Culzean Consulting Ltd - Filleted accounts

Registered number

SC405735

Culzean Consulting Ltd

Filleted Accounts

31 August 2017

Culzean Consulting Ltd
Registered number:		SC405735
Balance Sheet
as at 31 August 2017

Notes			2017			2016
£				£
Fixed assets
Tangible assets	2		21,043			28,058

Current assets
Debtors	3	710			-
Cash at bank and in hand		64,108			79,619
		64,818			79,619

Creditors: amounts falling due within one year	4	(25,904)			(38,510)

Net current assets			38,914			41,109

Net assets			59,957			69,167

Capital and reserves
Called up share capital			10			10
Profit and loss account			59,947			69,157

Shareholders' funds			59,957			69,167

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Mr G Kennedy
Director
Approved by the board on 26 September 2017

Culzean Consulting Ltd
Notes to the Accounts
for the year ended 31 August 2017


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Motor vehicles			over 5 years
	Fixtures and fittings			over 4 years
	Land and buildings			over 4 years

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.


2	Tangible fixed assets
		Land and buildings		Fixtures and fittings		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 September 2016	8,180		894		26,934		36,008
	At 31 August 2017	8,180		894		26,934		36,008

	Depreciation
	At 1 September 2016	2,045		518		5,387		7,950
	Charge for the year	1,534		94		5,387		7,015
	At 31 August 2017	3,579		612		10,774		14,965

	Net book value
	At 31 August 2017	4,601		282		16,160		21,043
	At 31 August 2016	6,135		376		21,547		28,058


3	Debtors					2017		2016
£							£

	Other debtors					710		-


4	Creditors: amounts falling due within one year					2017		2016
£							£

	Corporation tax					18,160		24,621
	Other taxes and social security costs					5,991		12,196
	Accruals					1,753		1,693
						25,904		38,510


5	Other information

	Culzean Consulting Ltd is a private company limited by shares and incorporated in Scotland. Its registered office is:
	Office 8
	Hardengreen Business Park
	Eskbank
	EH22 3NX