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REGISTERED NUMBER: SC347514 (Scotland)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

Inch Park (Trading) Limited

Inch Park (Trading) Limited (Registered number: SC347514)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Inch Park (Trading) Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: Cllr L M Cameron
K W Irons
Y Sneddon
A T Soden
J P Mason
R McAndrew





SECRETARY: K W Irons





REGISTERED OFFICE: 5 Atholl Crescent
Edinburgh
EH3 8EJ





REGISTERED NUMBER: SC347514 (Scotland)





ACCOUNTANTS: J S Accounting Services Limited
13-15 Morningside Drive
EDINBURGH
EH10 5LZ

Inch Park (Trading) Limited (Registered number: SC347514)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 9,667 10,257

CURRENT ASSETS
Stocks 3,000 3,000
Debtors 5 7,806 16,567
Cash at bank and in hand 4,554 3,169
15,360 22,736
CREDITORS
Amounts falling due within one year 6 72,708 70,287
NET CURRENT LIABILITIES (57,348 ) (47,551 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(47,681

)

(37,294

)

CREDITORS
Amounts falling due after more than one
year

7

13,288

23,463
NET LIABILITIES (60,969 ) (60,757 )

RESERVES
Share premium 1 1
Retained earnings (60,970 ) (60,758 )
(60,969 ) (60,757 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 profit or loss 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.

Inch Park (Trading) Limited (Registered number: SC347514)

Balance Sheet - continued
31 May 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 Board of Directors and authorised for issue on 28 May 2025 and were signed on its behalf by:





Y Sneddon - Director


Inch Park (Trading) Limited (Registered number: SC347514)

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

1. STATUTORY INFORMATION

Inch Park (Trading) Limited is a private company, limited by shares , 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.

Going concern
The financial statements have been prepared on a going concern basis as the directors' assessment of going concern has not raised any concerns. Inch Park (Trading) Ltd is wholly owned by Inch Park Community Sports Club and the trustees of the charity are working with the directors of the company to improve the company's financial performance. During this time, the charity will provide financial support, if required, to ensure the company's liabilities are met as they fall due.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 - 20% on cost
Fixtures and fittings - 20% on cost
Computer equipment - 33% 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.

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.

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.

Unrelieved tax losses and other 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 and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Inch Park (Trading) Limited (Registered number: SC347514)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 June 2023 14,361 1,014 4,682 20,057
Additions - 3,220 - 3,220
At 31 May 2024 14,361 4,234 4,682 23,277
DEPRECIATION
At 1 June 2023 6,916 406 2,478 9,800
Charge for year 2,063 202 1,545 3,810
At 31 May 2024 8,979 608 4,023 13,610
NET BOOK VALUE
At 31 May 2024 5,382 3,626 659 9,667
At 31 May 2023 7,445 608 2,204 10,257

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 5,871 15,639
Other debtors 1,935 928
7,806 16,567

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 9,930 9,688
Trade creditors 19,274 20,912
Amounts owed to group undertakings 39,054 36,681
Taxation and social security 400 345
Other creditors 4,050 2,661
72,708 70,287

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Bank loans 13,288 23,463