Association of Scottish Visitor Attracti - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: SC153812 (Scotland)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2018

FOR

ASSOCIATION OF SCOTTISH VISITOR

ATTRACTIONS

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

Mrs L Adamson

Miss K Brogan

Miss L M Cheyne

Mr R L Gourlay

Mrs A Kinnes

Miss S Loch

Ms S Morrison

Mr P Nixon

Mr D Walker

Mr G Morrison

Ms J Young

REGISTERED OFFICE:

Victoria House

87 High Street

Tillicoultry

Clackmannanshire

FK13 6AA

REGISTERED NUMBER:

SC153812 (Scotland)

ACCOUNTANTS:

Atkinson & Co Limited

Chartered Accountants

Victoria House

87 High Street

Tillicoultry

Clackmannanshire

FK13 6AA

The following reproduces the text of the report prepared for the directors 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 Balance Sheet. Readers are cautioned that the Income Statement and certain

other primary statements and the Directors' Report are not required to be filed with the Registrar of

Companies.

In accordance with our terms of engagement, and in order to assist you to fulfil your duties under the

Companies Act 2006, we have prepared the financial statements of the company on pages 5 to 10 from the

accounting records and information and explanations supplied to us.

This report is made to the Company's Board of Directors, as a body, in accordance with the terms of our

engagement. Our work has been undertaken to enable us to prepare the financial statements on behalf of the

Company's Board of Directors and for no other purpose. To the fullest extent permitted by law, we do not

accept or assume responsibility to anyone other than the Company and the Company's Board of Directors, as

a body, for our work or for this report.

We have carried out this engagement in accordance with best practice guidance issued by the Institute of

Chartered Accountants of Scotland and have complied with the ethical guidance laid down by the Institute

relating to members undertaking the preparation of financial statements.

You have acknowledged on the balance sheet as at 31 March 2018 your duty to ensure that the company has

kept adequate accounting records and to prepare financial statements that give a true and fair view under the

Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit

for the year.

We have not been instructed to carry out an audit of the financial statements. 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 financial statements.

Atkinson & Co Limited

Chartered Accountants

Victoria House

87 High Street

Tillicoultry

Clackmannanshire

FK13 6AA

6th July 2018

FIXED ASSETS

Tangible assets

4

1,100

1,467

CURRENT ASSETS

Debtors

5

78,384

47,302

Cash at bank and in hand

123,371

113,176

201,755

160,478

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

6

(132,512

)

(114,821

)

NET CURRENT ASSETS

69,243

45,657

TOTAL ASSETS LESS CURRENT LIABILITIES

70,343

47,124

PROVISIONS FOR LIABILITIES

8

(209

)

-

NET ASSETS

70,134

47,124

INCOME AND EXPENDITURE ACCOUNT

Income and expenditure account

70,134

47,124

MEMBERS' FUNDS

70,134

47,124

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2018 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 13th June 2018 and were signed on its behalf by:

Mr D Walker - Director

1.	STATUTORY INFORMATION

Association of Scottish Visitor Attractions 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income

Income relates to amounts invoiced for development services and membership fees. Credit is taken

for fees relating to the current year, those paid in advance are treated as such and adjusted as a current

liability in the balance sheet. An adjustment has been made to income to account for VAT on the flat

rate scheme.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

All fixed assets are initially recorded at 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 balance sheet date.

Deferred tax

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

the balance sheet 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.

Operating lease commitments

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership

remain with the lessor are charged against income on a straight line basis over the period of the lease.

Pension costs

The company operates a defined contribution pension scheme for employees. The assets of the

scheme are held separately from those of the company. The annual contributions payable are charged

to the income and expenditure account.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2017 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1st April 2017

and 31st March 2018

19,156

DEPRECIATION

At 1st April 2017

17,689

Charge for year

367

At 31st March 2018

18,056

NET BOOK VALUE

At 31st March 2018

1,100

At 31st March 2017

1,467

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

74,442

45,333

Prepayments

3,942

1,969

78,384

47,302

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

9,193

1,018

Corporation tax

3,745

12

Pay as you earn

1,060

1,180

Value added tax

10,120

9,480

Deferred income

107,394

101,182

Accrued expenses

1,000

1,949

132,512

114,821

7.	LEASING AGREEMENTS

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

2018

2017

£

£

Within one year

3,150

3,150

8.	PROVISIONS FOR LIABILITIES

2018

2017

£

£

Deferred tax

209

-

Deferred

tax

£

Provided during year

209

Balance at 31st March 2018

209

9.	LIMITED BY GUARANTEE

The company has no share capital as it is Limited by Guarantee. In the event of the company winding

up, the members will be limited to a liability of £1 each.