REGISTERED NUMBER: SC239888 (Scotland)

Report of the Director and

Financial Statements

for the Year Ended 31 December 2024

for

Revo-IT Limited

Page

Company Information

1

Report of the Director

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

6

DIRECTOR:

G Fisher

REGISTERED OFFICE:

Radleigh House

1 Golf Road

Clarkston

Glasgow

G76 7HU

REGISTERED NUMBER:

SC239888 (Scotland)

ACCOUNTANTS:

O'Haras Chartered Accountants

Radleigh House

1 Golf Road

Clarkston

Glasgow

G76 7HU

The director presents his report with the financial statements of the company for the year ended 31 December 2024.

DIRECTOR

G Fisher held office during the whole of the period from 1 January 2024 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

G Fisher - Director

30 September 2025

REVENUE

1,182,992

974,963

Cost of sales

536,638

431,566

GROSS PROFIT

646,354

543,397

Administrative expenses

445,189

431,065

OPERATING PROFIT

3

201,165

112,332

Interest payable and similar expenses

21,693

29,182

PROFIT BEFORE TAXATION

179,472

83,150

Tax on profit

44,868

19,526

PROFIT FOR THE FINANCIAL YEAR

134,604

63,624

FIXED ASSETS

Intangible assets

5

-

-

Property, plant and equipment

6

3,943

4,205

Investment property

7

143,925

143,925

147,868

148,130

CURRENT ASSETS

Inventories

3,000

3,000

Debtors

8

407,282

311,388

Cash at bank

12,214

61,465

422,496

375,853

CREDITORS

Amounts falling due within one year

9

345,573

271,348

NET CURRENT ASSETS

76,923

104,505

TOTAL ASSETS LESS CURRENT LIABILITIES

224,791

252,635

CREDITORS

Amounts falling due after more than one year

10

(121,029

)

(141,379

)

PROVISIONS FOR LIABILITIES

(986

)

(1,052

)

NET ASSETS

102,776

110,204

CAPITAL AND RESERVES

Called up share capital

11

100

100

Retained earnings

102,676

110,104

SHAREHOLDERS' FUNDS

102,776

110,204

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 director acknowledges his 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 30 September 2025 and were signed by:

G Fisher - Director

1.	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 directors are satisfied that the Company will have access to sufficient funds to ensure that all liabilities will be met as they fall due over a period of at least 12 months from the approval date of these financial statements. Consequently, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Revenue

Turnover represents the amounts derived from the provision of goods and services, excluding value added tax and trade discounts.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty 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.

Leasehold improvements

-

Evenly over the estimated life of assets

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Inventories

Inventories 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.

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.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 9 ) .

3.	OPERATING PROFIT

The operating profit is stated after charging:

2024

2023

£

£

Depreciation - owned assets

1,348

2,150

4.

DIVIDENDS

2024

2023

£

£

Ordinary shares of £1 each

Interim

142,032

74,343

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

10,000

AMORTISATION

At 1 January 2024

and 31 December 2024

10,000

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

6.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Leasehold

and

Computer

improvements

fittings

equipment

Totals

£

£

£

£

COST

At 1 January 2024

2,352

13,870

7,601

23,823

Additions

-

806

280

1,086

At 31 December 2024

2,352

14,676

7,881

24,909

DEPRECIATION

At 1 January 2024

2,235

10,522

6,861

19,618

Charge for year

117

542

689

1,348

At 31 December 2024

2,352

11,064

7,550

20,966

NET BOOK VALUE

At 31 December 2024

-

3,612

331

3,943

At 31 December 2023

117

3,348

740

4,205

7.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

and 31 December 2024

143,925

NET BOOK VALUE

At 31 December 2024

143,925

At 31 December 2023

143,925

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

156,896

87,763

Other debtors

250,386

223,625

407,282

311,388

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

56,223

98,356

Trade creditors

125,348

45,955

Taxation and social security

150,109

101,798

Other creditors

13,893

25,239

345,573

271,348

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

119,821

138,671

Other creditors

1,208

2,708

121,029

141,379

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

2

Ordinary

£1

100

100