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REGISTERED NUMBER: SC284062 (Scotland)















Unaudited Financial Statements

for the Year Ended 31 May 2023

for

Recad Ltd

Recad Ltd (Registered number: SC284062)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Recad Ltd

Company Information
for the Year Ended 31 May 2023







DIRECTOR: Mr R Esslemont





REGISTERED OFFICE: Torridon House
73-75 Regent Quay
Aberdeen
AB11 5AR





REGISTERED NUMBER: SC284062 (Scotland)





ACCOUNTANTS: SBP
Accountants
42 Queens Road
Aberdeen
AB15 4YE

Recad Ltd (Registered number: SC284062)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 702 1,380

CURRENT ASSETS
Debtors 5 8,137 22,332
Cash at bank 36,995 18,663
45,132 40,995
CREDITORS
Amounts falling due within one year 6 18,009 12,301
NET CURRENT ASSETS 27,123 28,694
TOTAL ASSETS LESS CURRENT
LIABILITIES

27,825

30,074

PROVISIONS FOR LIABILITIES 133 262
NET ASSETS 27,692 29,812

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 27,691 29,811
27,692 29,812

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

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

The director acknowledges his 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.

Recad Ltd (Registered number: SC284062)

Balance Sheet - continued
31 May 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 7 February 2024 and were signed by:





Mr R Esslemont - Director


Recad Ltd (Registered number: SC284062)

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

1. STATUTORY INFORMATION

Recad 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

Recad Ltd (Registered number: SC284062)

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

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 June 2022
and 31 May 2023 128 3,639 3,767
DEPRECIATION
At 1 June 2022 123 2,264 2,387
Charge for year 1 677 678
At 31 May 2023 124 2,941 3,065
NET BOOK VALUE
At 31 May 2023 4 698 702
At 31 May 2022 5 1,375 1,380

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 418 8,624
Other debtors 7,719 13,708
8,137 22,332

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Taxation and social security 16,647 10,296
Other creditors 1,362 2,005
18,009 12,301

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2023 and 31 May 2022:

31.5.23 31.5.22
£    £   
Mr R Esslemont
Balance outstanding at start of year (1,080 ) 20,488
Amounts advanced 1,080 298
Amounts repaid (360 ) (21,866 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (360 ) (1,080 )

8. ULTIMATE CONTROLLING PARTY

The company is controlled by the director who owns 100% of the called up share capital.