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Registration number: SC489276

Rocknowe Interiors Limited

trading as The Scottish Shutter Company

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 30 November 2024

 

Rocknowe Interiors Limited

trading as The Scottish Shutter Company

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Abridged Profit and Loss Account

4

Statement of Comprehensive Income

5

Abridged Balance Sheet

6 to 7

Statement of Changes in Equity

8

Notes to the Unaudited Abridged Financial Statements

9 to 17

 

Rocknowe Interiors Limited

trading as The Scottish Shutter Company

Company Information

Directors

Mr David Browne

Mrs June Browne

Mr David D'Ambrosio

Mrs Judith D'Ambrosio

Registered office

Unit 2 Ainslie Street
West Pifkerro Industrial Estate
Broughty Ferry
Dundee
DD5 3RR

Accountants

Krystal Clear Accounting
Westgate House
44 Hale Road
Ground Floor
Hale, Altrincham
Cheshire
WA14 2EX

 

Rocknowe Interiors Limited

trading as The Scottish Shutter Company

Directors' Report for the Year Ended 30 November 2024

The directors present their report and the abridged financial statements for the year ended 30 November 2024.

Directors of the company

The directors who held office during the year were as follows:

Mr David Browne

Mrs June Browne

Mr David D'Ambrosio

Mrs Judith D'Ambrosio

Principal activity

The principal activity of the company is supply and installation of custom made blinds

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 2 June 2025 and signed on its behalf by:
 

.........................................
Mr David Browne
Director

.........................................
Mrs June Browne
Director

.........................................
Mr David D'Ambrosio
Director

.........................................
Mrs Judith D'Ambrosio
Director

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Rocknowe Interiors Limited

trading as The Scottish Shutter Company
for the Year Ended 30 November 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Rocknowe Interiors Limited for the year ended 30 November 2024 as set out on pages 4 to 17 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Chartered Institute of Management Accountants, we are subject to its ethical and other professional requirements.

This report is made solely to the Board of Directors of Rocknowe Interiors Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Rocknowe Interiors Limited and state those matters that we have agreed to state to the Board of Directors of Rocknowe Interiors Limited. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Rocknowe Interiors Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Rocknowe Interiors Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Rocknowe Interiors Limited. You consider that Rocknowe Interiors Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Rocknowe Interiors Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Krystal Clear Accounting
Westgate House
44 Hale Road
Ground Floor
Hale, Altrincham
Cheshire
WA14 2EX

2 June 2025

 

Rocknowe Interiors Limited

trading as The Scottish Shutter Company

Abridged Profit and Loss Account for the Year Ended 30 November 2024

Note

2024
£

2023
£

Gross profit

 

714,763

529,540

Administrative expenses

 

(445,790)

(406,161)

Other interest receivable and similar income

 

707

851

Interest payable and similar expenses

 

(26,602)

(32,229)

Profit before tax

4

243,078

92,001

Tax on profit

 

(61,905)

(16,776)

Profit for the financial year

 

181,173

75,225

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Rocknowe Interiors Limited

trading as The Scottish Shutter Company

Statement of Comprehensive Income for the Year Ended 30 November 2024

2024
£

2023
£

Profit for the year

181,173

75,225

Total comprehensive income for the year

181,173

75,225

 

Rocknowe Interiors Limited

trading as The Scottish Shutter Company

(Registration number: SC489276)
Abridged Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

5

-

4,000

Tangible assets

6

282,735

293,955

 

282,735

297,955

Current assets

 

Stocks

7

10,000

10,000

Debtors

8

446,526

423,636

Cash at bank and in hand

 

20,503

50,858

 

477,029

484,494

Prepayments and accrued income

 

-

873

Creditors: Amounts falling due within one year

(335,088)

(278,358)

Net current assets

 

141,941

207,009

Total assets less current liabilities

 

424,676

504,964

Creditors: Amounts falling due after more than one year

(250,674)

(339,295)

Provisions for liabilities

(24,876)

(12,913)

Accruals and deferred income

 

(131,828)

(145,426)

Net assets

 

17,298

7,330

Capital and reserves

 

Called up share capital

9

200

200

Retained earnings

17,098

7,130

Shareholders' funds

 

17,298

7,330

For the financial year ending 30 November 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

 

Rocknowe Interiors Limited

trading as The Scottish Shutter Company

(Registration number: SC489276)
Abridged Balance Sheet as at 30 November 2024

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 2 June 2025 and signed on its behalf by:
 

.........................................
Mr David Browne
Director

.........................................
Mrs June Browne
Director

.........................................
Mr David D'Ambrosio
Director

.........................................
Mrs Judith D'Ambrosio
Director

 

