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No description of principal activity
2023-05-01
Sage Accounts Production Advanced 2023 - FRS102_2023
3,826
3,924
7,750
2,903
1,224
4,127
3,623
923
xbrli:pure
xbrli:shares
iso4217:GBP
SC217758
2023-05-01
2024-04-30
SC217758
2024-04-30
SC217758
2023-04-30
SC217758
2022-05-01
2023-04-30
SC217758
2023-04-30
SC217758
2022-04-30
SC217758
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2023-05-01
2024-04-30
SC217758
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2023-05-01
2024-04-30
SC217758
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2024-04-30
SC217758
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2023-04-30
SC217758
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2024-04-30
SC217758
core:ShareCapital
2023-04-30
SC217758
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2024-04-30
SC217758
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2023-04-30
SC217758
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2023-05-01
2024-04-30
SC217758
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2023-05-01
2024-04-30
SC217758
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2023-05-01
2024-04-30
SC217758
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2023-05-01
2024-04-30
SC217758
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2023-05-01
2024-04-30
SC217758
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2023-05-01
2024-04-30
SC217758
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2023-04-30
SC217758
core:ComputerEquipment
2024-04-30
SC217758
1
2023-05-01
2024-04-30
COMPANY REGISTRATION NUMBER:
SC217758
Filleted Unaudited Financial Statements |
|
Year ended 30 April 2024
Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements |
1 |
|
|
Statement of financial position |
2 |
|
|
Notes to the financial statements |
5 |
|
|
Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of
Circuit Break Limited |
|
Year ended 30 April 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Circuit Break Limited for the year ended 30 April 2024, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at www.icas.com/accountspreparationguidance. This report is made solely to the Board of Directors of Circuit Break Limited, as a body. Our work has been undertaken solely to prepare for your approval the financial statements of Circuit Break Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with the requirements of ICAS as detailed at www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Circuit Break Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Circuit Break Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Circuit Break Limited. You consider that Circuit Break Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Circuit Break Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
GILLILAND & COMPANY
Chartered Accountants
216 West George Street
Glasgow
G2 2PQ
22 July 2024
Statement of Financial Position |
|
30 April 2024
Fixed assets
Tangible assets |
4 |
|
3,623 |
923 |
|
|
|
|
|
Current assets
Debtors |
5 |
8,055 |
|
5,236 |
Cash at bank and in hand |
7,892 |
|
16,231 |
|
-------- |
|
-------- |
|
15,947 |
|
21,467 |
|
|
|
|
|
Creditors: amounts falling due within one year |
6 |
17,706 |
|
21,523 |
|
-------- |
|
-------- |
Net current liabilities |
|
1,759 |
56 |
|
|
------- |
---- |
Total assets less current liabilities |
|
1,864 |
867 |
|
|
------- |
---- |
Net assets |
|
1,864 |
867 |
|
|
------- |
---- |
|
|
|
|
|
Capital and reserves
Called up share capital |
|
100 |
100 |
Profit and loss account |
|
1,764 |
767 |
|
|
------- |
---- |
Shareholders funds |
|
1,864 |
867 |
|
|
------- |
---- |
|
|
|
|
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 30 April 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
.
These financial statements were approved by the
board of directors
and authorised for issue on
22 July 2024
, and are signed on behalf of the board by:
Company registration number:
SC217758
Year ended 30 April 2024
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.
Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investment that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Income tax
Provision is made for deferred taxation arising from timing differences other than those which are expected with reasonable probability to continue in the foreseeable future.
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:
|
Computer Equipment |
- |
33% straight line |
|
|
|
|
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Notes to the Financial Statements |
|
Year ended 30 April 2024
1.
General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 216 West George Street, Glasgow, G2 2PQ.
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.
Employee numbers
The average number of persons employed by the company during the year amounted to
2
(2023:
2
).
4.
Tangible assets
|
Equipment |
Total |
|
£ |
£ |
Cost |
|
|
At 1 May 2023 |
3,826 |
3,826 |
Additions |
3,924 |
3,924 |
|
------- |
------- |
At 30 April 2024 |
7,750 |
7,750 |
|
------- |
------- |
Depreciation |
|
|
At 1 May 2023 |
2,903 |
2,903 |
Charge for the year |
1,224 |
1,224 |
|
------- |
------- |
At 30 April 2024 |
4,127 |
4,127 |
|
------- |
------- |
Carrying amount |
|
|
At 30 April 2024 |
3,623 |
3,623 |
|
------- |
------- |
At 30 April 2023 |
923 |
923 |
|
------- |
------- |
|
|
|
5.
Debtors
|
2024 |
2023 |
|
£ |
£ |
Trade debtors |
7,994 |
4,225 |
Other debtors |
61 |
1,011 |
|
------- |
------- |
|
8,055 |
5,236 |
|
------- |
------- |
|
|
|
6.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
Corporation tax |
1,562 |
3,416 |
Social security and other taxes |
1,937 |
– |
Other creditors |
14,207 |
18,107 |
|
-------- |
-------- |
|
17,706 |
21,523 |
|
-------- |
-------- |
|
|
|
7.
Directors' advances, credits and guarantees
As at 30th April 2024, the company owed
Mr G J Brown
and Mrs L A Brown, Directors, £ 13,007
(2023: £17,007).
8.
Controlling party
The company was under the control of Mr
G J Brown
throughout the current and previous year.