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COMPANY REGISTRATION NUMBER: 04231712
SCALA CONSULTING LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 July 2023
SCALA CONSULTING LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 31 JULY 2023
Contents
Pages
Balance sheet 1 to 2
Notes to the financial statements 3 to 7
SCALA CONSULTING LIMITED
BALANCE SHEET
31 July 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
78,453
105,200
Investments
6
11,338
11,338
------------
------------
89,791
116,538
Current assets
Debtors
7
144,663
301,565
Cash at bank and in hand
982,272
1,134,822
------------
------------
1,126,935
1,436,387
Creditors: amounts falling due within one year
8
( 295,539)
( 776,327)
------------
------------
Net current assets
831,396
660,060
------------
------------
Total assets less current liabilities
921,187
776,598
Provisions
Taxation including deferred tax
9
( 9,975)
( 9,346)
------------
------------
Net assets
911,212
767,252
------------
------------
Capital and reserves
Called up share capital
11
1,010
1,010
Profit and loss account
910,202
766,242
------------
------------
Shareholders funds
911,212
767,252
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
SCALA CONSULTING LIMITED
BALANCE SHEET (continued)
31 July 2023
These financial statements were approved by the board of directors and authorised for issue on 11 September 2023 , and are signed on behalf of the board by:
J F Perry Director
Company registration number: 04231712
SCALA CONSULTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 JULY 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Bramleigh House, 190 Birkby Hall Road, Birkby, Hudddersfield, HD2 2XD.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover comprises the value of services provided excluding value added tax. In respect of contracts for on-going services turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of contracts for on-going services is recognised by reference to the stage of completion.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Transactions in foreign currencies are translated at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities in foreign currencies are translated at the rates of exchange ruling at the balance sheet date. Where exchange differences result from the translation of foreign currency borrowings raised to acquire foreign assets they are taken to reserves and offset against the differences arising from the translation of those assets. All other exchange differences are dealt with through the profit and loss account.
Tangible assets
Tangible assets are initally recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor vehicles
-
25% reducing balance
Computer equipment
-
33% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 10 (2022: 11 ).
5. Tangible assets
Motor vehicles
Computer equipment
Total
£
£
£
Cost
At 1 August 2022 and 31 July 2023
240,405
4,105
244,510
------------
------------
------------
Depreciation
At 1 August 2022
136,080
3,230
139,310
Charge for the year
26,081
666
26,747
------------
------------
------------
At 31 July 2023
162,161
3,896
166,057
------------
------------
------------
Carrying amount
At 31 July 2023
78,244
209
78,453
------------
------------
------------
At 31 July 2022
104,325
875
105,200
------------
------------
------------
6. Investments
Fixed asset investments
£
Cost
At 1 August 2022 and 31 July 2023
11,338
------------
Impairment
At 1 August 2022 and 31 July 2023
------------
Carrying amount
At 31 July 2023
11,338
------------
At 31 July 2022
11,338
------------
Subsidiaries, associates and other investments
The company holds 50% of the share capital of Suzhou SCALA Supply Chain Management Consulting Co, Ltd, a company registered in China.
7. Debtors
2023
2022
£
£
Trade debtors
134,370
223,142
Prepayments and accrued income
10,293
78,423
------------
------------
144,663
301,565
------------
------------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
42,527
12,797
Accruals and deferred income
130,668
612,187
Corporation tax
52,060
77,636
Social security and other taxes
66,588
70,002
Director's loan account
3,696
3,705
------------
------------
295,539
776,327
------------
------------
9. Provisions
Deferred tax (note 10)
£
At 1 August 2022
9,346
Charge against provision
629
------------
At 31 July 2023
9,975
------------
10. Deferred tax
The deferred tax included in the balance sheet is as follows:
2023
2022
£
£
Included in provisions (note 9)
9,975
9,346
------------
------------
The deferred tax account consists of the tax effect of timing differences in respect of:
2023
2022
£
£
Accelerated capital allowances
19,613
19,988
Other timing differences
( 9,638)
( 10,642)
------------
------------
9,975
9,346
------------
------------
11. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
'A' Ordinary shares of £ 1 each
200
200
200
200
'B' Ordinary shares of £ 1 each
60
60
60
60
'C' Ordinary shares of £ 1 each
750
750
750
750
------------
------------
------------
------------
1,010
1,010
1,010
1,010
------------
------------
------------
------------
12. Related party transactions
The director's loan account of £3,696 (2022: £3,705) included in creditors is unsecured, repayable on demand and currently interest free.
13. Control
The company is controlled by J F Perry . On 1 August 2023 control of the company was transferred to the Scala Consulting Employee-Ownership Trust.