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Company Registration No. SC265956 (Scotland)
Scottish Fencing Limited Unaudited accounts for the year ended 31 March 2025
Scottish Fencing Limited Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
- 2 -
Scottish Fencing Limited Company Information for the year ended 31 March 2025
Directors
Samuel James McLellan Jude Salmon Paul Charles Vaughan Colleen Grace Walker John Bryden Peter Drummond Gregor McCallum Robin Paterson
Company Number
SC265956 (Scotland)
Registered Office
Easterhouse Phoenix Community Centre 5 Shandwick Street Glasgow G34 9BN United Kingdom
Accountants
NHBC Accounting and Tax Services
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Scottish Fencing Limited Statement of financial position as at 31 March 2025
2025
2024
Notes
£
£
Fixed assets
Tangible assets
4
5,037
6,313
Current assets
Debtors
5
6,697
12,039
Cash at bank and in hand
87,426
85,006
94,123
97,045
Creditors: amounts falling due within one year
6
(13,630)
(28,115)
Net current assets
80,493
68,930
Net assets
85,530
75,243
Reserves
7
Profit and loss account
85,530
75,243
Members' funds
85,530
75,243
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 8 September 2025 and were signed on its behalf by
Colleen Grace Walker Director Company Registration No. SC265956
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Scottish Fencing Limited Notes to the Accounts for the year ended 31 March 2025
1
Statutory information
Scottish Fencing Limited is a private company, limited by guarantee, registered in Scotland, registration number SC265956. The registered office is Easterhouse Phoenix Community Centre, 5 Shandwick Street, Glasgow, G34 9BN, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
Turnover and expenditure
Income and expenditure are included in the financial statements as they become receivable or due. Expenses include VAT where applicable as the company cannot reclaim it.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% on cost and 10% on cost
Computer equipment
25% on reducing balance
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. Any impairment loss is recognised immediately in income and expenditure account.
Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
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Scottish Fencing Limited Notes to the Accounts for the year ended 31 March 2025
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. Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
Taxation
Current tax The tax expense represents the sum of the tax currently payable and deferred tax Deferred tax Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Grants
Grants are credited to income and expenditure account in the same period as the related expenditure. Outstanding grant claims for expenditure incurred in the year are accrued and included within debtors. Deferred grants are expected to be spent in the twelve months following the company's year end. Government grants in respect of capital expenditure are treated as deferred income and are credited to income and expenditure account over the useful life of the assets to which they relate.
Member's subscription
Subscriptions are credited to income and expenditure account in the same period of membership that the subscription covers.
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Scottish Fencing Limited Notes to the Accounts for the year ended 31 March 2025
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. 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. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates 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.
4
Tangible fixed assets
Plant & machinery
Computer equipment
Total
£
£
£
Cost or valuation
At cost
At cost
At 1 April 2024
69,917
7,070
76,987
At 31 March 2025
69,917
7,070
76,987
Depreciation
At 1 April 2024
64,166
6,508
70,674
Charge for the year
1,135
141
1,276
At 31 March 2025
65,301
6,649
71,950
Net book value
At 31 March 2025
4,616
421
5,037
At 31 March 2024
5,751
562
6,313
5
Debtors
2025
2024
£
£
Amounts falling due within one year
Trade debtors
566
300
Accrued income and prepayments
1,229
2,252
Other debtors
4,902
9,487
6,697
12,039
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
2,025
8,124
Taxes and social security
2,378
2,355
Other creditors
1,572
3,789
Accruals
7,655
13,847
13,630
28,115
7
Company limited by guarantee
The company is limited by guarantee and has no share capital. Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
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Scottish Fencing Limited Notes to the Accounts for the year ended 31 March 2025
8
Operating lease commitments
2025
2024
£
£
At 31 March 2025 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
-
1,420
9
Average number of employees
During the year the average number of employees was 12 (2024: 12).
- 8 -