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REGISTERED NUMBER: SC190906 (Scotland)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2024

FOR

SALTIRE SHIPPING LIMITED

SALTIRE SHIPPING LIMITED (REGISTERED NUMBER: SC190906)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 November 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SALTIRE SHIPPING LIMITED

COMPANY INFORMATION
for the year ended 30 November 2024







DIRECTORS: A A Martin
H T Martin
G Martin





REGISTERED OFFICE: No 12 Jubilee House
Saltire Centre
Glenrothes
Fife
KY6 2AH





REGISTERED NUMBER: SC190906 (Scotland)





ACCOUNTANTS: Haines Watts
Business Advisors and Accountants
Cluny Court
John Smith Business Park
Kirkcaldy
Fife
KY2 6QJ

SALTIRE SHIPPING LIMITED (REGISTERED NUMBER: SC190906)

BALANCE SHEET
30 November 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Debtors 4 85,444 85,272
Cash at bank 196,248 235,621
281,692 320,893
CREDITORS
Amounts falling due within one year 5 73,028 20,739
NET CURRENT ASSETS 208,664 300,154
TOTAL ASSETS LESS CURRENT
LIABILITIES

208,664

300,154

CAPITAL AND RESERVES
Called up share capital 6 100 100
Retained earnings 208,564 300,054
SHAREHOLDERS' FUNDS 208,664 300,154

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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 August 2025 and were signed on its behalf by:





G Martin - Director


SALTIRE SHIPPING LIMITED (REGISTERED NUMBER: SC190906)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 November 2024

1. STATUTORY INFORMATION

Saltire Shipping Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 represents income from shipping freight and is shown net of vat.

FINANCIAL INSTRUMENTS
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


SALTIRE SHIPPING LIMITED (REGISTERED NUMBER: SC190906)

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.

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.

3. EMPLOYEES AND DIRECTORS

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

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 72,773 72,650
Other debtors 12,671 12,622
85,444 85,272

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 57,778 4,915
Taxation and social security 4,802 3,424
Other creditors 10,448 12,400
73,028 20,739

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
65 Ordinary A £1 65 65
15 Ordinary B £1 15 15
15 Ordinary C £1 15 15
5 Ordinary D £1 5 5
100 100

7. RELATED PARTY DISCLOSURES

Included in 'Other creditors' is an amount of £719 (2023 - £10,650) due to the directors from the company.These loans are interest free and have no fixed terms of repayment.