560
		2,934,847	2,354,333
Creditors: Amounts falling due within one year	8	(995,276)	(713,641)
Net current assets		1,939,571	1,640,692
Total assets less current liabilities		2,233,075	1,904,283
Creditors: Amounts falling due after more than one year	8	(4,167)	(19,375)
Net assets		2,228,908	1,884,908
Capital and reserves
Called up share capital	9	16	16
Retained earnings		2,228,892	1,884,892
Shareholders' funds		2,228,908	1,884,908

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:

•	The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The Directors acknowledge their responsibilities for complying with the requirements of the Act 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. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Income Statement.

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(Registration number: SC616488)
Statement of Financial Position as at 31 December 2024

Approved and authorised by the Board on 26 March 2025 and signed on its behalf by:
 

......................................... Mrs Katrina Hutchinson-ONeill Director

......................................... Mr Gareth O'Neill Director

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Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	General information

The Company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
Townhead
St Andrews Street
Brechin
DD9 6JJ

These financial statements were authorised for issue by the Board on 26 March 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

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Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Computer Equipment	50% straight line
Furniture	20% straight line

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Website	50% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

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Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

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Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual agreement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
 

3	Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 70 (2023 - 88).

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Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4	Intangible assets

	Other intangible assets  £	Total £
Cost or valuation
At 1 January 2024	18,610	18,610
Additions acquired separately	81,374	81,374
At 31 December 2024	99,984	99,984
Amortisation
At 1 January 2024	14,330	14,330
Amortisation charge	44,967	44,967
At 31 December 2024	59,297	59,297
Carrying amount
At 31 December 2024	40,687	40,687
At 31 December 2023	4,280	4,280

5	Tangible assets

	Furniture £	Office equipment £	Total £
Cost or valuation
At 1 January 2024	3,824	31,541	35,365
Additions	-	1,723	1,723
At 31 December 2024	3,824	33,264	37,088
Depreciation
At 1 January 2024	1,113	31,541	32,654
Charge for the year	765	861	1,626
At 31 December 2024	1,878	32,402	34,280
Carrying amount
At 31 December 2024	1,946	862	2,808
At 31 December 2023	2,711	-	2,711

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Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

6	Other financial assets (current and non-current)

	Investments £	Total £
Investments
Cost or valuation
At 1 January 2024	256,600	256,600
Additions	9	9
Disposals	(6,600)	(6,600)
At 31 December 2024	250,009	250,009
Impairment
Carrying amount
At 31 December 2024	250,009	250,009

The company has an investment of 3.76% of the share capital in Real Links Limited (10570135). The company has an investment of 90% of the share capital in Thinkspike Ltd (SC811216). This company has only recently been incorporated and the first year's accounts have not been produced.

7

Debtors

Current	Note	2024 £	2023 £
Trade debtors		1,137,756	605,405
Amounts owed by related parties	11	167,607	-
Prepayments		182,148	256,938
Other debtors		140,313	271,430
		1,627,824	1,133,773

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Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

8

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2022 £
Due within one year
Loans and borrowings	10	15,208	22,500
Trade creditors		30,922	198,706
Taxation and social security		740,936	352,116
Accruals and deferred income		136,973	124,290
Other creditors		71,237	16,029
		995,276	713,641