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Registered number: SC796630 SIMPLE TECHNICAL SOLUTIONS MECHANICAL ENGINEERING LIMITED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2024
SIMPLE TECHNICAL SOLUTIONS MECHANICAL ENGINEERING LIMITED COMPANY INFORMATION
Directors | Mr G Riddell (appointed 25 January 2024)
| Mr K Whyte (appointed 1 March 2024, resigned 1 March 2024)
Registered number | SC796630
Registered office | Unit 3
| Bankhead Avenue
| Bankhead Industrial Estate
| Glenrothes
| KY7 6JG
Accountants | EQ Accountants Limited
| Chartered Accountants
| Pentland House
| Saltire Centre
| Glenrothes
| Fife
| KY6 2AH
SIMPLE TECHNICAL SOLUTIONS MECHANICAL ENGINEERING LIMITED REGISTERED NUMBER: SC796630 STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2024
|  | 2024
|  | £
Fixed assets |  |  |
Tangible assets | 4 |  | 305,344
|  |  | 305,344
Current assets |  |  |
Debtors: amounts falling due within one year | 5 | 306,528 |
|  | 306,528 |
Creditors: amounts falling due within one year | 6 | (674,827) |
Net current (liabilities)/assets |  |  | (368,299)
Total assets less current liabilities |  |  | (62,955)
Creditors: amounts falling due after more than one year | 7 |  | (56,072)
Net (liabilities)/assets |  |  | (119,027)
Capital and reserves |  |  |
Called up share capital | 8 |  | 1
Profit and loss account |  |  | (119,028)
|  |  | (119,027)
The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006. The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been 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 income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf on 9 April 2026.
Mr G Riddell
Director
The notes on pages 2 to 6 form part of these financial statements. Page 1
SIMPLE TECHNICAL SOLUTIONS MECHANICAL ENGINEERING LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2024
1. | General information
The company is limited by shares and incorporated in Scotland; Registration Number: SC796630. The registered office is Unit 3 Bankhead Avenue, Bankhead Industrial Estate, Glenrothes, KY7 6JG. The financial statements are presented in Sterling which is the functional currency of the Company and rounded to the nearest £. The Company was incorporated on 25 January 2024 and started trading on 31 January 2024. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and the Companies Act 2006. 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 following principal accounting policies have been applied:
| 2.2 | Going concern
The financial statements have been prepared on a going concern basis. Based on budgets prepared and the continued support of group companies, the director has a reasonable expectation that the company has adequate resources to continue trading for the foreseeable future. The company, therefore, continues to adopt the going concern basis in preparing the financial statements.
| 2.3 | Turnover
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised: Sale of goods Turnover from the sale of goods is recognised when all of the following conditions are satisfied: ∙the Company has transferred the significant risks and rewards of ownership to the buyer; ∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; ∙the amount of turnover can be measured reliably; ∙it is probable that the Company will receive the consideration due under the transaction; and ∙the costs incurred or to be incurred in respect of the transaction can be measured reliably. Page 2
SIMPLE TECHNICAL SOLUTIONS MECHANICAL ENGINEERING LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.4 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.
| 2.5 | Current and deferred taxation
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
| 2.6 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Page 3
SIMPLE TECHNICAL SOLUTIONS MECHANICAL ENGINEERING LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.6 | Tangible fixed assets (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight line and the reducing balance method:. Depreciation is provided on the following basis:
|  |  |  | Leasehold property | - | 10% | straight line
|  |  |  | Plant and machinery | - | 20% | reducing balance
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.7 | Financial instruments
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments. The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102. 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. | Employees
| The average monthly number of employees, including directors, during the period was 1.
Page 4
SIMPLE TECHNICAL SOLUTIONS MECHANICAL ENGINEERING LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2024
4. | Tangible fixed assets
|  | Plant and machinery
|  | £
| Cost or valuation |
| Additions | 335,609
| At 31 December 2024 | 335,609
| Depreciation |
| Charge for the period on owned assets | 30,265
| At 31 December 2024 | 30,265
| Net book value |
| At 31 December 2024 | 305,344
5. | Debtors
|  |  |  |  | 2024
|  |  |  |  | £
| Trade debtors | 146,677
| Amounts owed by group undertakings | 115,140
| Prepayments and accrued income | 5,035
| Deferred taxation | 39,676
|  | 306,528
6. | Creditors: Amounts falling due within one year
|  |  |  |  | 2024
|  |  |  |  | £
| Bank loans | 95,317
| Trade creditors | 36,017
| Amounts owed to group undertakings | 527,105
| Other taxation and social security | 8,917
| Accruals and deferred income | 7,471
|  | 674,827
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SIMPLE TECHNICAL SOLUTIONS MECHANICAL ENGINEERING LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2024
7. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2024
|  |  |  |  | £
| Bank loans | 56,072
8. | Share capital
|  |  |  |  | 2024
|  |  |  |  | £
|  | Allotted, called up and fully paid |
|  | 1 Ordinary share of £1.00 | 1
On incorporation, 1 ordinary share of £1.00 was issued.
9. | Related party transactions
| Included within creditors is an amount of £527,105 due to GR8 Developments Limited, a group company. No interest or repayment terms have been agreed. Included within debtors is an amount of £115,139 due from Simple Technical Solutions Limited, a group company. No interest or repayment terms have been agreed.
10. | Controlling party
From incorporation, the controlling party was Simple Technical Solutions Holdings Limited, a company incorporated in Scotland; Registration number SC616765. The registered office is Unit 3, Bankhead Avenue, Bankhead Industrial Estate, Glenrothes, KY7 6JG.
Page 6