SOPS (Scot) Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: SC438325

SOPS (Scot) Limited

Filleted Unaudited Financial Statements

For the year ended

31 December 2024

SOPS (Scot) Limited

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	5		2,088	2,566

Current assets

Debtors	6	2,613	2,613
Cash at bank and in hand		21,439	11,531
		--------	--------
		24,052	14,144

Creditors: amounts falling due within one year	7	5,280		4,255
		--------		--------
Net current assets			18,772	9,889
			--------	--------
Total assets less current liabilities			20,860	12,455
			--------	--------
Net assets			20,860	12,455
			--------	--------

Capital and reserves

Called up share capital	1	1
Profit and loss account	20,859	12,454
	--------	--------
Shareholder funds	20,860	12,455
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

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

SOPS (Scot) Limited

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 23 September 2025 , and are signed on behalf of the board by:

Mr G P Irvine

Director

Company registration number: SC438325

SOPS (Scot) Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is 29 George Street, Bathgate, West Lothian, EH48 1PG, Scotland.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The accounts have been prepared on the going concern basis due to the continued support from a major creditor. The director has confirmed that this support will continue in the year ahead.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	15% reducing balance
Fixtures and fittings	-	20% reducing balance

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Investments are measured at cost less impairment. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).

5. Tangible assets

	Plant and machinery	Fixtures and fittings	Total
	£	£	£
Cost
At 1 January 2024 and 31 December 2024	2,840	12,769	15,609
	-------	--------	--------
Depreciation
At 1 January 2024	2,485	10,558	13,043
Charge for the year	105	373	478
	-------	--------	--------
At 31 December 2024	2,590	10,931	13,521
	-------	--------	--------
Carrying amount
At 31 December 2024	250	1,838	2,088
	-------	--------	--------
At 31 December 2023	355	2,211	2,566
	-------	--------	--------

6. Debtors

	2024	2023
	£	£
Other debtors	2,613	2,613
	-------	-------

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Corporation tax	2,084	1,344
Social security and other taxes	586	601
Other creditors	2,610	2,310
	-------	-------
	5,280	4,255
	-------	-------

8. Related party transactions

Included in debtors is a loan of £2,613 due from the firm of Caesar & Howie (2023 - £2,613). Mr Irvine was both a partner in the firm of Caesar & Howie and a director of the company at the balance sheet date.