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REGISTERED NUMBER: SC042842 (Scotland)















Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 31 March 2024

for

LANARKSHIRE ICE RINK PLC

LANARKSHIRE ICE RINK PLC (REGISTERED NUMBER: SC042842)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Profit and Loss Account 9

Other Comprehensive Income 10

Balance Sheet 11

Statement of Changes in Equity 12

Cash Flow Statement 13

Notes to the Cash Flow Statement 14

Notes to the Financial Statements 15


LANARKSHIRE ICE RINK PLC

Company Information
for the Year Ended 31 March 2024







DIRECTORS: J M Raeburn Chairman
D G Burt Vice Chairman
B M Smith
M W Craig
I L Fleming
G Strang
A Moffat
Mrs A Taylor
E Richardson


SECRETARY: J K Allison


REGISTERED OFFICE: 13/15 Strathmore House
Town Centre
East Kilbride
Glasgow
G74 1LF


REGISTERED NUMBER: SC042842 (Scotland)


SENIOR STATUTORY AUDITOR: Robert Pollock BA CA


AUDITORS: Sharles Audit Limited
Statutory Auditor
29 Brandon Street
Hamilton
ML3 6DA


BANKERS: Bank of Scotland
9 Brandon Street
Hamilton
ML3 6BZ


SOLICITORS: Miller, Beckett & Jackson
190 St. Vincent Street
Glasgow
G2 5SP

LANARKSHIRE ICE RINK PLC (REGISTERED NUMBER: SC042842)

Strategic Report
for the Year Ended 31 March 2024

The directors present their strategic report for the year ended 31 March 2024.

REVIEW OF BUSINESS
In the opinion of the board of directors, the group has achieved satisfactory results of the year under review, despite the difficult market conditions.


Year to 31st March 2024 Year to 31st March 2023

Turnover £210,699 £252,462

(Loss) after taxation (£11,771 ) (£18,931 )

Shareholders' funds amount to £325,645 (2023 - £337,416). The directors are confident that the company has sufficient reserves to finance the anticipated levels of activity in the future.

This was the first "normal" season since 2019/20, with no interruptions with Covid or Plant issues. The anticipated saving of £49k of Energy costs was achieved, and it is hoped that there will be a further reduction of 20-25 per cent in the current year.

There was no major capital expenditure in the year, although some of the solar panel equipment was upgraded, and a barrier system installed at the entrance to the car park - total cost £6.7k.

The directors are satisfied with the results for the year, and are not aware of any post Balance Sheet events which will materially affect the financial position of the Company.

PRINCIPAL RISKS AND UNCERTAINTIES
The company operates in the letting of facilities to sports clubs and provision of management services to these clubs. The company is therefore subject to the trading cycles that occur in that sector. The company has a high level of membership loyalty and the board is confident that the excellent levels of service provided will ensure that the company continues to be the provider of these services in it's chosen markets.

The company's main credit risk relates to turnover. Payment histories and credit ratings of all customers are monitored closely.

The company does not have an overdraft facility with its bankers. The company monitors cash flow as part of its day to day control procedures.

ON BEHALF OF THE BOARD:





J K Allison - Secretary


14 August 2024

LANARKSHIRE ICE RINK PLC (REGISTERED NUMBER: SC042842)

Report of the Directors
for the Year Ended 31 March 2024

The directors present their report with the financial statements of the company for the year ended 31 March 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of the letting of facilities to sporting clubs and provision of management services to these clubs.

DIVIDENDS
No dividends will be distributed for the year ended 31 March 2024.

FUTURE DEVELOPMENTS
As stated last year, the Directors main aims continue to be the maximisation of the use of the facilities, the continuing improvement in profit levels and the provision of funds for future maintenance of the premises.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 April 2023 to the date of this report.

J M Raeburn Chairman
D G Burt Vice Chairman
B M Smith
M W Craig
I L Fleming
G Strang
A Moffat
Mrs A Taylor
E Richardson

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-state whether applicable accounting standards have been followed, subject to any material departures disclosed and
explained in the financial statements;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

LANARKSHIRE ICE RINK PLC (REGISTERED NUMBER: SC042842)

Report of the Directors
for the Year Ended 31 March 2024


AUDITORS
The auditors, Sharles Audit Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:



J K Allison - Secretary


14 August 2024

Report of the Independent Auditors to the Members of
Lanarkshire Ice Rink plc

Opinion
We have audited the financial statements of Lanarkshire Ice Rink plc (the 'company') for the year ended 31 March 2024 which comprise the Profit and Loss Account, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 March 2024 and of its loss for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Lanarkshire Ice Rink plc


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Lanarkshire Ice Rink plc


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The aims of our audit are to identify and assess the risks of material misstatement of the financial statements as a result of fraud or error, to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement as a result of fraud or error and to respond appropriately to those risks. As a result of the inherent limitations of an audit, there is an unavoidable risk that material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with ISAs (UK).

