REGISTERED NUMBER: SC185929 (Scotland)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

It's Corporate Entertainment Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

R Rock

SECRETARY:

Ms L Oliver

REGISTERED OFFICE:

60 Constitution Street

Edinburgh

EH6 6RR

REGISTERED NUMBER:

SC185929 (Scotland)

ACCOUNTANTS:

Cowan & Partners Limited

60 Constitution Street

Edinburgh

EH6 6RR

FIXED ASSETS

Intangible assets

4

12,407

14,514

Tangible assets

5

134,307

178,267

146,714

192,781

CURRENT ASSETS

Stocks

12,000

10,000

Debtors

6

4,799

2,181

Cash at bank and in hand

35,011

163,662

51,810

175,843

CREDITORS

Amounts falling due within one year

7

256,716

288,521

NET CURRENT LIABILITIES

(204,906

)

(112,678

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(58,192

)

80,103

CREDITORS

Amounts falling due after more than one year

8

(4,167

)

(14,167

)

PROVISIONS FOR LIABILITIES

(8,167

)

(9,462

)

NET (LIABILITIES)/ASSETS

(70,526

)

56,474

CAPITAL AND RESERVES

Called up share capital

20,001

20,001

Retained earnings

(90,527

)

36,473

SHAREHOLDERS' FUNDS

(70,526

)

56,474

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 26 September 2025 and were signed by:

R Rock - Director

1.	STATUTORY INFORMATION

It's Corporate Entertainment 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

The accounts have been prepared on a going concern basis. The director has confirmed his continued financial support in order that the company can meet its obligations as they fall due.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax. The company's policy is to recognise a sale when the company obtains the right to consideration.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website is being amortised evenly over its estimated useful life of ten years.

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

Fixtures and fittings

-

33% on reducing balance

Motor vehicles

-

25% on reducing balance

An impairment review of the fixed assets was carried out at the year end and there were no signs of impairment noted.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2023 - 23 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2024

and 31 December 2024

21,067

AMORTISATION

At 1 January 2024

6,553

Charge for year

2,107

At 31 December 2024

8,660

NET BOOK VALUE

At 31 December 2024

12,407

At 31 December 2023

14,514

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2024

579,615

72,790

223,172

1,166

876,743

Additions

-

1,500

-

-

1,500

At 31 December 2024

579,615

74,290

223,172

1,166

878,243

DEPRECIATION

At 1 January 2024

511,203

70,223

116,661

389

698,476

Charge for year

17,103

1,342

26,627

388

45,460

At 31 December 2024

528,306

71,565

143,288

777

743,936

NET BOOK VALUE

At 31 December 2024

51,309

2,725

79,884

389

134,307

At 31 December 2023

68,412

2,567

106,511

777

178,267

An impairment review of the fixed assets was carried out at the year end and there were no signs of impairment noted.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

1,943

-

Other debtors

2,856

2,181

4,799

2,181

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

10,000

10,000

Trade creditors

4,554

-

Taxation and social security

8,353

32,761

Other creditors

233,809

245,760

256,716

288,521

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans

4,167

14,167

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Bank loans

14,167

24,167

The HSBC Bank hold a floating charge over all of the assets of the company.