Registered number
06653437
BRITISH CUPPING SOCIETY
Filleted Accounts
31 July 2023
BRITISH CUPPING SOCIETY
Registered number: 06653437
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Current assets
Debtors 3 3,213 3,213
Cash at bank and in hand 18,313 32,064
21,526 35,277
Creditors: amounts falling due within one year 4 (41,091) (41,092)
Net current liabilities (19,565) (5,815)
Net liabilities (19,565) (5,815)
Capital and reserves
Profit and loss account (19,565) (5,815)
Shareholder's funds (19,565) (5,815)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S Nazir
Director
Approved by the board on 12 April 2024
BRITISH CUPPING SOCIETY
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 4 4
3 Debtors 2023 2022
£ £
Trade debtors 3,213 3,213
4 Creditors: amounts falling due within one year 2023 2022
£ £
Other creditors 41,091 41,092
5 Other information
BRITISH CUPPING SOCIETY is a private company limited by shares and incorporated in England. Its registered office is:
HAMILTON HOUSE
4A THE AVENUE
LONDON
E4 9LD
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