Company Registration No. SC245854 (Scotland)
ASTUTE (SCOTLAND) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
PAGES FOR FILING WITH REGISTRAR
James Hair Group Limited
59 Bonnygate
CUPAR
Fife
UK
KY15 4BY
ASTUTE (SCOTLAND) LIMITED
BALANCE SHEET
AS AT
30 JUNE 2025
30 June 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
131,485
521,667
Investments
5
100
100
131,585
521,767
Current assets
Stocks
22,402
15,029
Debtors
6
1,040,509
874,128
Cash at bank and in hand
296,531
149,210
1,359,442
1,038,367
Creditors: amounts falling due within one year
7
(307,022)
(395,898)
Net current assets
1,052,420
642,469
Total assets less current liabilities
1,184,005
1,164,236
Creditors: amounts falling due after more than one year
8
(105,144)
(57,271)
Provisions for liabilities
9
(24,390)
(49,376)
Net assets
1,054,471
1,057,589
Capital and reserves
Called up share capital
10
102
102
Profit and loss reserves
1,054,369
1,057,487
Total equity
1,054,471
1,057,589

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

For the financial year ended 30 June 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

ASTUTE (SCOTLAND) LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 JUNE 2025
30 June 2025
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 8 January 2026 and are signed on its behalf by:
Mr B M Sellars
Mrs P K Muir
Director
Director
Company Registration No. SC245854
ASTUTE (SCOTLAND) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
- 3 -
1
Accounting policies
Company information

Astute (Scotland) Limited is a private company limited by shares incorporated in Scotland. The registered office is Caxton House, Silvie Way, Orchardbank Industrial Estate, Forfar, DD8 1BF.

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.

1.2
Turnover

T urnover comprises the invoiced value of printing and stationery provided by the company, net of Value Added Tax and trade discounts.

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 5 years.

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
2% straight line
Plant and equipment
25% reducing balance
Fixtures and fittings
25% reducing balance
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Stocks

Stocks and work in progress including short term contracts are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving stocks. Cost comprises direct expenditure and an appropriate proportion of fixed and variable overheads.

ASTUTE (SCOTLAND) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 4 -

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.6
Financial instruments

Basic financial instruments are recognised at amortised cost using the effective interest method except for investments in non-convertible preference and non-puttable preference and ordinary shares, which are measured at fair value, with changes recognised in the profit and loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value, with charges recognised in profit and loss.

1.7
Taxation
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.8
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.

1.9
Pensions

The company operates a defined contribution pension scheme and the pension charge represents the amounts paid by the company to the funds in respect of the year.

1.10
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

ASTUTE (SCOTLAND) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 5 -
1.11
Government grants

Government grants are recognised at the fair value of the asset receive d or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Employees

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

2025
2024
Number
Number
Total
21
20
3
Intangible fixed assets
Goodwill
£
Cost
At 1 July 2024 and 30 June 2025
405,394
Amortisation and impairment
At 1 July 2024 and 30 June 2025
405,394
Carrying amount
At 30 June 2025
-
0
At 30 June 2024
-
0
ASTUTE (SCOTLAND) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 6 -
4
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 July 2024
549,882
717,979
41,230
-
0
1,309,091
Additions
-
0
14,864
-
0
22,000
36,864
Disposals
(549,882)
(83,250)
-
0
-
0
(633,132)
At 30 June 2025
-
0
649,593
41,230
22,000
712,823
Depreciation and impairment
At 1 July 2024
175,982
580,085
31,357
-
0
787,424
Depreciation charged in the year
-
0
34,486
2,468
1,375
38,329
Eliminated in respect of disposals
(175,982)
(68,433)
-
0
-
0
(244,415)
At 30 June 2025
-
0
546,138
33,825
1,375
581,338
Carrying amount
At 30 June 2025
-
0
103,455
7,405
20,625
131,485
At 30 June 2024
373,900
137,894
9,873
-
0
521,667
5
Fixed asset investments
2025
2024
£
£
Other investments other than loans
100
100
Movements in fixed asset investments
Investments other than loans
£
Cost or valuation
At 1 July 2024 & 30 June 2025
100
Carrying amount
At 30 June 2025
100
At 30 June 2024
100
ASTUTE (SCOTLAND) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 7 -
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
148,892
269,244
Amounts owed by group undertakings
883,270
600,596
Other debtors
2,384
1,504
Prepayments and accrued income
5,963
2,784
1,040,509
874,128
7
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
10,000
34,280
Obligations under finance leases (secured)
17,272
10,881
Other borrowings
227
227
Trade creditors
159,964
215,094
Corporation tax
52,567
57,213
Other taxation and social security
41,740
28,722
Other creditors
10,329
4,473
Directors current accounts
3,481
27,253
Accruals and deferred income
11,442
17,755
307,022
395,898
8
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
4,345
50,860
Obligations under finance leases (secured)
91,940
-
0
Government grants
7,725
5,050
Other creditors
1,134
1,361
105,144
57,271
9
Provisions for liabilities
2025
2024
£
£
Deferred tax liabilities
24,390
49,376
ASTUTE (SCOTLAND) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 8 -
10
Called up share capital
2025
2024
£
£
Ordinary share capital
Issued and fully paid
2 Ordinary A of £1 each
2
2
1 Ordinary B of £1 each
1
1
1 Ordinary C of £1 each
1
1
59 Ordinary AD of £1 each
59
59
39 Ordinary AP of £1 each
39
39
102
102
11
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2024
£
£
-
0
-
0
12
Related party transactions

During the year, funds to the sum of £415,000 (202 4 - £89,060) were advanced to a company that holds a controlling interest in Astute (Scotland) Limited. All other transactions with this company were on a commercial rate at arms length. At the year end, the company owed Astute (Scotland) Limited £1,016,796 (202 4 - £6 00,596).

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