2022-06-012023-05-312023-05-31falseSC700040RIGHT OPTIONS PARTNERS 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RIGHT OPTIONS PARTNERS LTD

Registered Number
SC700040
(Scotland)

Unaudited Financial Statements for the Year ended
31 May 2023

RIGHT OPTIONS PARTNERS LTD
Company Information
for the year from 1 June 2022 to 31 May 2023

Directors

BRYSON, Margaret Ann
SUTHERLAND, Chris

Registered Address

6 Crofthead Road
Prestwick
KA9 1HW

Registered Number

SC700040 (Scotland)
RIGHT OPTIONS PARTNERS LTD
Balance Sheet as at
31 May 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets61,044-
1,044-
Current assets
Debtors540-
Cash at bank and on hand48,81822,551
49,35822,551
Creditors amounts falling due within one year86,9664,496
Net current assets (liabilities)42,39218,055
Total assets less current liabilities43,43618,055
Accruals and deferred income-218
Net assets43,43617,837
Capital and reserves
Profit and loss account43,43617,837
Reserves43,43617,837
The financial statements were approved and authorised for issue by the Board of Directors on 31 October 2023, and are signed on its behalf by:
BRYSON, Margaret Ann
Director
SUTHERLAND, Chris
Director

Registered Company No. SC700040
RIGHT OPTIONS PARTNERS LTD
Notes to the Financial Statements
for the year ended 31 May 2023

1.Statutory information
The company is a private company limited by guarantee and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Principal activities
The company's principal activity is Other education not elsewhere classified.
4.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Office Equipment3
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Taxation policy
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.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
5.Employee information

20232022
Average number of employees during the year22
6.Property, plant and equipment

Total

£
Cost or valuation
Additions1,158
At 31 May 231,158
Depreciation and impairment
Charge for year114
At 31 May 23114
Net book value
At 31 May 231,044
At 31 May 22-
7.Debtors within one year

2023

2022

££
Trade debtors / trade receivables540-
Total540-
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
8.Creditors within one year

2023

2022

££
Trade creditors / trade payables95-
Taxation and social security6,2464,184
Other creditors625312
Total6,9664,496
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.