IRIS Accounts Production v25.1.4.42 SC464585 Board of Directors 30.11.23 29.11.24 29.11.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC4645852023-11-29SC4645852024-11-29SC4645852023-11-302024-11-29SC4645852022-11-30SC4645852022-12-012023-11-29SC4645852023-11-29SC464585ns15:Scotland2023-11-302024-11-29SC464585ns14:PoundSterling2023-11-302024-11-29SC464585ns10:Director12023-11-302024-11-29SC464585ns10:PrivateLimitedCompanyLtd2023-11-302024-11-29SC464585ns10:SmallEntities2023-11-302024-11-29SC464585ns10:AuditExempt-NoAccountantsReport2023-11-302024-11-29SC464585ns10:SmallCompaniesRegimeForDirectorsReport2023-11-302024-11-29SC464585ns10:SmallCompaniesRegimeForAccounts2023-11-302024-11-29SC464585ns10:FullAccounts2023-11-302024-11-29SC464585ns10:Director22023-11-302024-11-29SC464585ns10:RegisteredOffice2023-11-302024-11-29SC464585ns5:CurrentFinancialInstruments2024-11-29SC464585ns5:CurrentFinancialInstruments2023-11-29SC464585ns5:Non-currentFinancialInstruments2024-11-29SC464585ns5:Non-currentFinancialInstruments2023-11-29SC464585ns5:ShareCapital2024-11-29SC464585ns5:ShareCapital2023-11-29SC464585ns5:SharePremium2024-11-29SC464585ns5:SharePremium2023-11-29SC464585ns5:RevaluationReserve2024-11-29SC464585ns5:RevaluationReserve2023-11-29SC464585ns5:RetainedEarningsAccumulatedLosses2024-11-29SC464585ns5:RetainedEarningsAccumulatedLosses2023-11-29SC464585ns5:LandBuildingsns5:ShortLeaseholdAssets2023-11-302024-11-29SC464585ns5:PlantMachinery2023-11-302024-11-29SC464585ns5:FurnitureFittings2023-11-302024-11-29SC464585ns5:ComputerEquipment2023-11-302024-11-29SC464585ns5:LandBuildingsns5:ShortLeaseholdAssets2023-11-29SC464585ns5:PlantMachinery2023-11-29SC464585ns5:FurnitureFittings2023-11-29SC464585ns5:ComputerEquipment2023-11-29SC464585ns5:LandBuildingsns5:ShortLeaseholdAssets2024-11-29SC464585ns5:PlantMachinery2024-11-29SC464585ns5:FurnitureFittings2024-11-29SC464585ns5:ComputerEquipment2024-11-29SC464585ns5:LandBuildingsns5:ShortLeaseholdAssets2023-11-29SC464585ns5:PlantMachinery2023-11-29SC464585ns5:FurnitureFittings2023-11-29SC464585ns5:ComputerEquipment2023-11-29SC464585ns5:FurnitureFittingsns5:LeasedAssetsHeldAsLessee2023-11-29SC464585ns5:FurnitureFittingsns5:LeasedAssetsHeldAsLessee2023-11-302024-11-29SC464585ns5:FurnitureFittingsns5:LeasedAssetsHeldAsLessee2024-11-29SC464585ns5:FurnitureFittingsns5:LeasedAssetsHeldAsLessee2023-11-29SC464585ns5:WithinOneYearns5:CurrentFinancialInstruments2024-11-29SC464585ns5:WithinOneYearns5:CurrentFinancialInstruments2023-11-29SC464585ns5:Secured2024-11-29SC464585ns5:Secured2023-11-29SC464585ns5:RevaluationReserve2023-11-29
REGISTERED NUMBER: SC464585 (Scotland)





















Unaudited Financial Statements

For The Year Ended 29 November 2024

for

Assembly Festival Limited

Assembly Festival Limited (Registered number: SC464585)






Contents of the Financial Statements
For The Year Ended 29 November 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Assembly Festival Limited

Company Information
For The Year Ended 29 November 2024







DIRECTORS: W W Burdett-Coutts
L O Johnson





REGISTERED OFFICE: 2 Roxburgh Place
Edinburgh
United Kingdom
EH8 9SU





REGISTERED NUMBER: SC464585 (Scotland)





ACCOUNTANTS: Atkinson Donnelly LLP
1 Cambuslang Court
Cambuslang
Glasgow
Strathclyde
G32 8FH

Assembly Festival Limited (Registered number: SC464585)

