| REGISTERED NUMBER: |
| Financial Statements for the Year Ended 31 August 2024 |
| for |
| ANGUS TOURISM COOPERATIVE LTD |
| REGISTERED NUMBER: |
| 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: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 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 |
| CURRENT ASSETS |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 5 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| RESERVES |
| Income and expenditure account |
| 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 were approved by the Board of Directors and authorised for issue on |
| 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 |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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 |
| Plant and machinery | - |
| Computer equipment | - |
| 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 |
| 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 |
| Additions |
| At 31 August 2024 |
| DEPRECIATION |
| At 1 September 2023 |
| Charge for year |
| At 31 August 2024 |
| NET BOOK VALUE |
| At 31 August 2024 |
| At 31 August 2023 |
| 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 |
| Other creditors |
| 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. |