1 April 2024 v2025.80.1 limited_company_frs_102_section_1a_v1_1_3 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBPSC2677952024-04-012025-03-31SC2677952025-03-31SC2677952024-03-31SC267795core:WithinOneYear2025-03-31SC267795core:WithinOneYear2024-03-31SC267795core:ShareCapital2025-03-31SC267795core:ShareCapital2024-03-31SC267795core:RetainedEarningsAccumulatedLosses2025-03-31SC267795core:RetainedEarningsAccumulatedLosses2024-03-31SC267795bus:Director12024-04-012025-03-31SC267795bus:RegisteredOffice2024-04-012025-03-31SC267795core:OfficeEquipment2024-04-012025-03-31SC267795core:FurnitureFittingsToolsEquipment2024-04-012025-03-31SC2677952023-04-012024-03-31SC267795core:PlantMachinery2024-04-01SC267795core:PlantMachinery2024-04-012025-03-31SC267795core:PlantMachinery2025-03-31SC267795core:PlantMachinery2024-03-31SC267795core:CostValuation2024-04-01SC267795core:DisposalsRepaymentsInvestments2025-03-31SC267795core:CostValuation2025-03-31SC267795core:ProvisionsForImpairmentInvestments2024-04-01SC267795core:ImpairmentReversalProvisionsForImpairmentInvestments2025-03-31SC267795core:BetweenOneFiveYears2025-03-31SC267795core:BetweenOneFiveYears2024-03-31SC267795core:MoreThanFiveYears2025-03-31SC267795core:MoreThanFiveYears2024-03-31SC26779512024-04-012025-03-31SC267795countries:Scotland2024-04-012025-03-31SC267795bus:AuditExempt-NoAccountantsReport2024-04-012025-03-31SC267795bus:PrivateLimitedCompanyLtd2024-04-012025-03-31SC267795bus:SmallEntities2024-04-012025-03-31SC267795bus:FullAccounts2024-04-012025-03-31
Company registration number:
SC267795
Scotia Wealth Management Ltd.
Unaudited Filleted Financial Statements for the year ended
31 March 2025
Scotia Wealth Management Ltd.
Report to the board of directors on the preparation of the unaudited statutory financial statements of Scotia Wealth Management Ltd.
Year ended
31 March 2025
As described on the statement of financial position, the Board of Directors of
Scotia Wealth Management Ltd.
are responsible for the preparation of the
financial statements
for the year ended
31 March 2025
, which comprise the income statement, statement of income and retained earnings, statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions I have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to me.
Hamilton-Smith Accounting
Scotia Wealth Management Ltd.
Statement of Financial Position
31 March 2025
20252024
Note££
Fixed assets    
Tangible assets 5
21,126
 
30,249
 
Investments 6
72,000
 
72,000
 
93,126
 
102,249
 
Current assets    
Debtors 7
99,830
 
170,408
 
Cash at bank and in hand
323,170
 
177,851
 
423,000
 
348,259
 
Creditors: amounts falling due within one year 8
(109,211
 )
(93,487
 )
Net current assets
313,789
 
254,772
 
Total assets less current liabilities 406,915   357,021  
Provisions for liabilities
(3,280
 )
(5,345
 )
Net assets
403,635
 
351,676
 
Capital and reserves    
Called up share capital
20,000
 
20,000
 
Profit and loss account
383,635
 
331,676
 
Shareholders funds
403,635
 
351,676
 
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.
Director's responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
30 September 2025
, and are signed on behalf of the board by:
W Smith
Director
Company registration number:
SC267795
Scotia Wealth Management Ltd.
Notes to the Financial Statements
Year ended
31 March 2025

1 General information

The company is a private company limited by shares and is registered in Scotland. The address of the registered office is
36-38 Salamander Street
,
Edinburgh
,
EH6 7HZ
, .

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for services supplied, net of discounts.

Current tax

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.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Office equipment
20% straight line
Fixtures, fittings and equipment
20% straight line

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

Operating leases

A lease is classified as an operating lease if it does not transfer substantially all the risks and rewards incidental to ownership. Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

4 Average number of employees

The average number of persons employed by the company during the year was
13
(2024:
13.00
).

5 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 April 2024
80,181
 
Additions
2,463
 
At
31 March 2025
82,644
 
Depreciation  
At
1 April 2024
49,932
 
Charge
11,586
 
At
31 March 2025
61,518
 
Carrying amount  
At
31 March 2025
21,126
 
At 31 March 2024
30,249
 

6 Investments

Other investments other than loans
£
Cost  
At
1 April 2024
82,000
 
Disposals
(10,000
 )
At
31 March 2025
72,000
 
Impairment  
At
1 April 2024
10,000
 
Reversal of past impairment losses
(10,000
 )
At
31 March 2025
 -  
Carrying amount  
At
31 March 2025
72,000
 
At 31 March 2024
72,000
 

7 Debtors

20252024
££
Trade debtors
20,821
 
21,090
 
Other debtors
79,009
 
149,318
 
99,830
 
170,408
 

8 Creditors: amounts falling due within one year

20252024
££
Trade creditors
2,243
 
1,838
 
Taxation and social security
86,603
 
49,503
 
Other creditors
20,365
 
42,146
 
109,211
 
93,487
 
There is a floating charge over the assets of the company in favour of Beauchamp Hoffman in respect of a debt for purchase of the business. This debt has been fully settled and no futher liabilites are due

9 Operating leases

The company as lessee    
20252024
££
Not later than 1 year
29,600
 
27,226
 
Later than 1 year and not later than 5 years
96,800
 
94,000
 
Later than 5 years
5,400
 
37,800
 
131,800
 
159,026