Snowsport Scotland Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC095587 (Scotland)

Financial Statements For The Year Ended 31 March 2019

for

Snowsport Scotland Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

K Munro

Dr R W Glasse Davies

Ms A Anderson

N Cameron

N D H Farish

E G Anderson

A R M Clyde

F Musgrave

R Hutchison

T Wilson

REGISTERED OFFICE:

Caledonia House

Redheughs Rigg

South Gyle

Edinburgh

EH12 9DQ

REGISTERED NUMBER:

SC095587 (Scotland)

ACCOUNTANTS:

Robb Ferguson

Chartered Accountants

Regent Court

70 West Regent Street

Glasgow

G2 2QZ

FIXED ASSETS

Tangible assets

4

6,157

4,567

CURRENT ASSETS

Stocks

7,439

5,345

Debtors

5

28,336

12,704

Cash at bank and in hand

116,808

229,633

152,583

247,682

CREDITORS

Amounts falling due within one year

6

54,498

115,323

NET CURRENT ASSETS

98,085

132,359

TOTAL ASSETS LESS CURRENT LIABILITIES

104,242

136,926

RESERVES

Income and expenditure account

104,242

136,926

104,242

136,926

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 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 surplus or deficit 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors on 26 August 2019 and were signed on its behalf by:

K Munro - Director

1.	STATUTORY INFORMATION

Snowsport Scotland Limited is a private company, limited by guarantee , 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.

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 each asset over its estimated useful life.

Development resources

-

33.33% on cost

Furniture and equipment

-

33.33% on cost

Software

-

25% 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

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible

preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit

or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes

recognised in profit or loss.

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 tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the statement of financial position date.

Current or deferred taxation assets and liabilities are not discounted.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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

Rentals paid under operating leases are charged to surplus or deficit 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.

Capital grants and donations

Grants are treated as deferred income with a portion being released to revenue annually in accordance with the

expected lives of the relevant assets.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2018 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Furniture

Development

and

resources

equipment

Software

Totals

£

£

£

£

COST

At 1 April 2018

4,169

25,522

8,640

38,331

Additions

-

4,864

1,617

6,481

At 31 March 2019

4,169

30,386

10,257

44,812

DEPRECIATION

At 1 April 2018

3,231

22,107

8,426

33,764

Charge for year

704

3,771

416

4,891

At 31 March 2019

3,935

25,878

8,842

38,655

NET BOOK VALUE

At 31 March 2019

234

4,508

1,415

6,157

At 31 March 2018

938

3,415

214

4,567

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

21,281

11,483

Prepayments and accrued income

7,055

1,221

28,336

12,704

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

7,552

20,474

Tax

13

8

Accruals and deferred income

46,933

94,841

54,498

115,323

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2019

2018

£

£

Within one year

20,031

21,933

Between one and five years

25,890

45,921

45,921

67,854

8.	LIMITED BY GUARANTEE

Every member of Snowsport Scotland Limited undertakes to contribute such amount as may be required (not

exceeding £1) to Snowsport Scotland Limited's assets if it should be wound up while he is a member or within

one year after he ceases to be a member.

9.

FUNDS

Opening

Surplus /(Deficit)

Closing

£

£

£

John Hynes Memorial Fund

7,749

-

7,749

General Fund

104,581

(32,684

)

71,897

Special Member's Fund

24,596

-

24,596

Total

136,926

(32,684

)

104,242