Company registration number: SC278813
Unaudited financial statements
for the year ended 31 December 2023
for
Commissioning & Installation Services Limited
Pages for filing with the Registrar
Company registration number: SC278813
Commissioning & Installation Services Limited
Balance sheet
as at 31 December 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 4 36,954 45,118
36,954 45,118
Current assets
Debtors 16,906 17,292
Cash at bank and in hand 38,722 21,237
55,628 38,529
Creditors: amounts falling due within
one year
(48,638) (36,285)
Net current assets 6,990 2,244
Total assets less current liabilities 43,944 47,362
Creditors: Amounts falling due after
more than one year
(14,493) (25,264)
Provisions for liabilities (8,247) (10,261)
NET ASSETS 21,204 11,837
Capital and reserves
Called up share capital 100 100
Profit and loss account 21,104 11,737
TOTAL EQUITY 21,204 11,837
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the year ended 31 December 2023.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges their responsibilities to comply with the Companies Act 2006 in respect to accounting records and the preparation of financial statements.
1
Company registration number: SC278813
Commissioning & Installation Services Limited
Balance sheet - continued
as at 31 December 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 Profit and loss account has not been delivered to the Registrar.
Signed by:
Mr A Johansen, Director
25 September 2024
2
Commissioning & Installation Services Limited
Notes to the financial statements
for the year ended 31 December 2023
1 Company information
The company is registered in Scotland. Its registered number is SC278813. The company is limited by shares. Its registered office is 150 Mansel Street, Balornock, Glasgow, G21 4HN.
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 historic cost convention.
Presentation currency
The company's financial statements are presented in sterling.
Going concern
In preparing these financial statements, the director has assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company's ability to continue as a going concern. In making this assessment, the director takes into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.
The director considers that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial statements.
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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings:
Freehold property - 2% straight line
Plant and machinery etc.:
Plant and machinery - 25% reducing balance
Fixtures & fittings - 15% reducing balance
Motor vehicles - 20% reducing balance
Computer equipment - 33% reducing balance
Financial instruments
The company only enters into basic financial instruments that result in the recognition of financial assets like trade debtors and creditors. These are measured at amortised cost and are assessed at the end of each reporting period for objective evidence of impairment. If objective impairment is found, an impairment loss is recognised in the Statement of comprehensive income.
3
Commissioning & Installation Services Limited
Notes to the financial statements - continued
for the year ended 31 December 2023
2 Accounting policies - continued
Taxation
Taxation for the year comprises current and deferred taxation. Tax is recognised in the Profit and loss account, 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 taxation
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 been enacted or substantively enacted by the balance sheet date 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 probably that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.
The interest element of these obligations is charged to profit or lossover the relevant period. The capital element of the future payments is treated as a liability.
Retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit and loss in the period to which they relate.
3 Average number of employees
During the year the average number of employees was 3 (2022 - 4).
4
Commissioning & Installation Services Limited
Notes to the financial statements - continued
for the year ended 31 December 2023
4 Tangible fixed assets
Land and
buildings
Plant and
machinery
etc.
Totals
£ £ £
Cost
At 1 January 2023 5,475 108,834 114,309
At 31 December 2023 5,475 108,834 114,309
Depreciation
At 1 January 2023 1,400 67,791 69,191
Charge for year 110 8,054 8,164
At 31 December 2023 1,510 75,845 77,355
Net book value
At 31 December 2023 3,965 32,989 36,954
At 31 December 2022 4,075 41,043 45,118
5