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COMPANY REGISTRATION NUMBER: SC650966
CPS Services Edinburgh Ltd
Filleted Unaudited Financial Statements
31 July 2024
CPS Services Edinburgh Ltd
Financial Statements
Year ended 31 July 2024
Contents
Pages
Officers and professional advisers
1
Statement of financial position
2 to 3
Notes to the financial statements
4 to 6
CPS Services Edinburgh Ltd
Officers and Professional Advisers
The board of directors
C Shimmins
C Sinclair
J Connolly
A Osprey
M Oswald
Registered office
42 Queen Street
Edinburgh
EH2 3NH
Accountants
Gibson McKerrell Burrows Limited
Chartered Accountants
28 Rutland Square
Edinburgh
EH1 2BW
CPS Services Edinburgh Ltd
Statement of Financial Position
31 July 2024
2024
2023
Note
£
£
£
Current assets
Debtors
5
620
620
Cash at bank and in hand
26,558
46,412
---------
---------
27,178
47,032
Creditors: amounts falling due within one year
6
1,489
12,234
---------
---------
Net current assets
25,689
34,798
---------
---------
Total assets less current liabilities
25,689
34,798
Provisions
Taxation including deferred tax
( 2,738)
---------
---------
Net assets
28,427
34,798
---------
---------
CPS Services Edinburgh Ltd
Statement of Financial Position (continued)
31 July 2024
2024
2023
Note
£
£
£
Capital and reserves
Called up share capital
2
2
Profit and loss account
28,425
34,796
---------
---------
Shareholders funds
28,427
34,798
---------
---------
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.
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 12 December 2024 , and are signed on behalf of the board by:
M Oswald
Director
Company registration number: SC650966
CPS Services Edinburgh Ltd
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 42 Queen Street, Edinburgh, EH2 3NH.
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.
Going concern
When preparing financial statements, the directors shall make an assessment of the entity's ability to continue as a going concern. After making enquiries, the directors consider that the company has adequate resources to meets its liabilities as they fall due for the foreseeable future. Accordingly they continue to adopt the going concern basis in preparing the accounts.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Debtors
2024
2023
£
£
Other debtors
620
620
----
----
6. Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
1,489
12,234
-------
---------
7. Related party transactions
The company is a 100% subdiary of Community Pharmacy Scotland Limited. During the year paid £5,000 in rent to SPGC Property Company Limited, a fellow subsidiary company of Community Pharmacy Scotland..
8. Controlling party
The ultimate parent company is Community Pharmacy Scotland , 42 Queen Street, Edinburgh, EH2 3NH who owns 100% of the authorised share capital of this company.