REGISTERED NUMBER: SC791050 (Scotland)

Scotia Works Limited

Unaudited Financial Statements

for the Year Ended 30th November 2025

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

7

Director:

Mrs K Kelly

Registered office:

Academy House

Shedden Park Road

Kelso

Roxburghshire

TD5 7AL

Business address:

Unit 3

Tweedside Industrial Estate

Tweedmouth

Berwick-Upon-Tweed

TD15 2XF

Registered number:

SC791050 (Scotland)

Accountants:

Rennie Welch LLP

Academy House

Shedden Park Road

Kelso

Roxburghshire

TD5 7AL

Fixed assets

Intangible assets

4

1,875

2,375

Tangible assets

5

31,412

36,750

33,287

39,125

Current assets

Stocks

5,000

5,000

Debtors

6

16,200

31,140

Cash at bank

3,608

19,144

24,808

55,284

Creditors

Amounts falling due within one year

7

85,635

72,821

Net current liabilities

(60,827

)

(17,537

)

Total assets less current liabilities

(27,540

)

21,588

Creditors

Amounts falling due after more than one year

8

(34,114

)

-

Provisions for liabilities

(5,968

)

(6,983

)

Net (liabilities)/assets

(67,622

)

14,605

Capital and reserves

Called up share capital

140

140

Share premium

49,960

49,960

Retained earnings

(117,722

)

(35,495

)

(67,622

)

14,605

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th November 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th November 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 20th August 2026 and were signed by:

Mrs K Kelly - Director

1.	Statutory information

Scotia Works Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2.	Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The company recognises revenue when the following conditions are satisfied:

- the significant risks and rewards of ownership have been transferred to the buyer.

- the company retains no continuing involvement or control over the goods.

- the amount of revenue can be measured reliably.

- it is probable that future economic benefit will flow to the entity.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery

-

15% on reducing balance

Computer equipment

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Office equipment

-

15% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Stocks

Stock is valued at the lower of cost and estimated selling price less costs to sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of completion.

Financial instruments

The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, other loans, accruals and directors' loans.

Directors' loans (being repayable on demand), trade debtors, trade creditors, other loans and accruals are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

Provisions

Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.

Employee benefits

Short term employee benefits, including holiday pay, are recognised as an expense in the Statement of Income and Retained Earnings in the period in which they are incurred.

Going concern

The director has considered the company's financial position for a minimum period of 12 months and beyond from the date of signing these financial statements. The director deems that the company is still in its early stages of trading as it continues to build a client base and establish itself within the marketplace. Post year end there has been a notable increase in the volume of enquires and quotations being requested building a pipeline of work. Although a significant loss has been recorded for the year resulting in a negative balance sheet the director believes this will be a short-term position. In the meantime, the company is being supported by a shareholder by way of loans to the company as well as other short-term funding. On this basis, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they have adopted the going concern basis in preparing the company's financial statements.

3.	Employees and directors

The average number of employees during the year was 6 (2024 - 6 ) .

4.	Intangible fixed assets

Computer

software

£

Cost

At 1st December 2024

and 30th November 2025

2,500

Amortisation

At 1st December 2024

125

Amortisation for year

500

At 30th November 2025

625

Net book value

At 30th November 2025

1,875

At 30th November 2024

2,375

5.	Tangible fixed assets

Plant and

Computer

Motor

Office

machinery

equipment

vehicles

equipment

Totals

£

£

£

£

£

Cost

At 1st December 2024

37,890

644

1,300

429

40,263

Additions

-

294

-

-

294

At 30th November 2025

37,890

938

1,300

429

40,557

Depreciation

At 1st December 2024

3,259

32

217

5

3,513

Charge for year

5,194

103

271

64

5,632

At 30th November 2025

8,453

135

488

69

9,145

Net book value

At 30th November 2025

29,437

803

812

360

31,412

At 30th November 2024

34,631

612

1,083

424

36,750

6.

Debtors: amounts falling due within one year

2025

2024

£

£

Trade debtors

11,594

26,047

Other debtors

4,606

5,093

16,200

31,140

7.

Creditors: amounts falling due within one year

2025

2024

£

£

Trade creditors

10,841

47,780

Taxation and social security

34,689

13,004

Other creditors

40,105

12,037

85,635

72,821

8.

Creditors: amounts falling due after more than one year

2025

2024

£

£

Other creditors

34,114

-

9.	Other financial commitments

At the year end the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £107,250 (2024: £140,250).

10.	Related party disclosures

During the year a shareholder provided loans to the company totalling £65,601. At the year end £57,456 was outstanding of which £16,001 was non-interest bearing. The balance is included in other creditors.