Company Registration No. SC417339 (Scotland)
Calculo Ltd
Unaudited accounts
for the year ended 28 February 2022
Calculo Ltd
Unaudited accounts
Contents
Calculo Ltd
Company Information
for the year ended 28 February 2022
Company Number
SC417339 (Scotland)
Registered Office
Red Tree Magenta
270 Glasgow Road
Glasgow
G73 1SA
United Kingdom
Accountants
Calculo Ltd
Red Tree Magenta
270 Glasgow Road
Glasgow
G73 1SA
Calculo Ltd
Statement of financial position
as at
28 February 2022
Intangible assets
1,056
1,173
Tangible assets
10,598
7,417
Cash at bank and in hand
63,301
31,271
Creditors: amounts falling due within one year
(23,073)
(18,150)
Net current assets
41,848
15,150
Total assets less current liabilities
53,502
23,740
Creditors: amounts falling due after more than one year
(36,485)
(15,725)
Called up share capital
2
2
Profit and loss account
17,015
8,013
Shareholders' funds
17,017
8,015
For the year ending 28 February 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 22 June 2022 and were signed on its behalf by
Mr Ryan Jenkins
Director
Company Registration No. SC417339
Calculo Ltd
Notes to the Accounts
for the year ended 28 February 2022
Calculo Ltd is a private company, limited by shares, registered in Scotland, registration number SC417339. The registered office and principal place of business is Red Tree Magenta, 270 Glasgow Road, Glasgow, G73 1SA, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
10% reducing balance
Fixtures & fittings
10% reducing balance
Computer equipment
10% reducing balance
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Calculo Ltd
Notes to the Accounts
for the year ended 28 February 2022
The COVID-19 pandemic developed rapidly in 2020, with a significant number of cases. Measures taken by various governments to contain the virus have affected economic activity and we are now in the economic recovery period.
We have taken a number of measures to monitor and mitigate the effects of COVID-19, including safety and health measures for our people (such as social distancing and working from home) and securing the supply of key software that is essential to our service delivery.
At this stage, the impact on our business and results has been insignificant and results have in fact been positive.
As we operate in the Professional Services sector there has been an increase in demand for our services and we expect this to continue in 2022/23.
We will continue to follow the various government policies and advice and, in parallel, we will do our utmost to continue our operations in the best and safest way possible without jeopardising the health of our people.
Even if, at this moment, no uncertainty about the entity's ability to continue as a going concern is identified, this can change at short notice and we have prioritised our liquidity position and growth in working capital within our financial KPI's to mitigate the risks.
4
Intangible fixed assets
Other
At 28 February 2022
1,303
At 28 February 2022
1,056
At 28 February 2021
1,173
5
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 March 2021
208
1,072
7,246
8,526
Additions
-
-
4,359
4,359
At 28 February 2022
208
1,072
11,605
12,885
At 1 March 2021
40
183
886
1,109
Charge for the year
17
89
1,072
1,178
At 28 February 2022
57
272
1,958
2,287
At 28 February 2022
151
800
9,647
10,598
At 28 February 2021
168
889
6,360
7,417
Calculo Ltd
Notes to the Accounts
for the year ended 28 February 2022
6
Debtors: amounts falling due within one year
2022
2021
7
Creditors: amounts falling due within one year
2022
2021
Bank loans and overdrafts
1,275
2,172
Taxes and social security
11,494
7,082
Other creditors
5,282
148
Loans from directors
-
2,569
8
Creditors: amounts falling due after more than one year
2022
2021
Loans from directors
22,033
-
9
Average number of employees
During the year the average number of employees was 5 (2021: 4).