Scottish Tourist Guides Assoc. - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC167477 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

FOR

SCOTTISH TOURIST GUIDES

ASSOCIATION

COMPANY LIMITED BY GUARANTEE

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs L A Arthur

Miss A G Reid

Ms M E Brown

Mr A T Northop

Ms A Middleton

Mr R J Hendrie

Mr K Kerr

Mr K R Bramham

Mrs D McGuiness

Mr J M Leslie

REGISTERED OFFICE:

Nories House

18b Broad Street

Stirling

Stirlingshire

FK8 1EF

REGISTERED NUMBER:

SC167477 (Scotland)

FIXED ASSETS

Intangible assets

4

11,200

-

Tangible assets

5

3,312

5,105

Investments

6

-

100

14,512

5,205

CURRENT ASSETS

Stocks

7

1,370

1,153

Debtors

8

29,155

50,453

Cash at bank and in hand

382,009

183,993

412,534

235,599

CREDITORS

Amounts falling due within one year

9

263,144

130,052

NET CURRENT ASSETS

149,390

105,547

TOTAL ASSETS LESS CURRENT LIABILITIES

163,902

110,752

RESERVES

Income and expenditure account

163,902

110,752

163,902

110,752

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 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 applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors and authorised for issue on 3 March 2021 and were signed on its behalf by:

Mrs L A Arthur - Director

1.	STATUTORY INFORMATION

Scottish Tourist Guides Association 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.

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 financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. In particular, in response to the COVID-19 pandemic, the Directors have tested their cash flow analysis to take into account the impact on their business of possible scenarios brought on by the impact of COVID-19, alongside the measures that they can take to mitigate the impact. Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the Directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.

TURNOVER

Income from tourist guide services and quality control standards is measured at the fair value of the consideration received or receivable, excluding discounts, rebates and other sales taxes.

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.

Development costs are being amortised evenly over their estimated useful life of five 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 etc

-

50% per annum on cost, 20% per annum on cost and 20% per annum reducing balance

INVESTMENTS IN SUBSIDIARIES

Investments in subsidiary undertakings are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

STOCKS

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

TAXATION

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2019 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

Additions

12,000

At 31 December 2020

12,000

AMORTISATION

Charge for year

800

At 31 December 2020

800

NET BOOK VALUE

At 31 December 2020

11,200

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2020

48,510

Additions

575

Disposals

(502

)

At 31 December 2020

48,583

DEPRECIATION

At 1 January 2020

43,405

Charge for year

2,368

Eliminated on disposal

(502

)

At 31 December 2020

45,271

NET BOOK VALUE

At 31 December 2020

3,312

At 31 December 2019

5,105

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2020

100

Impairments

(100

)

At 31 December 2020

-

NET BOOK VALUE

At 31 December 2020

-

At 31 December 2019

100

7.

STOCKS

2020

2019

£

£

Stocks

1,370

1,153

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

9,353

393

Amounts owed by group undertakings

9,780

45,711

Other debtors

10,022

4,349

29,155

50,453

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Other creditors

263,144

130,052

10.	LEASING AGREEMENTS

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

2020

2019

£

£

Within one year

7,650

7,650

11.	RELATED PARTY DISCLOSURES

Included within "Debtors" are amounts due from group undertakings amounting to £9,780 (2019: £45,711) No interest is charged on this outstanding balance and no fixed terms of repayment have been agreed.

12.	LIMITED BY GUARANTEE

Scottish Tourist Guides Association is a company limited by guarantee of its members and does not have share capital. Each member has undertaken to contribute an amount not exceeding one pound towards any deficit arising in the event of the company being wound up.