The Tartan Army Limited Filleted accounts for Companies House (small and micro)

THE TARTAN ARMY LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: SC181111

The Tartan Army Limited

Filleted Unaudited Financial Statements

31 December 2022

The Tartan Army Limited

Financial Statements

Year ended 31 December 2022

Contents	Page

Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements	1

Statement of financial position	2

Notes to the financial statements	3

The Tartan Army Limited

Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of The Tartan Army Limited

Year ended 31 December 2022

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Tartan Army Limited for the year ended 31 December 2022, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at www.icas.com/accountspreparationguidance. This report is made solely to the Board of Directors of The Tartan Army Limited, as a body. Our work has been undertaken solely to prepare for your approval the financial statements of The Tartan Army Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with the requirements of ICAS as detailed at www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Tartan Army Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that The Tartan Army Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of The Tartan Army Limited. You consider that The Tartan Army Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of The Tartan Army Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

GILLILAND & COMPANY Chartered Accountants

216 West George Street Glasgow G2 2PQ

29 September 2023

The Tartan Army Limited

Statement of Financial Position

31 December 2022

	2022		2021
Note	£	£	£

Fixed assets

Tangible assets	5		30	1,057

Current assets

Cash at bank and in hand	70		–

Creditors: amounts falling due within one year	6	32,810		33,107
		--------		--------
Net current liabilities			32,740	33,107
			--------	--------
Total assets less current liabilities			( 32,710)	( 32,050)
			--------	--------
Net liabilities			( 32,710)	( 32,050)
			--------	--------

Capital and reserves

Called up share capital	100	100
Profit and loss account	( 32,810)	( 32,150)
	--------	--------
Shareholders deficit	( 32,710)	( 32,050)
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 29 September 2023 , and are signed on behalf of the board by:

Mr D S Lawson

Director

Company registration number: SC181111

The Tartan Army Limited

Notes to the Financial Statements

Year ended 31 December 2022

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is 216 West George Street, Glasgow, G2 2PQ.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The company is reliant on the support of the directors in order to continue in operational existence and meet its liabilities as they fall due. The directors are satisfied that they will continue to support the company for the next 12 months, and as such, the going concern basis is appropriate for the preparation of the accounts.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and Machinery	-	25% straight line
Website	-	33% straight line

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Intangible assets

	Development costs
	£
Cost
At 1 January 2022 and 31 December 2022	7,730
	-------
Amortisation
At 1 January 2022 and 31 December 2022	7,730
	-------
Carrying amount
At 31 December 2022	–
	-------
At 31 December 2021	–
	-------

5. Tangible assets

	Plant and machinery	Equipment	Total
	£	£	£
Cost
At 1 January 2022 and 31 December 2022	881	16,677	17,558
	----	--------	--------
Depreciation
At 1 January 2022	881	15,620	16,501
Charge for the year	–	1,027	1,027
	----	--------	--------
At 31 December 2022	881	16,647	17,528
	----	--------	--------
Carrying amount
At 31 December 2022	–	30	30
	----	--------	--------
At 31 December 2021	–	1,057	1,057
	----	--------	--------

6. Creditors: amounts falling due within one year

	2022	2021
	£	£
Bank loans and overdrafts	9,612	12,390
Other creditors	23,198	20,717
	--------	--------
	32,810	33,107
	--------	--------

7. Directors' advances, credits and guarantees

Mr D Lawson, director, was owed £5,300 from the company as at 31st December 2022 (2021: £4,550). Mr R Shields, director, was owed £2,828 from the company as at 31st December 2022 (2021: £2,078). These loans are unsecured, interest-free and repayable on demand.

8. Related party transactions

An amount of £13,203 was owed to a related party at year end (2021: £13,203)

9. Controlling party

The company was under the joint control of Mr D Lawson and Mr R Shields throughout the current and previous year. Each of the directors hold 50% of the company's share capital.