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REGISTERED NUMBER: SC056473 (Scotland)















FAST-AID PRODUCTS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024






FAST-AID PRODUCTS LIMITED (REGISTERED NUMBER: SC056473)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


FAST-AID PRODUCTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: M Anderson
N Cooke
D Loudon



REGISTERED OFFICE: 24/3 Dryden Road
Loanhead
Midlothian
EH20 9HX



REGISTERED NUMBER: SC056473 (Scotland)



AUDITORS: McAleer Jackson Ltd
Chartered Accountants & Statutory Auditors
Church House
24 Dublin Road
OMAGH
Co. Tyrone
BT78 1HE



BANKERS: Ulster Bank
11-16 Donegall Square East
BELFAST
BT1 5UB

FAST-AID PRODUCTS LIMITED (REGISTERED NUMBER: SC056473)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 5 23,677 -

CURRENT ASSETS
Stocks 233,760 307,957
Debtors 6 236,443 409,118
Cash at bank 635,316 565,413
1,105,519 1,282,488
CREDITORS
Amounts falling due within one year 7 475,743 638,848
NET CURRENT ASSETS 629,776 643,640
TOTAL ASSETS LESS CURRENT
LIABILITIES

653,453

643,640

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 653,353 643,540
SHAREHOLDERS' FUNDS 653,453 643,640

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 8 May 2025 and were signed on its behalf by:




N Cooke - Director M Anderson - Director




D Loudon - Director


FAST-AID PRODUCTS LIMITED (REGISTERED NUMBER: SC056473)

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

1. STATUTORY INFORMATION

Fast-Aid Products 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.

The financial statements are prepared in sterling which is the functional currency of the company.

Significant judgements and estimates
In the directors' opinions, there are no significant judgements, estimates and assumptions made about the recognition of assets, liabilities, incomes and expenses, other than those included within the accounting policies at note 2.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. It is recognised when goods have been delivered to customers such that the risks and rewards of ownership have been transferred to them.

Tangible fixed assets
Tangible fixed assets are stated at cost or valuation, net of depreciation and any provisions for impairment.

Depreciation is provided at the following rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Motor vehicles - 25% reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell.

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 balance sheet date.


FAST-AID PRODUCTS LIMITED (REGISTERED NUMBER: SC056473)

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

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.

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.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transactional price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2023 - 18 ) .

4. AUDITORS' REMUNERATION
2024 2023
£    £   
Fees payable to the company's auditors for the audit of the
company's financial statements

10,000

9,260

FAST-AID PRODUCTS LIMITED (REGISTERED NUMBER: SC056473)

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

5. TANGIBLE FIXED ASSETS
Motor
vehicles
£   
COST
Additions 31,570
At 31 December 2024 31,570
DEPRECIATION
Charge for year 7,893
At 31 December 2024 7,893
NET BOOK VALUE
At 31 December 2024 23,677

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 163,483 325,835
Other debtors 72,960 83,283
236,443 409,118

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 305,305 431,484
Taxation and social security 10,311 26,662
Other creditors 160,127 180,702
475,743 638,848

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

MICHAEL BARNETT (Senior Statutory Auditor)
for and on behalf of McAleer Jackson Ltd

9. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

FAST-AID PRODUCTS LIMITED (REGISTERED NUMBER: SC056473)

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

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr Nick Cooke, the majority shareholder of the company's ultimate parent company, John Preston & Co. (Holdings).