Company Registration No. SC711140 (Scotland)
The Arran Collective Ltd
Unaudited accounts
for the year ended 31 October 2023
The Arran Collective Ltd
Unaudited accounts
Contents
The Arran Collective Ltd
Company Information
for the year ended 31 October 2023
Directors
Michael John Dixon
Stuart Mcpherson
James Alexander Mercer
Company Number
SC711140 (Scotland)
Registered Office
4 HENDRY PLACE
BRODICK
ISLE OF ARRAN
KA27 8GG
SCOTLAND
Accountants
Arran Accountancy Limited
Alexanders
Brodick
Isle of Arran
KA27 8HF
The Arran Collective Ltd
Statement of financial position
as at 31 October 2023
Tangible assets
5,872
5,737
Cash at bank and in hand
39,146
17,442
Creditors: amounts falling due within one year
(49,186)
(37,347)
Net current (liabilities)/assets
(4,524)
43,922
Total assets less current liabilities
1,348
49,659
Provisions for liabilities
Deferred tax
(1,116)
(1,090)
Called up share capital
3
3
Profit and loss account
229
48,566
Shareholders' funds
232
48,569
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 18 April 2024 and were signed on its behalf by
Michael John Dixon
Director
Company Registration No. SC711140
The Arran Collective Ltd
Notes to the Accounts
for the year ended 31 October 2023
The Arran Collective Ltd is a private company, limited by shares, registered in Scotland, registration number SC711140. The registered office is 4 HENDRY PLACE, BRODICK, ISLE OF ARRAN, KA27 8GG, SCOTLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing balance
Fixtures & fittings
25% Reducing balance
Computer equipment
20% Straight line
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The Arran Collective Ltd
Notes to the Accounts
for the year ended 31 October 2023
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 November 2022
6,059
492
-
6,551
At 31 October 2023
7,009
492
682
8,183
At 1 November 2022
752
62
-
814
Charge for the year
1,358
107
32
1,497
At 31 October 2023
2,110
169
32
2,311
At 31 October 2023
4,899
323
650
5,872
At 31 October 2022
5,307
430
-
5,737
Amounts falling due within one year
Accrued income and prepayments
116
-
Other debtors
5,250
63,827
Amounts falling due after more than one year
6
Creditors: amounts falling due within one year
2023
2022
Trade creditors
16,279
4,619
Taxes and social security
16,445
19,413
Allotted, called up and fully paid:
3 Ordinary shares of £1 each
3
3
8
Average number of employees
During the year the average number of employees was 8 (2022: 2).