Company registration number SC167727 (Scotland)
R J S (Scotland) Limited
Unaudited financial statements
for the year ended 31 December 2021
Pages for filing with registrar
R J S (Scotland) Limited
Chartered Accountants' report to the board of directors on the preparation of the
unaudited statutory financial statements of R J S (Scotland) Limited
1

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of R J S (Scotland) Limited for the year ended 31 December 2021 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the ICAS we are subject to its ethical and other professional requirements which are detailed at https://www.icas.com/professional-resources/practice/support-and-guidance/framework-for-the-preparation-of-accounts-revised-june-2020.

This report is made solely to the Board of Directors of R J S (Scotland) Limited, as a body, in accordance with the terms of our engagement letter dated 16 April 2010. Our work has been undertaken solely to prepare for your approval the financial statements of R J S (Scotland) Limited and state those matters that we have agreed to state to the Board of Directors of R J S (Scotland) Limited, as a body, in this report in accordance with the requirements of the ICAS as detailed at https://www.icas.com/professional-resources/practice/support-and-guidance/framework-for-the-preparation-of-accounts-revised-june-2020. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than R J S (Scotland) Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that R J S (Scotland) 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 R J S (Scotland) Limited. You consider that R J S (Scotland) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of R J S (Scotland) 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.

James Milne
Chartered Accountants
5 Bon Accord Square
Aberdeen
AB11 6XZ
15 August 2022
R J S (Scotland) Limited
Balance sheet
as at 31 December 2021
31 December 2021
2
2021
2020
Notes
£
£
£
£
Fixed assets
Investments
2
706,475
706,475
Current assets
Debtors
5,490
4,990
Cash at bank and in hand
14,694
22,287
20,184
27,277
Creditors: amounts falling due within one year
(111,556)
(104,131)
Net current liabilities
(91,372)
(76,854)
Net assets
615,103
629,621
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
615,003
629,521
Total equity
615,103
629,621

In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

R J S (Scotland) Limited
Balance sheet (continued)
as at 31 December 2021
31 December 2021
3
The financial statements were approved by the board of directors and authorised for issue on 12 August 2022 and are signed on its behalf by:
Raymond Simpson
Director
Company registration number SC167727
R J S (Scotland) Limited
Notes to the financial statements
for the year ended 31 December 2021
4
1
Accounting policies
Company information

R J S (Scotland) Limited is a private company limited by shares incorporated in Scotland. The registered office is Commercial House, 2 Rubislaw Terrace, Aberdeen, AB10 1XE.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents revenue recognised in the accounts. Revenue is recognised when the business fulfils its contractual obligations to customers by supplying services and excludes value added tax.

1.3
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

R J S (Scotland) Limited
Notes to the financial statements (continued)
for the year ended 31 December 2021
1
Accounting policies (continued)
5
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Fixed asset investments
2021
2020
£
£
Shares in group undertakings and participating interests
706,475
706,475
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