COMPANY REGISTRATION NUMBER:
SC248245
Filleted Financial Statements |
|
Statement of Financial Position |
|
31 December 2023
Current assets
Stocks |
17,169 |
15,871 |
Cash at bank and in hand |
27,189 |
8,780 |
|
-------- |
-------- |
|
44,358 |
24,651 |
|
|
|
Creditors: amounts falling due within one year |
4 |
38,040 |
18,333 |
|
-------- |
-------- |
Net current assets |
6,318 |
6,318 |
|
------- |
------- |
Total assets less current liabilities |
6,318 |
6,318 |
|
------- |
------- |
Net assets |
6,318 |
6,318 |
|
------- |
------- |
|
|
|
|
Capital and reserves
Called up share capital |
2 |
2 |
Profit and loss account |
6,316 |
6,316 |
|
------- |
------- |
Members funds |
6,318 |
6,318 |
|
------- |
------- |
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements were approved by the
board of directors
and authorised for issue on
16 September 2024
, and are signed on behalf of the board by:
Company registration number:
SC248245
Notes to the Financial Statements |
|
Year ended 31 December 2023
1.
General information
The company is a private company limited by shares, registered and incorporated in Scotland. The address of the registered office is National Christian Outreach Centre, Riggs Road, Perth, PH1 1PR.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4.
Creditors:
amounts falling due within one year
|
2023 |
2022 |
|
£ |
£ |
Trade creditors |
9,884 |
10,800 |
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
26,356 |
5,733 |
Other creditors |
1,800 |
1,800 |
|
-------- |
-------- |
|
38,040 |
18,333 |
|
-------- |
-------- |
|
|
|
5.
Summary audit opinion
The auditor's report dated
16 September 2024
was
unqualified
.
The senior statutory auditor was
Andrew B Wilson
, for and on behalf of
Nelson Gilmour Smith
.
6.
Related party transactions
The company is a 100% subsidiary of
People With A Mission Ministries
("PWAMM"), a company limited by guarantee (Company number: SC242628) and which is recognised as a Charity in Scotland by OSCR and by HMRC (Charity number: SC014546). During the year the company paid management charges of £ 136,874
(2022: £ 121,014
) to PWAMM. The company also made £152,389 (2022: £92,352) of charitable donations to PWAMM during the year. At the year end the company owed £ 26,356
(2022: £ 5,733
) to PWAMM.
7.
Ethical standards
APB ethical standards
In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.
8.
Controlling party
The company is a 100% subsidiary of
People With A Mission Ministries
, a company limited by guarantee (Company number: SC242628) which is recognised as a Charity in Scotland by OSCR and by HM Revenue and Customs (Charity number: SC014546).