The British Herbal Medicine Association Limited 01002805 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is to promote co-operation between bodies & individuals interested in the supply and prescription of herbal medicine and to render advisory assistance in the field of phytotherapy and to promulgate and diffuse knowledge within the United Kingdom Digita Accounts Production Advanced 6.30.9574.0 true 01002805 2023-01-01 2023-12-31 01002805 2023-12-31 01002805 core:OtherReservesSubtotal 2023-12-31 01002805 core:RetainedEarningsAccumulatedLosses 2023-12-31 01002805 core:CurrentFinancialInstruments 2023-12-31 01002805 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 01002805 core:FurnitureFittingsToolsEquipment 2023-12-31 01002805 bus:SmallEntities 2023-01-01 2023-12-31 01002805 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 01002805 bus:FullAccounts 2023-01-01 2023-12-31 01002805 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 01002805 bus:RegisteredOffice 2023-01-01 2023-12-31 01002805 bus:CompanySecretary1 2023-01-01 2023-12-31 01002805 bus:Director1 2023-01-01 2023-12-31 01002805 bus:Director10 2023-01-01 2023-12-31 01002805 bus:Director11 2023-01-01 2023-12-31 01002805 bus:Director12 2023-01-01 2023-12-31 01002805 bus:Director2 2023-01-01 2023-12-31 01002805 bus:Director3 2023-01-01 2023-12-31 01002805 bus:Director4 2023-01-01 2023-12-31 01002805 bus:Director5 2023-01-01 2023-12-31 01002805 bus:Director6 2023-01-01 2023-12-31 01002805 bus:Director7 2023-01-01 2023-12-31 01002805 bus:Director8 2023-01-01 2023-12-31 01002805 bus:Director9 2023-01-01 2023-12-31 01002805 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 01002805 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 01002805 core:OfficeEquipment 2023-01-01 2023-12-31 01002805 countries:EnglandWales 2023-01-01 2023-12-31 01002805 2022-12-31 01002805 core:FurnitureFittingsToolsEquipment 2022-12-31 01002805 2022-01-01 2022-12-31 01002805 2022-12-31 01002805 core:OtherReservesSubtotal 2022-12-31 01002805 core:RetainedEarningsAccumulatedLosses 2022-12-31 01002805 core:CurrentFinancialInstruments 2022-12-31 01002805 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 01002805 core:FurnitureFittingsToolsEquipment 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 01002805

The British Herbal Medicine Association Limited

Filleted Unaudited Financial Statements

for the Year Ended 31 December 2023

 

The British Herbal Medicine Association Limited
(Registration number: 01002805)

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 6

 

The British Herbal Medicine Association Limited
(Registration number: 01002805)

Company Information

Directors

J A Belcher

M G Dooley

S E Edwards

C J Etheridge

T Gallagher

A K Godsell

J M Groves

R W Middleton

S Y Mills

B L Perez Alonso

M J Willoughby

J Wragg

Company secretary

R Hutchins

Registered office

1 Colleton Crescent
Exeter
Devon
EX2 4DG

Accountants

Thompson Jenner LLP
Chartered Accountants
1 Colleton Crescent
Exeter
Devon
EX2 4DG

 

The British Herbal Medicine Association Limited
(Registration number: 01002805)

Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

474

817

Current assets

 

Stocks

5

2,334

2,134

Debtors

6

1,781

560

Cash at bank and in hand

 

58,312

68,379

 

62,427

71,073

Creditors: Amounts falling due within one year

7

(1,740)

(1,525)

Net current assets

 

60,687

69,548

Net assets

 

61,161

70,365

Capital and reserves

 

Other reserves

2,000

2,000

Profit and loss account

59,161

68,365

Total equity

 

61,161

70,365

For the financial year ending 31 December 2023 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 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 16 February 2024 and signed on its behalf by:
 

.........................................
T Gallagher
Director

 

The British Herbal Medicine Association Limited
(Registration number: 01002805)

Notes to the Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a company limited by guarantee incorporated in the United Kingdom.

The address of its registered office is:
1 Colleton Crescent
Exeter
Devon
EX2 4DG

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover includes subscriptions from members, sales of books and other amounts received from members and non-members during the year. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

The British Herbal Medicine Association Limited
(Registration number: 01002805)

Notes to the Financial Statements for the Year Ended 31 December 2023

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

Office equipment

20% straight line basis

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

 

The British Herbal Medicine Association Limited
(Registration number: 01002805)

Notes to the Financial Statements for the Year Ended 31 December 2023

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 12 (2022 - 13).

4

Tangible assets

Office equipment
 £

Total
£

Cost or valuation

At 1 January 2023

8,239

8,239

At 31 December 2023

8,239

8,239

Depreciation

At 1 January 2023

7,422

7,422

Charge for the year

343

343

At 31 December 2023

7,765

7,765

Carrying amount

At 31 December 2023

474

474

At 31 December 2022

817

817

5

Stocks

2023
£

2022
£

Finished goods and goods for resale

2,334

2,134

 

The British Herbal Medicine Association Limited
(Registration number: 01002805)

Notes to the Financial Statements for the Year Ended 31 December 2023

6

Debtors

2023
£

2022
£

Trade debtors

69

215

Other debtors

1,174

222

Prepayments and accrued income

538

123

Total current trade and other debtors

1,781

560

7

Creditors

Note

2023
£

2022
£

Due within one year

 

Accrued expenses

 

1,525

1,525

Corporation tax liability

 

215

-

 

1,740

1,525