REPSCOT Limited - Period Ending 2021-12-31

REPSCOT Limited

Contents

Statement of Financial Position	1
Notes to the Financial Statements	2 to 4

REPSCOT Limited

(Registration number: SC361965)
Statement of Financial Position as at 31 December 2021

	Note	2021 £	2020 £
Current assets
Debtors	4	26	21
Cash at bank and in hand		977	1,007
		1,003	1,028
Creditors: Amounts falling due within one year	5	(44,207)	(41,057)
Net liabilities		(43,204)	(40,029)
Capital and reserves
Called up share capital		1	1
Income and expenditure account		(43,205)	(40,030)
Shareholders' deficit		(43,204)	(40,029)

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Comprehensive Income has been taken.

Approved and authorised by the Board on 28 September 2022 and signed on its behalf by:
 

......................................... Ms L C Grantham Director

REPSCOT Limited

Notes to the Financial Statements for the Year Ended 31 December 2021

1	General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
4th Floor
115 George Street
Edinburgh
EH2 4JN

The principal place of business is:
REPIC House
Waterfold Business Park
Bury
BL9 7BR

These financial statements were authorised for issue by the Board on 28 September 2022.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

After making the appropriate enquiries, the directors consider that the company has adequate resources to continue in operation for the foreseeable future. These enquiries have included reviewing the company's budget, forecasts, other financial information and a letter of support from the parent company REPIC Ltd. The directors therefore continue to adopt the going concern basis of accounting in preparing the accounts.

The company's financial statements are presented in Sterling, being the company's functional and presentational currency.

Going concern

The financial statements have been prepared on a going concern basis.

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 28 September 2022 was Iain Round BSc FCA, who signed for and on behalf of Beever and Struthers.

REPSCOT Limited

Notes to the Financial Statements for the Year Ended 31 December 2021

.........................................

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

Trade debtors

Short term debtors are measured at transaction price, less any impairment.

Trade creditors

Short term creditors are measured at the transaction price.

Financial instruments

Recognition and measurement
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.
 
 

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2020 - 3).

4

Debtors

	Note	2021 £	2020 £
Amounts owed by group undertakings	6	26	21
		26	21

5

Creditors

Creditors: amounts falling due within one year

	Note	2021 £	2020 £
Due within one year
Amounts owed to group undertakings	6	43,207	40,057
Accruals and deferred income		1,000	1,000
		44,207	41,057

REPSCOT Limited

Notes to the Financial Statements for the Year Ended 31 December 2021

6	Related party transactions

During the year the Company entered into transactions, in the ordinary course of business, with its parent, REPIC Limited. All transactions were non-trading in nature. Balances outstanding at 31 December, are as follows:

Amounts owed to REPIC Limited

	Parent
	2021 £	2020 £
At start of period	40,057	35,910
Movement in the year	3,150	4,147
At end of period	43,207	40,057

Amounts owed from REPIC Limited

	Parent
	2021 £	2020 £
At start of period	21	16
Movement in the year	5	5
At end of period	26	21

7	Parent and ultimate parent undertaking

The company's immediate parent is REPIC Limited, incorporated in England and Wales.