REGISTERED NUMBER: |
Fringe By The Sea Limited |
Unaudited Financial Statements |
for the Year Ended 31 October 2023 |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
The Lighthouse |
Heugh Road |
North Berwick |
EH39 5PX |
BANKERS: |
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 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET LIABILITIES | ( |
) | ( |
) |
RESERVES |
Income and expenditure account | ( |
) | ( |
) |
( |
) | ( |
) |
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 |
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 |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Plant and machinery etc | - |
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 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 November 2022 |
Additions |
At 31 October 2023 |
DEPRECIATION |
At 1 November 2022 |
Charge for year |
At 31 October 2023 |
NET BOOK VALUE |
At 31 October 2023 |
At 31 October 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
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 |
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. |