Calculus Accountants (Scotland) Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: SC375531

		2022		2021
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		297,822		297,410

			297,822		297,410
CURRENT ASSETS
Debtors	5	142,861		9,362
Cash at bank and in hand		490,259		399,813

		633,120		409,175
Creditors: Amounts Falling Due Within One Year	6	(364,767 )		(178,118 )

NET CURRENT ASSETS (LIABILITIES)			268,353		231,057

TOTAL ASSETS LESS CURRENT LIABILITIES			566,175		528,467

Creditors: Amounts Falling Due After More Than One Year	7		(219,381 )		(241,248 )

NET ASSETS			346,794		287,219

CAPITAL AND RESERVES
Called up share capital	9		125		100
Profit and Loss Account			346,669		287,119

SHAREHOLDERS' FUNDS			346,794		287,219

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Calculus Accountants (Scotland) Ltd

Balance Sheet (continued)

As At 31 March 2022

For the year ending 31 March 2022 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 Perwaiz Akhtar

Director

14/08/2026

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Calculus Accountants (Scotland) Ltd Registered number SC375531 is a limited by shares company incorporated in Scotland. The Registered Office is 10 Avonhead Road, Condorrat, Glasgow, G67 4RA.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention.

2.2. Turnover

Turnover comprises the invoiced fee's value of services supplied by the company, net of Value Added Tax.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Freehold	0%
Computer Equipment	15% - Reducing balance basis

The investment properties are stated at cost and no revaluation is considered necessary, albeit that the anticipated current market value is likely to be excess of values at purchase.

2.4. Investment Properties

Investment properties shall not be subject to periodic charges for depreciation except for properties held on lease, which shall be depreciated at least over the period when the unexpired term is 20 years or less.

Investment properties shall be included in the balance sheet at their cost value.

2.5. Stocks and Work in Progress

Work in progress is valued at the lower of cost and net realisable value and cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

No work-in-progress value is reflected in the accounts as associated costs are not considered material due to the nature of the services provided and such associated costs only being marginal as fees are issued on a time basis or on a fixed fee basis.

2.6. 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.

2.7. Government Grant

Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.

Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.

All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.

2.8. 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.

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Calculus Accountants (Scotland) Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2022

3. Average Number of Employees

Average number of employees, including directors, during the year was:

	2022	2021
Office and administration	4	4

	4	4

4. Tangible Assets

	Investment Properties	Computer Equipment	Total
	£	£	£
Cost
As at 1 April 2021	295,295	4,158	299,453
Additions	-	799	799

As at 31 March 2022	295,295	4,957	300,252

Depreciation
As at 1 April 2021	-	2,043	2,043
Provided during the period	-	387	387

As at 31 March 2022	-	2,430	2,430

Net Book Value
As at 31 March 2022	295,295	2,527	297,822

As at 1 April 2021	295,295	2,115	297,410

5. Debtors

	2022	2021
	£	£
Due within one year
Trade debtors	14,951	7,908
Prepayments and accrued income	-	1,454
Other debtors - client investment loan	127,910	-

	142,861	9,362

The investment client loan is subject to a Stanadrd Security over that clients business premises and is subject to monthly agreed repayments over a 5 year period, with the option however to settle the loan whenever the client may wish to do so, and is chargeable at an agreed fixed interest rate.

6. Creditors: Amounts Falling Due Within One Year

	2022	2021
	£	£
Trade creditors	160	480
Bank loans and overdrafts	14,467	14,467
Bank loan - Covid19 BBLS	7,400	6,167
Corporation tax	44,856	27,700
VAT	7,788	5,558
Other creditors - sundry loan	9,200	6,400
Advance payments on account of fee's	2,363	1,380
Other creditors - clients funds	9,325	12,678

...CONTINUED

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Calculus Accountants (Scotland) Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2022

SMP advance funding	-	2,661
Accrued charges	142	93
Director's loan account	269,066	100,534

	364,767	178,118

The directors loan account is unsecured, interest free and has no fixed terms of repayment.

The investment properties bank loans are over a 10 and 15 year term and subject to Standard Securities over those properties, a bond and floating charge over the company and a directors personal guarantee.

The bank loan under the BBLS was obtained following Covid19 and is accordance with the terms thereof.

7. Creditors: Amounts Falling Due After More Than One Year

	2022	2021
	£	£
Bank loans	195,948	210,415
Bank loans - Covid19 BBLS	23,433	30,833

	219,381	241,248

The investment properties bank loans are over a 10 and 15 year term and are subject to Standard Securities over those properties, a bond and floating charge over the company and a directors personal guarantee.

The bank loan under the BBLS was obtained following Covid19 and is accordance with the terms thereof.

Of the creditors falling due after more than one year the following amounts are due after more than five years.

	2022		2021
	£		£
Bank loans	124,219		138,081

8. Secured Creditors

Of the creditors the following amounts are secured.

	2022		2021
	£		£
Bank loans and overdrafts	210,415		224,821

9. Share Capital

	2022	2021
	£	£
Allotted, Called up and fully paid	125	100

10. Ultimate Controlling Party

The company's ultimate controlling party is the director by virtue of his ownership of 64% of the issued share capital in the company.

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