REGISTERED NUMBER: |
Scottish Creel Fishermen's Federation |
Unaudited Financial Statements |
for the Year Ended 31st December 2023 |
REGISTERED NUMBER: |
Scottish Creel Fishermen's Federation |
Unaudited Financial Statements |
for the Year Ended 31st December 2023 |
Scottish Creel Fishermen's Federation (Registered number: SC448626) |
Contents of the Financial Statements |
for the year ended 31st December 2023 |
Page |
Company information | 1 |
Balance sheet | 2 | to | 3 |
Notes to the financial statements | 4 | to | 5 |
Scottish Creel Fishermen's Federation |
Company Information |
for the year ended 31st December 2023 |
Directors: |
Registered office: |
Registered number: |
Accountants: |
Academy House |
Shedden Park Road |
Kelso |
Roxburghshire |
TD5 7AL |
Scottish Creel Fishermen's Federation (Registered number: SC448626) |
Balance Sheet |
31st December 2023 |
2023 | 2022 |
Notes | £ | £ |
Current assets |
Cash at bank |
Creditors |
Amounts falling due within one year | 4 |
Net current assets |
Total assets less current liabilities |
Reserves |
Income and expenditure account |
Scottish Creel Fishermen's Federation (Registered number: SC448626) |
Balance Sheet - continued |
31st December 2023 |
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. |
In accordance with Section 444 of the Companies Act 2006, the Statement of income and retained earnings has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Scottish Creel Fishermen's Federation (Registered number: SC448626) |
Notes to the Financial Statements |
for the year ended 31st December 2023 |
1. | Statutory information |
Scottish Creel Fishermen's Federation is a |
2. | Accounting policies |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Turnover arising from the sale of memberships is recognised when payment has been made. |
Financial instruments |
The following assets and liabilities are classified as financial instruments - accruals. |
Accruals are measured at the undiscounted amount of the cash or other consideration expected to be paid or received. |
Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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. |
Provisions |
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis. |
Scottish Creel Fishermen's Federation (Registered number: SC448626) |
Notes to the Financial Statements - continued |
for the year ended 31st December 2023 |
2. | Accounting policies - continued |
Employee benefits |
Short term employee benefits, including holiday pay, are recognised as an expense in the Statement of Income and Retained Earnings in the period in which they are incurred. |
Going concern |
The directors have considered the company's financial position for a minimum period of 12 months and beyond from the date of signing these financial statements and have an expectation that the company should be in a position to continue trading in the current format for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing these financial statements. |
3. | Employees and directors |
The average number of employees during the year was |
4. | Creditors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Taxation and social security |
Other creditors |