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REGISTERED NUMBER: SC350926 (Scotland)















Financial Statements for the Year Ended 31 May 2023

for

Caithness Chamber of Commerce

Caithness Chamber of Commerce (Registered number: SC350926)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Caithness Chamber of Commerce

Company Information
for the Year Ended 31 May 2023







DIRECTORS: S Sutherland
Ms T Morris
Mrs S I Kirk
A S Mackay
M J Rouse
S R Middlemas
Ms J M Simpson
Mrs L M Sinclair
I Taylor
Dr K Nicholson
Mrs D Murray
I A Neale
D A Macdonald





REGISTERED OFFICE: Naver Business Centre
Naver House
Naver Road
Thurso
Caithness
KW14 7QA





REGISTERED NUMBER: SC350926 (Scotland)





ACCOUNTANTS: Reid & Fraser
Chartered Accountants
15 Princes Street
Thurso
Caithness
KW14 7BQ

Caithness Chamber of Commerce (Registered number: SC350926)

Balance Sheet
31 May 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 2,090 2,836

CURRENT ASSETS
Debtors 5 59,563 50,293
Cash at bank and in hand 370,609 325,249
430,172 375,542
CREDITORS
Amounts falling due within one year 6 (171,117 ) (141,823 )
NET CURRENT ASSETS 259,055 233,719
TOTAL ASSETS LESS CURRENT
LIABILITIES

261,145

236,555

CREDITORS
Amounts falling due after more than one
year

7

(8,000

)

-
NET ASSETS 253,145 236,555

RESERVES
Income and expenditure account 253,145 236,555
253,145 236,555

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 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 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.

Caithness Chamber of Commerce (Registered number: SC350926)

Balance Sheet - continued
31 May 2023


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 Board of Directors and authorised for issue on 5 October 2023 and were signed on its behalf by:





Ms T Morris - Director


Caithness Chamber of Commerce (Registered number: SC350926)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

Caithness Chamber of Commerce is a private company, limited by guarantee , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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 comprises members' subscriptions and amounts derived from the provision of services to members, excluding value added tax.

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% reducing balance and 15% reducing balance

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.

GOVERNMENT GRANTS
Government grants in respect of capital expenditure are credited to a deferred income account and released to the profit and loss account over the useful lives of the relevant assets.

Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

DEFERRED INCOME
Membership subscription income is deferred to the extent that it relates to future years.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 7 ) .

Caithness Chamber of Commerce (Registered number: SC350926)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2022 8,732
Additions 210
Disposals (1,998 )
At 31 May 2023 6,944
DEPRECIATION
At 1 June 2022 5,896
Charge for year 654
Eliminated on disposal (1,696 )
At 31 May 2023 4,854
NET BOOK VALUE
At 31 May 2023 2,090
At 31 May 2022 2,836

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 16,135 15,675
Other debtors 43,428 34,618
59,563 50,293

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 2,917 935
Corporation Tax 14 14
VAT 4,018 2,181
Other creditors 3,165 7,762
Deferred income 39,680 44,026
Deferred government grants 121,323 86,905
171,117 141,823

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Accruals and deferred income 8,000 -

Caithness Chamber of Commerce (Registered number: SC350926)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

8. RELATED PARTY DISCLOSURES

Controlling Parties:

The company is not controlled by any single party, as the company is limited by guarantee.