The Volunteer Arms (Tillicoultry) Limite - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: SC501519 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

THE VOLUNTEER ARMS (TILLICOULTRY)

LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

Chartered Accountants' Report

6

DIRECTOR:

J F Black

REGISTERED OFFICE:

10 Roxburgh Street

Grangemouth

FK3 9AJ

REGISTERED NUMBER:

SC501519 (Scotland)

ACCOUNTANTS:

Thomas Barrie & Co LLP

Atlantic House

1a Cadogan Street

Glasgow

G2 6QE

FIXED ASSETS

Tangible assets

4

817

1,203

CURRENT ASSETS

Stocks

3,534

5,421

Debtors

5

1,079

529

Cash at bank and in hand

16,879

21,933

21,492

27,883

CREDITORS

Amounts falling due within one year

6

(21,691

)

(28,375

)

NET CURRENT LIABILITIES

(199

)

(492

)

TOTAL ASSETS LESS CURRENT LIABILITIES

618

711

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

518

611

SHAREHOLDERS' FUNDS

618

711

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 profit or loss 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 December 2023 and were signed by:

J F Black - Director

1.	STATUTORY INFORMATION

THE VOLUNTEER ARMS (TILLICOULTRY) LIMITED, is a private company, limited by shares, registered in Scotland, registration number SC501519. The registered office is 10 Roxburgh Street, Grangemouth, Scotland, FK3 9AJ.

The principal activity of the company is running a licensed public house.

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 presentational and functional currency of the financial statements is Pounds Sterling (£).

Significant judgements and estimates

In preparing these financial statements, the director is required to make judgements, estimates and assumptions that affect the application of the Company's accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to estimates are recognised prospectively.

The following judgements and estimates have had the most significant effects on amounts recognised in the financial statements:

Plant and equipment

The estimates and assumptions made to determine asset lives require judgements to be made as regards useful lives and residual values. The useful lives and residual values of the company's financial assets are determined by management at the time the asset is acquired and reviewed annually for appropriateness. The lives are based on management experience with similar assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Sale of goods

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, usually on dispatch of the goods, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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

-

15% on cost and Straight line over 3 years

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

The company has financial assets and financial liabilities of a kind that qualify as basic financial instruments.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash and cash equivalents comprise cash balances, including bank overdrafts that are payable on demand and form an integral part of the company's cash management.

Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Provisions

Provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. The unwinding of the discount is recognised as finance cost.

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 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 statement of financial position date.

Short term employee benefits

Short term employee benefits, including holiday pay, are expensed as the related service is provided. A liability is recognised for the amount expected to be paid if the Group has a present legal or constructive obligation to pay this amount as a result of past service provided by the employee and the obligation can be estimated reliably if material.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2022

and 31 March 2023

2,709

DEPRECIATION

At 1 April 2022

1,506

Charge for year

386

At 31 March 2023

1,892

NET BOOK VALUE

At 31 March 2023

817

At 31 March 2022

1,203

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Other debtors

1,079

529

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

6,015

4,735

Taxation and social security

13,172

16,217

Other creditors

2,504

7,423

21,691

28,375

7.	RELATED PARTY DISCLOSURES

During the year, total dividends of £1,000 were paid to the director .

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

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 Volunteer Arms (Tillicoultry) Limited for the year ended 31 March 2023 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity 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 http://www.icas.com/accountspreparationguidance.

This report is made solely to the director of The Volunteer Arms (Tillicoultry) Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of The Volunteer Arms (Tillicoultry) Limited and state those matters that we have agreed to state to the director of The Volunteer Arms (Tillicoultry) Limited in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that The Volunteer Arms (Tillicoultry) 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 profit of The Volunteer Arms (Tillicoultry) Limited. You consider that The Volunteer Arms (Tillicoultry) 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 Volunteer Arms (Tillicoultry) 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.

Thomas Barrie & Co LLP

Atlantic House

1a Cadogan Street

Glasgow

G2 6QE

22 December 2023