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COMPANY REGISTRATION NUMBER: SC715570
CIGNPOST DIAGNOSTICS (SCOTLAND) LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
30 March 2023
CIGNPOST DIAGNOSTICS (SCOTLAND) LTD
STATEMENT OF FINANCIAL POSITION
30 March 2023
30 Mar 23
Note
£
£
Current assets
Debtors
4
1,135,775
Creditors: amounts falling due within one year
5
( 67,159)
-------------
Net current assets
1,068,616
-------------
Total assets less current liabilities
1,068,616
-------------
Capital and reserves
Called up share capital
1
Profit and loss account
1,068,615
-------------
Shareholders funds
1,068,616
-------------
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 comprehensive income has not been delivered.
For the period ending 30 March 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 period 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 .
These financial statements were approved by the board of directors and authorised for issue on 5 September 2024 , and are signed on behalf of the board by:
S D Whatley
Director
Company registration number: SC715570
CIGNPOST DIAGNOSTICS (SCOTLAND) LTD
NOTES TO THE FINANCIAL STATEMENTS
PERIOD FROM 19 NOVEMBER 2021 TO 30 MARCH 2023
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Radleigh House / 1 Golf Road, Clarkston, Glasgow, G76 7HU, Scotland.
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 and in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods. For business to business income, when the outcome of a transaction involving the rendering of services can be reliably estimated, revenue is measured by reference to the stage of completion of the service transaction at the end of the reporting period. This is measured by number of tests completed in the period. For consumer testing income, revenue is recognised upon completion of the test. 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 provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.
Income tax
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. Deferred tax is recognised in respect of all material timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Financial instruments
The company only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost. Financial liabilities - trade creditors and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition.
4. Debtors
30 Mar 23
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
1,135,775
-------------
5. Creditors: amounts falling due within one year
30 Mar 23
£
Corporation tax
67,159
---------
6. Events after the end of the reporting period
On 12 December 2023 a dividend of £ 1,068,614 was paid to the parent company.
7. Related party transactions
No transactions with related parties were undertaken such as are required to be disclosed under FRS 102 Section 1A.
8. Controlling party
The immediate parent undertaking is Cignpost Diagnostics Limited . The ultimate parent undertaking and the parent of the smallest and largest group to consolidate these financial statements is Cody Management Services Limited . Copies of the consolidated financial statements are available from Building X92, Cody Technology Park, Old Ively Road, Farnborough, Hampshire, GU14 0LX