1 April 2023 false No description of principal activity Taxfiler 2024.6 SC425767business:PrivateLimitedCompanyLtd2023-04-012024-03-31 SC4257672023-03-31 SC4257672023-04-012024-03-31 SC425767business:AuditExempt-NoAccountantsReport2023-04-012024-03-31 SC425767business:FilletedAccounts2023-04-012024-03-31 SC4257672024-03-31 SC425767business:Director12023-04-012024-03-31 SC425767business:Director22023-04-012024-03-31 SC425767business:RegisteredOffice2023-04-012024-03-31 SC4257672023-03-31 SC425767core:WithinOneYear2024-03-31 SC425767core:WithinOneYear2023-03-31 SC425767core:AfterOneYear2024-03-31 SC425767core:AfterOneYear2023-03-31 SC425767core:ShareCapitalcore:PreviouslyStatedAmount2024-03-31 SC425767core:ShareCapitalcore:PreviouslyStatedAmount2023-03-31 SC425767core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-03-31 SC425767core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-03-31 SC425767core:PreviouslyStatedAmount2024-03-31 SC425767core:PreviouslyStatedAmount2023-03-31 SC425767business:SmallEntities2023-04-012024-03-31 SC425767countries:Scotland2023-04-012024-03-31 SC425767core:LandBuildings2023-04-012024-03-31 SC425767core:MotorVehicles2023-04-012024-03-31 SC425767core:FurnitureFittings2023-04-012024-03-31 SC425767core:ComputerEquipment2023-04-012024-03-31 SC425767core:Goodwill2023-03-31 SC425767core:Goodwill2024-03-31 SC425767core:PlantMachinery2023-03-31 SC425767core:MotorVehicles2023-03-31 SC425767core:FurnitureFittings2023-03-31 SC425767core:ComputerEquipment2023-03-31 SC425767core:PlantMachinery2024-03-31 SC425767core:MotorVehicles2024-03-31 SC425767core:FurnitureFittings2024-03-31 SC425767core:ComputerEquipment2024-03-31 SC425767core:PlantMachinery2023-04-012024-03-31 SC4257672022-04-012023-03-31 iso4217:GBP xbrli:pure
Company Registration No. SC425767 (Scotland)
Museum Context Limited Unaudited accounts for the year ended 31 March 2024
Museum Context Limited Unaudited accounts Contents
Page
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Museum Context Limited Company Information for the year ended 31 March 2024
Directors
Andrew Alexander McRae Alice McRae
Company Number
SC425767 (Scotland)
Registered Office
40 Victoria Street Edinburgh EH1 2JW Scotland
Accountants
Braes Accountancy Limited Ironworks Business Centre Castlelaurie Industrial Estate Falkirk Stirlingshire FK2 7XE
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Museum Context Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
58,215 
73,912 
Current assets
Inventories
57,860 
67,984 
Debtors
151,382 
518,285 
Cash at bank and in hand
456,441 
48,919 
665,683 
635,188 
Creditors: amounts falling due within one year
(242,806)
(196,251)
Net current assets
422,877 
438,937 
Total assets less current liabilities
481,092 
512,849 
Creditors: amounts falling due after more than one year
(87,860)
(117,219)
Net assets
393,232 
395,630 
Capital and reserves
Called up share capital
300,000 
300,000 
Profit and loss account
93,232 
95,630 
Shareholders' funds
393,232 
395,630 
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 18 December 2024 and were signed on its behalf by
Andrew Alexander McRae Director Company Registration No. SC425767
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Museum Context Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Museum Context Limited is a private company, limited by shares, registered in Scotland, registration number SC425767. The registered office is 40 Victoria Street, Edinburgh, EH1 2JW, Scotland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
35% Reducing Balance
Motor vehicles
25% Reducing Balance
Fixtures & fittings
10% Reducing Balance
Computer equipment
33% Reducing Balance
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 April 2023
286,111 
At 31 March 2024
286,111 
Amortisation
At 1 April 2023
286,111 
At 31 March 2024
286,111 
Net book value
At 31 March 2024
- 
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Museum Context Limited Notes to the Accounts for the year ended 31 March 2024
5
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 April 2023
13,955 
68,500 
19,744 
6,068 
108,267 
At 31 March 2024
13,955 
68,500 
19,744 
6,068 
108,267 
Depreciation
At 1 April 2023
8,396 
9,330 
14,805 
1,824 
34,355 
Charge for the year
1,167 
13,704 
623 
203 
15,697 
At 31 March 2024
9,563 
23,034 
15,428 
2,027 
50,052 
Net book value
At 31 March 2024
4,392 
45,466 
4,316 
4,041 
58,215 
At 31 March 2023
5,559 
59,170 
4,939 
4,244 
73,912 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Other debtors
26,301 
23,409 
Amounts falling due after more than one year
Amounts due from group undertakings etc.
70,800 
134,033 
Accrued income and prepayments
1,503 
1,503 
Other debtors
52,778 
359,340 
125,081 
494,876 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
38,190 
35,795 
Obligations under finance leases and hire purchase contracts
5,000 
5,000 
Trade creditors
13,334 
13,334 
Amounts owed to group undertakings and other participating interests
17,263 
15,031 
Taxes and social security
1,667 
21,559 
Other creditors
160,000 
100,000 
Loans from directors
1,820 
- 
Accruals
5,532 
5,532 
242,806 
196,251 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
87,860 
117,219 
9
Average number of employees
During the year the average number of employees was 7 (2023: 7).
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