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23 November 2023
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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 |
|
BRITISH COMPRESSED AIR SOCIETY LIMITED |
|
COMPANY LIMITED BY GUARANTEE |
|
STATEMENT OF FINANCIAL POSITION |
|
30 June 2023
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:
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 |
- |
|
|
|
|
|
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
.