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Registration number: SC481970

Action Resource Management Limited

Unaudited Financial Statements

for the Year Ended 31 July 2023

 

Action Resource Management Limited

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 6

 

Action Resource Management Limited

(Registration number: SC481970)
Statement of Financial Position as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,974

2,960

Current assets

 

Debtors

5

14,786

26,873

Cash at bank and in hand

 

725

1,604

 

15,511

28,477

Creditors: Amounts falling due within one year

6

(31,155)

(28,937)

Net current liabilities

 

(15,644)

(460)

Net (liabilities)/assets

 

(13,670)

2,500

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

(13,770)

2,400

Shareholders' (deficit)/funds

 

(13,670)

2,500

For the financial 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 accounts for the year in question in accordance with section 476; and

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the Board on 30 July 2024 and signed on its behalf by:
 

.........................................
Mr P Goldie
Director

.........................................
Mrs D Dewar
Director

 
     
 

Action Resource Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

1

General information

The Company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
29 Commercial Street
Dundee
Tayside
DD1 3DG
Scotland

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

 

Action Resource Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual agreement, 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.
 

 

Action Resource Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 4 (2022 - 4).

 

Action Resource Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 August 2022

3,946

3,946

At 31 July 2023

3,946

3,946

Depreciation

At 1 August 2022

986

986

Charge for the year

986

986

At 31 July 2023

1,972

1,972

Carrying amount

At 31 July 2023

1,974

1,974

At 31 July 2022

2,960

2,960

5

Debtors

Current

2023
£

2022
£

Trade debtors

5,872

26,873

Other debtors

8,914

-

 

14,786

26,873

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

26,712

23,113

Accruals and deferred income

4,443

4,443

Other creditors

-

1,381

31,155

28,937

 

Action Resource Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary of £1 each

100

100

100

100