REGISTERED NUMBER: SC665393 (Scotland)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Stratec Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

11,748

14,793

CURRENT ASSETS

Stocks

32,965

110,698

Debtors

5

59,490

68,408

Cash at bank

110,578

4,838

203,033

183,944

CREDITORS

Amounts falling due within one year

6

(134,624

)

(85,648

)

NET CURRENT ASSETS

68,409

98,296

TOTAL ASSETS LESS CURRENT LIABILITIES

80,157

113,089

CREDITORS

Amounts falling due after more than one year

7

(29,182

)

(103,638

)

NET ASSETS

50,975

9,451

CAPITAL AND RESERVES

Called up share capital

451,000

451,000

Retained earnings

(400,025

)

(441,549

)

50,975

9,451

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 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 director and authorised for issue on 30 September 2025 and were signed by:

Mr G Watkins - Director

1.	STATUTORY INFORMATION

Stratec Limited is a private company, limited by shares, domiciled in Scotland, registration number SC665393. The registered office is Nursery Lodge, Loch-hills Road, Ellon, Aberdeenshire, AB41 8DR.

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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover represents net invoiced sales of goods in respect of the wholesale of geotechnical construction products, excluding value added tax. Sales are recognised at the point at which the goods are delivered.

Tangible fixed assets and depreciation

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

Plant and machinery etc

-

33% on cost and 20% on reducing balance

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is represented by purchase price.

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.

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.

Provisions

Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

31,093

Additions

833

At 31 December 2024

31,926

DEPRECIATION

At 1 January 2024

16,300

Charge for year

3,878

At 31 December 2024

20,178

NET BOOK VALUE

At 31 December 2024

11,748

At 31 December 2023

14,793

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

25,995

DEPRECIATION

At 1 January 2024

12,686

Charge for year

2,661

At 31 December 2024

15,347

NET BOOK VALUE

At 31 December 2024

10,648

At 31 December 2023

13,309

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

28,395

60,800

Other debtors

31,095

7,608

59,490

68,408

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Hire purchase contracts

5,106

5,197

Trade creditors

(45,533

)

59,705

Taxation and social security

12,372

10,467

Other creditors

162,679

10,279

134,624

85,648

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Hire purchase contracts

443

4,818

Amounts owed to group undertakings

28,739

-

Other creditors

-

98,820

29,182

103,638

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Hire purchase contracts

5,549

10,015

Balances due in relation to hire purchase agreements are secured against the assets to which they relate.

9.	ULTIMATE CONTROLLING PARTY

Stratec Holdings Limited is registered in Scotland under registration number SC647102. The registered office is Nursery Lodge, Loch-Hills Road, Ellon, Aberdeenshire, Scotland, AB41 8DR.