4 23 November 2023 false false false false false false false false false true false false false false true false No description of principal activity 2022-07-01 Sage Accounts Production Advanced 2021 - FRS102_2021 6,410 2,085 641 2,726 3,684 4,325 22,879 258 10,962 12,175 17,770 2,339 10,001 10,108 2,067 5,109 xbrli:pure xbrli:shares iso4217:GBP 3589631 2022-07-01 2023-06-30 3589631 2023-06-30 3589631 2022-06-30 3589631 2021-07-01 2022-06-30 3589631 2022-06-30 3589631 bus:Director1 2022-07-01 2023-06-30 3589631 bus:Director7 2022-07-01 2023-06-30 3589631 core:PatentsTrademarksLicencesConcessionsSimilar 2022-06-30 3589631 core:PatentsTrademarksLicencesConcessionsSimilar 2023-06-30 3589631 core:PlantMachinery 2022-06-30 3589631 core:PlantMachinery 2023-06-30 3589631 core:PlantMachinery 2022-07-01 2023-06-30 3589631 core:WithinOneYear 2023-06-30 3589631 core:WithinOneYear 2022-06-30 3589631 core:RetainedEarningsAccumulatedLosses 2023-06-30 3589631 core:RetainedEarningsAccumulatedLosses 2022-06-30 3589631 core:PatentsTrademarksLicencesConcessionsSimilar 2022-07-01 2023-06-30 3589631 core:PatentsTrademarksLicencesConcessionsSimilar 2022-06-30 3589631 core:PlantMachinery 2022-06-30 3589631 bus:SmallEntities 2022-07-01 2023-06-30 3589631 bus:Audited 2022-07-01 2023-06-30 3589631 bus:FullAccounts 2022-07-01 2023-06-30 3589631 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 3589631 bus:CompanyLimitedByGuarantee 2022-07-01 2023-06-30
COMPANY REGISTRATION NUMBER: 3589631
BRITISH COMPRESSED AIR SOCIETY LIMITED
Company Limited by Guarantee
FILLETED FINANCIAL STATEMENTS
30 June 2023
BRITISH COMPRESSED AIR SOCIETY LIMITED
COMPANY LIMITED BY GUARANTEE
STATEMENT OF FINANCIAL POSITION
30 June 2023
2023
2022
Note
£
£
£
Fixed assets
Intangible assets
6
3,684
4,325
Tangible assets
7
2,067
5,109
-------
-------
5,751
9,434
Current assets
Debtors
8
34,661
127,749
Cash at bank and in hand
580,704
519,701
----------
----------
615,365
647,450
Creditors: amounts falling due within one year
9
204,414
273,432
----------
----------
Net current assets
410,951
374,018
----------
----------
Total assets less current liabilities
416,702
383,452
Provisions
30,531
----------
----------
Net assets
416,702
352,921
----------
----------
Capital and reserves
Profit and loss account
416,702
352,921
----------
----------
Members funds
416,702
352,921
----------
----------
These financial statements have been prepared and delivered 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'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income (including income and expenditure account) has not been delivered.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements were approved by the board of directors and authorised for issue on 23 November 2023 , and are signed on behalf of the board by:
V Jones
M J Ranger
Director
Director
Company registration number: 3589631
BRITISH COMPRESSED AIR SOCIETY LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 JUNE 2023
1. General information
The company is a private company limited by guarantee, registered in England & Wales. The address of the registered office is Numeric House, 98 Station Road, Sidcup, DA15 7BY.
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 statement of comprehensive income.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
There are no significant estimates or assumptions made that have significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.
Revenue recognition
Turnover represents members' subscriptions, training and other services rendered. All income is accounted for on a receivable basis.
Income tax
The taxation expense represents the current tax recognised in the reporting period. Current tax is recognised on non-mutual taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Trademarks
-
10 Years Straight Line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
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.
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:
Fixtures, fittings and equipment
-
3 Years Straight Line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable from the company to the fund. All contributions were payable in the year.
Debtors
Debtors are initially recorded at fair value and are assessed for impairment at each year end date. If any impairments exist the debtors are re-measured to the present value of the expected future cash inflows.
Creditors
Creditors are initially recorded at fair value and are then re-measured to the present value of the expected future cash outflows.
4. Company limited by guarantee
The company is limited by guarantee and has no share capital.
5. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2022: 4 ).
6. Intangible assets
Patents, trademarks and licences
£
Cost
At 1 July 2022 and 30 June 2023
6,410
-------
Amortisation
At 1 July 2022
2,085
Charge for the year
641
-------
At 30 June 2023
2,726
-------
Carrying amount
At 30 June 2023
3,684
-------
At 30 June 2022
4,325
-------
7. Tangible assets
Fixtures, fittings & equipment
Total
£
£
Cost
At 1 July 2022
22,879
22,879
Additions
258
258
Disposals
( 10,962)
( 10,962)
--------
--------
At 30 June 2023
12,175
12,175
--------
--------
Depreciation
At 1 July 2022
17,770
17,770
Charge for the year
2,339
2,339
Disposals
( 10,001)
( 10,001)
--------
--------
At 30 June 2023
10,108
10,108
--------
--------
Carrying amount
At 30 June 2023
2,067
2,067
--------
--------
At 30 June 2022
5,109
5,109
--------
--------
8. Debtors
2023
2022
£
£
Trade debtors
15,818
57,183
Other debtors
18,843
70,566
--------
----------
34,661
127,749
--------
----------
9. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
24,220
21,555
Corporation tax
153
153
Social security and other taxes
530
Other creditors
180,041
251,194
----------
----------
204,414
273,432
----------
----------
10. Summary audit opinion
The auditor's report for the year dated 23 November 2023 was unqualified .
The senior statutory auditor was Philip Benson Woodman FCCA , for and on behalf of Opass Billings Wilson & Honey LLP .