REGISTERED NUMBER: SC427492 (Scotland)

Scott Oil Technology Tools Ltd

Financial Statements For The Year Ended 31 July 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Ms S S C Ramsay

Mr M J S Ramsay

SECRETARY:

Ms S A Ramsay

REGISTERED OFFICE:

Seaview

Findhorn

Moray

IV36 3YE

REGISTERED NUMBER:

SC427492 (Scotland)

ACCOUNTANTS:

The Long Partnership

4 North Guildry Street

Elgin

Moray

IV30 1JR

BANKERS:

Bank of Scotland

PO Box 1000

Forres

BX2 1LB

CURRENT ASSETS

Debtors

5

12,412

12,137

Cash at bank

1

-

12,413

12,137

CREDITORS

Amounts falling due within one year

6

29,820

27,159

NET CURRENT LIABILITIES

(17,407

)

(15,022

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(17,407

)

(15,022

)

CREDITORS

Amounts falling due after more than one year

7

5,914

6,116

NET LIABILITIES

(23,321

)

(21,138

)

CAPITAL AND RESERVES

Called up share capital

8

1,000

1,000

Retained earnings

9

(24,321

)

(22,138

)

SHAREHOLDERS' FUNDS

(23,321

)

(21,138

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 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 15 December 2025 and were signed on its behalf by:

Mr M J S Ramsay - Director

1.	STATUTORY INFORMATION

Scott Oil Technology Tools Ltd 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Equipment

-

33% on cost

Going concern

The statement of financial position shows a deficit on shareholders funds of £23,321, this includes amounts owed by the company to the director of £2,489. The shareholder has confirmed that he will maintain this level of support to enable the company to continue to operate for the foreseeable future. Throughout the year, the company has been negotiating a significant investment into the company. The directors are confident in securing this investment in the following financial year. The accounts are therefore drawn up on a going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4.	TANGIBLE FIXED ASSETS

Equipment

£

COST

At 1 August 2023

and 31 July 2024

1,125

DEPRECIATION

At 1 August 2023

and 31 July 2024

1,125

NET BOOK VALUE

At 31 July 2024

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.24

31.7.23

£

£

Other debtors

12,412

12,137

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.24

31.7.23

£

£

Bank loans and overdrafts

1,680

1,722

Trade creditors

10,882

-

Taxation and social security

8,560

9,101

Other creditors

8,698

16,336

29,820

27,159

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.7.24

31.7.23

£

£

Bank loans

5,914

6,116

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.24

31.7.23

value:

£

£

100,000

Ordinary

.01

1,000

1,000

9.

RESERVES

Retained

earnings

£

At 1 August 2023

(22,138

)

Deficit for the year

(2,183

)

At 31 July 2024

(24,321

)

10.	RELATED PARTY DISCLOSURES

As at 31 July 2023 the company owed the director £Nil. During the year the director met expenses of behalf of the company totalling £2,489. At 31 July 2024 the company owed the director £2,489. This loan is interest free and has no fixed repayment terms.

At 31 July 2023 the company was owed £10,365 by Spaceport Scotland Ltd, a company under common control. During the year Scott Oil Technology Tools Ltd paid expenses on behalf of Spaceport Scotland Ltd totalling £275.At 31 July 2024 Spaceport Scotland owed the company £10,640. This loan is interest free and has no fixed terms of repayment.

At 31 July 2023 and 31 July 2024 the company owed £5,986 to Scotland Electronics Ltd, a company under common control.