Rocknowe Interiors Limited

trading as The Scottish Shutter Company

Statement of Changes in Equity for the Year Ended 30 November 2024

Share capital
£

Retained earnings
£

Total
£

At 1 December 2023

200

7,130

7,330

Profit for the year

-

181,173

181,173

Dividends

-

(171,205)

(171,205)

At 30 November 2024

200

17,098

17,298

Share capital
£

Retained earnings
£

Total
£

At 1 December 2022

200

1,655

1,855

Profit for the year

-

75,225

75,225

Dividends

-

(69,750)

(69,750)

At 30 November 2023

200

7,130

7,330

 

Rocknowe Interiors Limited

trading as The Scottish Shutter Company

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2024

1

General information

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

The address of its registered office is:
Unit 2 Ainslie Street
West Pifkerro Industrial Estate
Broughty Ferry
Dundee
DD5 3RR

These financial statements were authorised for issue by the Board on 2 June 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 abridged 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 abridged 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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

Tax

The tax expense for the period comprises current and deferred 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.

 

Rocknowe Interiors Limited

trading as The Scottish Shutter Company

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet 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

Plant and machinery

20% on cost

Leasehold Improvements

10% Straight line

Furniture and fittings

15% Reducing balance

Motor Vehicles

25% Reducing balance

Office equipment

33.33% on cost

Freehold Property

1% on cost

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

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

Goodwill

5 years straight line then £4000 per annum

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.

 

Rocknowe Interiors Limited

trading as The Scottish Shutter Company

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2024

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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 profit and loss account 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.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

 

Rocknowe Interiors Limited

trading as The Scottish Shutter Company

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2024

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 11 (2023 - 6).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

21,656

22,557

Amortisation expense

4,000

4,000

 

Rocknowe Interiors Limited

trading as The Scottish Shutter Company

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2024

5

Intangible assets

Total
£

Cost or valuation

At 1 December 2023

120,000

At 30 November 2024

120,000

Amortisation

At 1 December 2023

116,000

Amortisation charge

4,000

At 30 November 2024

120,000

Carrying amount

At 30 November 2024

-

At 30 November 2023

4,000

 

Rocknowe Interiors Limited

trading as The Scottish Shutter Company

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2024

6

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 December 2023

261,431

20,522

87,557

35,874

405,384

Additions

-

1,440

8,995

-

10,435

At 30 November 2024

261,431

21,962

96,552

35,874

415,819

Depreciation

At 1 December 2023

26,808

15,522

45,131

23,967

111,428

Charge for the year

4,276

1,170

14,040

2,170

21,656

At 30 November 2024

31,084

16,692

59,171

26,137

133,084

Carrying amount

At 30 November 2024

230,347

5,270

37,381

9,737

282,735

At 30 November 2023

234,623

5,000

42,425

11,907

293,955

Included within the net book value of land and buildings above is £223,565 (2023 - £225,995) in respect of freehold land and buildings and £6,782 (2023 - £8,628) in respect of long leasehold land and buildings.
 

 

Rocknowe Interiors Limited

trading as The Scottish Shutter Company

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2024

7

Stocks

2024
£

2023
£

Other inventories

10,000

10,000

8

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

Ordinary A of £1 each

45

45

45

45

Ordinary B of £1 each

45

45

45

45

Ordinary C of £1 each

5

5

5

5

Ordinary D of £1 each

5

5

5

5

200

200

200

200

10

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £1,072.00 (2023 - £310.00) per each Ordinary

107,210

31,000

Interim dividend of £422.00 (2023 - £188.89) per each Ordinary A

19,000

8,500

Interim dividend of £422.00 (2023 - £188.89) per each Ordinary B

19,000

8,500

Interim dividend of £3,257.00 (2023 - £1,850.00) per each Ordinary C

16,286

9,250

Interim dividend of £1,942.00 (2023 - £2,500.00) per each Ordinary D

9,709

12,500

171,205

69,750

11

Related party transactions

 

Rocknowe Interiors Limited

trading as The Scottish Shutter Company

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2024

Transactions with directors

2024

At 1 December 2023
£

Advances to director
£

At 30 November 2024
£

Mr David Browne

Loan

71,187

4,596

75,783

2023

At 1 December 2022
£

Advances to director
£

At 30 November 2023
£

Mr David Browne

Loan

59,398

11,789

71,187

 

Rocknowe Interiors Limited

trading as The Scottish Shutter Company

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2024

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

41,000

52,072

Summary of transactions with entities with joint control or significant interest

As at 30/11/2024 £28,075 was owed to Rocknowe Consulting Ltd - a company in which B.Browne and J.Browne are directors.