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Registration number: SC311798

The Mining Institute of Scotland

(A company limited by guarantee)

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

The Mining Institute of Scotland

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 5

 

The Mining Institute of Scotland

Company Information

Directors

Mr I Purdie

Mr W S Petrie

Mr MT Friel

Mr JRW Latimer

Mr Robert Alan Laird

Mr Alex James Crossland

Company secretary

Mr Angus MacGregor

Registered office





Registered number

Citypoint
65 Haymarket Terrace
Edinburgh
Lothian
EH12 5HD

SC311798

Solicitors

Harper Macleod LLP
Citypoint
65 Haymarket Terrace
Edinburgh
Lothian
EH12 5HD

Accountants

Brown, Scott & Main
Chartered Accountants
91 West Savile Terrace
Edinburgh
Lothian
EH9 3DP

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
The Mining Institute of Scotland
for the Year Ended 30 June 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Mining Institute of Scotland for the year ended 30 June 2024 as set out on pages 3 to 5 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants of Scotland, we are subject to its ethical and other professional requirements which are detailed at www.icas.com/accountspreparationguidance

This report is made solely to you, in accordance with the terms of our engagement. . Our work has been undertaken solely to prepare for your approval the financial information of The Mining Institute of Scotland and state those matters that we have agreed to state to you in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company for our work or for this report.

It is your duty to ensure that The Mining Institute of Scotland has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of The Mining Institute of Scotland. You consider that The Mining Institute of Scotland is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of The Mining Institute of Scotland. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Brown, Scott & Main
Chartered Accountants
91 West Savile Terrace
Edinburgh
Lothian
EH9 3DP

20 September 2024

 

The Mining Institute of Scotland

(Registration number: SC311798)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Current assets

 

Stock

4

72

143

Debtors

5

1,036

-

Cash at bank and in hand

 

7,344

8,723

 

8,452

8,866

Creditors: Amounts falling due within one year

6

(575)

(538)

Net assets

 

7,877

8,328

Reserves

 

Other reserves

6,627

6,627

Retained earnings

1,250

1,701

Surplus

 

7,877

8,328

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 4 September 2024 and signed on its behalf by:
 

.........................................
Mr I Purdie
Director

 

The Mining Institute of Scotland

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by guarantee, incorporated in Scotland.

The address of its registered office is:
Citypoint
65 Haymarket Terrace
Edinburgh
Lothian
EH12 5HD
Scotland

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The presentation currency is sterling.

Revenue recognition

Turnover represents the total value of the revenue earned during the year from professional services, sale of publications, grants and donations.

Going concern

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

Stock

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items and comprise books and publications for distribution and sale.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2023 - 1).

4

Stock

2024
£

2023
£

Publications

72

143

5

Debtors

Current

2024
£

2023
£

Other debtors

1,036

-

 

1,036

-

 

The Mining Institute of Scotland

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Accruals and deferred income

575

538

The company is a company limited by guarantee without a share capital. In the event of the company being wound up the liability of each member is restricted to £1.