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COMPANY REGISTRATION NUMBER: 09772805
Austrian Alpine Club (UK) Limited
Company Limited by Guarantee
Unaudited Financial Statements
31 December 2021
Austrian Alpine Club (UK) Limited
Company Limited by Guarantee
Financial Statements
Year ended 31 December 2021
Contents
Page
Directors' report
1
Chartered certified accountants report to the board of directors on the preparation of the unaudited statutory financial statements
3
Statement of income and retained earnings
4
Statement of financial position
5
Notes to the financial statements
7
Austrian Alpine Club (UK) Limited
Company Limited by Guarantee
Directors' Report
Year ended 31 December 2021
The directors present their report and the unaudited financial statements of the company for the year ended 31 December 2021 .
Directors
The directors who served the company during the year were as follows:
J E Britnell
A G B Cooper
L A Collins
M A Adams
N D Phipps
S C Walters
T C Morley
D E Rayner
B J Palmer
(Appointed 6 November 2021)
A Gymer
(Appointed 20 May 2021)
K R Thomas
(Appointed 20 May 2021)
I H Hughes
(Appointed 6 November 2021)
M D Garrett
(Resigned 6 November 2021)
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 28 July 2022 and signed on behalf of the board by:
N D Phipps
Director
Registered office:
Unit 43
Glenmore Business park
Blackhill Road
Holton Heath, Poole
Dorset
England
BH16 6NL
Austrian Alpine Club (UK) Limited
Company Limited by Guarantee
Chartered Certified Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Austrian Alpine Club (UK) Limited
Year ended 31 December 2021
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Austrian Alpine Club (UK) Limited for the year ended 31 December 2021, which comprise the statement of income and retained earnings, 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 the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. This report is made solely to the Board of Directors of Austrian Alpine Club (UK) Limited, as a body, in accordance with the terms of our engagement letter dated 30 March 2018. Our work has been undertaken solely to prepare for your approval the financial statements of Austrian Alpine Club (UK) 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 the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Austrian Alpine Club (UK) Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Austrian Alpine Club (UK) 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 Austrian Alpine Club (UK) Limited. You consider that Austrian Alpine Club (UK) 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 Austrian Alpine Club (UK) 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.
ADEPTA LIMITED Chartered Certified Accountants
Suite 3, Crown Point Estate Kirby Road Kirby Bedon Norwich Norfolk NR14 7DU
28 July 2022
Austrian Alpine Club (UK) Limited
Company Limited by Guarantee
Statement of Income and Retained Earnings
Year ended 31 December 2021
2021
2020
Note
£
£
Turnover
373,394
610,655
Cost of sales
138,840
262,623
---------
---------
Gross profit
234,554
348,032
Administrative expenses
290,943
461,674
---------
---------
Operating loss
( 56,389)
( 113,642)
Other interest receivable and similar income
116
283
---------
---------
Loss before taxation
6
( 56,273)
( 113,359)
Tax on loss
22
54
--------
---------
Loss for the financial year and total comprehensive income
( 56,295)
( 113,413)
--------
---------
All the activities of the company are from continuing operations.
Austrian Alpine Club (UK) Limited
Company Limited by Guarantee
Statement of Financial Position
31 December 2021
2021
2020
Note
£
£
Fixed assets
Tangible assets
7
107,392
51,987
Current assets
Stocks
1,618
5,918
Debtors
8
19,351
41,229
Cash at bank and in hand
486,724
564,204
---------
---------
507,693
611,351
Creditors: amounts falling due within one year
9
118,216
110,174
---------
---------
Net current assets
389,477
501,177
---------
---------
Total assets less current liabilities
496,869
553,164
---------
---------
Net assets
496,869
553,164
---------
---------
Reserves
Expedition Fund
8,962
9,717
Hut Fund
15,317
34,785
Fair value reserve
16,964
General Fund
455,626
508,662
---------
---------
Members funds
496,869
553,164
---------
---------
These financial statements have been prepared 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'.
For the 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 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 .
Austrian Alpine Club (UK) Limited
Company Limited by Guarantee
Statement of Financial Position (continued)
31 December 2021
These financial statements were approved by the board of directors and authorised for issue on 28 July 2022 , and are signed on behalf of the board by:
N D Phipps
D E Rayner
Director
Director
Company registration number: 09772805
Austrian Alpine Club (UK) Limited
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 December 2021
1. General information
The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is Unit 43, Glenmore Business park, Blackhill Road, Holton Heath, Poole, Dorset, BH16 6NL, England.
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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The financial statements have been prepared on a going concern basis as the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors have considered the levels of funds held and the expected levels of income and expenditure for 12 months from the authorising of the financial statements.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods 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 from subscriptions is recorded in the financial statements on an accruals basis. Subscription income received up to the date of the balance sheet date for the next membership year is deferred to the next financial period. Income from donations is recognised in the period in which the company is entitled to receipt and the amount can be measured with reasonable certainty.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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
-
33% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. Company limited by guarantee
There is no share capital as the company is limited by guarantee. All members of the company shall undertake to contribute such amount as is requested (not to exceed £1) to the assets of the company should it be wound up whilst they are a member or within one year after they cease to be a member, for full payment of company debts and liabilities before they ceased to be a member and of any costs, expenses and charges incurred in the winding up, and for adjustments of the rights of the contributions amongst themselves.
5. Membership subscriptions
2021
£
Subscription income from UK Members 199,057
Subscription income from Non-UK Members 125,317
--------
Total Subscription income 324,374
--------
6. Profit before taxation
Profit before taxation is stated after charging:
2021
2020
£
£
Depreciation of tangible assets
18,045
2,477
--------
-------
7. Tangible assets
Plant and machinery
£
Cost
At 1 January 2021
58,769
Additions
73,450
---------
At 31 December 2021
132,219
---------
Depreciation
At 1 January 2021
6,782
Charge for the year
18,045
---------
At 31 December 2021
24,827
---------
Carrying amount
At 31 December 2021
107,392
---------
At 31 December 2020
51,987
---------
8. Debtors
2021
2020
£
£
Other debtors
19,351
41,229
--------
--------
9. Creditors: amounts falling due within one year
2021
2020
£
£
Social security and other taxes
2,342
Other creditors
115,874
110,174
---------
---------
118,216
110,174
---------
---------
10. Hut fund
2021
£
Balance brought forward at 1 January 2021 34,785
Hut fund donations 10,058
Hut fund grants made (29,526)
Balance carried forward at 31 December 2022 15,317
11. Expedition fund
2021
£
Balance brought forward at 1 January 2021 9,717
Expedition fund donations 2,245
Expedition fund grants made (3,000)
Balance carried forward at 31 December 2021 8,962
12. Legacy fund
2021
£
Legacy fund donations 16,964
Legacy fund grants made -
Balance carried forward at 31 December 2021 16,964