Registration number: SC432851

Specific IT Solutions Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 5

Specific IT Solutions Limited

Company Information

Director

S Philip

Registered office

2 George Square Castle Brae Dunfermline Fife KY11 8QF

Accountants

M&S Accountancy and Taxation Limited Unit 26, Dunfermline Business Centre Izatt Avenue Dunfermline Fife KY11 3BZ

Specific IT Solutions Limited

(Registration number: SC432851)
Balance Sheet as at 31 May 2025

	Note	2025 £	2024 £
Fixed assets
Investment property		280,000	329,729
Investments	4	224,000	224,000
		504,000	553,729
Current assets
Debtors	5	151,661	150,870
Cash at bank and in hand		462,482	225,306
		614,143	376,176
Creditors: Amounts falling due within one year	6	(3,259)	(9,690)
Net current assets		610,884	366,486
Net assets		1,114,884	920,215
Capital and reserves
Called up share capital	7	100	100
Retained earnings		1,114,784	920,115
Shareholders' funds		1,114,884	920,215

For the financial year ending 31 May 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 accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 19 December 2025
 

......................................... S Philip Director

Specific IT Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

1	General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
2 George Square
Castle Brae
Dunfermline
Fife
KY11 8QF

These financial statements were authorised for issue by the director on 19 December 2025.

2	Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of VAT.

Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

Investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

Specific IT Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 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.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2024 - 1).

4	Investments

	2025 £	2024 £
Investments in subsidiaries	224,000	224,000