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REGISTERED NUMBER: SC342965 (Scotland)




















Fringe By The Sea Limited

Unaudited Financial Statements

for the Year Ended 31 October 2023






Fringe By The Sea Limited (Registered number: SC342965)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Fringe By The Sea Limited

Company Information
for the Year Ended 31 October 2023







DIRECTOR: R D Steel



REGISTERED OFFICE: The Lighthouse
Heugh Road
North Berwick
EH39 5PX



REGISTERED NUMBER: SC342965 (Scotland)



ACCOUNTANTS: Whitelaw Wells
The Lighthouse
Heugh Road
North Berwick
EH39 5PX



BANKERS: TSB Bank plc
Henry Duncan House
120 George Street
Edinburgh
EH2 4LH

Fringe By The Sea Limited (Registered number: SC342965)

Balance Sheet
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,063 1,046

CURRENT ASSETS
Stocks 5,000 5,000
Debtors 5 168 5,981
Cash at bank 10,082 21,349
15,250 32,330
CREDITORS
Amounts falling due within one year 6 43,073 106,188
NET CURRENT LIABILITIES (27,823 ) (73,858 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(24,760

)

(72,812

)

CREDITORS
Amounts falling due after more than
one year

7

33,260

35,819
NET LIABILITIES (58,020 ) (108,631 )

RESERVES
Income and expenditure account (58,020 ) (108,631 )
(58,020 ) (108,631 )

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

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

Fringe By The Sea Limited (Registered number: SC342965)

Balance Sheet - continued
31 October 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 director and authorised for issue on 16 February 2024 and were signed by:





R D Steel - Director


Fringe By The Sea Limited (Registered number: SC342965)

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

1. STATUTORY INFORMATION

Fringe By The Sea Limited 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 and revenue recognition
Turnover represents ticket sales, grants, sponsorship, advertising and pitch fees from events held during the festival. All event revenue is recognised in the month the event takes place.

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 cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

All loans with related parties are all repayable on demand.

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.

Going concern
At 31 October 2023 the company had net liabilities of £58,020 (2022: £108,631). The company is dependent on the support of its directors and creditors. On the basis that the support will continue, the accounts have been prepared on the going concern basis.

Fringe By The Sea Limited (Registered number: SC342965)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2022 10,756
Additions 3,167
At 31 October 2023 13,923
DEPRECIATION
At 1 November 2022 9,710
Charge for year 1,150
At 31 October 2023 10,860
NET BOOK VALUE
At 31 October 2023 3,063
At 31 October 2022 1,046

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 168 4,425
Other debtors - 1,556
168 5,981

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 6,490 9,707
Trade creditors 7,921 31,724
Taxation and social security 22,168 13,445
Other creditors 6,494 51,312
43,073 106,188

Included within other creditors is a loan from the director. The loan is unsecured, interest-free and repayable on demand.

Fringe By The Sea Limited (Registered number: SC342965)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 33,260 35,819

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years 7,299 3,432

8. RELATED PARTY DISCLOSURES

During the year, Fringe By The Sea Limited received and repaid advances of £18,000 to related companies (2022: £5,000). The company bought goods and services on normal commercial terms from a related company of £22,785 plus VAT (2022: £24,213 plus VAT).

9. LIMITED BY GUARANTEE

The company is limited by guarantee and therefore has no share capital. The liability of the members upon winding up the company is limited to £1 each.