REGISTERED NUMBER: SC438609 (Scotland)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Structureseal Services Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P J Henderson

J M Shields

M J Taylor

REGISTERED OFFICE:

1st Floor - Bothwell House

Pochard Way

Strathclyde Business Park

Bellshill

Lanarkshire

ML4 3HB

REGISTERED NUMBER:

SC438609 (Scotland)

ACCOUNTANTS:

Graham & Co. (Accountants) Limited

76 Dumbarton Road

Clydebank

Glasgow

G81 1UG

FIXED ASSETS

Tangible assets

4

148,919

75,018

CURRENT ASSETS

Stocks

100,422

65,330

Debtors

5

1,694,723

1,570,299

Cash at bank and in hand

2,438,306

2,261,381

4,233,451

3,897,010

CREDITORS

Amounts falling due within one year

6

789,511

684,559

NET CURRENT ASSETS

3,443,940

3,212,451

TOTAL ASSETS LESS CURRENT LIABILITIES

3,592,859

3,287,469

CREDITORS

Amounts falling due after more than one year

7

-

(15,997

)

PROVISIONS FOR LIABILITIES

(18,880

)

(18,880

)

NET ASSETS

3,573,979

3,252,592

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

3,573,879

3,252,492

3,573,979

3,252,592

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 30 September 2025 and were signed on its behalf by:

M J Taylor - Director

1.	STATUTORY INFORMATION

Structureseal Services 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.

Significant judgements and estimates

Preparation of the financial statements requires management to make significant judgements and estimates. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

Changes to estimates and underlying assumptions are recognised in the period in which the estimate is revised, where the revision affects only that period, or in the period of the revision and future periods, where the revision affects both current and future periods.

The directors are of the opinion that there are no matters of significant judgements, estimates and assumptions that have significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on cost, 20% on reducing balance and 10% on cost

Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

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

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable or payable, third party loan finance and loans with related parties.

Debt instruments (other than those wholly repayable within one year) including loans and other accounts receivable or payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective rate method.

Debt instruments that are repayable within one year are measured initially and subsequently at the undiscounted amount of cash or other consideration expected to be paid or received. However if the arrangement of a short term instrument constitutes a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not at a market rate, the financial asset or liability is measured initially, at the present value of future cash flows discounted at a market rate of interest of a similar debt instrument and subsequently amortised at cost.

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Long term contracts

The contract work undertaken by the company is deemed to be long term in nature.

Turnover on long term contracts is determined on the basis of certified valuations representing measured work on contracts. Operating profit includes attributable profits on long term contracts completed and amounts recoverable on incomplete contracts - the latter also being included in debtors due within one year.

Long term contract work in progress is recorded at net cost after deducting foreseeable losses and payments on account.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 38 (2023 - 37 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

134,945

Additions

89,500

At 31 December 2024

224,445

DEPRECIATION

At 1 January 2024

59,927

Charge for year

15,599

At 31 December 2024

75,526

NET BOOK VALUE

At 31 December 2024

148,919

At 31 December 2023

75,018

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 January 2024

and 31 December 2024

53,490

DEPRECIATION

At 1 January 2024

11,411

Charge for year

6,543

At 31 December 2024

17,954

NET BOOK VALUE

At 31 December 2024

35,536

At 31 December 2023

42,079

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Other debtors

1,694,723

1,570,299

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Hire purchase contracts

15,997

16,097

Trade creditors

186,832

181,016

Taxation and social security

331,902

271,415

Other creditors

254,780

216,031

789,511

684,559

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Hire purchase contracts

-

15,997

8.	RELATED PARTY DISCLOSURES

Advance Construction Group Ltd, and Advance Construction (Scotland) Limited are related parties by means of a common director. In the normal course of business the company trades with related parties on normal commercial terms in relation to the sale and purchase of goods and services.

As at 31 December 2024 - Other debtors includes £833,242 (2023 - £789,797) due from related parties. Trade creditors includes £29,783 (2023 - £18,218) due to related parties and Other creditors includes a balance of £186,432 (2023 - £136,632) due to a related party. In addition a loan of £140,000 (2023 - £140,000) is due by a director - the loan is interest free and was repaid on 31 January 2025.

9.	ULTIMATE CONTROLLING PARTY

The controlling party is J M Shields.