Fidelis Scotland Limited

	Page
Accountants' Report	1
Balance Sheet	2
Notes to the Financial Statements	3—6

Report to the directors on the preparation of the unaudited statutory accounts of Fidelis Scotland Limited for the year ended 31 March 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Fidelis Scotland Limited which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.

This report is made to the directors of Fidelis Scotland Limited , as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Fidelis Scotland Limited and state those matters that we have agreed to state to the directors of Fidelis Scotland Limited , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Fidelis Scotland Limited and its directors as a body for our work or for this report.

It is your duty to ensure that Fidelis Scotland Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Fidelis Scotland Limited . You consider that Fidelis Scotland Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Fidelis Scotland Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.

8 September 2025

Nuvo Scotland Limited

Bankhead Drive

City South Office Park

Portlethen

Aberdeen

AB12 4XX

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Fidelis Scotland Limited

Balance Sheet

As At 31 March 2025

Balance Sheet

Registered number: SC375372

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS

CURRENT ASSETS
Stocks	5	93,453		330,419
Debtors	6	553,283		822,611
Cash at bank and in hand		1,408,939		1,021,731

		2,055,675		2,174,761
Creditors: Amounts Falling Due Within One Year	7	(756,162 )		(993,802 )

NET CURRENT ASSETS (LIABILITIES)			1,299,513		1,180,959

TOTAL ASSETS LESS CURRENT LIABILITIES			1,299,513		1,180,959

NET ASSETS			1,299,513		1,180,959

CAPITAL AND RESERVES
Called up share capital	8		100		100
Profit and Loss Account			1,299,413		1,180,859

SHAREHOLDERS' FUNDS			1,299,513		1,180,959

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr W Gordon

Director

8 September 2025

The notes on pages 3 to 6 form part of these financial statements.

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Fidelis Scotland Limited

Notes to the Financial Statements

For The Year Ended 31 March 2025

Notes to the Financial Statements

1. General Information

Fidelis Scotland Limited is a private company, limited by shares, incorporated in Scotland, registered number SC375372 . The registered office is Colleonard House, Banff, Aberdeenshire, AB45 3TP.

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

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

2.3. Tangible Fixed Assets and Depreciation

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Assets held under finance leases are depreciated in the same way as owned assets.

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	100% on cost
Fixtures & Fittings	100% on cost
Computer Equipment	100% on cost

2.4. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.5. Financial Instruments

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other debtors and cash and bank balances are measured at transaction price

including transaction costs.

Financial assets are derecognised when the contractual rights to cash flows from the asset expire or are settled or when the company transfers the risks and rewards of ownership to another entity.

Basic financial liabilities

Basic financial liabilities, which include trade and other creditors and bank loans payable within one year are not amortised and is recognised at transaction price.

Debt instruments are initially recognised at transaction price plus transaction cost and subsequently carried at amortised cost using the effective interest rate method.

...CONTINUED

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Fidelis Scotland Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.5. Financial Instruments - continued

Financial liabilities are derecognised when the company's contractual obligations are discharged.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.

2.6. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.7. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

2.8. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

2.9. Redeemable Preference Shares

Preference shares issued that carry a mandatory redemption at a future date where cash is to be delivered, are recognised as financial liabilities on the Balance Sheet of the financial statements. Where preference shares issued do not have a fixed redemption date they are recognised as a financial liability due for redemption within 1 year.

Preference share dividends are recognised as finance costs in the Profit and Loss account.

2.10. Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2024: 2)

4. Tangible Assets

	Plant & Machinery	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 April 2024	28,558	2,706	2,604	33,868
Additions	28,738	-	-	28,738

As at 31 March 2025	57,296	2,706	2,604	62,606

Depreciation
As at 1 April 2024	28,558	2,706	2,604	33,868
Provided during the period	28,738	-	-	28,738

As at 31 March 2025	57,296	2,706	2,604	62,606

Net Book Value
As at 31 March 2025	-	-	-	-

As at 1 April 2024	-	-	-	-

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Fidelis Scotland Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

5. Stocks

	2025	2024
	£	£
Stock	93,453	330,419

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	553,283	784,412
Prepayments and accrued income	-	1,533
VAT	-	36,666

	553,283	822,611

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	263,437	433,619
Corporation tax	67,343	148,916
VAT	8,683	-
Accruals and deferred income	16,075	11,159
Directors' loan accounts	624	108
Redeemable preference shares	400,000	400,000

	756,162	993,802

8. Share Capital

	2025	2024
Allotted, called up and fully paid	£	£
100 Ordinary Shares of £ 1.00 each	100	100

9. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 April 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 31 March 2025
	£	£	£	£	£
Mr William Gordon	-	(312 )	-	-	(312 )
Miss Jane Gordon	(108 )	(312 )	108	-	(312 )

The above loan is interest free and has no fixed repayment terms.

10. Post Balance Sheet Events

On 7 May 2025, £200,000 of redeemable preference shares were redeemed at par for cash.

11. Related Party Transactions

The company have taken advantage of exemption, under the terms of Financial Reporting Scotland 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidaries within the group.

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Fidelis Scotland Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

12. Ultimate Controlling Party

The company is under control of J Gordon by virtue of her 100% ownership of the issued share capital in the company's parent Fidelis International Holdings Limited.

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