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REGISTERED NUMBER: SC383119 (Scotland)









Financial Statements

For The Year Ended 31 August 2023

for

Cahill Jack Associates Limited

Cahill Jack Associates Limited (Registered number: SC383119)






Contents of the Financial Statements
For The Year Ended 31 August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Cahill Jack Associates Limited

Company Information
For The Year Ended 31 August 2023







DIRECTORS: J Cahill
A Fraser





REGISTERED OFFICE: 91 Alexander Street
Airdrie
ML6 0BD





REGISTERED NUMBER: SC383119 (Scotland)





ACCOUNTANTS: Cahill Jack Associates Limited
91 Alexander Street
Airdrie
North Lanarkshire
ML6 0BD

Cahill Jack Associates Limited (Registered number: SC383119)

Balance Sheet
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 66,462 84,795
Tangible assets 5 13,367 12,649
79,829 97,444

CURRENT ASSETS
Stocks 27,555 10,107
Debtors 6 101,485 90,785
Cash at bank 141,575 107,865
270,615 208,757
CREDITORS
Amounts falling due within one year 7 137,504 85,426
NET CURRENT ASSETS 133,111 123,331
TOTAL ASSETS LESS CURRENT
LIABILITIES

212,940

220,775

PROVISIONS FOR LIABILITIES 1,958 1,378
NET ASSETS 210,982 219,397

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 209,982 218,397
SHAREHOLDERS' FUNDS 210,982 219,397

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

Cahill Jack Associates Limited (Registered number: SC383119)

Balance Sheet - continued
31 August 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 7 November 2023 and were signed on its behalf by:




J Cahill - Director



A Fraser - Director


Cahill Jack Associates Limited (Registered number: SC383119)

Notes to the Financial Statements
For The Year Ended 31 August 2023

1. STATUTORY INFORMATION

Cahill Jack Associates Limited 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.

The company's presentational currency is pounds sterling.

Significant judgements and estimates
The preparation of financial information in compliance with FRS 102 requires management to make judgements, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates.

The directors have identified the following areas which give rise to estimation uncertainty:

1) Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and any residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation and maintenance programmes are taken into account.

Turnover
Turnover is derived from income generated in respect of accountancy services provided net of value added tax.

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding value added tax and any other sales taxes The following criteria must also be met before revenue is recognised:

Rendering of services
Revenue from agreement to provide services is recognised in the period in which the services are provided when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;
- it is probable that the company will receive the consideration due under the agreement.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of fifteen years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Cahill Jack Associates Limited (Registered number: SC383119)

Notes to the Financial Statements - continued
For The Year Ended 31 August 2023

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

The company adds to the carrying amount of an item of fixed asset the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the
company. Any carrying amount of the replaced part is written off. Repairs and maintenance are charged to
the profit and loss during the year in which they are incurred except for any parts unused at the year end.
Asset residual values, useful lives and depreciation methods of relevant assets are reviewed, and adjusted
prospectively if appropriate. Gains and losses on disposals are determined by comparing the proceeds with
the carrying amount and recognised in the profit and loss during the year of disposal.

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Government grants
Grants considered to be revenue in nature are credited to the profit and loss account in the same period as the related expenditure.

Work in progress
Work in progress relates to unbilled work at the period end and is based on the value of the income to be derived from that work.

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.

Cahill Jack Associates Limited (Registered number: SC383119)

Notes to the Financial Statements - continued
For The Year Ended 31 August 2023

2. ACCOUNTING POLICIES - continued

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.

Other items
Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest rate method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.

Holiday pay
A liability is recognised to the extent of any unused holiday pay entitlement which has accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date.

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans and directors' loans..

Loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method. Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2022
and 31 August 2023 275,000
AMORTISATION
At 1 September 2022 190,205
Charge for year 18,333
At 31 August 2023 208,538
NET BOOK VALUE
At 31 August 2023 66,462
At 31 August 2022 84,795

Cahill Jack Associates Limited (Registered number: SC383119)

Notes to the Financial Statements - continued
For The Year Ended 31 August 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2022 60,197
Additions 5,172
At 31 August 2023 65,369
DEPRECIATION
At 1 September 2022 47,548
Charge for year 4,454
At 31 August 2023 52,002
NET BOOK VALUE
At 31 August 2023 13,367
At 31 August 2022 12,649

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade debtors 79,709 68,430
Other debtors 21,776 22,355
101,485 90,785

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade creditors 1,921 5,330
Taxation and social security 86,111 72,020
Other creditors 49,472 8,076
137,504 85,426

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Other creditors include loans from the directors of £41,784 (2022: £19 )

9. RELATED PARTY DISCLOSURES

During the year, total dividends of £79,800 were paid to the directors .

The above includes dividends paid to the relatives of one of the directors.

The company paid £26,400 per annum for rent of the business premises which is part owned personally by one of the directors.
The company paid £1,000 interest to one of the directors.

10. ULTIMATE CONTROLLING PARTY

In the opinion of the directors, there is no single ultimate controlling party.