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REGISTERED NUMBER: SC735786 (Scotland)












Financial Statements for the Year Ended 31 May 2024

for

COST SOLUTIONS LTD

COST SOLUTIONS LTD (REGISTERED NUMBER: SC735786)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


COST SOLUTIONS LTD

Company Information
for the Year Ended 31 May 2024







DIRECTOR: L A Rebecca





REGISTERED OFFICE: 24 Duthie Road
Tarves
Ellon
Aberdeenshire
AB41 7JX





REGISTERED NUMBER: SC735786 (Scotland)





ACCOUNTANTS: Account Tax Ltd
Chartered Certified Accountants
12 Traill Drive
Montrose
Angus
DD10 8SW

COST SOLUTIONS LTD (REGISTERED NUMBER: SC735786)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 424 565

CURRENT ASSETS
Debtors 5 10,700 32,000
Cash at bank 25,494 5,428
36,194 37,428
CREDITORS
Amounts falling due within one year 6 13,154 18,377
NET CURRENT ASSETS 23,040 19,051
TOTAL ASSETS LESS CURRENT
LIABILITIES

23,464

19,616

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 23,463 19,615
SHAREHOLDERS' FUNDS 23,464 19,616

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

COST SOLUTIONS LTD (REGISTERED NUMBER: SC735786)

Balance Sheet - continued
31 May 2024


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 & Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 November 2024 and were signed by:





L A Rebecca - Director


COST SOLUTIONS LTD (REGISTERED NUMBER: SC735786)

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

1. STATUTORY INFORMATION

Cost Solutions Ltd 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.

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 historical cost convention.

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.
Computer equipment - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & 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 tax
Deferred tax is recognised in respect of all material 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 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

COST SOLUTIONS LTD (REGISTERED NUMBER: SC735786)

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

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 June 2023
and 31 May 2024 730
DEPRECIATION
At 1 June 2023 165
Charge for year 141
At 31 May 2024 306
NET BOOK VALUE
At 31 May 2024 424
At 31 May 2023 565

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 10,560 12,000
Other debtors 140 20,000
10,700 32,000

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 12,429 17,577
Other creditors 725 800
13,154 18,377

7. RELATED PARTY DISCLOSURES

During the year, total dividends of £37,150 (2023 - £38,000) were paid to the director .

The company was under control of the director throughout the current and previous year.

During the year the director repaid the company net amounts totalling £19,860 As at 31 May 2024 included within other debtors is a balance outstanding due to the company of £140 (2023 - £20,000). Interest has been charged on this loan at rates as prescribed by HMRC.