| REGISTERED NUMBER: |
| NORSERV FM LTD |
| Financial Statements for the Year Ended 31 May 2025 |
| REGISTERED NUMBER: |
| NORSERV FM LTD |
| Financial Statements for the Year Ended 31 May 2025 |
| NORSERV FM LTD (REGISTERED NUMBER: SC477352) |
| Contents of the Financial Statements |
| for the Year Ended 31 May 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| NORSERV FM LTD |
| Company Information |
| for the Year Ended 31 May 2025 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 26 Lewis Street |
| Stornoway |
| Isle of Lewis |
| HS1 2JF |
| NORSERV FM LTD (REGISTERED NUMBER: SC477352) |
| Balance Sheet |
| 31 May 2025 |
| 31.5.25 | 31.5.24 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The director acknowledges his 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. |
| NORSERV FM LTD (REGISTERED NUMBER: SC477352) |
| Balance Sheet - continued |
| 31 May 2025 |
| The financial statements were approved by the director and authorised for issue on |
| NORSERV FM LTD (REGISTERED NUMBER: SC477352) |
| Notes to the Financial Statements |
| for the Year Ended 31 May 2025 |
| 1. | STATUTORY INFORMATION |
| Norserv FM Ltd is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| The accounts are rounded to the nearest £1. |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Significant judgements and estimates |
| Significant judgements and estimates affect primarily the area of fixed assets in the balance sheet and depreciation charges in the profit and loss account. |
| Estimates are made of useful economic life and of residual value which affects the annual depreciation charge in the profit and loss account. It also affects the carrying net book value of the assets recorded in the balance sheet. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| NORSERV FM LTD (REGISTERED NUMBER: SC477352) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 May 2025 |
| 3. | ACCOUNTING POLICIES - continued |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| Invoice financing |
| The Company is engaged in an invoice financing arrangement. The arrangement is one where the company retains the benefits and risks in relation to the financed debts, and as such the company adopts a separate presentation accounting policy. The trade debtors figure, including financed debts, are recorded in full within trade debtors. The advance received from the finance company is included separately within Creditors amounts falling due within one year. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 5. | TANGIBLE FIXED ASSETS |
| Freehold | Garage | Plant and |
| property | improvements | machinery |
| £ | £ | £ |
| COST |
| At 1 June 2024 |
| Additions |
| At 31 May 2025 |
| DEPRECIATION |
| At 1 June 2024 |
| Charge for year |
| At 31 May 2025 |
| NET BOOK VALUE |
| At 31 May 2025 |
| At 31 May 2024 |
| NORSERV FM LTD (REGISTERED NUMBER: SC477352) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 May 2025 |
| 5. | TANGIBLE FIXED ASSETS - continued |
| Fixtures |
| and | Motor | Computer |
| fittings | vehicles | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 June 2024 |
| Additions |
| At 31 May 2025 |
| DEPRECIATION |
| At 1 June 2024 |
| Charge for year |
| At 31 May 2025 |
| NET BOOK VALUE |
| At 31 May 2025 |
| At 31 May 2024 |
| 6. | DEBTORS |
| 31.5.25 | 31.5.24 |
| £ | £ |
| Amounts falling due within one year: |
| Trade debtors |
| Amounts recoverable on contract |
| Other debtors |
| Amounts falling due after more than one year: |
| Amounts owed by associates |
| Aggregate amounts |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.5.25 | 31.5.24 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| NORSERV FM LTD (REGISTERED NUMBER: SC477352) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 May 2025 |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.5.25 | 31.5.24 |
| £ | £ |
| Bank loans |
| Hire purchase contracts |
| Other creditors |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 135,224 | 146,536 |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 31.5.25 | 31.5.24 |
| £ | £ |
| Bank overdrafts |
| Bank loans |
| Bank of Scotland Plc has a charge over the company assets as follows: |
| - All and whole the subjects Taigh na H-Aibhne, 4 Bunavoneader, Isle of Harris, HS3 3AL. |
| - Subjects known and forming Sunnyhill, Tarbert, Isle of Harris, HS3 3DA. |
| - Floating charge over the company. |
| Lloyds Bank Commercial Finance Ltd has a charge over the company assets as follows: |
| - Floating charge over the whole of the company property. |