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REGISTERED NUMBER: SC579442 (Scotland)















S M Services (Scotland) Ltd

Financial Statements For The Year Ended 31 October 2024






S M Services (Scotland) Ltd (Registered number: SC579442)






Contents of the Financial Statements
For The Year Ended 31 October 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


S M Services (Scotland) Ltd

Company Information
For The Year Ended 31 October 2024







DIRECTOR: Mr S G Mutch



REGISTERED OFFICE: 4 North Guildry Street
Elgin
Moray
IV30 1JR



REGISTERED NUMBER: SC579442 (Scotland)



ACCOUNTANTS: The Long Partnership
4 North Guildry Street
Elgin
Moray
IV30 1JR



BANKERS: Bank of Scotland
P O Box 17235
Edinburgh
EH11 1YH

S M Services (Scotland) Ltd (Registered number: SC579442)

Balance Sheet
31 October 2024

31.10.24 31.10.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 346,024 270,916

CURRENT ASSETS
Stocks 27,495 12,995
Debtors 5 55,205 21,971
Cash at bank 128,454 106,560
211,154 141,526
CREDITORS
Amounts falling due within one year 6 83,991 115,624
NET CURRENT ASSETS 127,163 25,902
TOTAL ASSETS LESS CURRENT
LIABILITIES

473,187

296,818

PROVISIONS FOR LIABILITIES 7 43,202 24,289
NET ASSETS 429,985 272,529

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 429,885 272,429
SHAREHOLDERS' FUNDS 429,985 272,529

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

S M Services (Scotland) Ltd (Registered number: SC579442)

Balance Sheet - continued
31 October 2024


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 director and authorised for issue on 2 May 2025 and were signed by:





Mr S G Mutch - Director


S M Services (Scotland) Ltd (Registered number: SC579442)

Notes to the Financial Statements
For The Year Ended 31 October 2024

1. STATUTORY INFORMATION

S M Services (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.

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.
Land and buildings - 10% on cost and not provided
Equipment - 33% on cost and 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 2 ) .

S M Services (Scotland) Ltd (Registered number: SC579442)

Notes to the Financial Statements - continued
For The Year Ended 31 October 2024

4. TANGIBLE FIXED ASSETS
Freehold Motor Computer
property Equipment vehicles equipment Totals
£    £    £    £    £   
COST
At 1 November 2023 158,458 95,091 97,703 758 352,010
Additions - 26,097 88,391 - 114,488
At 31 October 2024 158,458 121,188 186,094 758 466,498
DEPRECIATION
At 1 November 2023 470 52,353 27,513 758 81,094
Charge for year 700 14,860 23,820 - 39,380
At 31 October 2024 1,170 67,213 51,333 758 120,474
NET BOOK VALUE
At 31 October 2024 157,288 53,975 134,761 - 346,024
At 31 October 2023 157,988 42,738 70,190 - 270,916

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade debtors 50,361 18,817
Other debtors 4,844 3,154
55,205 21,971

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade creditors 1,395 2,990
Taxation and social security 81,031 51,678
Other creditors 1,565 60,956
83,991 115,624

7. PROVISIONS FOR LIABILITIES
31.10.24 31.10.23
£    £   
Deferred tax 43,202 24,289

Deferred
tax
£   
Balance at 1 November 2023 24,289
Provided during year 18,913
Balance at 31 October 2024 43,202

S M Services (Scotland) Ltd (Registered number: SC579442)

Notes to the Financial Statements - continued
For The Year Ended 31 October 2024

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.24 31.10.23
value: £    £   
100 Ordinary 1 100 100

9. RESERVES
Retained
earnings
£   

At 1 November 2023 272,429
Profit for the year 159,456
Dividends (2,000 )
At 31 October 2024 429,885

10. RELATED PARTY DISCLOSURES

During the year, total dividends of £2,000 were paid to the director .

At 1 November 2023 the company owed the director £28,227. During the year the company met expenses on behalf of the director totalling £28,087. At 31 October 2024 the company owed the director £140. This loan is interest free and has no fixed repayment terms.

At 31 October 2023 and 31 October 2024 the company was owed £1,107 from Mulben Motors Ltd, a company under common control. This loan is interest free and has no fixed repayment terms.