Business Continuity Services Limited - Accounts to registrar (filleted) - small 18.2

Business Continuity Services Limited - Accounts to registrar (filleted) - small 18.2

BUSINESS CONTINUITY SERVICES LIMITED - Company Information

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REGISTERED NUMBER: SC150072















BUSINESS CONTINUITY SERVICES LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2020





Martin Aitken & Co Ltd
Chartered Accountants
Caledonia House
89 Seaward Street
Glasgow
G41 1HJ








BUSINESS CONTINUITY SERVICES LIMITED (REGISTERED NUMBER: SC150072)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020




Page

Balance Sheet 1

Notes to the Financial Statements 3


BUSINESS CONTINUITY SERVICES LIMITED (REGISTERED NUMBER: SC150072)

BALANCE SHEET
31 MARCH 2020

2020 2019
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 79,582 72,113
79,582 72,113

CURRENT ASSETS
Stocks 9,600 42,333
Debtors 6 374,432 266,741
Cash at bank and in hand 757,933 628,499
1,141,965 937,573
CREDITORS
Amounts falling due within one year 7 449,520 398,864
NET CURRENT ASSETS 692,445 538,709
TOTAL ASSETS LESS CURRENT
LIABILITIES
772,027
610,822

PROVISIONS FOR LIABILITIES 3,947 4,612
NET ASSETS 768,080 606,210

CAPITAL AND RESERVES
Called up share capital 12,600 12,600
Retained earnings 755,480 593,610
SHAREHOLDERS' FUNDS 768,080 606,210

The notes form part of these financial statements

Page 1 continued...
BUSINESS CONTINUITY SERVICES LIMITED (REGISTERED NUMBER: SC150072)

BALANCE SHEET - continued
31 MARCH 2020


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 November 2020 and were signed on its behalf by:





W Wilson - Director


The notes form part of these financial statements

Page 2
BUSINESS CONTINUITY SERVICES LIMITED (REGISTERED NUMBER: SC150072)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020

1. STATUTORY INFORMATION

Business Continuity Services Limited is a private company, limited by shares, registered in Scotland. The company's registered office is 14 Alloway Place, Ayr, KA7 2AA.

The presentation currency of the financial statements is Sterling (£).

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

There were no material departures from that standard.

Judgements
The company considers on an annual basis the judgements that are made by management when applying its significant accounting policies that would have the most significant effect on amounts that are recognised in the financial statements. The directors consider there are no such significant judgements.

Turnover
Turnover represents net invoiced sales of services, excluding value added tax. The company's policy is to recognise a sale when substantively all the risks and rewards in connection with the services have been passed to the buyer.

Intangible fixed assets
Research expenditure is written off to the profit and loss account in the year in which it is incurred. Development expenditure is written off in the same year unless the directors are satisfied as to the technical, commercial and financial viability of individual projects. In this situation, the expenditure is deferred and amortised over the period from which the company is expected to benefit.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

Tangible fixed assets are included at cost less accumulated depreciation and impairment losses.

Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount which is the higher of value in use and the fair value less cost to sell, is estimated and compared with the carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit and loss.

Stocks
Work in progress includes all direct expenditure and a relevant proportion of overheads according to the stage of completion.

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BUSINESS CONTINUITY SERVICES LIMITED (REGISTERED NUMBER: SC150072)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2020

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and loans to related parties.

Debt instruments that are payable or receivable within one year, typically trade debtors, trade creditors and loans to related parties, are measured, initially and subsequently, at the undiscounted amount of cash or other consideration expected to be paid or received.

Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for evidence of impairment and if found, an impairment loss is recognised in profit or loss.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.

Taxation
Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

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 all 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 the periods in which the timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

With the exception of changes arising on the initial recognition of a business combination, the tax expense is presented either in profit or loss, other comprehensive income or statement of changes in equity depending on the transaction that resulted in the tax expense.

Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Provisions
Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated. Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

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BUSINESS CONTINUITY SERVICES LIMITED (REGISTERED NUMBER: SC150072)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2020

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2019 - 23 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2019
and 31 March 2020 314,251
AMORTISATION
At 1 April 2019
and 31 March 2020 314,251
NET BOOK VALUE
At 31 March 2020 -
At 31 March 2019 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2019 173,035
Additions 52,436
Disposals (38,070 )
At 31 March 2020 187,401
DEPRECIATION
At 1 April 2019 100,922
Charge for year 16,159
Eliminated on disposal (9,262 )
At 31 March 2020 107,819
NET BOOK VALUE
At 31 March 2020 79,582
At 31 March 2019 72,113

Page 5 continued...
BUSINESS CONTINUITY SERVICES LIMITED (REGISTERED NUMBER: SC150072)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2020

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Trade debtors 358,797 266,741
Other debtors 15,635 -
374,432 266,741

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Trade creditors 1,924 2,172
Taxation and social security 162,617 183,829
Other creditors 284,979 212,863
449,520 398,864

8. LEASING AGREEMENTS

The minimum lease payments under non-cancellable operating leases are £33,000 (2019: £11,000)

9. POST BALANCE SHEET EVENTS

Since 31 March 2020 the UK's economic outlook has deteriorated as a consequence of the Covid-19 pandemic and the measures taken by the government to control the spread of the virus. Although there is no immediate impact of the effects on the financial statements post year end, at this point it is not possible to estimate the future financial effect of this ongoing event.

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