Purchasepoint Compass (Scotland) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC206007

PURCHASEPOINT COMPASS (SCOTLAND) LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2018

Page

Balance Sheet

1

Notes to the Financial Statements

2

FIXED ASSETS

Tangible assets

4

326

435

CURRENT ASSETS

Debtors

5

7,430

1,339

Cash at bank

133

605

7,563

1,944

CREDITORS

Amounts falling due within one year

6

(19,500

)

(15,725

)

NET CURRENT LIABILITIES

(11,937

)

(13,781

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(11,611

)

(13,346

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(11,613

)

(13,348

)

(11,611

)

(13,346

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 director on 6 September 2018 and were signed by:

Miss A J Thistle - Director

1.	STATUTORY INFORMATION

Purchasepoint Compass (Scotland) Limited is a private company, limited by shares, registered in Scotland. The

company's registered office is 71 Lochhead Avenue, Lochwinnoch, Renfrewshire, PA12 4AW.

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 the provisions of Section 1A "Small Entities"

of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of

Ireland" and the Companies Act 2006. There were no material departures from that standard. The financial

statements have been prepared under the historical cost convention.

At the balance sheet date the company's liabilities exceeded its assets and its ability to trade is dependent on the

continued financial support of the director and other creditors. The director has confirmed that she will provide

financial support as required and consequently the going concern basis is considered appropriate.

Turnover

Turnover represents the invoiced value of services provided during the period. The company's policy is to

recognise a sale when all the risks and rewards in connection with the services have been passed to the purchaser.

Tangible fixed assets

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

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

Financial instruments

The company only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic

financial instruments are recognised at amortised cost.

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 director considers 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2017 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 May 2017

and 30 April 2018

1,375

DEPRECIATION

At 1 May 2017

940

Charge for year

109

At 30 April 2018

1,049

NET BOOK VALUE

At 30 April 2018

326

At 30 April 2017

435

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

7,430

1,339

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

2,849

186

Taxation and social security

1,200

1,048

Other creditors

15,451

14,491

19,500

15,725

7.	RELATED PARTY DISCLOSURES

At the year end, included in creditors, £14,751 (2017 - £13,791) is due to the director. The loan is interest free,

unsecured and repayable on demand.