West of Scotland Colleges Partnership - Accounts to registrar (filleted) - small 18.2
West of Scotland Colleges Partnership - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JULY 2020 |
| FOR |
| WEST OF SCOTLAND COLLEGES PARTNERSHIP |
| WEST OF SCOTLAND COLLEGES PARTNERSHIP (REGISTERED NUMBER: SC162568) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JULY 2020 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Chartered Accountants' Report | 6 |
| WEST OF SCOTLAND COLLEGES PARTNERSHIP |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 JULY 2020 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 166 Buchanan Street |
| Glasgow |
| Lanarkshire |
| G1 2LW |
| WEST OF SCOTLAND COLLEGES PARTNERSHIP (REGISTERED NUMBER: SC162568) |
| BALANCE SHEET |
| 31 JULY 2020 |
| 2020 | 2019 |
| Notes | £ | £ |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
| RESERVES |
| Other reserves |
| Income and expenditure account | ( |
) | ( |
) |
| ( |
) |
| The director acknowledges his 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 surplus or deficit 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. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director and authorised for issue on |
| WEST OF SCOTLAND COLLEGES PARTNERSHIP (REGISTERED NUMBER: SC162568) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JULY 2020 |
| 1. | STATUTORY INFORMATION |
| West of Scotland Colleges Partnership is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents the net value of consultancy services provided, excluding value added tax. |
| Tangible fixed assets |
| Plant and machinery etc | - |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| 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. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| Pension costs and other post-retirement benefits |
| The company makes contributions to the Strathclyde Pension Fund, a defined benefit scheme, which is externally funded and contracted out of the State Earnings Related Pension Scheme. Contributions to the scheme are determined by qualified actuaries on the basis of periodic valuations using the projected unit method. |
| The company has accounted for the scheme on a defined contribution basis as permitted by FRS 102. |
| WEST OF SCOTLAND COLLEGES PARTNERSHIP (REGISTERED NUMBER: SC162568) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JULY 2020 |
| 2. | ACCOUNTING POLICIES - continued |
| Going concern |
| The company has been operating at a structural deficit for many years, but due to income generated from concluded projects and the realisation of a pension scheme asset the company has recorded a surplus this year which has covered all liabilities. |
| As a result these accounts have been prepared on a going concern basis. The company will be wound up, on a solvent basis, in the near future. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 August 2019 |
| Disposals | ( |
) |
| At 31 July 2020 |
| DEPRECIATION |
| At 1 August 2019 |
| Eliminated on disposal | ( |
) |
| At 31 July 2020 |
| NET BOOK VALUE |
| At 31 July 2020 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| WEST OF SCOTLAND COLLEGES PARTNERSHIP (REGISTERED NUMBER: SC162568) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JULY 2020 |
| 7. | ULTIMATE CONTROLLING PARTY |
| The company is limited by guarantee, has no share capital and is under the control of the member colleges. The liability of the members is limited. |
| Every member of the company undertakes to contribute such amount as may be required (not exceeding £1) to the assets of the company, if it should be wound up while he/she is a member, or within one year after he/she ceases to be a member, and of the costs, charges and expenses of the winding up and for the adjustment of the rights of the contributories among themselves. |
| CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR |
| ON THE UNAUDITED FINANCIAL STATEMENTS OF |
| WEST OF SCOTLAND COLLEGES PARTNERSHIP |
| The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of West of Scotland Colleges Partnership for the year ended 31 July 2020 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
| As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance. |
| This report is made solely to the director of West of Scotland Colleges Partnership in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of West of Scotland Colleges Partnership and state those matters that we have agreed to state to the director of West of Scotland Colleges Partnership in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report. |
| It is your duty to ensure that West of Scotland Colleges Partnership has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of West of Scotland Colleges Partnership. You consider that West of Scotland Colleges Partnership is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of West of Scotland Colleges Partnership. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| Chartered Accountants |
| 166 Buchanan Street |
| Glasgow |
| Lanarkshire |
| G1 2LW |