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Registration number: 01476933

The European Suzuki Association Limited

(A company limited by guarantee)

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2021

 

The European Suzuki Association Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

The European Suzuki Association Limited

Company Information

Directors

Trudy Byron-Fahy

Marco Messina

Anne Dorte Laub Busk

Anke Van Der Bijl

Ms Helen Ursula Brunner

Karen Lavie

Wim Meuris

Samal Petersen

Patricia Rüttimann

Päivikki Wirkkala-Malmqvist

Andrea Kreuiter

Bartosz Henrych

Ayca Keskin

Sarah Buckley

Ms Niina Haapanen

Flora Gáll

Sallija Bankevica

Kristine Ravina

Deja Aukštkalnyte

Mr. Martin Wood

Jana Hrabanová

Catherine Stirling

Juan-Carlos Navarro Gimeno

Mona Anita Nesse

Svetlana Briantceva

Andrea Mugrauer-Beis

Marie Velu

Subbe-Tamm Sirje

Company secretary

Mr Martin Wood

Company Number

01476933

Registered office

75 Park Road
Peterborough
Cambridgeshire
PE1 2TN

 

The European Suzuki Association Limited

(Registration number: 01476933)
Balance Sheet as at 31 December 2021

Note

2021

2020

   

£

£

£

£

Current assets

   

 

Debtors

4

 

954

 

108

Cash at bank and in hand

   

102,439

 

77,250

   

103,393

 

77,358

Creditors: Amounts falling due within one year

5

 

(2,419)

 

(2,743)

Net assets

   

100,974

 

74,615

capital and reserves

   

 

Profit and loss account

100,974

 

74,615

 

Total equity

   

100,974

 

74,615

For the financial year ending 31 December 2021 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 accounts for the year in question in accordance with section 476; and

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

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 1 May 2022 and signed on its behalf by:
 

.........................................
Anke Van Der Bijl
Director

 

The European Suzuki Association Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

1

General information

The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

The address of its registered office is:
75 Park Road
Peterborough
Cambridgeshire
PE1 2TN
United Kingdom

These financial statements were authorised for issue by the Board on 1 May 2022.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

The European Suzuki Association Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 29 (2020 - 29).

4

Debtors

Current

2021
£

2020
£

Trade debtors

954

108

 

The European Suzuki Association Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

5

Creditors

Creditors: amounts falling due within one year

Note

2021
£

2020
£

Due within one year

 

Loans and borrowings

6

-

1

Trade creditors

 

2,418

2,742

Other creditors

 

1

-

 

2,419

2,743

6

Loans and borrowings

2021
£

2020
£

Current loans and borrowings

Bank overdrafts

-

1