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REGISTERED NUMBER: SC729159 (Scotland)




















Circular Enterprises Limited

Unaudited Financial Statements

for the Year Ended 31 March 2024






Circular Enterprises Limited (Registered number: SC729159)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Circular Enterprises Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mrs N R Johnson
D J Bryan
M J Morgan





SECRETARY: M F B Cook





REGISTERED OFFICE: Stirling Business Centre
Wellgreen Place
Stirling
FK8 2DZ





REGISTERED NUMBER: SC729159 (Scotland)





ACCOUNTANTS: Whitelaw Wells
9 Ainslie Place
Edinburgh
Midlothian
EH3 6AT

Circular Enterprises Limited (Registered number: SC729159)

Balance Sheet
31 March 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Debtors 4 7,846 1
Cash at bank 15,066 -
22,912 1
CREDITORS
Amounts falling due within one year 5 17,040 -
NET CURRENT ASSETS 5,872 1
TOTAL ASSETS LESS CURRENT LIABILITIES 5,872 1

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 6 5,871 -
SHAREHOLDERS' FUNDS 5,872 1

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Circular Enterprises Limited (Registered number: SC729159)

Balance Sheet - continued
31 March 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 September 2024 and were signed on its behalf by:





Mrs N R Johnson - Director


Circular Enterprises Limited (Registered number: SC729159)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Circular Enterprises Limited 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.

The financial statements have been prepared on the going concern principle, which assumes that the company will continue to trade in the foreseeable future.The directors have prepared projections that demonstrate continuing profits for the year ending 31 March 2025.

Turnover
Turnover represents Consortium and consultancy income which is recognised in the period in which the services were provided.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 not recognised in the financial statements. The company gifts all taxable profits to its parent charity and therefore does not incur any liability to tax.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Circular Enterprises Limited (Registered number: SC729159)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value except unlisted investments which continue to be measured at transaction value.

Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - NIL ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 7,846 -
Amounts owed by group undertakings - 1
7,846 1

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 48 -
Amounts owed to group undertakings 15,942 -
Accruals and deferred income 1,050 -
17,040 -

Circular Enterprises Limited (Registered number: SC729159)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. RESERVES
Retained
earnings
£   

Profit for the year 5,871
At 31 March 2024 5,871

7. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

8. ULTIMATE CONTROLLING PARTY

The company is a 100% subsidiary undertaking of Circular Communities Scotland, whose principal place of business is Stirling Business Centre, Wellgreen, Stirling, FK8 2DZ.