Company registration number SC209844 (Scotland)
SCOTLANDIS
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
SCOTLANDIS
COMPANY INFORMATION
Directors
Ms L Casci
Ms G Galloway
Ms S Hamilton
Ms K Meechan
Mr G Morison
Mr D Murray
Ms L Murray
Mr C Sinclair
Mr A Williams
Mrs R Barrance
Mr R Keenan
(Appointed 1 August 2023)
Mrs M Morrison
Mr D Stubley
(Appointed 1 September 2024)
Company number
SC209844
Registered office
Oracle Campus
Blackness Road
Springfield
Linlithgow
EH49 7LR
Auditor
Thomson Cooper
3 Castle Court
Carnegie Campus
Dunfermline
Fife
KY11 8PB
SCOTLANDIS
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
SCOTLANDIS
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,592
1,124
Current assets
Debtors
4
52,206
135,460
Cash at bank and in hand
306,045
250,620
358,251
386,080
Creditors: amounts falling due within one year
5
(197,934)
(245,721)
Net current assets
160,317
140,359
Total assets less current liabilities
162,909
141,483
Creditors: amounts falling due after more than one year
6
(15,000)
(25,000)
Net assets
147,909
116,483
Reserves
Income and expenditure account
147,909
116,483
Members' funds
147,909
116,483

The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 20 September 2024 and are signed on its behalf by:
Mr D Murray
Director
Company Registration No. SC209844
SCOTLANDIS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

ScotlandIS is a private company limited by guarantee incorporated in Scotland. The registered office is Oracle Campus, Blackness Road, Springfield, Linlithgow, EH49 7LR.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors have considered a period of 12 months from the date of approval of the financial statements. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements. true

1.3
Turnover

Turnover represents amounts receivable from grant funding, membership subscriptions, sponsorship, and proceeds from conferences and events. All amounts are recognised when receivable and takes account of any amounts requiring to be deferred.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
between 20% and 50% straight line
Computer equipment
50% straight line
1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
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.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

SCOTLANDIS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
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.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans, 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.

1.7
Current Tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received, where considered material.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.10
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.11
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

SCOTLANDIS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
10
10
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023
7,900
Additions
3,833
At 31 December 2023
11,733
Depreciation and impairment
At 1 January 2023
6,776
Depreciation charged in the year
2,365
At 31 December 2023
9,141
Carrying amount
At 31 December 2023
2,592
At 31 December 2022
1,124
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
22,450
75,547
Other debtors
29,756
59,913
52,206
135,460
SCOTLANDIS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
10,000
10,000
Trade creditors
20,095
36,162
Corporation tax
7,628
13,513
Other taxation and social security
11,039
9,864
Income in advance
128,617
126,713
Accruals
20,555
49,469
197,934
245,721
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans
15,000
25,000
7
Members' liability

The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.

8
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

The senior statutory auditor was Andrew Croxford.
The auditor was Thomson Cooper.
9
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
13,687
13,687
2023-12-312023-01-01false20 September 2024CCH SoftwareCCH Accounts Production 2024.200No description of principal activityThis audit opinion is unqualifiedMs F SneddonMs A McLaughlinMs L CasciMs G GallowayMs S HamiltonMs K MeechanMr G MorisonMr D MurrayMs L MurrayMr C SinclairMs A WiddopMr A WilliamsMrs R BarranceMr R KeenanMrs M MorrisonMr D StubleyfalsefalseSC2098442023-01-012023-12-31SC209844bus:Director32023-01-012023-12-31SC209844bus:Director42023-01-012023-12-31SC209844bus:Director52023-01-012023-12-31SC209844bus:Director62023-01-012023-12-31SC209844bus:Director72023-01-012023-12-31SC209844bus:Director82023-01-012023-12-31SC209844bus:Director92023-01-012023-12-31SC209844bus:Director102023-01-012023-12-31SC209844bus:Director122023-01-012023-12-31SC209844bus:Director132023-01-012023-12-31SC209844bus:Director142023-01-012023-12-31SC209844bus:Director152023-01-012023-12-31SC209844bus:Director162023-01-012023-12-31SC209844bus:Director12023-01-012023-12-31SC209844bus:Director22023-01-012023-12-31SC209844bus:Director112023-01-012023-12-31SC209844bus:RegisteredOffice2023-01-012023-12-31SC2098442023-12-31SC2098442022-12-31SC209844core:OtherPropertyPlantEquipment2023-12-31SC209844core:OtherPropertyPlantEquipment2022-12-31SC209844core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-31SC209844core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-31SC209844core:Non-currentFinancialInstrumentscore:AfterOneYear2023-12-31SC209844core:Non-currentFinancialInstrumentscore:AfterOneYear2022-12-31SC209844core:CurrentFinancialInstruments2023-12-31SC209844core:CurrentFinancialInstruments2022-12-31SC209844core:RetainedEarningsAccumulatedLosses2023-12-31SC209844core:RetainedEarningsAccumulatedLosses2022-12-31SC209844core:FurnitureFittings2023-01-012023-12-31SC209844core:ComputerEquipment2023-01-012023-12-31SC2098442022-01-012022-12-31SC209844core:OtherPropertyPlantEquipment2022-12-31SC209844core:OtherPropertyPlantEquipment2023-01-012023-12-31SC209844core:WithinOneYear2023-12-31SC209844core:WithinOneYear2022-12-31SC209844core:CurrentFinancialInstruments12023-12-31SC209844core:CurrentFinancialInstruments12022-12-31SC209844core:Non-currentFinancialInstruments2023-12-31SC209844core:Non-currentFinancialInstruments2022-12-31SC209844bus:CompanyLimitedByGuarantee2023-01-012023-12-31SC209844bus:SmallCompaniesRegimeForAccounts2023-01-012023-12-31SC209844bus:FRS1022023-01-012023-12-31SC209844bus:Audited2023-01-012023-12-31SC209844bus:FullAccounts2023-01-012023-12-31xbrli:purexbrli:sharesiso4217:GBP