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures include the following:

- We obtained an understanding of the legal and regulatory frameworks applicable to the company and the sector
in which they operate. We determined that the following laws and regulations were most significant: the
Companies Act 2006 and UK corporate tax laws, Health & Safety at Work Act, GDPR and Anti Money
Laundering legislation. We confirmed with management that there were no actual, suspected, or alleged issues
instances of non-compliance with laws and regulations during the year.
- Assessment of the appropriateness of the collective competence and capabilities of the engagement team
included consideration of the engagement teams:
- knowledge of the industry in which the client operates- understanding of and practical enactments of a similar nature, and complexity through appropriate training and participation
- understanding of the legal and regulatory requirements specific to the entity
- We obtained an understanding of how the company complies with those legal and regulatory frameworks by
making inquiries of management. We undertook a review of legal fees for any evidence of non-compliance.
- We assessed the susceptibility of the company financial statements to material misstatement, including how fraud
might occur. Audit procedures performed by the audit team included:
- identifying and documenting the controls management has in place to prevent and detect fraud and error;
- understanding how those charged with governance considered and addressed the potential for override of
controls or other inappropriate influence over the financial reporting process;
- challenging assumptions and judgements made by management in its significant accounting estimates;
- identifying and testing journal entries, in particular any journal entries posted for large or unusual amounts;
- assessing the extent of compliance with relevant laws and regulations; and
- sample testing of transactions and balances.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Lanarkshire Ice Rink plc


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Robert Pollock BA CA (Senior Statutory Auditor)
for and on behalf of Sharles Audit Limited
Statutory Auditor
29 Brandon Street
Hamilton
ML3 6DA

15 August 2024

LANARKSHIRE ICE RINK PLC (REGISTERED NUMBER: SC042842)

Profit and Loss Account
for the Year Ended 31 March 2024

2024 2023
Notes £    £   

TURNOVER 4 210,699 252,462

Administrative expenses 242,823 283,618
(32,124 ) (31,156 )

Other operating income 5 20,353 12,225
OPERATING LOSS and
LOSS BEFORE TAXATION (11,771 ) (18,931 )

Tax on loss 8 - -
LOSS FOR THE FINANCIAL YEAR (11,771 ) (18,931 )

LANARKSHIRE ICE RINK PLC (REGISTERED NUMBER: SC042842)

Other Comprehensive Income
for the Year Ended 31 March 2024

2024 2023
Notes £    £   

LOSS FOR THE YEAR (11,771 ) (18,931 )


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

(11,771

)

(18,931

)

LANARKSHIRE ICE RINK PLC (REGISTERED NUMBER: SC042842)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 9 392,237 423,073

CURRENT ASSETS
Debtors 10 248,160 407,693
Cash at bank 26,799 12,744
274,959 420,437
CREDITORS
Amounts falling due within one year 11 341,551 506,094
NET CURRENT LIABILITIES (66,592 ) (85,657 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

325,645

337,416

CAPITAL AND RESERVES
Called up share capital 12 200,500 200,500
Retained earnings 13 125,145 136,916
SHAREHOLDERS' FUNDS 325,645 337,416

The financial statements were approved by the Board of Directors and authorised for issue on 14 August 2024 and were signed on its behalf by:





J M Raeburn Chairman - Director


LANARKSHIRE ICE RINK PLC (REGISTERED NUMBER: SC042842)

Statement of Changes in Equity
for the Year Ended 31 March 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 April 2022 200,500 155,847 356,347

Changes in equity
Total comprehensive income - (18,931 ) (18,931 )
Balance at 31 March 2023 200,500 136,916 337,416

Changes in equity
Total comprehensive income - (11,771 ) (11,771 )
Balance at 31 March 2024 200,500 125,145 325,645

LANARKSHIRE ICE RINK PLC (REGISTERED NUMBER: SC042842)

Cash Flow Statement
for the Year Ended 31 March 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 14,055 69,010
Net cash from operating activities 14,055 69,010

Cash flows from investing activities
Purchase of tangible fixed assets - (65,531 )
Net cash from investing activities - (65,531 )

Increase in cash and cash equivalents 14,055 3,479
Cash and cash equivalents at beginning of
year

2

12,744

9,265

Cash and cash equivalents at end of year 2 26,799 12,744

LANARKSHIRE ICE RINK PLC (REGISTERED NUMBER: SC042842)

