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REGISTERED NUMBER: SC342965 (Scotland)




















Fringe By The Sea Limited

Unaudited Financial Statements

for the Year Ended 31 October 2024






Fringe By The Sea Limited (Registered number: SC342965)






Contents of the Financial Statements
for the Year Ended 31 October 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Fringe By The Sea Limited

Company Information
for the Year Ended 31 October 2024







DIRECTOR: R D Steel



REGISTERED OFFICE: The Lighthouse
Heugh Road
North Berwick
EH39 5PX



REGISTERED NUMBER: SC342965 (Scotland)



ACCOUNTANTS: Whitelaw Wells
The Lighthouse
Heugh Road
North Berwick
EH39 5PX



BANKERS: TSB Bank plc
Henry Duncan House
120 George Street
Edinburgh
EH2 4LH

Fringe By The Sea Limited (Registered number: SC342965)

Balance Sheet
31 October 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 1,913 3,063

CURRENT ASSETS
Stocks 5,000 5,000
Debtors 5 7,504 168
Cash at bank 10,229 10,082
22,733 15,250
CREDITORS
Amounts falling due within one year 6 50,285 43,073
NET CURRENT LIABILITIES (27,552 ) (27,823 )
TOTAL ASSETS LESS CURRENT LIABILITIES (25,639 ) (24,760 )

CREDITORS
Amounts falling due after more than one
year

7

27,766

33,260
NET LIABILITIES (53,405 ) (58,020 )

RESERVES
Income and expenditure account (53,405 ) (58,020 )
(53,405 ) (58,020 )

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

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

The director acknowledges his 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.

Fringe By The Sea Limited (Registered number: SC342965)

Balance Sheet - continued
31 October 2024


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 14 May 2025 and were signed by:





R D Steel - Director


Fringe By The Sea Limited (Registered number: SC342965)

Notes to the Financial Statements
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

Fringe By The Sea Limited 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.

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.

Turnover and revenue recognition
Turnover represents ticket sales, grants, sponsorship, advertising and pitch fees from events held during the festival. All event revenue is recognised in the month the event takes place.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

All loans with related parties are all repayable on demand.

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

Fringe By The Sea Limited (Registered number: SC342965)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

2. ACCOUNTING POLICIES - continued

Going concern
At 31 October 2024 the company had net liabilities of £53,095 (2023: £58,020). The company is dependent on its support to meet bank loan repayments and ongoing support from the director. The director is confident that liabilities can continue to be met as they fall due and the accounts have therefore been prepared on a going concern basis.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2023
and 31 October 2024 13,923
DEPRECIATION
At 1 November 2023 10,860
Charge for year 1,150
At 31 October 2024 12,010
NET BOOK VALUE
At 31 October 2024 1,913
At 31 October 2023 3,063

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 7,504 168

Fringe By The Sea Limited (Registered number: SC342965)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 6,490 6,490
Trade creditors 15,409 7,921
Taxation and social security 24,627 22,168
Other creditors 3,759 6,494
50,285 43,073

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 27,766 33,260

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years 1,805 7,299

8. RELATED PARTY DISCLOSURES

During the year, Fringe By The Sea Limited received and repaid advances of £24,000 to related companies (2023: £18,000). The company bought goods and services on normal commercial terms from a related company of £36,000 in 2024 (2023: £22,785 plus VAT).

9. LIMITED BY GUARANTEE

The company is limited by guarantee and therefore has no share capital. The liability of the members upon winding up the company is limited to £1 each.