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REGISTERED NUMBER: SC181845 (Scotland)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

Sumdials Limited

Sumdials Limited (Registered number: SC181845)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Sumdials Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: H P Shannon
E J M Scott



REGISTERED OFFICE: 477 Gorgie Road
Edinburgh
EH11 3AD



REGISTERED NUMBER: SC181845 (Scotland)



ACCOUNTANTS: Jeffrey Crawford & Co
Chartered Accountants
25 Castle Terrace
Edinburgh
EH1 2ER



BANKERS: The Royal Bank of Scotland plc

Sumdials Limited (Registered number: SC181845)

Balance Sheet
31 May 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Debtors 7 - 237
Cash at bank 282 2,109
282 2,346
CREDITORS
Amounts falling due within one year 8 351,720 351,932
NET CURRENT LIABILITIES (351,438 ) (349,586 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(351,438

)

(349,586

)

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (351,538 ) (349,686 )
SHAREHOLDERS' FUNDS (351,438 ) (349,586 )

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 directors acknowledge their 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 February 2025 and were signed on its behalf by:





E J M Scott - Director


Sumdials Limited (Registered number: SC181845)

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

1. STATUTORY INFORMATION

Sumdials Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Going concern
The company was developing and planned to launch a new computer app for educational purposes aimed at children.

In December 2022 the director who was also the majority shareholder, key financier and driving force passed away. At that stage the app was in the latter stages of development and testing before development was suspended due to the circumstances.

The executors and directors are considering the options and have not indicated that the directors loan account or trade creditors will be called up. Their current intention is to cease any further developments and make the company dormant while they consider the options for the beneficiaries and shareholders. The accounts have been prepared on a going concern basis pending a final decision.

If the decision were to be made to cease trading then assets and liabilities would require the values to be revised to realisable values which in this case would be similar to the current written down values.

Significant judgements and estimates
Preparing the financial statements may require the directors to make significant judgements and estimates. There were no items in the financial statements where these judgements and estimates were required.

Turnover
The company recognises revenue when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the entity

Intangible assets
Intangible assets consist of the costs of software development which have been capitalised and are being written off over the estimated useful economic life of 4 years. Intangible assets have been fully written down at the balance sheet date.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 33% on reducing balance

Impairment of tangible fixed assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the Income Statement.

Sumdials Limited (Registered number: SC181845)

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

3. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, directors loan and bank loan.

Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

4. EMPLOYEES AND DIRECTORS

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

5. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 June 2023
and 31 May 2024 104,142
AMORTISATION
At 1 June 2023
and 31 May 2024 104,142
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 -

Sumdials Limited (Registered number: SC181845)

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

6. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023 12,613
Disposals (12,613 )
At 31 May 2024 -
DEPRECIATION
At 1 June 2023 12,613
Eliminated on disposal (12,613 )
At 31 May 2024 -
NET BOOK VALUE
At 31 May 2024 -

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors - 237

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 26,300 26,300
Other creditors 325,420 325,632
351,720 351,932

Included within other creditors is an amount due to the estate of an ex director amounting to £321,584 (2023: £324,582). The loan is interest free and repayable on demand.