IOT REPS LIMITED


Director	William Proudfoot


Registered Address	15 Halketts Hall
	Limekilns
	Dunfermline
	KY11 3HJ


Registered Number	SC738220 (Scotland)

Balance Sheet as at
31 July 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		430		807
			430		807
Current assets
Stocks		4,792		4,792
Debtors	4	139		17
Cash at bank and on hand		14,929		17,529
		19,860		22,338
Creditors amounts falling due within one year	5	(13,022)		(13,291)
Net current assets (liabilities)			6,838		9,047
Total assets less current liabilities			7,268		9,854
Provisions for liabilities			(82)		(153)
Net assets			7,186		9,701
Capital and reserves
Called up share capital			1		1
Profit and loss account			7,185		9,700
Shareholders' funds			7,186		9,701

The company was entitled to exemption from audit for this reporting period 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 Director acknowledges 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 in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Director on 3 November 2025, and are signed on its behalf by:

William Proudfoot
Director
Registered Company No. SC738220

IOT REPS LIMITED

Notes to the Financial Statements
for the year ended 31 July 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.

	Employee benefits
	The company operates a defined contribution pension scheme. Contributions payable to the companys pension scheme are charged to profit or loss in the period to which they relate.

	Current taxation
	Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 

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. 

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. 

Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Fixed assets are stated at cost, being purchase price, less accumulated depreciation.


		Straight line (years)
	Office Equipment	3

	Stocks and work in progress
	Stock and work in progress are valued at the lower of cost and net realisable value.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	1		1

3.	Tangible fixed assets

	Office Equipment	Total
	£	£
Cost or valuation
At 01 August 24	1,132	1,132
At 31 July 25	1,132	1,132
Depreciation and impairment
At 01 August 24	325	325
Charge for year	377	377
At 31 July 25	702	702
Net book value
At 31 July 25	430	430
At 31 July 24	807	807

4.	Debtors: amounts due within one year

	2025	2024
	£	£
Other debtors	139	17
Total	139	17

5.	Creditors: amounts due within one year

	2025	2024
	£	£
Taxation and social security	5,912	8,255
Other creditors	5,718	3,620
Accrued liabilities and deferred income	1,392	1,416
Total	13,022	13,291