Company Registration No. SC468056 (Scotland)
FORTH VALLEY CHAMBER OF COMMERCE
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2019
PAGES FOR FILING WITH REGISTRAR
FORTH VALLEY CHAMBER OF COMMERCE
COMPANY INFORMATION
Directors
Mrs L Blaikie
Ms M Blenkharn
Mr B Ingle
Ms M M Rafferty
(Appointed 25 September 2018)
Ms S Robertson
(Appointed 13 February 2019)
Mr W Andrew
(Appointed 18 March 2019)
Mr K MacInnes
(Appointed 13 February 2019)
Mr A Buchanan
(Appointed 26 March 2019)
Company number
SC468056
Registered office
Scion House
Innovation Park
Stirling
FK9 4NF
Accountants
Campbell Dallas
15 Gladstone Place
Stirling
FK8 2NN
FORTH VALLEY CHAMBER OF COMMERCE
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
FORTH VALLEY CHAMBER OF COMMERCE
BALANCE SHEET
AS AT
31 MARCH 2019
31 March 2019
- 1 -
2019
2018
Notes
£
£
£
£
Current assets
Debtors
3
7,786
5,623
Cash at bank and in hand
4,957
1,567
12,743
7,190
Creditors: amounts falling due within one year
4
(13,205)
(12,819)
Net current liabilities
(462)
(5,629)
Creditors: amounts falling due after more than one year
5
(8,455)
(6,955)
Net liabilities
(8,917)
(12,584)
Reserves
Income and expenditure account
(8,917)
(12,584)
The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.
true
For the financial year ended 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 23 October 2019 and are signed on its behalf by:
Mrs L Blaikie
Director
Company Registration No. SC468056
FORTH VALLEY CHAMBER OF COMMERCE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2019
- 2 -
1
Accounting policies
Company information
Forth Valley Chamber of Commerce is a
private
company
limited by guarantee
incorporated in Scotland.
The registered office is
Scion House, Innovation Park, Stirling, FK9 4NF.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
1.2
Going concern
As at the 31 March 2019 the company's liabilities exceed its assets by £8,917. The company continues to operate with the support of its directors.
1.3
Income and expenditure
Income and expenses are included in the financial statements as they become receivable or due.
1.4
Cash at bank and in hand
Cash at bank and in hand
are basic financial assets
and
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.
1.5
Taxation
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
1.6
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 1 (2018 - 1).
3
Debtors
2019
2018
Amounts falling due within one year:
£
£
Trade debtors
6,099
5,623
Other debtors
1,687
-
7,786
5,623
FORTH VALLEY CHAMBER OF COMMERCE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2019
- 3 -
4
Creditors: amounts falling due within one year
2019
2018
£
£
Trade creditors
4,942
7,744
Taxation and social security
4,188
3,218
Other creditors
4,075
1,857
13,205
12,819
5
Creditors: amounts falling due after more than one year
2019
2018
£
£
Trade creditors
8,455
6,955
6
Members' liability
The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.