Company Registration No. SC425767 (Scotland)
Museum Context Limited
Unaudited accounts
for the year ended 31 March 2024
Museum Context Limited
Unaudited accounts
Contents
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
Museum Context Limited
Statement of financial position
as at 31 March 2024
Tangible assets
58,215
73,912
Cash at bank and in hand
456,441
48,919
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
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
Museum Context Limited
Notes to the Accounts
for the year ended 31 March 2024
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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 (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Goodwill
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
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
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
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
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Creditors: amounts falling due within one year
2024
2023
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
-
8
Creditors: amounts falling due after more than one year
2024
2023
9
Average number of employees
During the year the average number of employees was 7 (2023: 7).