19 19 Cathcart Associates Ltd SC366569 false 2023-10-01 2024-09-30 2024-09-30 The principal activity of the company is recruitment consultants. Digita Accounts Production Advanced 6.30.9574.0 true SC366569 2023-10-01 2024-09-30 SC366569 2024-09-30 SC366569 core:RetainedEarningsAccumulatedLosses 2024-09-30 SC366569 core:ShareCapital 2024-09-30 SC366569 core:SharePremium 2024-09-30 SC366569 core:CurrentFinancialInstruments 2024-09-30 SC366569 core:CurrentFinancialInstruments core:WithinOneYear 2024-09-30 SC366569 core:FurnitureFittings 2024-09-30 SC366569 core:LandBuildings core:ShortLeaseholdAssets 2024-09-30 SC366569 core:OfficeEquipment 2024-09-30 SC366569 core:PlantMachinery 2024-09-30 SC366569 bus:SmallEntities 2023-10-01 2024-09-30 SC366569 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 SC366569 bus:FilletedAccounts 2023-10-01 2024-09-30 SC366569 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 SC366569 bus:RegisteredOffice 2023-10-01 2024-09-30 SC366569 bus:Director3 2023-10-01 2024-09-30 SC366569 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 SC366569 core:ComputerEquipment 2023-10-01 2024-09-30 SC366569 core:FurnitureFittings 2023-10-01 2024-09-30 SC366569 core:FurnitureFittingsToolsEquipment 2023-10-01 2024-09-30 SC366569 core:LandBuildings core:ShortLeaseholdAssets 2023-10-01 2024-09-30 SC366569 core:LeaseholdImprovements 2023-10-01 2024-09-30 SC366569 core:OfficeEquipment 2023-10-01 2024-09-30 SC366569 core:PlantMachinery 2023-10-01 2024-09-30 SC366569 countries:Scotland 2023-10-01 2024-09-30 SC366569 2023-09-30 SC366569 core:FurnitureFittings 2023-09-30 SC366569 core:LandBuildings core:ShortLeaseholdAssets 2023-09-30 SC366569 core:OfficeEquipment 2023-09-30 SC366569 core:PlantMachinery 2023-09-30 SC366569 2022-10-01 2023-09-30 SC366569 2023-09-30 SC366569 core:RetainedEarningsAccumulatedLosses 2023-09-30 SC366569 core:ShareCapital 2023-09-30 SC366569 core:SharePremium 2023-09-30 SC366569 core:CurrentFinancialInstruments 2023-09-30 SC366569 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 SC366569 core:FurnitureFittings 2023-09-30 SC366569 core:LandBuildings core:ShortLeaseholdAssets 2023-09-30 SC366569 core:OfficeEquipment 2023-09-30 SC366569 core:PlantMachinery 2023-09-30 xbrli:pure iso4217:GBP

Registration number: SC366569

Cathcart Associates Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

Cathcart Associates Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

Cathcart Associates Ltd

(Registration number: SC366569)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

21,364

28,901

Current assets

 

Debtors

5

999,968

1,008,319

Cash at bank and in hand

 

435,199

584,269

 

1,435,167

1,592,588

Creditors: Amounts falling due within one year

6

(637,359)

(653,746)

Net current assets

 

797,808

938,842

Total assets less current liabilities

 

819,172

967,743

Provisions for liabilities

(5,341)

(7,225)

Net assets

 

813,831

960,518

Capital and reserves

 

Called up share capital

22

22

Share premium reserve

10,000

10,000

Retained earnings

803,809

950,496

Shareholders' funds

 

813,831

960,518

For the financial year ending 30 September 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 23 April 2025 and signed on its behalf by:
 

.........................................
Samuel Cathcart Wason
Director

 

Cathcart Associates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
Ardmore House
40 George Street
Edinburgh
EH2 2LE

These financial statements were authorised for issue by the Board on 23 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

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

 

Cathcart Associates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

The current income 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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures,fittings and equipment

20% straight line

Computer equipment

33.33% straight line

Plant and machinery

20% reducing balance

Leasehold improvements

20% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Cathcart Associates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 19 (2023 - 19).

 

Cathcart Associates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4

Tangible assets

Short leasehold land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 October 2023

39,713

50,761

5,675

55,408

151,557

Additions

-

-

-

92

92

At 30 September 2024

39,713

50,761

5,675

55,500

151,649

Depreciation

At 1 October 2023

39,713

26,507

5,335

51,101

122,656

Charge for the year

-

5,252

68

2,309

7,629

At 30 September 2024

39,713

31,759

5,403

53,410

130,285

Carrying amount

At 30 September 2024

-

19,002

272

2,090

21,364

At 30 September 2023

-

24,254

340

4,307

28,901

Included within the net book value of land and buildings above is £Nil (2023 - £Nil) in respect of short leasehold land and buildings.
 

 

Cathcart Associates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

5

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

733,230

788,851

Amounts owed by related parties

7

90,370

90,460

Prepayments

 

52,135

32,117

Other debtors

 

124,233

96,891

   

999,968

1,008,319

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

539,118

538,730

Taxation and social security

94,279

111,422

Other creditors

3,962

3,594

637,359

653,746

7

Related party transactions

Included in other debtors is an amount of £70,000 (2023 - £70,000) due from Sam Wason, a director of the company. The loan is interest free.

At 30 September 2024 the company was owed £900 (2023 - £900) from Cathcart Technology Holdings Limited and £89,560 (2023 - £89,560) from Cathcart Associates Group Ltd. Both companies are controlled by the same people.

During the year the total compensation paid to key management personnel was £206,193 (2023 - £204,725).

The immediate and ultimate parent undertaking is Cathcart Technology Holdings Limited with its registered office address at Ardmore House, 40 George Street, Edinburgh, EH2 2LE.

The ultimate controlling parties are the company directors.