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Registration number: 01010968

Comite International Des Telecommunications de Presse

(A company limited by guarantee)

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2022

 

Comite International Des Telecommunications de Presse

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 9

 

Comite International Des Telecommunications de Presse

Company Information

Directors

Mr B P Quinn

J Parrucci

R C Schmidt-Nia

P Harman

G Innerwinkler

G Wu

D Compton

P Mougin

H L Edwards-Gray

Company secretary

Mr B P Quinn

Registered office

25 Southampton Buildings
London
WC2A 1AL

 

Comite International Des Telecommunications de Presse

(Registration number: 01010968)
Balance Sheet as at 31 December 2022

Note

31 December
2022

31 December
2021

Fixed assets

 

Tangible assets

6

1,039

1,558

Current assets

 

Debtors

7

4,740

6,583

Cash at bank and in hand

 

524,506

473,520

 

529,246

480,103

Creditors: Amounts falling due within one year

8

(45,530)

(36,115)

Net current assets

 

483,716

443,988

Net assets

 

484,755

445,546

Reserves

 

Retained earnings

484,755

445,546

Surplus

 

484,755

445,546

For the financial year ending 31 December 2022 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 31 March 2023 and signed on its behalf by:
 

.........................................
Mr B P Quinn
Company secretary and director

 

Comite International Des Telecommunications de Presse

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

1

General information

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

The address of its registered office is:
25 Southampton Buildings
London
WC2A 1AL
England

These financial statements were authorised for issue by the Board on 31 March 2023.

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.

The presentational currency is Euro's, rounded to the nearest whole number.

Revenue recognition

Subscription revenue comprises amounts invoiced to nominating organisations and scientific and industrial organisations.

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.

 

Comite International Des Telecommunications de Presse

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

25% reducing balance

 

Comite International Des Telecommunications de Presse

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Intellectual property

33% on cost reducing balance

Development costs

50% on cost reducing balance

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company during the year, was 1 (2021 - 1).

4

Profit before tax

Arrived at after charging/(crediting)

 

Comite International Des Telecommunications de Presse

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

31 December
2022

31 December
2021

Depreciation expense

520

529

 

Comite International Des Telecommunications de Presse

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

5

Intangible assets

Internally generated software development costs
 €

Other intangible assets
 €

Total

Cost or valuation

At 1 January 2022

72,134

9,473

81,607

At 31 December 2022

72,134

9,473

81,607

Amortisation

At 1 January 2022

72,134

9,473

81,607

At 31 December 2022

72,134

9,473

81,607

Carrying amount

At 31 December 2022

-

-

-

6

Tangible assets

Furniture, fittings and equipment
 €

Total

Cost or valuation

At 1 January 2022

2,078

2,078

At 31 December 2022

2,078

2,078

Depreciation

At 1 January 2022

519

519

Charge for the year

520

520

At 31 December 2022

1,039

1,039

Carrying amount

At 31 December 2022

1,039

1,039

At 31 December 2021

1,558

1,558

 

Comite International Des Telecommunications de Presse

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

7

Debtors

31 December
2022

31 December
2021

Trade debtors

4,740

6,583

4,740

6,583


 

Current

31 December
2022

31 December
2021

Trade debtors

4,740

6,583

 

Comite International Des Telecommunications de Presse

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

8

Creditors

Creditors: amounts falling due within one year

31 December
2022

31 December
2021

Due within one year

Trade creditors

61

160

Taxation and social security

43,200

33,687

Accruals and deferred income

2,269

2,268

45,530

36,115