Caithness Chamber of Commerce - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC350926 (Scotland)

Financial Statements for the Year Ended 31 May 2020

for

Caithness Chamber of Commerce

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S Sutherland

Ms T Morris

D Craig

Mrs S I Kirk

A S Mackay

D J MacBeath

D Campbell

S R Middlemas

Ms J M Simpson

Mrs L M Sinclair

I Taylor

Mrs L F Sewell

REGISTERED OFFICE:

Naver Business Centre

Naver House

Naver Road

Thurso

Caithness

KW14 7QA

REGISTERED NUMBER:

SC350926 (Scotland)

ACCOUNTANTS:

Reid & Fraser

Chartered Accountants

15 Princes Street

Thurso

Caithness

KW14 7BQ

FIXED ASSETS

Intangible assets

4

-

315

Tangible assets

5

6,037

7,783

6,037

8,098

CURRENT ASSETS

Debtors

6

28,291

45,054

Cash at bank and in hand

361,257

306,811

389,548

351,865

CREDITORS

Amounts falling due within one year

7

(183,262

)

(158,681

)

NET CURRENT ASSETS

206,286

193,184

TOTAL ASSETS LESS CURRENT LIABILITIES

212,323

201,282

RESERVES

Income and expenditure account

212,323

201,282

212,323

201,282

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 October 2020 and were signed on its behalf by:

Ms T Morris - Director

1.	STATUTORY INFORMATION

Caithness Chamber of Commerce 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.

TURNOVER

Turnover comprises members' subscriptions and amounts derived from the provision of services to members, excluding

value added tax.

INTANGIBLE ASSETS

Intangible fixed assets are amortised on a reducing balance basis of 25% per annum over their estimated useful economic

lives.

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

-

25% reducing balance and 15% reducing balance

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.

GOVERNMENT GRANTS

Government grants in respect of capital expenditure are credited to a deferred income account and released to the profit and

loss account over the useful lives of the relevant assets.

Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

DEFERRED INCOME

Membership subscription income is deferred to the extent that it relates to future years.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2019 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 June 2019

4,200

Disposals

(4,200

)

At 31 May 2020

-

AMORTISATION

At 1 June 2019

3,885

Eliminated on disposal

(3,885

)

At 31 May 2020

-

NET BOOK VALUE

At 31 May 2020

-

At 31 May 2019

315

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 June 2019

and 31 May 2020

22,869

DEPRECIATION

At 1 June 2019

15,086

Charge for year

1,746

At 31 May 2020

16,832

NET BOOK VALUE

At 31 May 2020

6,037

At 31 May 2019

7,783

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

20,727

15,635

Other debtors

7,564

29,419

28,291

45,054

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

1,718

2,914

VAT

2,016

5,611

Other creditors

5,703

5,763

Deferred income

51,892

72,675

Deferred government grants

121,933

71,718

183,262

158,681

8.	RELATED PARTY DISCLOSURES

Controlling Parties:

The company is not controlled by any single party, as the company is limited by guarantee.