Company registration number SC147292 (Scotland)
SCARF ENTERPRISES (SCOTLAND) LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
SCARF ENTERPRISES (SCOTLAND) LIMITED
COMPANY INFORMATION
Directors
David Allan Dick - Chair
Thane Lawrie - Vice Chair
Mark Ritchie - Treasurer
Secretary
LC Secretaries Limited
Company number
SC147292
Registered office
Johnstone House
52-54 Rose Street
Aberdeen
United Kingdom
AB10 1HA
Auditor
Findlays Audit Limited
11 Dudhope Terrace
Dundee
DD3 6TS
Solicitors
Ledingham Chalmers LLP
Johnstone House
52-54 Rose Street
Aberdeen
United Kingdom
AB10 1HA
SCARF ENTERPRISES (SCOTLAND) LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 6
SCARF ENTERPRISES (SCOTLAND) LIMITED
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Current assets
Debtors
4
239,849
90,945
Cash at bank and in hand
663,865
384,713
903,714
475,658
Creditors: amounts falling due within one year
5
(449,580)
(389,094)
Net current assets
454,134
86,564
Capital and reserves
Called up share capital
6
25,000
25,000
Profit and loss reserves
429,134
61,564
Total equity
454,134
86,564

The notes on pages 3 to 6 form part of these financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 29 October 2025 and are signed on its behalf by:
David Allan Dick - Chair
Director
Company registration number SC147292 (Scotland)
SCARF ENTERPRISES (SCOTLAND) LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 April 2023
25,000
77,283
102,283
Year ended 31 March 2024:
Profit and total comprehensive income
-
27,143
27,143
Distributions to parent charity under gift aid
-
(42,862)
(42,862)
Balance at 31 March 2024
25,000
61,564
86,564
Year ended 31 March 2025:
Profit and total comprehensive income
-
394,665
394,665
Distributions to parent charity under gift aid
-
(27,095)
(27,095)
Balance at 31 March 2025
25,000
429,134
454,134
SCARF ENTERPRISES (SCOTLAND) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 3 -
1
Accounting policies
Company information

Scarf Enterprises (Scotland) Limited is a private company limited by shares incorporated in Scotland. The registered office is Johnstone House, 52-54 Rose Street, Aberdeen, United Kingdom, AB10 1HA. . Scarf Enterprises (Scotland) Limited is a wholly owned subsidiary of SCARF, a registered charity incorporated in Scotland.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The financial statements of the company are consolidated in the financial statements of SCARF. These consolidated financial statements are available from its registered office.

1.2
Turnover

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recover able.

1.3
Cash and cash equivalents

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.

SCARF ENTERPRISES (SCOTLAND) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 4 -
1.4
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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.6
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
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.

SCARF ENTERPRISES (SCOTLAND) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
2
Judgements and key sources of estimation uncertainty
(Continued)
- 5 -
Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Overhead Recharges

Overheads are recharged from the parent company, SCARF, based on an estimated allocation of 10% of non-staff overhead costs. This estimate reflects management’s judgement of the subsidiary’s share of central resource usage during the year. The basis of this allocation is reviewed periodically to ensure it remains appropriate as the subsidiary’s activity levels change.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
4
4
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
220,724
36,433
Other debtors
19,125
54,512
239,849
90,945
5
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
250
563
Taxation and social security
52,954
7,390
Other creditors
392,376
374,191
Accruals and deferred income
4,000
6,950
449,580
389,094
6
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of £1 each
25,000
25,000
25,000
25,000
SCARF ENTERPRISES (SCOTLAND) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 6 -
7
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its profit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Senior Statutory Auditor:
Lesley Campbell, BA, C.A.
Statutory Auditor:
Findlays Audit Limited
Date of audit report:
29 October 2025
8
Parent company

Scarf Enterprises (Scotland) Limited is a wholly owned subsidiary of SCARF (charity registration number SC006901 and company registration number SC094819), a charitable company registered in Scotland. The results of Scarf Enterprises (Scotland) Limited are included in the consolidated financial statements of SCARF.

The company has take advantage of FRS102 section 33 paragraph (a), which allows exemptions from disclosure of related party transactions within group companies.

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