Company No: SC645795 (Scotland)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Intangible assets	3	32,753		37,316
Tangible assets	4	4,031		11,022
		36,784		48,338
Current assets
Debtors	5	344,891		446,183
Cash at bank and in hand		552,273		693,249
		897,164		1,139,432
Creditors: amounts falling due within one year	6	( 122,427)		( 174,138)
Net current assets		774,737		965,294
Total assets less current liabilities		811,521		1,013,632
Provision for liabilities	7, 8	( 1,008)		( 2,756)
Net assets		810,513		1,010,876
Capital and reserves
Called-up share capital	9	100		100
Profit and loss account		810,413		1,010,776
Total shareholders' funds		810,513		1,010,876

For the financial year ending 31 December 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Fides Oak Ltd (registered number: SC645795) were approved and authorised for issue by the Board of Directors on 18 May 2026. They were signed on its behalf by:

Edward Mccullough Director		Angus Keith Scott Director
Paula Paterson Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Fides Oak Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Westpoint House Prospect Road, Arnhall Business Park, Westhill, AB32 6FJ, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets

0 - 10 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc.

3 - 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Cash and cash equivalents

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

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs .

Basic financial liabilities
Basic financial liabilities, including creditors, are recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	11		16

3. Intangible assets

	Other intangible assets		Total
	£		£
Cost
At 01 January 2025	58,184		58,184
Additions	1,345		1,345
At 31 December 2025	59,529		59,529
Accumulated amortisation
At 01 January 2025	20,868		20,868
Charge for the financial year	5,908		5,908
At 31 December 2025	26,776		26,776
Net book value
At 31 December 2025	32,753		32,753
At 31 December 2024	37,316		37,316

4. Tangible assets

	Plant and machinery etc.		Total
	£		£
Cost
At 01 January 2025	35,842		35,842
Disposals	( 934)		( 934)
At 31 December 2025	34,908		34,908
Accumulated depreciation
At 01 January 2025	24,820		24,820
Charge for the financial year	6,991		6,991
Disposals	( 934)		( 934)
At 31 December 2025	30,877		30,877
Net book value
At 31 December 2025	4,031		4,031
At 31 December 2024	11,022		11,022

5. Debtors

	2025		2024
	£		£
Trade debtors	159,357		285,119
Other debtors	185,534		161,064
	344,891		446,183

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	57,819		9,395
Taxation and social security	33,601		122,827
Other creditors	31,007		41,916
	122,427		174,138

7. Provision for liabilities

	2025		2024
	£		£
Deferred tax	1,008		2,756

8. Deferred tax

	2025		2024
	£		£
At the beginning of financial year	( 2,756)		( 4,752)
Credited to the Statement of Income and Retained Earnings	1,748		1,996
At the end of financial year	( 1,008)		( 2,756)

9. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
49 A ordinary shares of £ 1.00 each	49		49
49 B ordinary shares of £ 1.00 each	49		49
1 C ordinary share of £ 1.00	1		1
1 D ordinary share of £ 1.00	1		1
	100		100

10. Financial commitments

Commitments

	2025		2024
	£		£
Total future minimum lease payments under non-cancellable operating leases	39,014		74,955