Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-01-01falseNo description of principal activity32truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. SC601269 2023-01-01 2024-03-31 SC601269 2022-01-01 2022-12-31 SC601269 2024-03-31 SC601269 2022-12-31 SC601269 c:Director1 2023-01-01 2024-03-31 SC601269 c:Director2 2023-01-01 2024-03-31 SC601269 c:Director2 2024-03-31 SC601269 c:Director3 2023-01-01 2024-03-31 SC601269 c:Director3 2024-03-31 SC601269 c:RegisteredOffice 2023-01-01 2024-03-31 SC601269 d:OfficeEquipment 2023-01-01 2024-03-31 SC601269 d:OfficeEquipment 2024-03-31 SC601269 d:OfficeEquipment 2022-12-31 SC601269 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2024-03-31 SC601269 d:CurrentFinancialInstruments 2024-03-31 SC601269 d:CurrentFinancialInstruments 2022-12-31 SC601269 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 SC601269 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 SC601269 d:ShareCapital 2024-03-31 SC601269 d:ShareCapital 2022-12-31 SC601269 d:RetainedEarningsAccumulatedLosses 2024-03-31 SC601269 d:RetainedEarningsAccumulatedLosses 2022-12-31 SC601269 c:OrdinaryShareClass1 2023-01-01 2024-03-31 SC601269 c:OrdinaryShareClass1 2024-03-31 SC601269 c:OrdinaryShareClass1 2022-12-31 SC601269 c:OrdinaryShareClass2 2023-01-01 2024-03-31 SC601269 c:OrdinaryShareClass2 2024-03-31 SC601269 c:OrdinaryShareClass2 2022-12-31 SC601269 c:FRS102 2023-01-01 2024-03-31 SC601269 c:AuditExempt-NoAccountantsReport 2023-01-01 2024-03-31 SC601269 c:FullAccounts 2023-01-01 2024-03-31 SC601269 c:PrivateLimitedCompanyLtd 2023-01-01 2024-03-31 SC601269 6 2023-01-01 2024-03-31 SC601269 e:PoundSterling 2023-01-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC601269










SALTIRE CORPORATION LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

 
SALTIRE CORPORATION LIMITED
 

COMPANY INFORMATION


DIRECTORS
Mr K T Rennie 
Ms M Kurihara (appointed 9 December 2023)
Ms E C Rennie (appointed 9 December 2023)




REGISTERED NUMBER
SC601269



REGISTERED OFFICE
The Old Town House
High Street

Falkland

Cupar

KY15 7BZ




ACCOUNTANTS
EQ Accountants Limited
Chartered Accountants

Pentland House

Saltire Centre

Glenrothes

Fife

KY6 2AH





 
SALTIRE CORPORATION LIMITED
REGISTERED NUMBER: SC601269

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

31 March
31 December
2024
2022
£
£

Fixed assets
  

Tangible assets
 4 
-
1,083

Investments
 5 
594,300
439,990

  
594,300
441,073

Current assets
  

Debtors: amounts falling due within one year
 6 
279,198
148,980

Bank and cash balances
  
138,760
303,170

  
417,958
452,150

Creditors: amounts falling due within one year
 7 
(236,137)
(233,226)

Net current assets
  
 
 
181,821
 
 
218,924

Total assets less current liabilities
  
776,121
659,997

Provisions for liabilities
  

Deferred tax
  
-
(270)

  
 
 
-
 
 
(270)

Net assets
  
776,121
659,727


Capital and reserves
  

Called up share capital 
 8 
200
200

Profit and loss account
  
775,921
659,527

  
776,121
659,727


Page 1

 
SALTIRE CORPORATION LIMITED
REGISTERED NUMBER: SC601269

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mr K T Rennie
Director

Date: 20 November 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
SALTIRE CORPORATION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

1.


General information

Saltire Corporation Limited is a private company, limited by shares, incorporated in Scotland, registration number SC601269. The registered office address is The Old Town House High Street, Falkland, Cupar, KY15 7BZ.
The financial statements are presented in sterling, which is the functional currency of the company, and rounded to the nearest £.
The company extended its year end to 31 March 2024 and consequently, these financial statements cover the 15 month period ended 31 March 2024.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
SALTIRE CORPORATION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
50%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Valuation of investments

All investments are measured at cost less accumulated impairment. 

Page 4

 
SALTIRE CORPORATION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.7

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the period was 3 (2022 - 2).


4.


Tangible fixed assets







Office equipment

£



Cost or valuation


At 1 January 2023
2,231



At 31 March 2024

2,231



Depreciation


At 1 January 2023
1,148


Charge for the period on owned assets
1,083



At 31 March 2024

2,231



Net book value



At 31 March 2024
-



At 31 December 2022
1,083

Page 5

 
SALTIRE CORPORATION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

5.


Fixed asset investments








Other fixed asset investments

£



Cost or valuation


At 1 January 2023
439,990


Additions
333,765


Disposals
(179,455)



At 31 March 2024
594,300





6.


Debtors

31 March
31 December
2024
2022
£
£


Trade debtors
83,815
93,436

Other debtors
195,383
14,351

Prepayments and accrued income
-
41,193

279,198
148,980



7.


Creditors: Amounts falling due within one year

31 March
31 December
2024
2022
£
£

Trade creditors
15,143
3,123

Other taxation and social security
201,124
223,797

Other creditors
16,745
4,355

Accruals and deferred income
3,125
1,951

236,137
233,226


Page 6

 
SALTIRE CORPORATION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

8.


Share capital

31 March
31 December
2024
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) A Ordinary shares of £1.00 each
100
100
100 (2022 - 100) B Ordinary shares of £1.00 each
100
100

200

200



Page 7