Silverfin false false 30/09/2024 01/10/2023 30/09/2024 T Harrison 25/01/2024 S Homer 21/01/2022 C Jamieson 19/05/2022 F M McCann 17/09/2018 M E Shiels 22/01/2010 I Turner 19/05/2022 27 June 2025 The principal activity of the company is to provide IT facilities to Scotwest Credit Union and Capital Credit Union. SC371649 2024-09-30 SC371649 bus:Director1 2024-09-30 SC371649 bus:Director2 2024-09-30 SC371649 bus:Director3 2024-09-30 SC371649 bus:Director4 2024-09-30 SC371649 bus:Director5 2024-09-30 SC371649 bus:Director6 2024-09-30 SC371649 core:CurrentFinancialInstruments 2024-09-30 SC371649 core:CurrentFinancialInstruments 2023-09-30 SC371649 2023-09-30 SC371649 core:CapitalContributionReserve 2024-09-30 SC371649 core:CapitalContributionReserve 2023-09-30 SC371649 core:RetainedEarningsAccumulatedLosses 2024-09-30 SC371649 core:RetainedEarningsAccumulatedLosses 2023-09-30 SC371649 core:PatentsTrademarksLicencesConcessionsSimilar 2023-09-30 SC371649 core:PatentsTrademarksLicencesConcessionsSimilar 2024-09-30 SC371649 core:OtherPropertyPlantEquipment 2023-09-30 SC371649 core:OtherPropertyPlantEquipment 2024-09-30 SC371649 2023-10-01 2024-09-30 SC371649 bus:FilletedAccounts 2023-10-01 2024-09-30 SC371649 bus:SmallEntities 2023-10-01 2024-09-30 SC371649 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 SC371649 bus:CompanyLimitedByGuarantee 2023-10-01 2024-09-30 SC371649 bus:Director1 2023-10-01 2024-09-30 SC371649 bus:Director2 2023-10-01 2024-09-30 SC371649 bus:Director3 2023-10-01 2024-09-30 SC371649 bus:Director4 2023-10-01 2024-09-30 SC371649 bus:Director5 2023-10-01 2024-09-30 SC371649 bus:Director6 2023-10-01 2024-09-30 SC371649 core:PatentsTrademarksLicencesConcessionsSimilar core:TopRangeValue 2023-10-01 2024-09-30 SC371649 core:OtherPropertyPlantEquipment core:TopRangeValue 2023-10-01 2024-09-30 SC371649 2022-10-01 2023-09-30 iso4217:GBP xbrli:pure

Company No: SC371649 (Scotland)

CUSSCO LIMITED

(A COMPANY LIMITED BY GUARANTEE)

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH THE REGISTRAR

CUSSCO LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2024

Contents

CUSSCO LIMITED

BALANCE SHEET

AS AT 30 SEPTEMBER 2024
CUSSCO LIMITED

BALANCE SHEET (continued)

AS AT 30 SEPTEMBER 2024
Note 2024 2023
£ £
Current assets
Debtors 5 199,686 134,833
Cash at bank and in hand 6 72,290 120,728
271,976 255,561
Creditors: amounts falling due within one year 7 ( 138,443) ( 151,936)
Net current assets 133,533 103,625
Total assets less current liabilities 133,533 103,625
Net assets 133,533 103,625
Reserves
Capital contribution reserve 677,386 677,386
Profit and loss account ( 543,853 ) ( 573,761 )
Total reserves 133,533 103,625

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 financial statements of Cussco Limited (registered number: SC371649) were approved and authorised for issue by the Board of Directors on 27 June 2025. They were signed on its behalf by:

F M McCann
Director
CUSSCO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2024
CUSSCO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Cussco Limited (the Company) is a private company, limited by guarantee, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 13 Elmbank Street, Glasgow, G2 4PB, United Kingdom.

The financial statements have been prepared under the historical cost convention, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Trademarks, patents and licences 5 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Trade and other debtors

Trade and other debtors are initially recognised at fair value less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year 0 0

3. Intangible assets

Trademarks, patents
and licences
Total
£ £
Cost
At 01 October 2023 161,732 161,732
At 30 September 2024 161,732 161,732
Accumulated amortisation
At 01 October 2023 161,732 161,732
At 30 September 2024 161,732 161,732
Net book value
At 30 September 2024 0 0
At 30 September 2023 0 0

4. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 October 2023 689,035 689,035
At 30 September 2024 689,035 689,035
Accumulated depreciation
At 01 October 2023 689,035 689,035
At 30 September 2024 689,035 689,035
Net book value
At 30 September 2024 0 0
At 30 September 2023 0 0

5. Debtors

2024 2023
£ £
Trade debtors 93,612 121,831
Other debtors 106,074 13,002
199,686 134,833

6. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 72,290 120,728

7. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 121,316 129,435
Other taxation and social security 13,427 19,551
Other creditors 3,700 2,950
138,443 151,936

8. Liability of members

The members of the Cussco Limited have undertaken to contribute a sum not exceeding £1 each to meet the liabilities of the Company if it should be wound up.