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REGISTERED NUMBER: SC264375 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Certum Limited

Certum Limited (Registered number: SC264375)






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




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


Certum Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr F De La Torre
Mr D Wilson





REGISTERED OFFICE: The Brickhouse
24 Stonelaw Road
Rutherglen
Glasgow
G73 3TW





REGISTERED NUMBER: SC264375 (Scotland)





ACCOUNTANTS: Greg Hannah Ltd
Chartered Accountants
26 Victoria Street
Rutherglen
Glasgow
G73 1DS

Certum Limited (Registered number: SC264375)

Abridged Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 127,570 162,763

CURRENT ASSETS
Debtors 757,595 835,866
Cash at bank and in hand 940,249 571,772
1,697,844 1,407,638
CREDITORS
Amounts falling due within one year 850,837 635,954
NET CURRENT ASSETS 847,007 771,684
TOTAL ASSETS LESS CURRENT
LIABILITIES

974,577

934,447

CREDITORS
Amounts falling due after more than one
year

(180,556

)

(253,971

)

PROVISIONS FOR LIABILITIES (29,474 ) (29,772 )
NET ASSETS 764,547 650,704

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 764,545 650,702
764,547 650,704

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.

Certum Limited (Registered number: SC264375)

Abridged Statement of Financial Position - 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Statement of Financial Position for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 21 October 2024 and were signed on its behalf by:




Mr F De La Torre - Director



Mr D Wilson - Director


Certum Limited (Registered number: SC264375)

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

1. STATUTORY INFORMATION

Certum 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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. There were no material departures from that standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is derived from information technology services provided by the company.

Turnover is measured at the fair value of the services supplied, net of discounts and excluding value added tax, and is recognised at the point that the company obtains the right to consideration.

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.
Plant and machinery etc - 25% on reducing balance

Tangible fixed assets held for the companies own use are stated at cost less accumulated depreciation and accumulated impairment loss.

At each balance sheet date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Expenditure of £500 or more on individual tangible fixed assets is capitalised at cost. Expenditure on assets below this threshold is charged directly to the profit and loss account in the period it is incurred.

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 statement of financial position date.


Certum Limited (Registered number: SC264375)

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

3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 have been enacted or substantively enacted by the year end 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 probable 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 and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the income statement on a straight line basis.

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.

Going concern
The directors believe the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the financial statements.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 40 (2023 - 41 ) .

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023 400,576
Additions 5,000
At 31 March 2024 405,576
DEPRECIATION
At 1 April 2023 237,813
Charge for year 40,193
At 31 March 2024 278,006
NET BOOK VALUE
At 31 March 2024 127,570
At 31 March 2023 162,763

Certum Limited (Registered number: SC264375)

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

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 April 2023 181,374
Transfer to ownership (14,384 )
At 31 March 2024 166,990
DEPRECIATION
At 1 April 2023 60,545
Charge for year 30,208
Transfer to ownership (11,824 )
At 31 March 2024 78,929
NET BOOK VALUE
At 31 March 2024 88,061
At 31 March 2023 120,829

6. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 141,667 191,667
Hire purchase contracts 112,305 137,195
253,972 328,862

The Royal Bank of Scotland PLC hold a floating charge which covers all the property or undertaking of the company.

The bounce back loan is supported by a 100% guarantee from the UK Government

Hire purchase contracts are secured over the assets concerned.

7. RELATED PARTY DISCLOSURES

At the 31st March 2024, the company owed Mr F De La Torre (Director) £240 (2023: £240) and Mr D Wilson (Director) £241 (2023: £241). These loans are interest free and have no fixed repayment terms.

Blackpeak Ltd is owned and controlled by Mr F De La Torre and Mr D Wilson. During the year, the company paid rent, service charges and electricity to Blackpeak Ltd of £82,464.

During the year a loan of £179,735 owed by Blackpeak Ltd was written off by Certum Ltd.