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COMPANY REGISTRATION NUMBER: SC602300
Certa EST Consulting Ltd
Filleted Unaudited Financial Statements
31 July 2023
Certa EST Consulting Ltd
Financial Statements
Year ended 31 July 2023
Contents
Page
Officers and professional advisers
1
Statement of financial position
2
Notes to the financial statements
4
Certa EST Consulting Ltd
Officers and Professional Advisers
Director
Robert Nicol
Registered office
35 The Loaning
Alloway
Ayr
South Ayrshire
KA7 4QL
Accountants
Charles Burrows & Co
Chartered Accountants
7 Palmerston Place
Edinburgh
EH12 5AH
Certa EST Consulting Ltd
Statement of Financial Position
31 July 2023
2023
2022
Note
£
£
£
£
Fixed assets
Tangible assets
5
439
Current assets
Debtors
6
2,617
7,822
Cash at bank and in hand
863
566
-------
-------
3,480
8,388
Creditors: amounts falling due within one year
7
3,319
2,287
-------
-------
Net current assets
161
6,101
----
-------
Total assets less current liabilities
161
6,540
----
-------
Net assets
161
6,540
----
-------
Capital and reserves
Called up share capital
100
100
Profit and loss account
61
6,440
----
-------
Shareholders funds
161
6,540
----
-------
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 statement of income and retained earnings 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.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Certa EST Consulting Ltd
Statement of Financial Position (continued)
31 July 2023
These financial statements were approved by the board of directors and authorised for issue on 9 February 2024 , and are signed on behalf of the board by:
Robert Nicol
Director
Company registration number: SC602300
Certa EST Consulting Ltd
Notes to the Financial Statements
Year ended 31 July 2023
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 35 The Loaning, Alloway, Ayr, South Ayrshire, KA7 4QL.
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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
Computer equipment
-
33% straight line
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
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Tangible assets
Equipment
£
Cost
At 1 August 2022 and 31 July 2023
2,582
-------
Depreciation
At 1 August 2022
2,143
Charge for the year
439
-------
At 31 July 2023
2,582
-------
Carrying amount
At 31 July 2023
-------
At 31 July 2022
439
-------
6. Debtors
2023
2022
£
£
Trade debtors
4,005
Corporation tax repayable
1,045
111
Other debtors
1,572
3,706
-------
-------
2,617
7,822
-------
-------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Accruals and deferred income
720
Director loan accounts
2,599
2,287
-------
-------
3,319
2,287
-------
-------
8. Related party transactions
The company was under the control of Robert Nicol throughout the current and previous year. Mr Nicol is the sole director and a major shareholder. At 31 July 2023, the company was due £2,599 (31 July 2022 - £2,287) to Mr Nicol. This loan is interest free with no fixed terms for repayment.