Company No:
Contents
Note | 2024 | 2023 | ||
£ | £ | |||
Current assets | ||||
Debtors | 5 |
|
|
|
Cash at bank and in hand | 6 |
|
|
|
271,976 | 255,561 | |||
Creditors: amounts falling due within one year | 7 | (
|
(
|
|
Net current assets | 133,533 | 103,625 | ||
Total assets less current liabilities | 133,533 | 103,625 | ||
Net assets |
|
|
||
Reserves | ||||
Capital contribution reserve |
|
|
||
Profit and loss account | (
|
(
|
||
Total reserves |
|
|
Directors' responsibilities:
The financial statements of Cussco Limited (registered number:
F M McCann
Director |
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.
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 £.
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 is recognised when the significant risks and rewards are considered to have been transferred to the customer.
Trademarks, patents and licences |
|
Plant and machinery etc. |
|
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.
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.
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.
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year |
|
|
Trademarks, patents and licences |
Total | ||
£ | £ | ||
Cost | |||
At 01 October 2023 |
|
|
|
At 30 September 2024 |
|
|
|
Accumulated amortisation | |||
At 01 October 2023 |
|
|
|
At 30 September 2024 |
|
|
|
Net book value | |||
At 30 September 2024 |
|
|
|
At 30 September 2023 |
|
|
Plant and machinery etc. | Total | ||
£ | £ | ||
Cost | |||
At 01 October 2023 |
|
|
|
At 30 September 2024 |
|
|
|
Accumulated depreciation | |||
At 01 October 2023 |
|
|
|
At 30 September 2024 |
|
|
|
Net book value | |||
At 30 September 2024 |
|
|
|
At 30 September 2023 |
|
|
2024 | 2023 | ||
£ | £ | ||
Trade debtors |
|
|
|
Other debtors |
|
|
|
|
|
2024 | 2023 | ||
£ | £ | ||
Cash at bank and in hand |
|
|
2024 | 2023 | ||
£ | £ | ||
Trade creditors |
|
|
|
Other taxation and social security |
|
|
|
Other creditors |
|
|
|
|
|
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.