West Lothian Chamber of Commerce Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—4

Registered number: SC181673

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS

CURRENT ASSETS
Debtors	5	5,799		2,142
Cash at bank and in hand		73,912		66,564

		79,711		68,706
Creditors: Amounts Falling Due Within One Year	6	(72,344 )		(57,731 )

NET CURRENT ASSETS (LIABILITIES)			7,367		10,975

TOTAL ASSETS LESS CURRENT LIABILITIES			7,367		10,975

NET ASSETS			7,367		10,975

Income and Expenditure Account			7,367		10,975

MEMBERS' FUNDS			7,367		10,975

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West Lothian Chamber of Commerce Limited

Balance Sheet (continued)

As At 31 December 2024

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income and Expenditure Account.

On behalf of the board

Mr James Dyet Stewart

Director

10/09/2025

The notes on pages 3 to 4 form part of these financial statements.

1. General Information

West Lothian Chamber of Commerce Limited is a private company, limited by guarantee, incorporated in Scotland, registered number SC181673 . The registered office is PO Box EH54 7GA, Alba Innovation Centre Suite 0.13, Alba Campus, Livingston, Scotland, EH54 7GA.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	25% straight line method
Fixtures & Fittings	15% Reducing balance
Computer Equipment	25% SLM

2.4. Government Grant

Government grants are recognised in the income and expenditure account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.

Grants for immediate financial support or to cover costs already incurred are recognised immediately in the income and expenditure account. Grants towards general activities of the entity over a specific period are recognised in the income and expenditure account over that period.

Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the income and expenditure account over the useful life of the asset concerned.

All grants in the income and expenditure account are recognised when all conditions for receipt have been complied with.

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West Lothian Chamber of Commerce Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

3. Average Number of Employees

Average number of employees, including directors, during the year was: 3 (2023: 2)

4. Tangible Assets

	Plant & Machinery	Fixtures & Fittings	Total
	£	£	£
Cost
As at 1 January 2024	4,520	2,570	7,090

As at 31 December 2024	4,520	2,570	7,090

Depreciation
As at 1 January 2024	4,520	2,570	7,090

As at 31 December 2024	4,520	2,570	7,090

Net Book Value
As at 31 December 2024	-	-	-

As at 1 January 2024	-	-	-

5. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	4,571	427
VAT	1,228	1,715

	5,799	2,142

6. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	2,478	7,196
Other taxes and social security	825	-
Other creditors	68,059	49,806
Credit Card	253	-
Accruals and deferred income	729	729

	72,344	57,731

7. Company limited by guarantee

The company is limited by guarantee and has no share capital.

Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.

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