REGISTERED NUMBER: SC729159 (Scotland)

Circular Enterprises Limited

Financial Statements

for the Year Ended 31 March 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs N R Johnson

D J Bryan

M J Morgan

SECRETARY:

M F B Cook

REGISTERED OFFICE:

Stirling Business Centre

Wellgreen Place

Stirling

FK8 2DZ

REGISTERED NUMBER:

SC729159 (Scotland)

SENIOR STATUTORY AUDITOR:

Kevin Cattanach

AUDITORS:

Whitelaw Wells

Statutory Auditor

9 Ainslie Place

Edinburgh

Midlothian

EH3 6AT

CURRENT ASSETS

Debtors

4

13,342

7,846

Cash at bank

13,338

15,066

26,680

22,912

CREDITORS

Amounts falling due within one year

5

16,085

17,040

NET CURRENT ASSETS

10,595

5,872

TOTAL ASSETS LESS CURRENT LIABILITIES

10,595

5,872

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

6

10,594

5,871

SHAREHOLDERS' FUNDS

10,595

5,872

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 October 2025 and were signed on its behalf by:

Mrs N R Johnson - Director

1.	STATUTORY INFORMATION

Circular Enterprises Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on the going concern principle, which assumes that the company will continue to trade in the foreseeable future.The directors have prepared projections that demonstrate continuing profits for the year ending 31 March 2026, with a similar trend expected for the year ended 31 March 2027.

The functional and presentational currency of the financial statements is the pound sterling (£) and the amounts are rounded to the nearest £.

Turnover

Turnover represents Consortium and consultancy income which is recognised in the period in which the services were provided.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is not recognised in the financial statements. The company gifts all taxable profits to its parent charity and therefore does not incur any liability to tax.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value except unlisted investments which continue to be measured at transaction value.

Judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

13,342

7,846

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

1,883

48

Amounts owed to group undertakings

6,921

15,942

Taxation and social security

3,831

-

Other creditors

3,450

1,050

16,085

17,040

6.

RESERVES

Retained

earnings

£

At 1 April 2024

5,871

Profit for the year

10,594

Charitable Donation

(5,871

)

At 31 March 2025

10,594

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Kevin Cattanach (Senior Statutory Auditor)

for and on behalf of Whitelaw Wells

8.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

9.	ULTIMATE CONTROLLING PARTY

The company is a 100% subsidiary undertaking of Circular Communities Scotland, whose principal place of business is Stirling Business Centre, Wellgreen, Stirling, FK8 2DZ.