2023-06-012024-05-312024-05-31falseSC700040RIGHT OPTIONS PARTNERS 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RIGHT OPTIONS PARTNERS LTD

Registered Number
SC700040
(Scotland)

Unaudited Financial Statements for the Year ended
31 May 2024

RIGHT OPTIONS PARTNERS LTD
Company Information
for the year from 1 June 2023 to 31 May 2024

Directors

BRYSON, Margaret Ann
SUTHERLAND, Chris

Registered Address

6 Crofthead Road
Prestwick
KA9 1HW

Registered Number

SC700040 (Scotland)
RIGHT OPTIONS PARTNERS LTD
Balance Sheet as at
31 May 2024

Notes

2024

2023

£

£

£

£

ASSETS
Fixed assets
Tangible assets36581,044
6581,044
Current assets
Debtors-540
Cash at bank and in hand27,67648,818
27,67649,358
27,67649,358
28,33450,402
CAPITAL, RESERVES AND LIABILITIES
Capital and reserves
Profit and loss account25,93543,436
25,93543,436
Liabilities
Creditors amounts falling due within one year41,9716,966
Accruals and deferred income428-
28,33450,402
The financial statements were approved and authorised for issue by the Board of Directors on 1 October 2024, and are signed on its behalf by:
BRYSON, Margaret Ann
Director
SUTHERLAND, Chris
Director

Registered Company No. SC700040
RIGHT OPTIONS PARTNERS LTD
Notes to the Financial Statements
for the year ended 31 May 2024

1.Accounting policies
Statutory information
The company is a private company limited by guarantee and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Office Equipment3
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2.Average number of employees

20242023
Average number of employees during the year22
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 June 231,158
At 31 May 241,158
Depreciation and impairment
At 01 June 23114
Charge for year386
At 31 May 24500
Net book value
At 31 May 24658
At 31 May 231,044
4.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables26595
Taxation and social security7716,246
Other creditors935625
Total1,9716,966
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.