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REGISTERED NUMBER: SC290884 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

RED HOT CHILLI PIPERS LTD.

RED HOT CHILLI PIPERS LTD. (REGISTERED NUMBER: SC290884)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


RED HOT CHILLI PIPERS LTD.

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: K MacDonald
W G Armstrong
M McEwan
S Richmond





REGISTERED OFFICE: Block 4 Midfield Road
Mitchelston Industrial Estate
Kirkcaldy
KY1 3PS





REGISTERED NUMBER: SC290884 (Scotland)





ACCOUNTANTS: MacDonald Morton Ltd
Chartered Accountants
67 March Road
Edinburgh
EH4 3SU

RED HOT CHILLI PIPERS LTD. (REGISTERED NUMBER: SC290884)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 141,585 56,365
Investments 5 91 91
141,676 56,456

CURRENT ASSETS
Stocks 44,850 30,575
Debtors 6 246,234 268,001
Cash at bank and in hand 35,920 53,575
327,004 352,151
CREDITORS
Amounts falling due within one year 7 220,787 286,555
NET CURRENT ASSETS 106,217 65,596
TOTAL ASSETS LESS CURRENT
LIABILITIES

247,893

122,052

CREDITORS
Amounts falling due after more than one year 8 (220,473 ) (40,150 )

PROVISIONS FOR LIABILITIES (12,623 ) (12,543 )
NET ASSETS 14,797 69,359

CAPITAL AND RESERVES
Called up share capital 70 70
Capital redemption reserve 30 30
Retained earnings 14,697 69,259
SHAREHOLDERS' FUNDS 14,797 69,359

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

RED HOT CHILLI PIPERS LTD. (REGISTERED NUMBER: SC290884)

STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 2024


The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 31 March 2025 and were signed on its behalf by:





K MacDonald - Director


RED HOT CHILLI PIPERS LTD. (REGISTERED NUMBER: SC290884)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1. STATUTORY INFORMATION

Red Hot Chilli Pipers Ltd. is a private company, limited by shares , registered in Scotland. 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 (£).


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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
The directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant, actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods. Key accounting judgements include:

The company undertakes service contracts which take place over a period of time and revenue and profits are recognised as the contracts progress. The extent to which the contract revenue and profits have been earned involve estimating a percentage of completion under ongoing contracts which is based on costs incurred as a proportion of total estimated costs. Management base this assessment on detailed costings and progress reports and their experience of similar contracts in the past. Adjustments are made to reflect any after date events which have a significant impact on the final outcomes expected to be achieved on contracts.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax, except in respect of service contracts where turnover is recognised when the company obtains the right to consideration.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Website - 33% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

Investments in associates
Investments in associate undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

RED HOT CHILLI PIPERS LTD. (REGISTERED NUMBER: SC290884)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial assets and liabilities are recognised when the company becomes party to the contractual provisions of the financial instrument. The company holds the following basic financial instruments.

Financial assets
Cash and cash equivalents - comprise cash in hand and deposits held with banks.

Trade and other debtors are initially measured at the undiscounted amounts receivable from a customer, which is normally the invoiced price. Trade and other debtors are assessed at the end of each reporting period for objective evidence of impairment. If such evidence is found an impairment loss is recognised.

Financial liabilities
Trade and other creditors are initially measured at the transaction price, including any transaction costs.

Directors loans are initially measured at the transaction price and are subsequently measured at the undiscounted amount of the cash expected to be paid within the appropriate period of creditors falling due within one year and creditors falling due after more than one year.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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 company operates 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 8 ) .

RED HOT CHILLI PIPERS LTD. (REGISTERED NUMBER: SC290884)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery Website vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2024 133,394 20,120 5,500 45,861 204,875
Additions 3,619 - 103,990 - 107,609
At 31 December 2024 137,013 20,120 109,490 45,861 312,484
DEPRECIATION
At 1 January 2024 88,318 16,492 5,042 38,658 148,510
Charge for year 9,390 3,628 6,971 2,400 22,389
At 31 December 2024 97,708 20,120 12,013 41,058 170,899
NET BOOK VALUE
At 31 December 2024 39,305 - 97,477 4,803 141,585
At 31 December 2023 45,076 3,628 458 7,203 56,365

5. FIXED ASSET INVESTMENTS
Interest
in
associate
£   
COST
At 1 January 2024
and 31 December 2024 91
NET BOOK VALUE
At 31 December 2024 91
At 31 December 2023 91

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 146,781 131,141
Other debtors 99,453 136,860
246,234 268,001

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans and overdrafts 58,896 24,992
Hire purchase contracts 18,438 -
Payments on account 32,192 26,237
Trade creditors 70,991 19,786
Taxation and social security 1,139 17,896
Other creditors 39,131 197,644
220,787 286,555

RED HOT CHILLI PIPERS LTD. (REGISTERED NUMBER: SC290884)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.24 31.12.23
£    £   
Bank loans 149,410 40,150
Hire purchase contracts 71,063 -
220,473 40,150

9. SECURED DEBTS

The following secured debts are included within creditors:

31.12.24 31.12.23
£    £   
Bank loans 208,306 65,142
Hire purchase contracts 89,501 -
297,807 65,142