Company Registration No. SC548974 (Scotland)
Sips Eco Panel Systems Limited
Unaudited accounts
for the year ended 31 October 2025
Sips Eco Panel Systems Limited
Statement of financial position
as at 31 October 2025
Tangible assets
1,294,774
1,408,039
Investments
385,000
385,000
Debtors
9,538,699
7,561,472
Creditors: amounts falling due within one year
(6,351,833)
(5,014,233)
Net current assets
3,262,943
2,607,259
Total assets less current liabilities
4,942,717
4,400,298
Creditors: amounts falling due after more than one year
(1,359,449)
(982,061)
Provisions for liabilities
Other provisions
(293,350)
(414,694)
Net assets
3,289,918
3,003,543
Called up share capital
200
200
Profit and loss account
3,289,718
3,003,343
Shareholders' funds
3,289,918
3,003,543
For the year ending 31 October 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 24 July 2026 and were signed on its behalf by
Patrick Queen
Director
Company Registration No. SC548974
Sips Eco Panel Systems Limited
Notes to the Accounts
for the year ended 31 October 2025
Sips Eco Panel Systems Limited is a private company, limited by shares, registered in Scotland, registration number SC548974. The registered office is Unit 5 Boston Road, Glenrothes, KY6 2RE, Scotland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
10 years
Fixtures & fittings
4 years
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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 accounts. 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.
Sips Eco Panel Systems Limited
Notes to the Accounts
for the year ended 31 October 2025
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 November 2024
2,116,113
153,428
2,269,541
Additions
152,100
-
152,100
Disposals
(44,456)
-
(44,456)
At 31 October 2025
2,223,757
153,428
2,377,185
At 1 November 2024
776,044
85,458
861,502
Charge for the year
228,512
19,071
247,583
On disposals
(26,674)
-
(26,674)
At 31 October 2025
977,882
104,529
1,082,411
At 31 October 2025
1,245,875
48,899
1,294,774
At 31 October 2024
1,340,069
67,970
1,408,039
5
Investments
Subsidiary undertakings
Valuation at 1 November 2024
385,000
Valuation at 31 October 2025
385,000
Amounts falling due within one year
Trade debtors
1,381,575
1,313,658
Accrued income and prepayments
8,116,207
6,172,985
Other debtors
40,917
74,829
7
Creditors: amounts falling due within one year
2025
2024
Bank loans and overdrafts
461,188
139,103
Obligations under finance leases and hire purchase contracts
148,203
143,245
Trade creditors
1,226,484
921,818
Taxes and social security
541,294
588,583
Other creditors
142
764,442
Loans from directors
23,173
-
Accruals
3,907,843
2,457,042
Sips Eco Panel Systems Limited
Notes to the Accounts
for the year ended 31 October 2025
8
Creditors: amounts falling due after more than one year
2025
2024
Bank loans
688,960
483,096
Obligations under finance leases and hire purchase contracts
285,489
331,652
Other creditors
385,000
167,313
9
Average number of employees
During the year the average number of employees was 36 (2024: 43).