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REGISTERED NUMBER: SC612379 (Scotland)















Unaudited Financial Statements for the Year Ended 30 November 2024

for

PLOUGH TRADING LTD

PLOUGH TRADING LTD (REGISTERED NUMBER: SC612379)

Contents of the Financial Statements
for the Year Ended 30 November 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PLOUGH TRADING LTD

Company Information
for the Year Ended 30 November 2024







DIRECTORS: S Cruickshank
A Dornan





REGISTERED OFFICE: 5 Carden Place
Aberdeen
AB10 1UT





REGISTERED NUMBER: SC612379 (Scotland)






PLOUGH TRADING LTD (REGISTERED NUMBER: SC612379)

Balance Sheet
30 November 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 23,640 29,430
Tangible assets 5 55,033 71,328
78,673 100,758

CURRENT ASSETS
Stocks 14,270 16,279
Debtors 6 93,863 14,149
Cash at bank and in hand 7,621 12,700
115,754 43,128
CREDITORS
Amounts falling due within one year 7 220,094 209,603
NET CURRENT LIABILITIES (104,340 ) (166,475 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(25,667

)

(65,717

)

CREDITORS
Amounts falling due after more than one year 8 (82,799 ) (21,611 )

PROVISIONS FOR LIABILITIES (940 ) (2,137 )
NET LIABILITIES (109,406 ) (89,465 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (109,408 ) (89,467 )
(109,406 ) (89,465 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

PLOUGH TRADING LTD (REGISTERED NUMBER: SC612379)

Balance Sheet - continued
30 November 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 Board of Directors and authorised for issue on 26 May 2025 and were signed on its behalf by:





A Dornan - Director


PLOUGH TRADING LTD (REGISTERED NUMBER: SC612379)

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


1. STATUTORY INFORMATION

Plough Trading 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - Straight line over 10 years
Plant and machinery - Straight line over 4 years
Fixtures and fittings - Straight line over 4 years
Computer equipment - Straight line over 3 years

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.


PLOUGH TRADING LTD (REGISTERED NUMBER: SC612379)

Notes to the Financial Statements - continued
for the Year Ended 30 November 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.

Going concern
We believe that the company's financial statements should be prepared on a going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the company’s needs. We have considered a period of twelve months from the date of approval of the financial statements. We believe that no further disclosures relating to the company's ability to continue as a going concern need to be made in the financial statements. We confirm that amounts due to the directors will not become payable within the twelve months following the approval of these financial statements and that the directors will continue to support the company for this period.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 35 (2023 - 37 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2023
and 30 November 2024 57,896
AMORTISATION
At 1 December 2023 28,466
Charge for year 5,790
At 30 November 2024 34,256
NET BOOK VALUE
At 30 November 2024 23,640
At 30 November 2023 29,430

PLOUGH TRADING LTD (REGISTERED NUMBER: SC612379)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024


5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 December 2023 92,740 27,712 24,056 7,808 152,316
Additions - 3,325 - - 3,325
At 30 November 2024 92,740 31,037 24,056 7,808 155,641
DEPRECIATION
At 1 December 2023 41,932 16,522 15,839 6,695 80,988
Charge for year 9,274 5,362 3,955 1,029 19,620
At 30 November 2024 51,206 21,884 19,794 7,724 100,608
NET BOOK VALUE
At 30 November 2024 41,534 9,153 4,262 84 55,033
At 30 November 2023 50,808 11,190 8,217 1,113 71,328

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 85
Other debtors 93,863 14,064
93,863 14,149

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 18,071 10,000
Trade creditors 56,248 55,907
Amounts owed to participating interests 38,906 48,956
Taxation and social security 101,155 70,410
Other creditors 5,714 24,330
220,094 209,603

Bank loans and overdrafts are secured by a floating charge over the assets of the company.

PLOUGH TRADING LTD (REGISTERED NUMBER: SC612379)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 75,002 15,000
Other creditors 7,797 6,611
82,799 21,611

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr 8,997 -

Bank loans and overdrafts are secured by a floating charge over the assets of the company.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 November 2024 and 30 November 2023:

2024 2023
£    £   
A Dornan and S Cruickshank
Balance outstanding at start of year (10,704 ) (5,490 )
Amounts advanced 84,393 -
Amounts repaid (2,624 ) (5,214 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 71,065 (10,704 )

Amounts totalling £84,393 were advanced to the directors in the period and £2,624 was repaid. Interest of £902 was charged on these advances at HMRC's official rate of 2.25%. This loan is unsecured and has been repaid within nine months of the balance sheet date.

10. ULTIMATE CONTROLLING PARTY

The controlling party is the directors.