Calculus Accountants (Scotland) Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

Registered number: SC375531

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		297,406		297,443
Investments	5		50		-

			297,456		297,443
CURRENT ASSETS
Debtors	6	102,914		120,610
Cash at bank and in hand		655,418		595,487

		758,332		716,097
Creditors: Amounts Falling Due Within One Year	7	(408,437 )		(412,366 )

NET CURRENT ASSETS (LIABILITIES)			349,895		303,731

TOTAL ASSETS LESS CURRENT LIABILITIES			647,351		601,174

Creditors: Amounts Falling Due After More Than One Year	8		(175,648 )		(197,514 )

NET ASSETS			471,703		403,660

CAPITAL AND RESERVES
Called up share capital	10		125		125
Profit and Loss Account			471,578		403,535

SHAREHOLDERS' FUNDS			471,703		403,660

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Calculus Accountants (Scotland) Ltd

Balance Sheet (continued)

As At 31 March 2024

For the year ending 31 March 2024 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

16/08/2026

The notes on pages 3 to 6 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. 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.

3. Average Number of Employees

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

	2024	2023
Office and administration	5	4

	5	4

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Calculus Accountants (Scotland) Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2024

4. Tangible Assets

	Investment Properties	Computer Equipment	Total
	£	£	£
Cost
As at 1 April 2023	295,295	4,957	300,252
Additions	-	312	312

As at 31 March 2024	295,295	5,269	300,564

Depreciation
As at 1 April 2023	-	2,809	2,809
Provided during the period	-	349	349

As at 31 March 2024	-	3,158	3,158

Net Book Value
As at 31 March 2024	295,295	2,111	297,406

As at 1 April 2023	295,295	2,148	297,443

5. Investments

	Joint Ventures
	£
Cost or Valuation
As at 1 April 2023	-
Additions	50

As at 31 March 2024	50

Provision
As at 1 April 2023	-

As at 31 March 2024	-

Net Book Value
As at 31 March 2024	50

As at 1 April 2023	-

The company holds 50 £1 Ordinary Shares in a company incorporated by a client for the specific purposes of carrying out a commercial development as a long term investment, which company and development have however still to commence. Any income generated in the future will be by way of dividend income from that company.

6. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	23,599	15,698
Prepayments and accrued income	111	573
Other debtors - client investment loan	79,204	104,339

	102,914	120,610

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.

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Calculus Accountants (Scotland) Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2024

7. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	199	2,309
Bank loans and overdrafts	14,467	14,467
Bank loan - Covid19 BBLS	7,400	7,400
Corporation tax	88,413	62,155
VAT	10,160	8,837
Other creditors - sundry loan	10,963	12,500
Advance payments on account of fee's	2,280	4,257
Other creditors - clients funds	5,574	9,363
Accrued charges	2,099	976
Director's loan account	266,882	290,102

	408,437	412,366

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.

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

	2024	2023
	£	£
Bank loans	167,015	181,481
Bank loans - Covid19 BBLS	8,633	16,033

	175,648	197,514

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.

	2024		2023
	£		£
Bank loans	94,681		109,148

9. Secured Creditors

Of the creditors the following amounts are secured.

	2024		2023
	£		£
Bank loans and overdrafts	181,481		195,948

10. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	125	125

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Calculus Accountants (Scotland) Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2024

11. 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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