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2023-10-01
Sage Accounts Production Advanced 2023 - FRS102_2023
xbrli:pure
xbrli:shares
iso4217:GBP
SC270149
2023-10-01
2024-09-30
SC270149
2024-09-30
SC270149
2023-09-30
SC270149
2022-10-01
2023-09-30
SC270149
2023-09-30
SC270149
2022-09-30
SC270149
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2024-09-30
SC270149
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2024-09-30
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2024-09-30
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SC270149
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2024-09-30
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2024-09-30
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2023-09-30
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2024-09-30
SC270149
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2023-09-30
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2024-09-30
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2024-09-30
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2023-09-30
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2024-09-30
SC270149
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2023-09-30
SC270149
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2024-09-30
SC270149
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2023-09-30
SC270149
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2024-09-30
SC270149
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2024-09-30
SC270149
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2023-09-30
SC270149
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2024-09-30
SC270149
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2023-09-30
SC270149
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2024-09-30
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2024-09-30
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2024-09-30
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2024-09-30
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2024-09-30
SC270149
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SC270149
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2023-10-01
2024-09-30
COMPANY REGISTRATION NUMBER:
SC270149
|
Filleted Unaudited Abridged Financial Statements |
|
|
Abridged Financial Statements |
|
Year ended 30 September 2024
|
Officers and professional advisers |
1 |
|
|
|
Abridged statement of financial position |
2 |
|
|
|
Notes to the abridged financial statements |
4 |
|
|
|
Officers and Professional Advisers |
|
|
Director |
Mr. K.D. Crawford |
|
|
|
Company secretary |
C A Crawford |
|
|
|
Registered office |
Stannergate House |
|
41 Dundee Road West |
|
Broughty Ferry |
|
Dundee |
|
DD5 1NB |
|
|
|
Accountants |
BK Plus Limited |
|
Chartered Certified Accountants |
|
Stannergate House |
|
41 Dundee Road West |
|
Broughty Ferry |
|
Dundee |
|
DD5 1NB |
|
|
|
Bankers |
The Bank of Scotland plc |
|
Queens Cross Branch |
|
3 - 5 Albyn Place |
|
Aberdeen |
|
AB10 1PY |
|
|
|
Abridged Statement of Financial Position |
|
30 September 2024
Fixed assets
|
Tangible assets |
7 |
|
182,734 |
201,337 |
|
Investments |
8 |
|
748,440 |
748,440 |
|
|
--------- |
--------- |
|
|
931,174 |
949,777 |
|
|
|
|
|
Current assets
|
Debtors |
237,826 |
|
218,586 |
|
Cash at bank and in hand |
39,876 |
|
74,087 |
|
--------- |
|
--------- |
|
277,702 |
|
292,673 |
|
|
|
|
|
Creditors: amounts falling due within one year |
359,438 |
|
353,303 |
|
--------- |
|
--------- |
|
Net current liabilities |
|
81,736 |
60,630 |
|
|
--------- |
--------- |
|
Total assets less current liabilities |
|
849,438 |
889,147 |
|
|
|
|
|
Creditors: amounts falling due after more than one year |
|
46,482 |
27,754 |
|
|
|
|
Provisions for liabilities
|
Taxation including deferred tax |
|
(
1,218) |
(
1,012) |
|
|
--------- |
--------- |
|
Net assets |
|
804,174 |
862,405 |
|
|
--------- |
--------- |
|
|
|
|
Capital and reserves
|
Called up share capital |
10 |
|
74,822 |
74,822 |
|
Other reserves |
|
187,653 |
187,653 |
|
Profit and loss account |
11 |
|
541,699 |
599,930 |
|
|
--------- |
--------- |
|
Shareholders funds |
|
804,174 |
862,405 |
|
|
--------- |
--------- |
|
|
|
|
|
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
.
|
Abridged Statement of Financial Position (continued) |
|
30 September 2024
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 30 September 2024 in accordance with Section 444(2A) of the Companies Act 2006.
These abridged financial statements were approved by the
board of directors
and authorised for issue on
29 May 2025
, and are signed on behalf of the board by:
|
Mr. K.D. Crawford |
|
|
Director |
|
|
|
Company registration number:
SC270149
|
Notes to the Abridged Financial Statements |
|
Year ended 30 September 2024
1.
General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Stannergate House, 41 Dundee Road West, Broughty Ferry, Dundee, DD5 1NB.
2.
Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The Board of Directors confirms that, after making appropriate enquiries, it has reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, it continues to adopt the going concern basis in preparing these Financial Statements.
