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REGISTERED NUMBER: SC495787 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2025

for

Research Scotland Ltd

Research Scotland Ltd (Registered number: SC495787)






Contents of the Financial Statements
for the Year Ended 31 March 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Research Scotland Ltd

Company Information
for the Year Ended 31 March 2025







DIRECTOR: Mrs Katy MacMillan





REGISTERED OFFICE: 3 Corsehill Place
Ayr
KA7 2SU





REGISTERED NUMBER: SC495787 (Scotland)





ACCOUNTANTS: Stevenson & Kyles
Chartered Accountants
25 Sandyford Place
Glasgow
G3 7NG

Research Scotland Ltd (Registered number: SC495787)

Balance Sheet
31 March 2025

2025 2024
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 56,531 63,095

CURRENT ASSETS
Debtors 5 22,896 31,650
Cash at bank and in hand 66,321 52,523
89,217 84,173
CREDITORS
Amounts falling due within one year 6 42,180 33,010
NET CURRENT ASSETS 47,037 51,163
TOTAL ASSETS LESS CURRENT
LIABILITIES

103,568

114,258

PROVISIONS FOR LIABILITIES 7 6,918 6,504
NET ASSETS 96,650 107,754

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 96,550 107,654
SHAREHOLDERS' FUNDS 96,650 107,754

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

Research Scotland Ltd (Registered number: SC495787)

Balance Sheet - continued
31 March 2025


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 14 April 2025 and were signed by:





Mrs Katy MacMillan - Director


Research Scotland Ltd (Registered number: SC495787)

Notes to the Financial Statements
for the Year Ended 31 March 2025

1. STATUTORY INFORMATION

Research Scotland 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fittings and equipment - 25% on cost and 15% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 25% on cost

Financial instruments
Basic financial instruments, including debtors and creditors with no stated interest rate and receivable or payable within one year, are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

Taxation
Taxation for the year 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.


Research Scotland Ltd (Registered number: SC495787)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

2. ACCOUNTING POLICIES - continued
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 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.

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.

Grant income
Where applicable, grants from the government are recognised at their fair value where there is a reasonable assurance that the grant will be received and that the company will comply with all attached conditions. Where the grant income relates to a particular expense item, the grant income is recognised in the profit and loss account over the same period as the expense it is intended to compensate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fittings
Heritable and Motor Computer
property equipment vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2024 28,860 2,677 66,365 9,648 107,550
Additions - - 750 - 750
At 31 March 2025 28,860 2,677 67,115 9,648 108,300
DEPRECIATION
At 1 April 2024 - 2,112 33,997 8,346 44,455
Charge for year - 85 6,623 606 7,314
At 31 March 2025 - 2,197 40,620 8,952 51,769
NET BOOK VALUE
At 31 March 2025 28,860 480 26,495 696 56,531
At 31 March 2024 28,860 565 32,368 1,302 63,095

Research Scotland Ltd (Registered number: SC495787)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 22,896 31,650

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Taxation and social security 18,623 25,922
Other creditors 23,557 7,088
42,180 33,010

7. PROVISIONS FOR LIABILITIES
2025 2024
£    £   
Deferred tax 6,918 6,504

Deferred
tax
£   
Balance at 1 April 2024 6,504
Provided during year 414
Balance at 31 March 2025 6,918

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2025 2024
value: £    £   
100 Ordinary £1 100 100

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mrs Katy MacMillan.