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REGISTERED NUMBER: SC791050 (Scotland)








































Scotia Works Limited

Unaudited Financial Statements

for the period

30th November 2023 to 30th November 2024






Scotia Works Limited (Registered number: SC791050)






Contents of the Financial Statements
for the period 30th November 2023 to 30th November 2024




Page

Company information 1

Balance sheet 2 to 3

Notes to the financial statements 4 to 6


Scotia Works Limited

Company Information
for the period 30th November 2023 to 30th November 2024







Director: Mrs K Kelly





Registered office: Academy House
Shedden Park Road
Kelso
Roxburghshire
TD5 7AL





Business address: Unit 3
Tweedside Industrial Estate
Tweedmouth
Berwick-Upon-Tweed
TD15 2XF





Registered number: SC791050 (Scotland)





Accountants: Rennie Welch LLP
Academy House
Shedden Park Road
Kelso
Roxburghshire
TD5 7AL

Scotia Works Limited (Registered number: SC791050)

Balance Sheet
30th November 2024

Notes £    £   
Fixed assets
Intangible assets 4 2,375
Tangible assets 5 36,750
39,125

Current assets
Stocks 5,000
Debtors 6 31,140
Cash at bank 19,144
55,284
Creditors
Amounts falling due within one year 7 72,821
Net current liabilities (17,537 )
Total assets less current liabilities 21,588

Provisions for liabilities 6,983
Net assets 14,605

Capital and reserves
Called up share capital 140
Share premium 49,960
Retained earnings (35,495 )
14,605

Scotia Works Limited (Registered number: SC791050)

Balance Sheet - continued
30th November 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30th November 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 30th November 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 2nd April 2025 and were signed by:





Mrs K Kelly - Director


Scotia Works Limited (Registered number: SC791050)

Notes to the Financial Statements
for the period 30th November 2023 to 30th November 2024

1. Statutory information

Scotia Works Limited 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.

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.

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

The company recognises revenue when the following conditions are satisfied:
- the significant risks and rewards of ownership have been transferred to the buyer.
- the company retains no continuing involvement or control over the goods.
- the amount of revenue can be measured reliably.
- it is probable that future economic benefit will flow to the entity.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Computer equipment - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 15% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Stocks
Stock is valued at the lower of cost and estimated selling price less costs to sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of completion.

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, accruals and directors' loans.

Directors' loans (being repayable on demand), trade debtors, trade creditors and accruals are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.


Scotia Works Limited (Registered number: SC791050)

Notes to the Financial Statements - continued
for the period 30th November 2023 to 30th November 2024

2. Accounting policies - continued
Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 period 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.

Provisions
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.

Employee benefits
Short term employee benefits, including holiday pay, are recognised as an expense in the Statement of Income and Retained Earnings in the period in which they are incurred.

Going concern
The director has considered the company's financial position for a period of 12 months from the date of signing these financial statements. This is the first period of account in which the company commenced trading and has generated a loss to the period ended 30th November 2024. The company has however presented a net asset position at the period end and the director believes the loss making period to be a short term arrangement whilst the business becomes established and continues to operate in the industry. On this basis, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they have adopted the going concern basis in preparing the company's first set of financial statements.

3. Employees and directors

The average number of employees during the period was 6 .

Scotia Works Limited (Registered number: SC791050)

Notes to the Financial Statements - continued
for the period 30th November 2023 to 30th November 2024

4. Intangible fixed assets
Computer
software
£   
Cost
Additions 2,500
At 30th November 2024 2,500
Amortisation
Amortisation for period 125
At 30th November 2024 125
Net book value
At 30th November 2024 2,375

5. Tangible fixed assets
Plant and Computer Motor Office
machinery equipment vehicles equipment Totals
£    £    £    £    £   
Cost
Additions 37,890 644 1,300 429 40,263
At 30th November 2024 37,890 644 1,300 429 40,263
Depreciation
Charge for period 3,259 32 217 5 3,513
At 30th November 2024 3,259 32 217 5 3,513
Net book value
At 30th November 2024 34,631 612 1,083 424 36,750

6. Debtors: amounts falling due within one year
£   
Trade debtors 26,047
Other debtors 5,093
31,140

7. Creditors: amounts falling due within one year
£   
Trade creditors 47,780
Taxation and social security 13,004
Other creditors 12,037
72,821