Consolidation
The company has taken advantage of the option not to prepare consolidated abridged financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the Statement of Financial Position date and the amounts reported during the year for revenue and costs. However, the nature of estimation means that actual outcomes could differ from those estimates. Estimates and judgements are continually evaluated and are based on the historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
The turnover shown in the profit and loss accounts represents amounts invoiced to the subsidiary for management services during the year, exclusive of Value Added Tax.
Corporation tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Fixture & Fittings |
- |
10-25% straight line |
|
Motor Vehicles |
- |
20% straight line |
|
|
|
|
Investments Investments comprise of shares held in a subsidiary company. The investments are held at cost less any accumulated impairment losses.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.
Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.
Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the abridged statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the abridged statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
1
(2023:
2
).
5.
Tax on profit
Major components of tax expense/(income)
Current tax:
|
UK current tax expense |
2,340 |
– |
|
|
|
Deferred tax:
|
Origination and reversal of timing differences |
(
206) |
(
9,315) |
|
------- |
------- |
|
Tax on profit |
2,134 |
(
9,315) |
|
------- |
------- |
|
|
|
6.
Dividends
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year):
|
2024 |
2023 |
|
£ |
£ |
|
Equity dividends on ordinary shares |
75,000 |
80,000 |
|
-------- |
-------- |
|
|
|
7.
Tangible assets
|
£ |
|
Cost |
|
|
At 1 October 2023 |
212,776 |
|
Additions |
98,951 |
|
Disposals |
(
123,627) |
|
--------- |
|
At 30 September 2024 |
188,100 |
|
--------- |
|
Depreciation |
|
|
At 1 October 2023 |
11,439 |
|
Charge for the year |
14,929 |
|
Disposals |
(
21,002) |
|
--------- |
|
At 30 September 2024 |
5,366 |
|
--------- |
|
Carrying amount |
|
|
At 30 September 2024 |
182,734 |
|
--------- |
|
At 30 September 2023 |
201,337 |
|
--------- |
|
|
8.
Investments
|
£ |
|
Cost |
|
|
At 1 October 2023 and 30 September 2024 |
748,440 |
|
--------- |
|
Impairment |
|
|
At 1 October 2023 and 30 September 2024 |
– |
|
--------- |
|
Carrying amount |
|
|
At 30 September 2024 |
748,440 |
|
--------- |
|
At 30 September 2023 |
748,440 |
|
--------- |
|
|
9.
Deferred tax
The deferred tax included in the abridged statement of financial position is as follows:
|
2024 |
2023 |
|
£ |
£ |
|
Included in provisions for liabilities |
(
1,218) |
(
1,012) |
|
------- |
------- |
|
|
|
The deferred tax account consists of the tax effect of timing differences in respect of:
|
2024 |
2023 |
|
£ |
£ |
|
Accelerated capital allowances |
(
1,218) |
(
1,012) |
|
------- |
------- |
|
|
|
10.
Called up share capital
Issued, called up and fully paid
|
2024 |
2023 |
|
No. |
£ |
No. |
£ |
|
Ordinary shares of £ 0.01 each |
7,482,200 |
74,822 |
7,482,200 |
74,822 |
|
------------ |
-------- |
------------ |
-------- |
|
|
|
|
|
11.
Reserves
Share premium account - This reserve records the amount above the nominal value received for shares sold, less transaction costs. Capital redemption reserve - This reserve records the nominal value of shares repurchased by the company. Profit and loss account - This reserve records retained earnings and accumulated losses.
12.
Director's advances, credits and guarantees
At the year end, the company was due to repay a director £6,273 (2023 - £5,780). There are no set repayment terms and no interest is being charged on the amount outstanding
.
13.
Related party transactions
The company has taken advantage of the exemptions available per the provisions of FRS 102 not to disclose details of transactions with fellow group companies on the basis the subsidiary company is wholly owned and the company is a wholly owned subsidiary of Evotek Holdings Limited. Pacson Limited is associated with the company as it is under common control. During the year, the company recharged amounts totalling £1,380 (2023 - £446) to Pacson Limited, and advanced funds to Pacson Limited of £10,000 (2023 - £40,000). During the year, the company received funds totalling £nil (2023 - £1,381) from Pacson Limited. At the year-end, the company was due to receive £191,163 (2023 - £176,241) from Pacson Limited. Carraigean Limited is a related entity of the company. During the year, the company made payments on behalf of Carraigean Limited totalling £4,318 (2023 - £3,707). At the year-end the company was due to receive £25,163 (2023 - £20,845) from Carraigean Limited.
14.
Controlling party
The ultimate parent company is
Evotek Holdings Limited,
a company registered in Scotland.