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COMPANY REGISTRATION NUMBER: SC187659
Continuum Business Improvement Limited
Filleted Unaudited Financial Statements
31 July 2024
Continuum Business Improvement Limited
Statement of Financial Position
31 July 2024
2024
2023
Note
£
£
£
Current assets
Debtors
5
30,686
Cash at bank and in hand
58,338
68,812
--------
--------
58,338
99,498
Creditors: amounts falling due within one year
6
55,361
78,252
--------
--------
Net current assets
2,977
21,246
-------
--------
Total assets less current liabilities
2,977
21,246
-------
--------
Capital and reserves
Called up share capital
2
2
Profit and loss account
2,975
21,244
-------
--------
Shareholders funds
2,977
21,246
-------
--------
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 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his 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 27 January 2025 , and are signed on behalf of the board by:
A J Keely
Director
Company registration number: SC187659
Continuum Business Improvement Limited
Notes to the Financial Statements
Year ended 31 July 2024
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is White Wisp House, 12 Back Road, Dollar, Clackmannanshire, FK14 7EA.
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.
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.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more, tax, except deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Debtors
2024
2023
£
£
Trade debtors
29,280
Other debtors
1,406
----
--------
30,686
----
--------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
11,977
27,352
Social security and other taxes
5,194
Other creditors
38,190
50,900
--------
--------
55,361
78,252
--------
--------