| Registered number: SC371312 | ||||||||
| FOR THE 516 DAY PERIOD ENDED 31 MARCH 2026 | ||||||||
| (Ceased trading 28 February 2026) | ||||||||
| Prepared By: | ||||||||
| Cunningham Grant | ||||||||
| Chartered Accountants | ||||||||
| Unit G6, The Granary Business Centre | ||||||||
| Coal Road, Cupar | ||||||||
| Fife | ||||||||
| KY15 5YQ | ||||||||
| Fife Food Network | ||||||||
| FINANCIAL STATEMENTS | ||||||||
| FOR THE 516 DAY PERIOD ENDED 31 MARCH 2026 | ||||||||
| DIRECTORS | ||||||||
| REGISTERED OFFICE | ||||||||
| Fife | ||||||||
| COMPANY DETAILS | ||||||||
| Private company limited by guarantee registered in SC - Scotland, registered number SC371312 | ||||||||
| ACCOUNTANTS | ||||||||
| Cunningham Grant | ||||||||
| Chartered Accountants | ||||||||
| Unit G6, The Granary Business Centre | ||||||||
| Coal Road, Cupar | ||||||||
| Fife | ||||||||
| KY15 5YQ | ||||||||
| Fife Food Network | ||||||||
| FINANCIAL STATEMENTS | ||||||||
| FOR THE516 DAY PERIODENDED31 MARCH 2026 | ||||||||
| CONTENTS | ||||||||
| Page | ||||||||
| Directors' Report | - | |||||||
| Accountants' Report | - | |||||||
| Statement Of Comprehensive Income | - | |||||||
| Balance Sheet | 3 | |||||||
| Notes To The Accounts | 4 | |||||||
| The following do not form part of the statutory financial statements: | ||||||||
| Trading And Profit And Loss Account | - | |||||||
| Profit And Loss Account Summaries | - | |||||||
| Fife Food Network | ||||||||
| BALANCE SHEET AT | ||||||||||
| 2026 | 2025 | |||||||||
| Notes | £ | £ | ||||||||
| CURRENT ASSETS | ||||||||||
| Debtors | 3 | |||||||||
| Cash at bank and in hand | ||||||||||
| 4,832 | 15,532 | |||||||||
| CREDITORS: Amounts falling due within one year | 4 | |||||||||
| NET CURRENT ASSETS | 4,316 | |||||||||
| TOTAL ASSETS LESS CURRENT LIABILITIES | ||||||||||
| CAPITAL AND RESERVES | ||||||||||
| Profit and loss account | 4,778 | 4,316 | ||||||||
| SHAREHOLDERS' FUNDS | ||||||||||
| Approved by the board on | ||||||||||
| ............................. | ||||||||||
| Director | ||||||||||
| Fife Food Network | ||||||||
| NOTES TO THE ACCOUNTS | ||||||||||
| FOR THE 516 DAY PERIOD ENDED 31 MARCH 2026 | ||||||||||
| 1. ACCOUNTING POLICIES |
| 1a. General Information And Basis Of Preparation | ||||||||
| The company is limited by guarantee and incorporated in Scotland. The address of the registered office is given in the company information on page 1 of these financial statements. | ||||||||
| The financial statements have been prepared in accordance with Financial Reporting Standard FRS 102 including Section 1A Small Entities, the Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. There were no material departures from that standard. | ||||||||
| The financial statements are presented in sterling which is the functional currency of the company and are rounded to the nearest £1. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise shown. | ||||||||
| 1b. Going Concern | ||||||||
| The financial statements have been prepared on a basis other than that of a going concern. The company ceased trading on 28 February 2026. As a consequence, the going concern basis of accounting is no longer appropriate. No adjustments were required to the carrying values of the assets and liabilities. | ||||||||
| 1c. Turnover | ||||||||
| Membership fees are recognised in the period to which they relate. | ||||||||
| Donations are included in the financial statements in the period in which they are received. | ||||||||
| Grants are included in the financial statements in the period to which they relate. | ||||||||
| 1d. Cash And Cash Equivalents | ||||||||
| Cash and cash equivalents are basic financial instruments which include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. | ||||||||
| 1e. Financial Instruments | ||||||||
| Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. | ||||||||
| Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. | ||||||||
| Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. | ||||||||
| Fife Food Network | ||||||||
| 1f. Taxation | ||||||||
| Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted. The company is not liable to Corporation Tax on its activities with members. Corporation Tax is payable on investment income. | ||||||||
| Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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. | ||||||||
| Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued, non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset. | ||||||||
| 1g. Critical Accounting Estimates And Judgements | ||||||||
| In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. | ||||||||
| The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. | ||||||||
| The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period, or in the period of the revision and future periods where the revision affects both current and future periods. | ||||||||
| 2. EMPLOYEES | ||||||
| 2026 | 2025 | |||||
| No. | No. | |||||
| Average number of employees | - | |||||
| 3. DEBTORS | 2026 | 2025 | ||||||
| £ | £ | |||||||
| Amounts falling due within one year | ||||||||
| Other debtors | - | 176 | ||||||
| - | 176 | |||||||
| Fife Food Network | ||||||||
| 4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
| 2026 | 2025 | |||||||
| £ | £ | |||||||
| Other creditors | 54 | 11,216 | ||||||
| 54 | 11,216 | |||||||
| 5. CONTROLLING PARTY | ||||||||
| As the company is limited by guarantee, the directors consider that there is no single ultimate controlling party. | ||||||||