First City Events (Scotland) Limited SC269787 false 2022-07-01 2023-06-30 2023-06-30 The principal activity of the company is event management services. Digita Accounts Production Advanced 6.30.9574.0 true SC269787 2022-07-01 2023-06-30 SC269787 2023-06-30 SC269787 bus:OrdinaryShareClass1 2023-06-30 SC269787 core:CurrentFinancialInstruments 2023-06-30 SC269787 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 SC269787 core:Non-currentFinancialInstruments core:AfterOneYear 2023-06-30 SC269787 core:FurnitureFittingsToolsEquipment 2023-06-30 SC269787 core:MotorVehicles 2023-06-30 SC269787 core:OtherPropertyPlantEquipment 2023-06-30 SC269787 bus:SmallEntities 2022-07-01 2023-06-30 SC269787 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 SC269787 bus:FullAccounts 2022-07-01 2023-06-30 SC269787 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 SC269787 bus:RegisteredOffice 2022-07-01 2023-06-30 SC269787 bus:CompanySecretaryDirector1 2022-07-01 2023-06-30 SC269787 bus:OrdinaryShareClass1 2022-07-01 2023-06-30 SC269787 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 SC269787 core:ComputerEquipment 2022-07-01 2023-06-30 SC269787 core:FurnitureFittings 2022-07-01 2023-06-30 SC269787 core:FurnitureFittingsToolsEquipment 2022-07-01 2023-06-30 SC269787 core:MotorVehicles 2022-07-01 2023-06-30 SC269787 core:OtherPropertyPlantEquipment 2022-07-01 2023-06-30 SC269787 core:PlantMachinery 2022-07-01 2023-06-30 SC269787 countries:Scotland 2022-07-01 2023-06-30 SC269787 2022-06-30 SC269787 core:FurnitureFittingsToolsEquipment 2022-06-30 SC269787 core:MotorVehicles 2022-06-30 SC269787 core:OtherPropertyPlantEquipment 2022-06-30 SC269787 2021-07-01 2022-06-30 SC269787 2022-06-30 SC269787 bus:OrdinaryShareClass1 2022-06-30 SC269787 core:CurrentFinancialInstruments 2022-06-30 SC269787 core:CurrentFinancialInstruments core:WithinOneYear 2022-06-30 SC269787 core:Non-currentFinancialInstruments core:AfterOneYear 2022-06-30 SC269787 core:FurnitureFittingsToolsEquipment 2022-06-30 SC269787 core:MotorVehicles 2022-06-30 SC269787 core:OtherPropertyPlantEquipment 2022-06-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: SC269787

First City Events (Scotland) Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2023

 

First City Events (Scotland) Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

First City Events (Scotland) Limited

Company Information

Director

Mrs J Lamond

Company secretary

Mrs J Lamond

Registered office

3 High Street
Kinross
KY13 8AW

Accountants

Ross McConnell
Chartered Accountant
3 High Street
Kinross
KY13 8AW

 

First City Events (Scotland) Limited

(Registration number: SC269787)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed Assets

 

Tangible Assets

4

5,270

3,791

Current assets

 

Debtors

5

97,332

28,003

Cash at bank and in hand

 

20,865

50,007

 

118,197

78,010

Creditors: Amounts falling due within one year

6

(37,023)

(23,297)

Net current assets

 

81,174

54,713

Total assets less current liabilities

 

86,444

58,504

Creditors: Amounts falling due after more than one year

6

(28,751)

(37,613)

Net assets

 

57,693

20,891

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

57,691

20,889

Shareholders' funds

 

57,693

20,891

For the financial year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 28 March 2024
 

.........................................
Mrs J Lamond
Company secretary and director

 

First City Events (Scotland) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
3 High Street
Kinross
KY13 8AW

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible Assets

Tangible Assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

First City Events (Scotland) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & Machinery

25% reducing balance

Fixtures & Fittings

15% reducing balance

Computer equipment

33% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2022 - 2).

 

First City Events (Scotland) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

4

Tangible Assets

Fixtures & Fittings
 £

Computer Equipment
 £

Plant & Machinery
 £

Total
£

Cost or valuation

At 1 July 2022

1,711

11,149

795

13,655

Additions

-

3,809

-

3,809

At 30 June 2023

1,711

14,958

795

17,464

Depreciation

At 1 July 2022

753

8,377

734

9,864

Charge for the year

143

2,172

15

2,330

At 30 June 2023

896

10,549

749

12,194

Carrying amount

At 30 June 2023

815

4,409

46

5,270

At 30 June 2022

958

2,772

61

3,791

5

Debtors

Current

2023
£

2022
£

Trade debtors

97,332

28,003

 

First City Events (Scotland) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

15,050

11,433

Corporation tax

12,443

3,013

Accruals and deferred income

1,000

1,000

Other creditors

8,530

7,851

37,023

23,297

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

28,751

37,613

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2