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No description of principal activity
2023-04-01
Sage Accounts Production Advanced 2023 - FRS102_2023
5,913
4,695
683
5,378
535
1,218
xbrli:pure
xbrli:shares
iso4217:GBP
SC525321
2023-04-01
2024-03-31
SC525321
2024-03-31
SC525321
2023-03-31
SC525321
2022-04-01
2023-03-31
SC525321
2023-03-31
SC525321
2022-03-31
SC525321
bus:OrdinaryShareClass1
2023-04-01
2024-03-31
SC525321
bus:Director1
2023-04-01
2024-03-31
SC525321
core:WithinOneYear
2024-03-31
SC525321
core:WithinOneYear
2023-03-31
SC525321
core:AfterOneYear
2024-03-31
SC525321
core:AfterOneYear
2023-03-31
SC525321
core:ShareCapital
2024-03-31
SC525321
core:ShareCapital
2023-03-31
SC525321
core:RetainedEarningsAccumulatedLosses
2024-03-31
SC525321
core:RetainedEarningsAccumulatedLosses
2023-03-31
SC525321
bus:SmallEntities
2023-04-01
2024-03-31
SC525321
bus:AuditExemptWithAccountantsReport
2023-04-01
2024-03-31
SC525321
bus:SmallCompaniesRegimeForAccounts
2023-04-01
2024-03-31
SC525321
bus:PrivateLimitedCompanyLtd
2023-04-01
2024-03-31
SC525321
bus:FullAccounts
2023-04-01
2024-03-31
SC525321
bus:OrdinaryShareClass1
2024-03-31
SC525321
bus:OrdinaryShareClass1
2023-03-31
SC525321
core:OfficeEquipment
2023-04-01
2024-03-31
SC525321
core:OfficeEquipment
2024-03-31
SC525321
core:OfficeEquipment
2023-03-31
SC525321
core:AllAssociates
2023-04-01
2024-03-31
COMPANY REGISTRATION NUMBER:
SC525321
Filleted Unaudited Financial Statements |
|
Statement of Financial Position |
|
31 March 2024
Fixed assets
Tangible assets |
4 |
|
535 |
1,218 |
|
|
|
|
|
Current assets
Stocks |
5,000 |
|
1,931 |
Debtors |
5 |
181,877 |
|
186,270 |
Cash at bank and in hand |
80,562 |
|
84,800 |
|
--------- |
|
--------- |
|
267,439 |
|
273,001 |
|
|
|
|
|
Creditors: amounts falling due within one year |
6 |
222,886 |
|
174,610 |
|
--------- |
|
--------- |
Net current assets |
|
44,553 |
98,391 |
|
|
-------- |
-------- |
Total assets less current liabilities |
|
45,088 |
99,609 |
|
|
|
|
|
Creditors: amounts falling due after more than one year |
7 |
|
12,500 |
22,500 |
|
|
-------- |
-------- |
Net assets |
|
32,588 |
77,109 |
|
|
-------- |
-------- |
|
|
|
|
|
Capital and reserves
Called up share capital |
8 |
|
100 |
100 |
Profit and loss account |
|
32,488 |
77,009 |
|
|
-------- |
-------- |
Shareholders funds |
|
32,588 |
77,109 |
|
|
-------- |
-------- |
|
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
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 Act with respect to accounting records and the preparation of financial statements
.
Statement of Financial Position (continued) |
|
31 March 2024
These financial statements were approved by the
board of directors
and authorised for issue on
4 November 2024
, and are signed on behalf of the board by:
Company registration number:
SC525321
Notes to the Financial Statements |
|
Year ended 31 March 2024
1.
General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 2 Osborne Place, Dundee, DD2 1BD, Scotland.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The directors have assessed that the company has adequate resources to meet the ongoing costs of the business for the foreseeable future. For this reason the financial statements have been prepared on a going concern basis which presumes the realisation of assets and liabilities in the normal course of business.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Corporation tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Equipment |
- |
33% straight line |
|
|
|
|
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4.
Tangible assets
|
Equipment |
|
£ |
Cost |
|
At 1 April 2023 and 31 March 2024 |
5,913 |
|
------- |
Depreciation |
|
At 1 April 2023 |
4,695 |
Charge for the year |
683 |
|
------- |
At 31 March 2024 |
5,378 |
|
------- |
Carrying amount |
|
At 31 March 2024 |
535 |
|
------- |
At 31 March 2023 |
1,218 |
|
------- |
|
|
5.
Debtors
|
2024 |
2023 |
|
£ |
£ |
Trade debtors |
159,600 |
171,479 |
Other debtors |
22,277 |
14,791 |
|
--------- |
--------- |
|
181,877 |
186,270 |
|
--------- |
--------- |
|
|
|
6.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
Bank loans and overdrafts |
10,000 |
10,000 |
Trade creditors |
107,286 |
72,503 |
Corporation tax |
9,405 |
19,471 |
Social security and other taxes |
36,283 |
31,037 |
Other creditors |
59,912 |
41,599 |
|
--------- |
--------- |
|
222,886 |
174,610 |
|
--------- |
--------- |
|
|
|
7.
Creditors:
amounts falling due after more than one year
|
2024 |
2023 |
|
£ |
£ |
Bank loans and overdrafts |
12,500 |
22,500 |
|
-------- |
-------- |
|
|
|
8.
Called up share capital
Issued, called up and fully paid
|
2024 |
2023 |
|
No. |
£ |
No. |
£ |
Ordinary shares of £ 1 each |
100 |
100 |
100 |
100 |
|
---- |
---- |
---- |
---- |
|
|
|
|
|
9.
Transactions with directors
The company was under the control of the directors throughout the current and previous year.
10.
Related party transactions
During the year the company received management services of £115,000 (2023 - £70.000) from ABF Workspace Limited, a company under common control. At the year end the company was due to pay ABF Workspace Limited £32,100 (2023 - £34,787).