Notes to the Cash Flow Statement
for the Year Ended 31 March 2024

1. RECONCILIATION OF LOSS BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS
2024 2023
£    £   
Loss before taxation (11,771 ) (18,931 )
Depreciation charges 30,836 33,501
19,065 14,570
Decrease/(increase) in trade and other debtors 159,533 (193,778 )
(Decrease)/increase in trade and other creditors (164,543 ) 248,218
Cash generated from operations 14,055 69,010

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 March 2024
31.3.24 1.4.23
£    £   
Cash and cash equivalents 26,799 12,744
Year ended 31 March 2023
31.3.23 1.4.22
£    £   
Cash and cash equivalents 12,744 9,265


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.23 Cash flow At 31.3.24
£    £    £   
Net cash
Cash at bank and in hand 12,744 14,055 26,799
12,744 14,055 26,799
Total 12,744 14,055 26,799

LANARKSHIRE ICE RINK PLC (REGISTERED NUMBER: SC042842)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Lanarkshire Ice Rink plc is a private company , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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" and the Companies Act 2006. There were no material departures from the standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis.

Turnover
Turnover is derived from management fee income and rental income.

Turnover therefore represents the income from these sources, net of discounts and excluding value added tax, and is recognised at the point that these goods and services are supplied.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Improvements to property - 10% on cost
Plant and machinery - 15% on reducing balance and 10% on reducing balance
Fixtures and fittings - 10% on reducing balance

Tangible fixed assets held for the companies own use are stated at cost less accumulated depreciation and accumulated impairment loss.

At each balance sheet date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Expenditure of £1,000 or more on individual tangible fixed assets is capitalised at cost. Expenditure on assets below this threshold is charged directly to the profit and loss account in the period it is incurred.

LANARKSHIRE ICE RINK PLC (REGISTERED NUMBER: SC042842)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
Classification of financial liabilities.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.


LANARKSHIRE ICE RINK PLC (REGISTERED NUMBER: SC042842)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

4. TURNOVER

The turnover and loss before taxation are attributable to the one principal activity of the company.

5. OTHER OPERATING INCOME
2024 2023
£    £   
Sundry receipts 20,353 12,225

6. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 19,004 19,215
Other pension costs 2,798 2,617
21,802 21,832

The average number of employees during the year was as follows:
2024 2023

Office and management 1 1

2024 2023
£    £   
Directors' remuneration - -

LANARKSHIRE ICE RINK PLC (REGISTERED NUMBER: SC042842)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. OPERATING LOSS

The operating loss is stated after charging:

2024 2023
£    £   
Depreciation - owned assets 30,836 33,502
Auditors remuneration 4,000 3,500

8. TAXATION

Analysis of the tax charge
No liability to UK corporation tax arose for the year ended 31 March 2024 nor for the year ended 31 March 2023.

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Loss before tax (11,771 ) (18,931 )
Loss multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 19%)

(2,943

)

(3,597

)

Effects of:
ranking for capital allowances
Depreciation on assets not ranking for capital allowances 2,333 1,774

Additional deferred tax not provided 610 1,823
trading losses
Total tax charge - -

The company has unutilised tax losses of £271,892 available to carry forward and offset against future profits.

LANARKSHIRE ICE RINK PLC (REGISTERED NUMBER: SC042842)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

9. TANGIBLE FIXED ASSETS
Improvements Fixtures
Freehold to Plant and and
property property machinery fittings Totals
£    £    £    £    £   
COST
At 1 April 2023
and 31 March 2024 466,846 89,250 433,153 58,654 1,047,903
DEPRECIATION
At 1 April 2023 224,087 50,699 299,200 50,844 624,830
Charge for year 9,337 6,162 14,556 781 30,836
At 31 March 2024 233,424 56,861 313,756 51,625 655,666
NET BOOK VALUE
At 31 March 2024 233,422 32,389 119,397 7,029 392,237
At 31 March 2023 242,759 38,551 133,953 7,810 423,073

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 156,241 335,452
Sundry debtors 16,606 4,994
Ice rink clubs 44,328 50,103
Prepayments 30,985 17,144
248,160 407,693

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 33,031 16,880
Social security and other taxes 5,169 3,246
VAT 21,709 24,707
Other creditors 16,965 6,437
Unclaimed dividends 59 59
Loan from curling clubs 14,146 14,146
Ice rink clubs 225,806 411,656
Accrued expenses 24,666 28,963
341,551 506,094

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
802 Ordinary £250 200,500 200,500

LANARKSHIRE ICE RINK PLC (REGISTERED NUMBER: SC042842)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

13. RESERVES
Retained
earnings
£   

At 1 April 2023 136,916
Deficit for the year (11,771 )
At 31 March 2024 125,145