REGISTERED NUMBER: SC040040 (Scotland)

Financial Statements for the Year Ended 31 January 2025

for

Inspectahire Instrument Co. Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C Forrester

J C A Rennie

REGISTERED OFFICE:

C/O Mr C Forrester

4 Durno Park

Kirkton Of Skene

WESTHILL

ABERDEENSHIRE

AB32 6GA

REGISTERED NUMBER:

SC040040 (Scotland)

ACCOUNTANTS:

McLay McAlister & McGibbon LLP

Chartered Accountants

145 St Vincent Street

Glasgow

G2 5JF

FIXED ASSETS

Tangible assets

4

1,076,724

970,336

CURRENT ASSETS

Stocks

12,500

25,000

Debtors

5

859,047

668,754

Cash at bank and in hand

1,622,566

1,559,538

2,494,113

2,253,292

CREDITORS

Amounts falling due within one year

6

(486,399

)

(257,191

)

NET CURRENT ASSETS

2,007,714

1,996,101

TOTAL ASSETS LESS CURRENT LIABILITIES

3,084,438

2,966,437

CREDITORS

Amounts falling due after more than one year

7

(5,000

)

(15,000

)

PROVISIONS FOR LIABILITIES

(13,700

)

-

NET ASSETS

3,065,738

2,951,437

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

3,065,638

2,951,337

SHAREHOLDERS' FUNDS

3,065,738

2,951,437

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 October 2025 and were signed on its behalf by:

C Forrester - Director

1.	STATUTORY INFORMATION

Inspectahire Instrument Co. 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.

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 represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Tenant's improvements

-

50% on cost and 25% on cost

Equipment

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

The company's policy is to review the remaining useful lives and residual value of all tangible fixed assets on an on-going basis and to adjust the depreciation charge to reflect the remaining useful economic life and residual value.

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

Debtors

Trade debtors and other debtors are recognised at the settlement amount due with appropriate allowances for any irrecoverable amounts when there is objective evidence the asset is impaired.

Cash and cash equivalents

Cash and cash equivalents in the balance sheet comprise of cash in hand.

Creditors

Trade creditors and other creditors are recognised where the company has a present obligation resulting from a past event and are recognised at the settlement amount due after allowing for any trade discounts due.

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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Leasing

Rentals paid under operating leases are charged to profit and loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2024 - 18 ) .

4.	TANGIBLE FIXED ASSETS

Tenant's

Motor

improvements

Equipment

vehicles

Totals

£

£

£

£

COST

At 1 February 2024

52,730

2,708,924

56,452

2,818,106

Additions

-

395,198

56,273

451,471

Disposals

-

(459,084

)

(43,093

)

(502,177

)

At 31 January 2025

52,730

2,645,038

69,632

2,767,400

DEPRECIATION

At 1 February 2024

40,848

1,765,189

41,733

1,847,770

Charge for year

5,509

256,232

15,125

276,866

Eliminated on disposal

-

(401,359

)

(32,601

)

(433,960

)

At 31 January 2025

46,357

1,620,062

24,257

1,690,676

NET BOOK VALUE

At 31 January 2025

6,373

1,024,976

45,375

1,076,724

At 31 January 2024

11,882

943,735

14,719

970,336

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

£

£

Trade debtors

691,948

603,403

Other debtors

167,099

65,351

859,047

668,754

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

£

£

Bank loans and overdrafts

10,000

10,000

Trade creditors

304,049

107,438

Taxation and social security

67,990

23,930

Other creditors

104,360

115,823

486,399

257,191

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.25

31.1.24

£

£

Bank loans

5,000

15,000

8.	LEASING AGREEMENTS

At the year end the company had future operating lease commitments of £140,526 (2024: 193,238).

9.	RELATED PARTY DISCLOSURES

Included within other creditors is £7,394 (2023: £7,394) due to a director. This loan is interest free and repayable on demand.