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REGISTERED NUMBER: SC153812 (Scotland)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

ASSOCIATION OF SCOTTISH VISITOR
ATTRACTIONS
COMPANY LIMITED BY GUARANTEE

ASSOCIATION OF SCOTTISH VISITOR
ATTRACTIONS (REGISTERED NUMBER: SC153812)
COMPANY LIMITED BY GUARANTEE






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ASSOCIATION OF SCOTTISH VISITOR
ATTRACTIONS
COMPANY LIMITED BY GUARANTEE

COMPANY INFORMATION
for the year ended 31 March 2024







DIRECTORS: Mr P Nixon (Chair)
Mrs S P Rae
Mrs J A Rae
Mr P Rubie
Ms G MacDonald
Mrs J Schofield
Ms V Hollows
Mr I K Hawkins
Miss E Flett
Mr R McMillan
Mrs A A Harvie
Ms C J Eva





REGISTERED OFFICE: 3E Wallace House
Maxwell Place
Stirling
FK8 1JU





REGISTERED NUMBER: SC153812 (Scotland)





ACCOUNTANTS: Haines Watts
Business Advisors and Accountants
Q Court
3 Quality Street
Edinburgh
EH4 5BP

ASSOCIATION OF SCOTTISH VISITOR
ATTRACTIONS (REGISTERED NUMBER: SC153812)
COMPANY LIMITED BY GUARANTEE

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3,170 5,541
Tangible assets 5 2,149 2,494
5,319 8,035

CURRENT ASSETS
Debtors 6 106,363 89,304
Cash at bank 260,392 238,139
366,755 327,443
CREDITORS: AMOUNTS FALLING
DUE WITHIN ONE YEAR

7

234,685

202,705
NET CURRENT ASSETS 132,070 124,738
TOTAL ASSETS LESS CURRENT
LIABILITIES

137,389

132,773

PROVISIONS FOR LIABILITIES 8 408 474
NET ASSETS 136,981 132,299

RESERVES
Income and expenditure account 136,981 132,299
MEMBERS' FUNDS 136,981 132,299

ASSOCIATION OF SCOTTISH VISITOR
ATTRACTIONS (REGISTERED NUMBER: SC153812)
COMPANY LIMITED BY GUARANTEE

BALANCE SHEET - continued
31 March 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 July 2024 and were signed on its behalf by:





Mr P Nixon (Chair) - Director


ASSOCIATION OF SCOTTISH VISITOR
ATTRACTIONS (REGISTERED NUMBER: SC153812)
COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Association of Scottish Visitor Attractions is a private company, limited by guarantee , 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. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

INCOME
Income relates to amounts invoiced for development services and membership fees. Credit is taken for fees relating to the current year, those paid in advance are treated as such and adjusted as a current liability in the balance sheet. An adjustment has been made to income to account for VAT at the standard rate.

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 25% per annum reducing balance

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

ASSOCIATION OF SCOTTISH VISITOR
ATTRACTIONS (REGISTERED NUMBER: SC153812)
COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the income and expenditure account.

ASSOCIATION OF SCOTTISH VISITOR
ATTRACTIONS (REGISTERED NUMBER: SC153812)
COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 April 2023
and 31 March 2024 11,856
AMORTISATION
At 1 April 2023 6,315
Amortisation for year 2,371
At 31 March 2024 8,686
NET BOOK VALUE
At 31 March 2024 3,170
At 31 March 2023 5,541

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 April 2023 6,566
Additions 1,465
Disposals (4,298 )
At 31 March 2024 3,733
DEPRECIATION
At 1 April 2023 4,072
Charge for year 436
Eliminated on disposal (2,924 )
At 31 March 2024 1,584
NET BOOK VALUE
At 31 March 2024 2,149
At 31 March 2023 2,494

ASSOCIATION OF SCOTTISH VISITOR
ATTRACTIONS (REGISTERED NUMBER: SC153812)
COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 102,151 84,376
Other debtors 4,212 4,928
106,363 89,304

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 31,449 8,858
Corporation tax 2,254 556
PAYE 6,150 2,375
VAT 28,038 14,106
Deferred income 164,681 176,126
Pension Fund 2,113 684
234,685 202,705

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 408 474

Deferred
tax
£   
Balance at 1 April 2023 474
Credit to Statement of Income and Retained Earnings during year (66 )
Balance at 31 March 2024 408

9. LIMITED BY GUARANTEE

The Association of Scottish Visitor Attractions is a company limited by guarantee of its members and does not have share capital. Each member has undertaken to contribute an amount not exceeding one pound towards any deficit arising in the event of the company being wound up.