Company registration number SC618660 (Scotland)
2Sigma Survey Services Ltd
Unaudited financial statements
for the year ended 31 January 2023
Pages for filing with registrar
2Sigma Survey Services Ltd
Chartered Accountants' report to the director on the preparation of the
unaudited statutory financial statements of 2Sigma Survey Services Ltd
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 2Sigma Survey Services Ltd for the year ended 31 January 2023 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 director of 2Sigma Survey Services Ltd, in accordance with the terms of our engagement letter dated 7 May 2019. Our work has been undertaken solely to prepare for your approval the financial statements of 2Sigma Survey Services Ltd and state those matters that we have agreed to state to the director of 2Sigma Survey Services Ltd 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 2Sigma Survey Services Ltd and its director, for our work or for this report.
It is your duty to ensure that 2Sigma Survey Services Ltd 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 2Sigma Survey Services Ltd. You consider that 2Sigma Survey Services Ltd 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 2Sigma Survey Services Ltd. 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
17 October 2023
2Sigma Survey Services Ltd
Balance sheet
as at 31 January 2023
31 January 2023
2
2023
2022
Notes
£
£
£
£
Current assets
Cash at bank and in hand
33,498
16,425
Creditors: amounts falling due within one year
(19,947)
(13,292)
Net assets
13,551
3,133
Capital and reserves
Called up share capital
10
10
Profit and loss reserves
13,541
3,123
Total equity
13,551
3,133
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 director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has 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.
The financial statements were approved and signed by the director and authorised for issue on 11 October 2023
Samuel Hosgood
Director
Company Registration No. SC618660
2Sigma Survey Services Ltd
Notes to the financial statements
for the year ended 31 January 2023
3
1
Accounting policies
Company information
2Sigma Survey Services Ltd is a private company limited by shares incorporated in Scotland. The registered office is Alberta, Golf Road, Aboyne, AB34 5HP.
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 company fulfils its contractual obligations to customers by supplying services and excludes value added tax.
1.3
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.
2
Directors' transactions
During the year, the director entered into the following advances and credits with the company:
Description
Opening credit balance
Amounts advanced
Amounts repaid
Closing credit balance
£
£
£
£
Samuel Hosgood - Director's loan
1,034
297
(1,097)
234
1,034
297
(1,097)
234