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COMPANY REGISTRATION NUMBER: SC201208
Tomintoul & Strathavon Highland Games
Company Limited by Guarantee
Filleted Unaudited Financial Statements
30 November 2023
Tomintoul & Strathavon Highland Games
Company Limited by Guarantee
Statement of Financial Position
30 November 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
4,478
4,703
Current assets
Debtors
6
560
Cash at bank and in hand
54,681
53,208
--------
--------
55,241
53,208
Creditors: amounts falling due within one year
7
724
1,337
--------
--------
Net current assets
54,517
51,871
--------
--------
Total assets less current liabilities
58,995
56,574
--------
--------
Net assets
58,995
56,574
--------
--------
Capital and reserves
Profit and loss account
58,995
56,574
--------
--------
Members funds
58,995
56,574
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Tomintoul & Strathavon Highland Games
Company Limited by Guarantee
Statement of Financial Position (continued)
30 November 2023
These financial statements were approved by the board of directors and authorised for issue on 7 February 2024 , and are signed on behalf of the board by:
A F Shewan
Director
Company registration number: SC201208
Tomintoul & Strathavon Highland Games
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 30 November 2023
1. General information
The company is a private company limited by guarantee, registered in Scotland. The address of the registered office is Eskemore Croft, Chapeltown, Ballindalloch, Banffshire, AB37 9JT.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
The turnover shown in the profit and loss account represents amounts received from Admissions, Saturday Dance, Raffles, Sponsors/Donations and other income derived from the promotion, staging, management and operation of the Highland Games.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant & Machinery
-
15% reducing balance
Financial instruments
The following assets and liabilities are classified as financial instruments - bank, trade debtors and trade creditors. Cash and cash equivalents in the statement of financial position comprise cash at bank and in hand held on demand. Bank overdrafts are shown within creditors due within one year. Trade debtors and creditors are measured at the undiscounted amounts receivable from the customer or payable to a supplier, which is normally the invoiced price. Trade debtors are assessed at the end of each reporting period for the objective evidence of impairment. If such evidence is found, an impairment loss is recognised in the statement of income and retained earnings.
4. Company limited by guarantee
The company is limited by guarantee and does not have share capital. The liability of each member in the event of winding up is limited to £1.
5. Tangible assets
Plant and machinery
Fencing
Total
£
£
£
Cost
At 1 December 2022 and 30 November 2023
4,819
3,202
8,021
-------
-------
-------
Depreciation
At 1 December 2022
3,318
3,318
Charge for the year
225
225
-------
-------
-------
At 30 November 2023
3,543
3,543
-------
-------
-------
Carrying amount
At 30 November 2023
1,276
3,202
4,478
-------
-------
-------
At 30 November 2022
1,501
3,202
4,703
-------
-------
-------
6. Debtors
2023
2022
£
£
Other debtors
560
----
----
7. Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
19
31
Other creditors
705
1,306
----
-------
724
1,337
----
-------