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REGISTERED NUMBER: SC573271 (Scotland)












Financial Statements for the Year Ended 31 August 2024

for

ANGUS TOURISM COOPERATIVE LTD

ANGUS TOURISM COOPERATIVE LTD (REGISTERED NUMBER: SC573271)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ANGUS TOURISM COOPERATIVE LTD

Company Information
for the Year Ended 31 August 2024







DIRECTORS: K A Dempsey
A Elliott
L M Nicoll
B Sheridan
E J Fraser
S W Cumming





REGISTERED OFFICE: Murton Trust
Murton Steading
Arbroath Road
Forfar
Angus
DD8 2RZ





REGISTERED NUMBER: SC573271 (Scotland)





ACCOUNTANTS: Account Tax Ltd
Chartered Certified Accountants
12 Traill Drive
Montrose
Angus
DD10 8SW

ANGUS TOURISM COOPERATIVE LTD (REGISTERED NUMBER: SC573271)

Balance Sheet
31 August 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 30,885 27,481

CURRENT ASSETS
Cash at bank 41,337 50,787

CREDITORS
Amounts falling due within one year 5 43,645 55,055
NET CURRENT LIABILITIES (2,308 ) (4,268 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

28,577

23,213

PROVISIONS FOR LIABILITIES 557 742
NET ASSETS 28,020 22,471

RESERVES
Income and expenditure account 28,020 22,471
28,020 22,471

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

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

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 Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 May 2025 and were signed on its behalf by:



A Elliott - Director


ANGUS TOURISM COOPERATIVE LTD (REGISTERED NUMBER: SC573271)

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

1. STATUTORY INFORMATION

Angus Tourism Cooperative Ltd 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transaction.

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 - 25% on reducing balance
Computer equipment - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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 material 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

ANGUS TOURISM COOPERATIVE LTD (REGISTERED NUMBER: SC573271)

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

4. TANGIBLE FIXED ASSETS
Freehold Plant and Computer
property machinery equipment Totals
£    £    £    £   
COST
At 1 September 2023 23,575 4,584 1,665 29,824
Additions 4,380 - - 4,380
At 31 August 2024 27,955 4,584 1,665 34,204
DEPRECIATION
At 1 September 2023 - 1,576 767 2,343
Charge for year - 752 224 976
At 31 August 2024 - 2,328 991 3,319
NET BOOK VALUE
At 31 August 2024 27,955 2,256 674 30,885
At 31 August 2023 23,575 3,008 898 27,481

Included within the property category are 3 new Pictish stones. The cost captures their design, carving and installation.

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 1,487 3,573
Other creditors 42,158 51,482
43,645 55,055

Angus Tourism Cooperative Ltd receives funding from a range of providers. The largest donation came from Angus Council. In total £127,911 of grants were received. Of that total £41,336 is withheld for the completion of works in progress. The largest of these is the Brechin Community Lead Tourism initiative.

6. RELATED PARTY DISCLOSURES

The company was under control of S W Cummings, K A Dempsey, A Elliott, E J Fraser, L M Nicoll and B Sheridan throughout the current and S Byrne, K A Dempsey, A Elloitt and L M Nicoll throughtout the previous year. S Byrne resigned 4 March 2024. E J Fraser and S W Cumming appointed 5 February 2024.