2
false
false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
false
No description of principal activity
2023-10-01
Sage Accounts Production Advanced 2024 - FRS102_2024
13,140
13,140
1,382
516
1,898
1,209
302
1,511
387
173
xbrli:pure
xbrli:shares
iso4217:GBP
SC606595
2023-10-01
2024-09-30
SC606595
2024-09-30
SC606595
2023-09-30
SC606595
2022-10-01
2023-09-30
SC606595
2023-09-30
SC606595
2022-09-30
SC606595
bus:Director16
2023-10-01
2024-09-30
SC606595
core:WithinOneYear
2024-09-30
SC606595
core:WithinOneYear
2023-09-30
SC606595
core:RetainedEarningsAccumulatedLosses
2024-09-30
SC606595
core:RetainedEarningsAccumulatedLosses
2023-09-30
SC606595
bus:Director1
2023-10-01
2024-09-30
SC606595
bus:SmallEntities
2023-10-01
2024-09-30
SC606595
bus:AuditExemptWithAccountantsReport
2023-10-01
2024-09-30
SC606595
bus:SmallCompaniesRegimeForAccounts
2023-10-01
2024-09-30
SC606595
bus:CompanyLimitedByGuarantee
2023-10-01
2024-09-30
SC606595
bus:FullAccounts
2023-10-01
2024-09-30
SC606595
core:FurnitureFittingsToolsEquipment
2023-10-01
2024-09-30
SC606595
core:BrandNames
2024-09-30
SC606595
core:FurnitureFittingsToolsEquipment
2023-09-30
SC606595
core:FurnitureFittingsToolsEquipment
2024-09-30
COMPANY REGISTRATION NUMBER:
SC606595
|
Company Limited by Guarantee |
|
|
Filleted Unaudited Financial Statements |
|
|
Company Limited by Guarantee |
|
Year ended 30 September 2024
|
Statement of financial position |
1 to 2 |
|
|
|
Notes to the financial statements |
3 to 6 |
|
|
|
Company Limited by Guarantee |
|
|
Statement of Financial Position |
|
30 September 2024
Fixed assets
|
Tangible assets |
7 |
387 |
173 |
|
|
|
|
Current assets
|
Debtors |
8 |
5,108 |
8,404 |
|
Cash at bank and in hand |
14,716 |
89,980 |
|
-------- |
-------- |
|
19,824 |
98,384 |
|
|
|
|
|
Creditors: amounts falling due within one year |
9 |
7,650 |
107,465 |
|
-------- |
--------- |
|
Net current assets/(liabilities) |
12,174 |
(
9,081) |
|
-------- |
------- |
|
Total assets less current liabilities |
12,561 |
(
8,908) |
|
-------- |
------- |
|
Net assets/(liabilities) |
12,561 |
(
8,908) |
|
-------- |
------- |
|
|
|
|
Capital and reserves
|
Profit and loss account |
12,561 |
(
8,908) |
|
-------- |
------- |
|
Members funds/(deficit) |
12,561 |
(
8,908) |
|
-------- |
------- |
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
|
Company Limited by Guarantee |
|
|
Statement of Financial Position (continued) |
|
30 September 2024
These financial statements were approved by the
board of directors
and authorised for issue on
16 April 2025
, and are signed on behalf of the board by:
|
Company Limited by Guarantee |
|
|
Notes to the Financial Statements |
|
Year ended 30 September 2024
1.
General information
The company is a private company limited by guarantee, registered in Scotland. The address of the registered office is Nairn Community and Arts Centre, King Street, Nairn, IV12 4BQ, Scotland.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements are prepared in sterling, which is the functional currency of the company
. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.
Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.
Impairment of financial assets
Financial assets are assessed for indicators of impairment at each reporting end date.
Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price and are subsequently carried at amortised cost, using the effective interest method. Financial liabilities classified as payable within one year are not amortised.
Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled.
Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.
Going concern
BID levy-payers are required by statute to pay levy annually during the term of the BID. The directors are therefore confident that there will be adequate income to meet the company's future needs, and these financial statements have been prepared on the going concern basis.
Expenditure
Expenditure is recognised on an accrual basis and is recognised when there is a legal or constructive obligation to pay, when it is probable that a transfer of economic benefits will arise and when the amount can be measured reliably.
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense in the period in which the employee's services are received.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services.
Retirement benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in a separately administered fund. The amount charged to the Profit and Loss Account represents the contributions payable to the scheme in respect of the accounting period.
Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturities of three months or less.
Members liability
Every member of the Company undertakes to contribute such amount as may be required (not exceeding £1) to the Company's assets if it should be wound up while he is a member or within one year after he ceases to be a member for payment of the Company's debts and liabilities contracted before he ceases to be a member and of the cost, charges and expenses of winding up and for the adjustment of the rights of the contributories among themselves.
Turnover
Turnover represents income receivable for levies in respect of the year together with grants and other income receivable for the period.
Intangible assets
The company policy for intangible fixed assets is to capitalise all items irrespective of their value. Amortisation of intangible assets is recognised so as to write off the cost of assets less their residual values over the five year term of the Business Improvement District or part thereof on the following bases: Intellectual property 3 years on cost
Tangible assets
The company policy for tangible fixed assets is not to capitalise any items below the value of £500.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Equipment |
- |
25% straight line |
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4.
Company limited by guarantee
Every member of the Company undertakes to contribute such amount as may be required (not exceeding £1) to the Company's assets if it should be wound up while he is a member or within one year after he ceases to be a member for payment of the Company's debts and liabilities contracted before he ceases to be a member and of the cost, charges and expenses of winding up and for the adjustment of the rights of the contributories among themselves.
5.
Employee numbers
The average number of persons employed by the company during the year amounted to
2
(2023:
2
).
The company operates a defined contribution pension scheme. The pension cost charge for the period represents contributions payable by the company to the scheme.
6.
Intangible assets
|
Intellectual property |
|
£ |
|
Cost |
|
|
At 1 October 2023 and 30 September 2024 |
13,140 |
|
-------- |
|
Amortisation |
|
|
At 1 October 2023 and 30 September 2024 |
13,140 |
|
-------- |
|
Carrying amount |
|
|
At 30 September 2024 |
– |
|
-------- |
|
At 30 September 2023 |
– |
|
-------- |
|
|
7.
Tangible assets
|
Equipment |
|
£ |
|
Cost |
|
|
At 1 October 2023 |
1,382 |
|
Additions |
516 |
|
------- |
|
At 30 September 2024 |
1,898 |
|
------- |
|
Depreciation |
|
|
At 1 October 2023 |
1,209 |
|
Charge for the year |
302 |
|
------- |
|
At 30 September 2024 |
1,511 |
|
------- |
|
Carrying amount |
|
|
At 30 September 2024 |
387 |
|
------- |
|
At 30 September 2023 |
173 |
|
------- |
|
|
8.
Debtors
|
2024 |
2023 |
|
£ |
£ |
|
Trade debtors |
4,920 |
8,404 |
|
Other debtors |
188 |
– |
|
------- |
------- |
|
5,108 |
8,404 |
|
------- |
------- |
|
|
|
9.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
|
Trade creditors |
5,521 |
5,257 |
|
Social security and other taxes |
555 |
1,207 |
|
Other creditors |
124 |
1,641 |
|
Deferred income |
– |
99,360 |
|
Other creditors |
1,450 |
– |
|
------- |
--------- |
|
7,650 |
107,465 |
|
------- |
--------- |
|
|
|
10.
Control
The company is controlled by the directors on behalf of the members of the company.