Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false2024-01-01falseNo description of principal activity32truetrue SC312869 2024-01-01 2024-12-31 SC312869 2023-01-01 2023-12-31 SC312869 2024-12-31 SC312869 2023-12-31 SC312869 c:CompanySecretary1 2024-01-01 2024-12-31 SC312869 c:Director1 2024-01-01 2024-12-31 SC312869 c:Director2 2024-01-01 2024-12-31 SC312869 c:RegisteredOffice 2024-01-01 2024-12-31 SC312869 d:PlantMachinery 2024-01-01 2024-12-31 SC312869 d:PlantMachinery 2024-12-31 SC312869 d:PlantMachinery 2023-12-31 SC312869 d:PlantMachinery d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 SC312869 d:MotorVehicles 2024-01-01 2024-12-31 SC312869 d:MotorVehicles 2024-12-31 SC312869 d:MotorVehicles 2023-12-31 SC312869 d:MotorVehicles d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 SC312869 d:OfficeEquipment 2024-01-01 2024-12-31 SC312869 d:OfficeEquipment 2024-12-31 SC312869 d:OfficeEquipment 2023-12-31 SC312869 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 SC312869 d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 SC312869 d:CurrentFinancialInstruments 2024-12-31 SC312869 d:CurrentFinancialInstruments 2023-12-31 SC312869 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 SC312869 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 SC312869 d:ShareCapital 2024-12-31 SC312869 d:ShareCapital 2023-12-31 SC312869 d:RetainedEarningsAccumulatedLosses 2024-12-31 SC312869 d:RetainedEarningsAccumulatedLosses 2023-12-31 SC312869 c:OrdinaryShareClass1 2024-01-01 2024-12-31 SC312869 c:OrdinaryShareClass1 2024-12-31 SC312869 c:OrdinaryShareClass1 2023-12-31 SC312869 c:FRS102 2024-01-01 2024-12-31 SC312869 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 SC312869 c:FullAccounts 2024-01-01 2024-12-31 SC312869 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 SC312869 2 2024-01-01 2024-12-31 SC312869 e:PoundSterling 2024-01-01 2024-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC312869










THRUMS ENGINEERING SERVICES LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

 
THRUMS ENGINEERING SERVICES LIMITED
 

COMPANY INFORMATION


DIRECTORS
The Estate of Mr J Ogston 
Mrs L Ogston 




COMPANY SECRETARY
Mrs L Ogston



REGISTERED NUMBER
SC312869



REGISTERED OFFICE
Welton Cottage
Kingoldrum

Kirriemuir

Angus

DD8 5HY




ACCOUNTANTS
EQ Accountants Limited
Chartered Accountants

Westby

64 West High Street

Forfar

Angus

DD8 1BJ





 
THRUMS ENGINEERING SERVICES LIMITED
REGISTERED NUMBER: SC312869

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

FIXED ASSETS
  

Tangible assets
 4 
188,647
126,470

  
188,647
126,470

CURRENT ASSETS
  

Stocks
  
15,000
23,000

Debtors: amounts falling due within one year
 5 
334,543
375,512

Cash at bank and in hand
  
140,991
197,596

  
490,534
596,108

Creditors: amounts falling due within one year
 6 
(42,742)
(79,768)

NET CURRENT ASSETS
  
 
 
447,792
 
 
516,340

TOTAL ASSETS LESS CURRENT LIABILITIES
  
636,439
642,810

PROVISIONS FOR LIABILITIES
  

Deferred tax
  
(47,162)
(31,358)

  
 
 
(47,162)
 
 
(31,358)

NET ASSETS
  
589,277
611,452


CAPITAL AND RESERVES
  

Called up share capital 
 7 
100
100

Profit and loss account
  
589,177
611,352

  
589,277
611,452


Page 1

 
THRUMS ENGINEERING SERVICES LIMITED
REGISTERED NUMBER: SC312869

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 2 July 2025.




Mrs L Ogston
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
THRUMS ENGINEERING SERVICES LIMITED
 

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

1.


GENERAL INFORMATION

Thrums Engineering Serviced Limited is a private company, limited by shares, incorporated in Scotland, with the registration number SC312869. The registered office is Welton Cottage, Kingoldrum, Kirriemuir, DD8 5HY.
The Company's functional and presentational curency is GBP.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
THRUMS ENGINEERING SERVICES LIMITED
 

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

2.ACCOUNTING POLICIES (CONTINUED)

 
2.3

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25% Reducing balance
Motor vehicles
-
25% Reducing balance
Office equipment
-
25% Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

STOCKS

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is 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.

 
2.5

FINANCIAL INSTRUMENTS

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.6

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.

 
2.7

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

Page 4

 
THRUMS ENGINEERING SERVICES LIMITED
 

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

2.ACCOUNTING POLICIES (CONTINUED)

 
2.8

PROVISIONS FOR LIABILITIES

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.9

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.



3.


EMPLOYEES

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

Page 5

 
THRUMS ENGINEERING SERVICES LIMITED
 

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

4.


TANGIBLE FIXED ASSETS





Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£



COST OR VALUATION


At 1 January 2024
564,525
88,055
9,946
662,526


Additions
116,143
-
-
116,143


Disposals
(71,999)
-
-
(71,999)



At 31 December 2024

608,669
88,055
9,946
706,670



DEPRECIATION


At 1 January 2024
449,015
77,702
9,339
536,056


Charge for the year on owned assets
40,913
2,491
151
43,555


Disposals
(61,588)
-
-
(61,588)



At 31 December 2024

428,340
80,193
9,490
518,023



NET BOOK VALUE



At 31 December 2024
180,329
7,862
456
188,647



At 31 December 2023
115,510
10,353
607
126,470


5.


DEBTORS

2024
2023
£
£


Trade debtors
5,382
74,157

Amounts owed by joint ventures and associated undertakings
285,798
295,177

Other debtors
41,853
869

Prepayments and accrued income
1,510
5,309

334,543
375,512


Page 6

 
THRUMS ENGINEERING SERVICES LIMITED
 

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

6.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Trade creditors
36,218
25,138

Other taxation and social security
2,764
36,985

Obligations under finance lease and hire purchase contracts
-
2,871

Other creditors
-
11,054

Accruals and deferred income
3,760
3,720

42,742
79,768



7.


SHARE CAPITAL

2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



Page 7