RAZOR Oiltools Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: SC660477 (Scotland)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

RAZOR OILTOOLS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C J Chalker

A M H See

N A A Simpson

REGISTERED OFFICE:

5 Carden Place

Aberdeen

AB10 1UT

REGISTERED NUMBER:

SC660477 (Scotland)

FIXED ASSETS

Tangible assets

4

2,579,302

2,102,713

CURRENT ASSETS

Stocks

879,974

552,649

Debtors

5

1,323,970

341,827

Cash at bank

1,472,084

335,427

3,676,028

1,229,903

CREDITORS

Amounts falling due within one year

6

1,054,321

515,947

NET CURRENT ASSETS

2,621,707

713,956

TOTAL ASSETS LESS CURRENT
LIABILITIES

5,201,009

2,816,669

CREDITORS

Amounts falling due after more than one
year

7

(387,094

)

(146,250

)

PROVISIONS FOR LIABILITIES

(640,884

)

(455,007

)

NET ASSETS

4,173,031

2,215,412

CAPITAL AND RESERVES

Called up share capital

1,000

Share premium

149,725

Retained earnings

4,022,306

2,064,687

4,173,031

2,215,412

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

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

The financial statements were approved by the Board of Directors and authorised for issue on 16 September 2025 and were signed on its behalf by:

C J Chalker - Director

1.	STATUTORY INFORMATION

RAZOR Oiltools 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.

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.

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

-

33% on cost

Plant and machinery

-

20% on cost

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2023 - 17 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Motor

Computer

property

machinery

vehicles

equipment

Totals

£

COST

At 1 January 2024

2,685

2,467,047

86,203

33,943

2,589,878

Additions

-

1,176,889

-

16,118

1,193,007

Disposals

-

(64,210

)

-

(1,870

)

(66,080

)

At 31 December 2024

2,685

3,579,726

86,203

48,191

3,716,805

DEPRECIATION

At 1 January 2024

2,685

437,545

26,340

20,595

487,165

Charge for year

-

640,326

28,447

10,676

679,449

Eliminated on disposal

-

(27,525

)

-

(1,586

)

(29,111

)

At 31 December 2024

2,685

1,050,346

54,787

29,685

1,137,503

NET BOOK VALUE

At 31 December 2024

-

2,529,380

31,416

18,506

2,579,302

At 31 December 2023

-

2,029,502

59,863

13,348

2,102,713

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

1,139,490

237,872

Other debtors

184,480

103,955

1,323,970

341,827

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Hire purchase contracts

178,804

101,688

Trade creditors

34,061

41,798

Taxation and social security

656,806

102,961

Other creditors

184,650

269,500

1,054,321

515,947

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2024

2023

£

Hire purchase contracts

387,094

146,250

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

2024

2023

£

C J Chalker

Balance outstanding at start of year

222

(7,905

)

Amounts advanced

-

55,222

Amounts repaid

-

(47,095

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

222

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is C J Chalker.