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REGISTERED NUMBER: SC018714 (Scotland)




















Scottish Corn Trade Association Limited
(The)

Unaudited Financial Statements

for the Year Ended 31 December 2023






Scottish Corn Trade Association Limited
(The) (Registered number: SC018714)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Scottish Corn Trade Association Limited
(The)

Company Information
for the Year Ended 31 December 2023







DIRECTORS: W M Davidson
B W Ferguson
I F Reid
H Thomson
J Lowe
R Dobson
G Logan
L Martin
C McCallum





SECRETARY: A Macaulay





REGISTERED OFFICE: 9 Ainslie Place
Edinburgh
EH3 6AT





REGISTERED NUMBER: SC018714 (Scotland)





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

Scottish Corn Trade Association Limited
(The) (Registered number: SC018714)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investments 4 41,500 41,500

CURRENT ASSETS
Debtors 5 - 360
Cash at bank 55,368 50,535
55,368 50,895
CREDITORS
Amounts falling due within one year 6 2,542 2,378
NET CURRENT ASSETS 52,826 48,517
TOTAL ASSETS LESS CURRENT
LIABILITIES

94,326

90,017

PROVISIONS FOR LIABILITIES 7,885 7,885
NET ASSETS 86,441 82,132

RESERVES
Benevolent fund 6,702 6,702
Fair value reserve 7 33,615 33,615
Income and expenditure account 46,124 41,815
86,441 82,132

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

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.

Scottish Corn Trade Association Limited
(The) (Registered number: SC018714)

Balance Sheet - continued
31 December 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 Board of Directors and authorised for issue on 8 March 2024 and were signed on its behalf by:





I F Reid - Director


Scottish Corn Trade Association Limited
(The) (Registered number: SC018714)

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

1. STATUTORY INFORMATION

Scottish Corn Trade Association Limited (The) 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 annual membership subscriptions and annual dinner ticket sales, excluding VAT.

Revenue is recognised when the invoice is raised.

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.

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.

Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Going concern
The financial statements have been prepared on the going concern principle, which assumes that the company will continue to trade for the foreseeable future.

Scottish Corn Trade Association Limited
(The) (Registered number: SC018714)

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

2. ACCOUNTING POLICIES - continued

Provisions
Provisions are recognised where the company has a present obligation as a result of a past event, it is probably the company will be required to settle the obligations, and a reliable estimate can be made of the obligations. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2023
and 31 December 2023 41,500
NET BOOK VALUE
At 31 December 2023 41,500
At 31 December 2022 41,500

Included in other unlisted fixed assets investments is the ceremonial jewel owned by the company, with a value of £41,500 at the year ended. The original cost and date of purchase of the jewel is unknown.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 360

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 1,152 988
Other creditors 1,390 1,390
2,542 2,378

Scottish Corn Trade Association Limited
(The) (Registered number: SC018714)

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

7. RESERVES
Fair
value
reserve
£   
At 1 January 2023
and 31 December 2023 33,615