Bruce Tait Associates Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: SC314819 (Scotland)

Unaudited Financial Statements for the Year Ended 31 March 2022

for

Bruce Tait Associates Limited

Page

Balance Sheet

1

Notes to the Financial Statements

2

FIXED ASSETS

Tangible assets

4

5,814

5,475

CURRENT ASSETS

Debtors

5

205,052

103,138

Cash at bank and in hand

141,832

93,153

346,884

196,291

CREDITORS

Amounts falling due within one year

6

(204,065

)

(137,491

)

NET CURRENT ASSETS

142,819

58,800

TOTAL ASSETS LESS CURRENT LIABILITIES

148,633

64,275

PROVISIONS FOR LIABILITIES

(1,451

)

(410

)

NET ASSETS

147,182

63,865

CAPITAL AND RESERVES

Called up share capital

104

104

Retained earnings

147,078

63,761

147,182

63,865

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

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 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 December 2022 and were signed by:

Mr B R Tait - Director

1.	STATUTORY INFORMATION

Bruce Tait Associates Limited is a private company, limited by shares, domiciled in Scotland, registration number SC314819. The registered office is Jubilee House, Forthside Way, Stirling, Scotland, FK8 1QZ.

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.

Turnover

Turnover represents net invoiced sales of services in respect of consultancy and recruitment services excluding value added tax. Sales are recognised at the point at which the service is complete.

Tangible fixed assets and depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance and 15% on reducing balance

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Provisions

Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2021 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2021

21,108

Additions

1,804

At 31 March 2022

22,912

DEPRECIATION

At 1 April 2021

15,633

Charge for year

1,465

At 31 March 2022

17,098

NET BOOK VALUE

At 31 March 2022

5,814

At 31 March 2021

5,475

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Trade debtors

203,764

98,128

Amounts owed by related parties

1,288

4,750

Other debtors

-

260

205,052

103,138

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Amounts owed to related parties

6,802

21,643

Taxation and social security

128,149

76,432

Other creditors

69,114

39,416

204,065

137,491

7.	RELATED PARTY DISCLOSURES

Companies with common shareholder

Amounts due from related party £1,288 (2021: £4,750)

Amounts due to related party £6,802 (2021: £21,643)