Company No: SC627953 (Scotland)

Contents

• Company Information
• Accountant's Report
• Balance Sheet
• Notes to the Unaudited Financial Statements

DIRECTOR	Scott James
REGISTERED OFFICE	Acumen Accountants & Advisors Ltd City South Office Park
	Bankhead Drive
	Aberdeen
	AB12 4XX
	United Kingdom
COMPANY NUMBER	SC627953(Scotland)
ACCOUNTANT	Acumen Accountants & Advisors Limited
	Bankhead Drive
	City South Office Park
	Portlethen
	Aberdeen
	AB12 4XX

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Scott James & Associates Limited for the financial period ended 30 April 2020 which comprises the Balance Sheet and the related notes 1 to 11 from the Company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at _http://www.accaglobal.com/rulebook_.

It is your duty to ensure that Scott James & Associates Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Scott James & Associates Limited. You consider that Scott James & Associates Limited is exempt from the statutory audit requirement for the financial period.

We have not been instructed to carry out an audit or a review of the financial statements of Scott James & Associates Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

This report is made solely to the Director of Scott James & Associates Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Scott James & Associates Limited and state those matters that we have agreed to state to you in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at _http://www.accaglobal.com/factsheet163_. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Scott James & Associates Limited and its Director as a body for our work or for this report.

Acumen Accountants & Advisors Limited
Accountants

Bankhead Drive
City South Office Park
Portlethen
Aberdeen
AB12 4XX

22 January 2021

		30.04.2020
	Note	£
Fixed assets
Intangible assets	5	484,499
		484,499
Current assets
Debtors	6	32,579
Cash at bank and in hand	7	23,095
		55,674
Creditors
Amounts falling due within one year	8	( 505,008)
Net current liabilities		(449,334)
Total assets less current liabilities		35,165
Net assets		35,165
Capital and reserves
Called-up share capital	9	100
Profit and loss account		35,065
Total shareholder's funds		35,165

For the financial period ending 30 April 2020 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial period in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Scott James & Associates Limited (registered number: SC627953) were approved and authorised for issue by the Director on 22 January 2021. They were signed on its behalf by:

Scott James Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period.

General information and basis of accounting

Scott James & Associates Limited (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 Acumen Accountants & Advisors Ltd City South Office Park, Bankhead Drive, Aberdeen, AB12 4XX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, 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.

The functional currency of Scott James & Associates Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

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

Finance costs

Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement 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.

Intangible assets

Goodwill

Goodwill arising on the acquisition of subsidiary undertakings and business, representing any excess of the fair value of the consideration given over the fair value of the identifiable assets and liabilities acquired, is capitalised and written off on a straight line basis over its useful economic life, which is 10 years. Provision is made for any impairment.

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 Profit and Loss Account as described below.

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.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

	Period from 17.04.2019 to 30.04.2020
	Number
Monthly average number of persons employed by the Company during the period, including director	3

3. Tax on profit

	Period from 17.04.2019 to 30.04.2020
	£
Current tax on profit
UK corporation tax	23,107
Total current tax	23,107
Total tax on profit	23,107

4. Dividends on equity shares

	Period from 17.04.2019 to 30.04.2020
	£
Amounts recognised as distributions to equity holders in the financial period:
Final dividend for the financial period ended 30 April 2020 of £41.00 per ordinary share	4,100
Interim dividend for the financial period ended 30 April 2020 of £204.00 per ordinary share	20,400
	24,500

5. Intangible assets

	Goodwill	Total
	£	£
Cost
At 17 April 2019	0	0
Additions	509,999	509,999
At 30 April 2020	509,999	509,999
Accumulated amortisation
At 17 April 2019	0	0
Charge for the financial period	25,500	25,500
At 30 April 2020	25,500	25,500
Net book value
At 30 April 2020	484,499	484,499

6. Debtors

	30.04.2020
	£
Trade debtors	32,579
	32,579

7. Cash and cash equivalents

	30.04.2020
	£
Cash at bank and in hand	23,095
	23,095

8. Creditors: amounts falling due within one year

	30.04.2020
	£
Trade creditors	4,258
Other creditors	477,043
Corporation tax	23,107
Other taxation and social security	600
	505,008

9. Called-up share capital and reserves

	30.04.2020
	£
Allotted, called-up and fully-paid
100 Ordinary Shares shares of £ 1.00 each	100
	100

10. Related party transactions

Transactions with the entity's director

	30.04.2020
	£
Scott James	94

At the year end there was an amount due to the director of £94.

11. Ultimate controlling party

The ultimate controlling party if Scott James as he owns 100% of the share capital.