REGISTERED NUMBER: SC100704 (Scotland)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2025

FOR

SCOTWOOD INTERIORS LTD.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J A Scott

J Taylor

C Nugent

REGISTERED OFFICE:

48 Milton Road

East Kilbride

Glasgow

G74 5BU

REGISTERED NUMBER:

SC100704 (Scotland)

AUDITORS:

Bannerman Johnstone Maclay

Chartered Accountants

and Statutory Auditor

213 St Vincent Street

Glasgow

G2 5QY

SOLICITORS:

Harper Macleod

45 Gordon St.

Glasgow

G1 3PE

FIXED ASSETS

Tangible assets

4

94,392

143,590

CURRENT ASSETS

Debtors

5

3,982,377

3,057,064

Cash at bank and in hand

693,945

636,035

4,676,322

3,693,099

CREDITORS

Amounts falling due within one year

6

1,624,341

933,078

NET CURRENT ASSETS

3,051,981

2,760,021

TOTAL ASSETS LESS CURRENT LIABILITIES

3,146,373

2,903,611

PROVISIONS FOR LIABILITIES

23,111

35,304

NET ASSETS

3,123,262

2,868,307

CAPITAL AND RESERVES

Called up share capital

5,000

5,000

Share premium

38,000

38,000

Capital redemption reserve

32,000

32,000

Retained earnings

3,048,262

2,793,307

SHAREHOLDERS' FUNDS

3,123,262

2,868,307

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 10 October 2025 and were signed on its behalf by:

C Nugent - Director

J A Scott - Director

1.	STATUTORY INFORMATION

Scotwood Interiors Ltd. 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 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 15% on reducing balance

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include certain debtors and cash and bank balances, are initially measured at transaction price including transactions costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including certain creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 39 (2024 - 37 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 February 2024

557,765

Additions

1,263

At 31 January 2025

559,028

DEPRECIATION

At 1 February 2024

414,175

Charge for year

50,461

At 31 January 2025

464,636

NET BOOK VALUE

At 31 January 2025

94,392

At 31 January 2024

143,590

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

1,663,534

561,599

Amounts owed by group undertakings

2,316,768

2,015,798

Amounts recoverable on contracts

-

478,523

Other debtors

2,075

1,144

3,982,377

3,057,064

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

633,874

249,758

Tax

163,377

268,697

Other creditors

827,090

414,623

1,624,341

933,078

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Douglas Paton BSc CA (Senior Statutory Auditor)

for and on behalf of Bannerman Johnstone Maclay

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2025 and 31 January 2024:

2025

2024

£

£

J A Scott

Balance outstanding at start of year

-

8,125

Amounts repaid

-

(8,125

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Scotwood Holdings Limited.