Acorah Software Products - Accounts Production 16.2.850 false true 31 August 2023 1 September 2022 false 1 September 2023 31 August 2024 31 August 2024 SC689126 Mr Nikita Perezilo true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC689126 2023-08-31 SC689126 2024-08-31 SC689126 2023-09-01 2024-08-31 SC689126 frs-core:CurrentFinancialInstruments 2024-08-31 SC689126 frs-core:ShareCapital 2024-08-31 SC689126 frs-core:RetainedEarningsAccumulatedLosses 2024-08-31 SC689126 frs-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 SC689126 frs-bus:FilletedAccounts 2023-09-01 2024-08-31 SC689126 frs-bus:SmallEntities 2023-09-01 2024-08-31 SC689126 frs-bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 SC689126 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 SC689126 1 2023-09-01 2024-08-31 SC689126 frs-bus:Director1 2023-09-01 2024-08-31 SC689126 frs-countries:Scotland 2023-09-01 2024-08-31 SC689126 2022-08-31 SC689126 2023-08-31 SC689126 2022-09-01 2023-08-31 SC689126 frs-core:CurrentFinancialInstruments 2023-08-31 SC689126 frs-core:ShareCapital 2023-08-31 SC689126 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31
Registered number: SC689126
Transatlantic Sterling Limited
Unaudited Financial Statements
For The Year Ended 31 August 2024
Rosslyn Associates Ltd
Chartered Tax Advisers & Accountants
The Walled Garden
South Building
Bush Estate
Midlothian
EH26 0SD
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: SC689126
2024 2023
Notes £ £ £ £
CURRENT ASSETS
Stocks 4 106,787 82,565
Debtors 5 10,849 22,742
Cash at bank and in hand 167,086 22,078
284,722 127,385
Creditors: Amounts Falling Due Within One Year 6 (170,246 ) (38,425 )
NET CURRENT ASSETS (LIABILITIES) 114,476 88,960
TOTAL ASSETS LESS CURRENT LIABILITIES 114,476 88,960
NET ASSETS 114,476 88,960
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 114,376 88,860
SHAREHOLDERS' FUNDS 114,476 88,960
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Nikita Perezilo
Director
30/05/2025
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Transatlantic Sterling Limited is a private company, limited by shares, incorporated in Scotland, registered number SC689126 . The registered office is Summit House 4-5 Mitchell Street, Edinburgh, EH6 7BD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.5. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, 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 taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
2.6. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Stocks
2024 2023
£ £
Materials 106,787 82,565
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 10,049
Other debtors 10,849 12,693
10,849 22,742
Page 2
Page 3
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts - 419
Other creditors 162,322 13,986
Taxation and social security 7,924 24,020
170,246 38,425
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
8. Related Party Transactions
The directors are of the opinion that all related party transactions are conducted under normal market conditions and on an arm's length basis and therefore do not need to be disclosed under FRS 102 section 1A appendix C.
9. Ultimate Controlling Party
The company's ultimate controlling party is Nikita Perezilo by virtue of his 100% ownership of the issued share capital in Assets Pact Ltd, which has 100% ownership of the issued share capital in Transatlantic Sterling Limited.
Page 3