Company registration number SC472175 (Scotland)
LANGUAGE BASE (PERTH) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
LANGUAGE BASE (PERTH) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
LANGUAGE BASE (PERTH) LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
3
1,097
Cash at bank and in hand
288
5,023
288
6,120
Creditors: amounts falling due within one year
4
(5,821)
Net current assets
288
299
Capital and reserves
Called up share capital
5
1
1
Profit and loss reserves
287
298
Total equity
288
299
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 23 October 2024 and are signed on its behalf by:
Robert Macduff-Duncan
Director
Company registration number SC472175 (Scotland)
LANGUAGE BASE (PERTH) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information
Language Base (Perth) Limited is a private company limited by shares incorporated in Scotland. The registered office is The Gateway, North Methven Street, Perth, PH1 5PP.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Going concern
At the 31st March 2024 the company had a net asset surplus of £288. 2023: (£299). true
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.4
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.6
Taxation
The tax expense represents the sum of the tax currently payable.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
LANGUAGE BASE (PERTH) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
3
3
3
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1,061
Other debtors
36
1,097
4
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
13
Other creditors
5,808
5,821
5
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary share of £1 each
1
1
1
1
6
Related party transactions
Transactions involving Perth & Kinross Association of Voluntary Service Limited
During the year Language Base (Perth) Limited invoiced PKAVS £477 (2023 - £237) in respect of translation/interpreting services and at the year end the balance is Nil (2023 - £80).
During the year PKAVS invoiced Language Base (Perth) Limited £488 (2023 -£3,673) in respect administration services and at the year end Nil (2023 - £5,411) is outstanding and included in Creditors.
7
Parent company
The ultimate controlling party is Perth & Kinross Association of Voluntary Service Limited (PKAVS).