Calculus Accountants (Scotland) Ltd

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

Registered number: SC375531

		2023		2022
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		297,443		297,822

			297,443		297,822
CURRENT ASSETS
Debtors	5	120,610		142,861
Cash at bank and in hand		595,487		490,259

		716,097		633,120
Creditors: Amounts Falling Due Within One Year	6	(412,366 )		(364,767 )

NET CURRENT ASSETS (LIABILITIES)			303,731		268,353

TOTAL ASSETS LESS CURRENT LIABILITIES			601,174		566,175

Creditors: Amounts Falling Due After More Than One Year	7		(197,514 )		(219,381 )

NET ASSETS			403,660		346,794

CAPITAL AND RESERVES
Called up share capital	9		125		125
Profit and Loss Account			403,535		346,669

SHAREHOLDERS' FUNDS			403,660		346,794

Page 1

Page 2

Calculus Accountants (Scotland) Ltd

Balance Sheet (continued)

As At 31 March 2023

For the year ending 31 March 2023 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

15/08/2026

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 values are likely to be in 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.

Page 3

Page 4

Calculus Accountants (Scotland) Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2023

3. Average Number of Employees

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

	2023	2022
Office and administration	4	4

	4	4

4. Tangible Assets

	Investment Properties	Computer Equipment	Total
	£	£	£
Cost
As at 1 April 2022	295,295	4,957	300,252

As at 31 March 2023	295,295	4,957	300,252

Depreciation
As at 1 April 2022	-	2,430	2,430
Provided during the period	-	379	379

As at 31 March 2023	-	2,809	2,809

Net Book Value
As at 31 March 2023	295,295	2,148	297,443

As at 1 April 2022	295,295	2,527	297,822

5. Debtors

	2023	2022
	£	£
Due within one year
Trade debtors	15,698	14,951
Prepayments and accrued income	573	-
Other debtors - client investment loan	104,339	127,910

	120,610	142,861

The investment client loan is subject to a Standard 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

	2023	2022
	£	£
Trade creditors	2,309	160
Bank loans and overdrafts	14,467	14,467
Bank loan - Covid19 BBLS	7,400	7,400
Corporation tax	62,155	44,856
VAT	8,837	7,788
Other creditors - sundry loan	12,500	9,200
Advance payments on account of fee's	4,257	2,363

...CONTINUED

Page 4

Page 5

Calculus Accountants (Scotland) Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2023

Other creditors - clients funds	9,363	9,325
Accrued charges	976	142
Director's loan account	290,102	269,066

	412,366	364,767

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

	2023	2022
	£	£
Bank loans	181,481	195,948
Bank loans - Covid19 BBLS	16,033	23,433

	197,514	219,381

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.

	2023		2022
	£		£
Bank loans	109,148		124,219

8. Secured Creditors

Of the creditors the following amounts are secured.

	2023		2022
	£		£
Bank loans and overdrafts	195,948		210,415

9. Share Capital

	2023	2022
	£	£
Allotted, Called up and fully paid	125	125

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.

Page 5