Scott Pallet Management Services Limited is a private company limited by shares incorporated in Scotland. The registered office is Unit 7, Halbeath Interchange Business Park, Kingseat Road, Halbeath, Dunfermline, KY11 8RY.
The financial statements are prepared in sterling , which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.
This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements , including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group . T he company has therefore taken advantage of e xemptions from the following disclosure requirements:
- Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;
- Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues’ : Interest income/expense and net gains/losses for each category of financial instrument; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income ;
- Section 26 ‘Share based Payment’ : Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements ;
- Section 33 ‘Related Party Disclosures’ : Compensation for key management personnel .
The financial statements of the company are consolidated in the financial statements of Scott Group Investments Limited . These consolidated financial statements are available from its registered office, Unit 7 Halbeath Interchange Business Park, Kingseat Road, Halbeath, Dunfermline, Fife, KY11 8RY.
The company has not traded during the year or the preceding financial period. During this time, the company received no income and incurred no expenditure and therefore no Profit and loss account is presented in these financial statements.
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
The company is a wholly owned subsidiary of Scott Group Investments Limited, a company registered in Scotland under reference SC262153.
The company has availed itself of the exemption under FRS 102 Paragraph 33.1A in relation to subsidiary undertakings. This allows subsidiaries, where the parent holds 100% of the share capital to be exempt from disclosing inter company transactions where consolidated group accounts are published.
The ultimate controlling party is J C Scott, by virtue of his majority shareholding in Scott Group Investments Limited.