Silverfin false false 31/03/2024 01/04/2023 31/03/2024 I M Chapman 01/06/2020 J Creane-Smith 13/02/2024 Ms G Cruickshank 11/10/2022 L Farley 10/06/2022 S Fotheringham 08/09/2023 E Green 07/09/2023 O J Lyon 20/11/2023 S G Marshall 14/07/2023 12/05/2020 A Mcowan 23/02/2024 20/11/2023 N Raffle 08/03/2024 22/06/2022 C A Ronald 02/04/2024 16/07/2020 E I Tennant 11/05/2020 18 October 2024 The principle activity of the company is that of handling the Moray Tourism Business Improvement District (BID) and attracting tourists to the region of Moray and Speyside. SC578793 2024-03-31 SC578793 bus:Director1 2024-03-31 SC578793 bus:Director2 2024-03-31 SC578793 bus:Director3 2024-03-31 SC578793 bus:Director4 2024-03-31 SC578793 bus:Director5 2024-03-31 SC578793 bus:Director6 2024-03-31 SC578793 bus:Director7 2024-03-31 SC578793 bus:Director8 2024-03-31 SC578793 bus:Director9 2024-03-31 SC578793 bus:Director10 2024-03-31 SC578793 bus:Director11 2024-03-31 SC578793 bus:Director12 2024-03-31 SC578793 2023-03-31 SC578793 core:CurrentFinancialInstruments 2024-03-31 SC578793 core:CurrentFinancialInstruments 2023-03-31 SC578793 core:ShareCapital 2024-03-31 SC578793 core:ShareCapital 2023-03-31 SC578793 core:RetainedEarningsAccumulatedLosses 2024-03-31 SC578793 core:RetainedEarningsAccumulatedLosses 2023-03-31 SC578793 core:OtherPropertyPlantEquipment 2023-03-31 SC578793 core:OtherPropertyPlantEquipment 2024-03-31 SC578793 2023-04-01 2024-03-31 SC578793 bus:FilletedAccounts 2023-04-01 2024-03-31 SC578793 bus:SmallEntities 2023-04-01 2024-03-31 SC578793 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 SC578793 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC578793 bus:Director1 2023-04-01 2024-03-31 SC578793 bus:Director2 2023-04-01 2024-03-31 SC578793 bus:Director3 2023-04-01 2024-03-31 SC578793 bus:Director4 2023-04-01 2024-03-31 SC578793 bus:Director5 2023-04-01 2024-03-31 SC578793 bus:Director6 2023-04-01 2024-03-31 SC578793 bus:Director7 2023-04-01 2024-03-31 SC578793 bus:Director8 2023-04-01 2024-03-31 SC578793 bus:Director9 2023-04-01 2024-03-31 SC578793 bus:Director10 2023-04-01 2024-03-31 SC578793 bus:Director11 2023-04-01 2024-03-31 SC578793 bus:Director12 2023-04-01 2024-03-31 SC578793 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 SC578793 core:OtherPropertyPlantEquipment core:TopRangeValue 2023-04-01 2024-03-31 SC578793 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Company No: SC578793 (Scotland)

VISIT MORAY & SPEYSIDE LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH THE REGISTRAR

VISIT MORAY & SPEYSIDE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024

Contents

VISIT MORAY & SPEYSIDE LIMITED

BALANCE SHEET

AS AT 31 MARCH 2024
VISIT MORAY & SPEYSIDE LIMITED

BALANCE SHEET (continued)

AS AT 31 MARCH 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 498 1,218
498 1,218
Current assets
Debtors 4 61,871 56,540
Cash at bank and in hand 204,677 97,622
266,548 154,162
Creditors: amounts falling due within one year 5 ( 10,613) ( 5,141)
Net current assets 255,935 149,021
Total assets less current liabilities 256,433 150,239
Net assets 256,433 150,239
Capital and reserves
Called-up share capital 0 0
Profit and loss account 256,433 150,239
Total shareholders' funds 256,433 150,239

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Visit Moray & Speyside Limited (registered number: SC578793) were approved and authorised for issue by the Board of Directors on 18 October 2024. They were signed on its behalf by:

Ms G Cruickshank
Director
VISIT MORAY & SPEYSIDE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
VISIT MORAY & SPEYSIDE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Visit Moray & Speyside Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Old Station The Old Station, Maisondieu Road, Elgin, IV30 1RH, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

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

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 25 % reducing balance
3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors are recognised at transaction price.

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.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 12 8

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 April 2023 3,494 3,494
At 31 March 2024 3,494 3,494
Accumulated depreciation
At 01 April 2023 2,276 2,276
Charge for the financial year 720 720
At 31 March 2024 2,996 2,996
Net book value
At 31 March 2024 498 498
At 31 March 2023 1,218 1,218

4. Debtors

2024 2023
£ £
Trade debtors 48,148 40,790
Other debtors 13,723 15,750
61,871 56,540

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 15 43
Taxation and social security 2,959 28
Other creditors 7,639 5,070
10,613 5,141

6. 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.