REGISTERED NUMBER: SC553664 (Scotland)

Unaudited Financial Statements for the Year Ended 31 January 2025

for

Softworx Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A J Duffy

Mrs F K Smillie

A D Smillie

REGISTERED OFFICE:

11 Park Circus

Glasgow

G3 6AX

REGISTERED NUMBER:

SC553664 (Scotland)

ACCOUNTANTS:

Accountants Plus

Chartered Certified Accountants

Second Floor

Airbles House

270 Airbles Road

Motherwell

ML1 3AT

FIXED ASSETS

Tangible assets

4

38,718

40,524

CURRENT ASSETS

Debtors

5

2,005,916

1,351,027

Cash at bank

324,955

265,532

2,330,871

1,616,559

CREDITORS

Amounts falling due within one year

6

2,249,934

1,627,698

NET CURRENT ASSETS/(LIABILITIES)

80,937

(11,139

)

TOTAL ASSETS LESS CURRENT LIABILITIES

119,655

29,385

PROVISIONS FOR LIABILITIES

-

10,986

NET ASSETS

119,655

18,399

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

119,555

18,299

119,655

18,399

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 Income Statement 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:

A D Smillie - Director

1.	STATUTORY INFORMATION

Softworx 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.

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.

Financial instruments

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 transaction price, less any impairment. 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.

Cash and bank balances

Cash and bank balances are measured at the transaction 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.

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 16 (2024 - 14 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 February 2024

77,287

Additions

5,522

Disposals

(1,350

)

At 31 January 2025

81,459

DEPRECIATION

At 1 February 2024

36,763

Charge for year

6,181

Eliminated on disposal

(203

)

At 31 January 2025

42,741

NET BOOK VALUE

At 31 January 2025

38,718

At 31 January 2024

40,524

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

£

£

Trade debtors

372,511

372,710

Other debtors

1,388,283

795,664

Directors' current accounts

31,789

50,983

Prepayments

213,333

131,670

2,005,916

1,351,027

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

£

£

Bank loans and overdrafts

140,000

183,000

Trade creditors

1,958,677

1,106,967

Tax

38,909

34,710

Social security and other taxes

49,853

48,544

Pension payable

2,513

8,431

VAT

50,915

216,450

Other creditors

6,447

2,423

Directors' current accounts

-

24,663

Accrued expenses

2,620

2,510

2,249,934

1,627,698

7.	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:

31.1.25

31.1.24

£

£

A D Smillie

Balance outstanding at start of year

26,321

50,983

Amounts advanced

5,468

-

Amounts repaid

-

(24,662

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

31,789

26,321