REGISTERED NUMBER: SC242425 (Scotland)

THOMAS SCOTT (SEATING) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2025

Page

Company Information

1

Chartered Certified Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

Greg Ternent

Kirsty Ternent

SECRETARY:

Graham Ternent

REGISTERED OFFICE:

Unit Q

Dundyvan Enterprise Park

14 Dundyvan Way

Coatbridge

ML5 4FR

REGISTERED NUMBER:

SC242425 (Scotland)

ACCOUNTANTS:

russell + russell

Chartered Certified Accountants

4 Royal Crescent

Glasgow

G3 7SL

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Thomas Scott (Seating) Limited for the year ended 31st March 2025 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity 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/rulebook.

This report is made solely to the Board of Directors of Thomas Scott (Seating) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Thomas Scott (Seating) Limited and state those matters that we have agreed to state to the Board of Directors of Thomas Scott (Seating) Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at

https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Thomas Scott (Seating) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Thomas Scott (Seating) Limited. You consider that Thomas Scott (Seating) 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 financial statements of Thomas Scott (Seating) 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 statutory financial statements.

russell + russell

Chartered Certified Accountants

4 Royal Crescent

Glasgow

G3 7SL

11th September 2025

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

332,732

334,143

332,732

334,143

CURRENT ASSETS

Stocks

549,174

466,723

Debtors

6

223,456

217,569

Cash at bank and in hand

290,228

333,651

1,062,858

1,017,943

CREDITORS

Amounts falling due within one year

7

255,665

205,034

NET CURRENT ASSETS

807,193

812,909

TOTAL ASSETS LESS CURRENT LIABILITIES

1,139,925

1,147,052

CREDITORS

Amounts falling due after more than one year

8

(4,896

)

(5,026

)

PROVISIONS FOR LIABILITIES

9

(28,680

)

(21,906

)

NET ASSETS

1,106,349

1,120,120

CAPITAL AND RESERVES

Called up share capital

10

2

2

Retained earnings

1,106,347

1,120,118

SHAREHOLDERS' FUNDS

1,106,349

1,120,120

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2025 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11th September 2025 and were signed on its behalf by:

Greg Ternent - Director

1.	STATUTORY INFORMATION

Thomas Scott (Seating) 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.

Going concern

The financial statements have been prepared on the going concern basis. The directors believe that the company has adequate resources and support to continue to operate for the foreseeable future.

Turnover

The turnover shown in the profit and loss account represents amounts invoiced for goods supplied during the year, exclusive of Value Added Tax.

Amortisation

Goodwill arising on the acquisition of businesses, representing any excess of the fair value of the consideration given over the fair value of the identifiable assets and liabilities acquired, is capitalised and written off on a straight line basis over its useful economic life of 10 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 the cost less estimated residual value of each asset over its estimated useful life.

Freehold property

- 2% straight line

Website

- 33% straight line

Equipment

- 20% straight line

Fixtures & fittings

- 20% straight line

Motor vehicles

- 20% straight line

Office equipment

- 33% straight line

Stocks

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

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

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.

Foreign currencies

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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Operating leases

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits 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 for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.

Deferred government grants

Deferred government grants in respect of capital expenditure are treated as deferred income and are credited to the profit and loss account over the estimated useful life of the assets to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2024 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st April 2024

and 31st March 2025

200,250

AMORTISATION

At 1st April 2024

and 31st March 2025

200,250

NET BOOK VALUE

At 31st March 2025

-

At 31st March 2024

-

5.	TANGIBLE FIXED ASSETS

Freehold

property

Website

Equipment

£

£

£

COST

At 1st April 2024

291,425

3,050

59,506

Additions

-

-

-

Disposals

-

-

-

At 31st March 2025

291,425

3,050

59,506

DEPRECIATION

At 1st April 2024

57,608

3,050

26,783

Charge for year

5,829

-

9,833

Eliminated on disposal

-

-

-

At 31st March 2025

63,437

3,050

36,616

NET BOOK VALUE

At 31st March 2025

227,988

-

22,890

At 31st March 2024

233,817

-

32,723

Fixtures

and

Motor

Office

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1st April 2024

6,400

70,864

8,400

439,645

Additions

-

59,859

-

59,859

Disposals

-

(48,070

)

-

(48,070

)

At 31st March 2025

6,400

82,653

8,400

451,434

DEPRECIATION

At 1st April 2024

1,923

10,375

5,763

105,502

Charge for year

1,204

14,173

1,389

32,428

Eliminated on disposal

-

(19,228

)

-

(19,228

)

At 31st March 2025

3,127

5,320

7,152

118,702

NET BOOK VALUE

At 31st March 2025

3,273

77,333

1,248

332,732

At 31st March 2024

4,477

60,489

2,637

334,143

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

214,757

216,904

Other debtors

8,699

665

223,456

217,569

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade creditors

67,190

57,807

Taxation and social security

112,708

136,388

Other creditors

75,767

10,839

255,665

205,034

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Other creditors

4,896

5,026

9.	PROVISIONS FOR LIABILITIES

31.3.25

31.3.24

£

£

Deferred tax: FA allowances

28,680

21,906

Deferred

tax

£

Balance at 1st April 2024

21,906

Provided during year

6,774

Movement in year

Balance at 31st March 2025

28,680

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.03.24

31.03.23

value:

£

£

180

A Ordinary shares

£0.01

1.80

1.80

20

B Ordinary shares

£0.01

0.20

0.20

2.00

2.00

11.	ULTIMATE CONTROLLING PARTY

The company is controlled by G. Ternent.