Company registration number SC547106 (Scotland)
SSACHS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2021
PAGES FOR FILING WITH REGISTRAR
SSACHS LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
SSACHS LTD
BALANCE SHEET
AS AT
31 OCTOBER 2021
31 October 2021
- 1 -
2021
2020
Notes
£
£
£
£
Current assets
Debtors
4
18,493
9,601
Cash at bank and in hand
1,247
5,921
19,740
15,522
Creditors: amounts falling due within one year
5
(12,779)
(8,949)
Net current assets
6,961
6,573
Creditors: amounts falling due after more than one year
6
(6,647)
(8,663)
Net assets/(liabilities)
314
(2,090)
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
313
(2,091)
Total equity
314
(2,090)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 October 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 31 October 2022
D RICHARDSON
D Richardson
Director
Company Registration No. SC547106
SSACHS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2021
- 2 -
1
Accounting policies
Company information
SSACHS Ltd is a
private
company
limited by shares
incorporated in
Scotland
.
The registered office is
c/o Hardie Caldwell LLP, Citypoint 2, 25 Tyndrum Street, Glasgow, G4 0JY.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
A
true
t the time of approving the financial statements
,
t
he director has a reasonable expectation that the
company
has adequate resources to continue in operational existence for the foreseeable future. Thus
t
he director continues to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover is measured at the fair value of the consideration received or receivable.
Turnover is recognised once the consultancy service has been provided to the customer.
Government grants are measured at the fair value of the asset received or receivable. Grant income received in the year
has been recognised by the company using the accruals method. The grant income is recognised in income on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate.
1.4
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computer equipment
33% on cost
1.5
Cash and cash equivalents
Cash and cash equivalents in the balance sheet comprise cash at bank with a short term of maturity, being twelve months or less, from the opening of the deposit or similar amount.
1.6
Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade debtors and creditors. These are measured at amortised cost and are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.
SSACHS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2021
1
Accounting policies
(Continued)
- 3 -
1.7
Taxation
The tax expense represents the sum of the tax currently payable
.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the
profit and loss account
because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2021
2020
Number
Number
Total
1
1
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 November 2020 and 31 October 2021
1,200
Depreciation and impairment
At 1 November 2020 and 31 October 2021
1,200
Carrying amount
At 31 October 2021
At 31 October 2020
4
Debtors
2021
2020
Amounts falling due within one year:
£
£
Trade debtors
7,959
Other debtors
10,534
9,601
18,493
9,601
SSACHS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2021
- 4 -
5
Creditors: amounts falling due within one year
2021
2020
£
£
Corporation tax
3,423
5,446
Other creditors
9,356
3,503
12,779
8,949
6
Creditors: amounts falling due after more than one year
2021
2020
£
£
Other creditors
6,647
8,663
7
Related party disclosures
At the year end the amount owed to the company by the director was £7,950 (2020 - £7,245).