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REGISTERED NUMBER: SC625152 (Scotland)












Financial Statements

for the Year Ended 31 March 2023

for

Correctair Solutions (Scotland) Ltd

Correctair Solutions (Scotland) Ltd (Registered number: SC625152)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Correctair Solutions (Scotland) Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Mrs M Hannigan
D Kane
I Mckenzie





SECRETARY: Mrs M Hannigan





REGISTERED OFFICE: Radleigh House
1 Golf Road
Clarkston
Glasgow
G76 7HU





REGISTERED NUMBER: SC625152 (Scotland)





ACCOUNTANTS: O'Haras Chartered Accountants
Radleigh House
1 Golf Road
Clarkston
Glasgow
G76 7HU

Correctair Solutions (Scotland) Ltd (Registered number: SC625152)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 490,424 262,711

CURRENT ASSETS
Debtors 5 974,179 310,736
Cash at bank 57,237 139,460
1,031,416 450,196
CREDITORS
Amounts falling due within one year 6 306,407 223,449
NET CURRENT ASSETS 725,009 226,747
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,215,433

489,458

CREDITORS
Amounts falling due after more than one
year

7

(88,729

)

(4,546

)

PROVISIONS FOR LIABILITIES (79,425 ) -
NET ASSETS 1,047,279 484,912

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings 1,047,278 484,911
1,047,279 484,912

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Correctair Solutions (Scotland) Ltd (Registered number: SC625152)

Balance Sheet - continued
31 March 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 September 2023 and were signed on its behalf by:





I Mckenzie - Director


Correctair Solutions (Scotland) Ltd (Registered number: SC625152)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Correctair Solutions (Scotland) Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
The directors are satisfied that the Company will have access to sufficient funds to ensure that all liabilities will be met as they fall due over a period of at least 12 months from the approval date of these financial statements. Consequently, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Revenue
Revenue represents the amounts derived from the provision of goods and services, excluding value added tax and trade discounts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Taxation
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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Correctair Solutions (Scotland) Ltd (Registered number: SC625152)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2022 - 21 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 135,732 751 187,007 9,298 332,788
Additions 2,118 1,943 308,970 2,456 315,487
Disposals - - - (1,857 ) (1,857 )
At 31 March 2023 137,850 2,694 495,977 9,897 646,418
DEPRECIATION
At 1 April 2022 29,238 360 35,812 4,667 70,077
Charge for year 16,105 204 67,595 2,219 86,123
Eliminated on disposal - - - (206 ) (206 )
At 31 March 2023 45,343 564 103,407 6,680 155,994
NET BOOK VALUE
At 31 March 2023 92,507 2,130 392,570 3,217 490,424
At 31 March 2022 106,494 391 151,195 4,631 262,711

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 973,305 299,775
Other debtors 874 10,961
974,179 310,736

Correctair Solutions (Scotland) Ltd (Registered number: SC625152)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 30,740 7,793
Trade creditors 11,559 16,279
Taxation and social security 244,211 196,584
Other creditors 19,897 2,793
306,407 223,449

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 88,729 4,546

8. CALLED UP SHARE CAPITAL

** POSTING HAS BEEN MADE TO SHARE CAPITAL 1 ACCOUNT ON TRIAL BALANCE BUT NO CORRESPONDING ENTRY HAS BEEN MADE ON CLIENT SCREEN FOR SHARE CAPITAL 1
THIS NOTE WILL THEREFORE NOT AGREE TO AMOUNT SHOWN ON
BALANCE SHEET