Balance Sheet
29 November 2024

29.11.24 29.11.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 1,173,989 1,322,158

CURRENT ASSETS
Stocks 20,957 -
Debtors 5 1,329,513 1,759,346
Cash at bank and in hand 177,431 1,075,740
1,527,901 2,835,086
CREDITORS
Amounts falling due within one year 6 1,709,285 2,867,468
NET CURRENT LIABILITIES (181,384 ) (32,382 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

992,605

1,289,776

CREDITORS
Amounts falling due after more than one year 7 284,983 677,045
NET ASSETS 707,622 612,731

CAPITAL AND RESERVES
Called up share capital 100 100
Share premium 299,970 299,970
Revaluation reserve 9 929,395 929,395
Retained earnings (521,843 ) (616,734 )
SHAREHOLDERS' FUNDS 707,622 612,731

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 November 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.

Assembly Festival Limited (Registered number: SC464585)

Balance Sheet - continued
29 November 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 29 August 2025 and were signed on its behalf by:





W W Burdett-Coutts - Director


Assembly Festival Limited (Registered number: SC464585)

Notes to the Financial Statements
For The Year Ended 29 November 2024

1. STATUTORY INFORMATION

Assembly Festival 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 as modified by the revaluation of certain assets.

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 the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Short leasehold - 20% on cost
Plant and machinery - 10% on cost
Fixtures and fittings - 15% on reducing balance and at variable rates on reducing balance
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.

Financial instruments
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Cash and Bank Balances
Cash and bank balances are measured at the transaction price.

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.


Assembly Festival Limited (Registered number: SC464585)

Notes to the Financial Statements - continued
For The Year Ended 29 November 2024

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 118 (2023 - 150 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Computer
leasehold machinery fittings equipment Totals
£    £    £    £    £   
COST OR VALUATION
At 30 November 2023 312,293 122,400 1,135,831 22,552 1,593,076
Additions - 12,850 - 4,394 17,244
At 29 November 2024 312,293 135,250 1,135,831 26,946 1,610,320
DEPRECIATION
At 30 November 2023 249,834 - - 21,084 270,918
Charge for year 62,459 13,525 86,511 2,918 165,413
At 29 November 2024 312,293 13,525 86,511 24,002 436,331
NET BOOK VALUE
At 29 November 2024 - 121,725 1,049,320 2,944 1,173,989
At 29 November 2023 62,459 122,400 1,135,831 1,468 1,322,158

Assembly Festival Limited (Registered number: SC464585)

Notes to the Financial Statements - continued
For The Year Ended 29 November 2024

4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 29 November 2024 is represented by:

Fixtures
Short Plant and and Computer
leasehold machinery fittings equipment Totals
£    £    £    £    £   
Valuation in 2024 312,293 135,250 1,135,831 26,946 1,610,320

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Fixtures
and
fittings
£   
COST OR VALUATION
At 30 November 2023
and 29 November 2024 845,000
DEPRECIATION
Charge for year 42,886
At 29 November 2024 42,886
NET BOOK VALUE
At 29 November 2024 802,114
At 29 November 2023 845,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.11.24 29.11.23
£    £   
Trade debtors 375,461 787,527
Amounts owed by associates 82,000 47,000
Other debtors 872,052 924,819
1,329,513 1,759,346

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.11.24 29.11.23
£    £   
Bank loans and overdrafts 380,004 380,004
Hire purchase contracts 12,058 113,292
Trade creditors 395,969 510,387
Taxation and social security 587,524 681,297
Other creditors 333,730 1,182,488
1,709,285 2,867,468

Assembly Festival Limited (Registered number: SC464585)

Notes to the Financial Statements - continued
For The Year Ended 29 November 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
29.11.24 29.11.23
£    £   
Bank loans 284,983 664,987
Hire purchase contracts - 12,058
284,983 677,045

8. SECURED DEBTS

The following secured debts are included within creditors:

29.11.24 29.11.23
£    £   
Bank loans 664,987 1,044,991

National Westminster Bank PLC holds a floating charge over all the property and undertakings under the business.

9. RESERVES
Revaluation
reserve
£   
At 30 November 2023
and 29 November 2024 929,395

10. RELATED PARTY DISCLOSURES

In the year to 30th November 2024, Assembly Festival Limited was owed £82,000 (2023: £47,000) by a related party (Assembly Wings Ltd).

In the year to 30th November 2024, Assembly Festival Limited was owed £554,475 (2023: £477,463) by a related party (Forestrox Ltd).