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REGISTERED NUMBER: SC382629 (Scotland)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

PSYCHOLOGISTS' PROTECTION SOCIETY TRUST

PSYCHOLOGISTS' PROTECTION SOCIETY TRUST (REGISTERED NUMBER: SC382629)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PSYCHOLOGISTS' PROTECTION SOCIETY TRUST

COMPANY INFORMATION
for the year ended 31 October 2023







DIRECTORS: Ms K Millhagen
Mr T W Cromey
Miss E Mcdonagh
Ms P S Custers
Mr E C Davidson





SECRETARY: Mr E M Murray





REGISTERED OFFICE: Lime Tree House
North Castle Street
Alloa
Clackmannanshire
FK10 1EX





REGISTERED NUMBER: SC382629 (Scotland)





ACCOUNTANTS: Haines Watts
Business Advisors and Accountants
Wallace House
Maxwell Place
Stirling
FK8 1JU

PSYCHOLOGISTS' PROTECTION SOCIETY TRUST (REGISTERED NUMBER: SC382629)

BALANCE SHEET
31 October 2023

2023 2022
as restated
Notes £    £    £    £   
FIXED ASSETS
Investments 4 160,000 160,000

CURRENT ASSETS
Debtors 5 98,746 85,374
Cash at bank 322,013 329,256
420,759 414,630
CREDITORS
Amounts falling due within one year 6 3,060 4,788
NET CURRENT ASSETS 417,699 409,842
TOTAL ASSETS LESS CURRENT
LIABILITIES

577,699

569,842

RESERVES
Income and expenditure account 577,699 569,842
577,699 569,842

PSYCHOLOGISTS' PROTECTION SOCIETY TRUST (REGISTERED NUMBER: SC382629)

BALANCE SHEET - continued
31 October 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 July 2024 and were signed on its behalf by:





Mr T W Cromey - Director


PSYCHOLOGISTS' PROTECTION SOCIETY TRUST (REGISTERED NUMBER: SC382629)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 October 2023

1. STATUTORY INFORMATION

Psychologists' Protection Society Trust is a private company, limited by guarantee , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

TURNOVER
Turnover is measured at the fair value of the consideration received in relation to membership fees excluding discounts where applicable. Annual membership fees are non refundable and are recognised in the month in which they are received. The period of cover varies for each individual member, determined by their initial joining date.

TAXATION
The society is a not for profit organisation run for the benefit of its members. The society is only subject to corporation tax on non-member income.

FOREIGN CURRENCIES
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

INVESTMENTS
Investments are initially recorded at cost.

At each reporting date investments are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

PSYCHOLOGISTS' PROTECTION SOCIETY TRUST (REGISTERED NUMBER: SC382629)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 October 2023

4. FIXED ASSET INVESTMENTS
Unlisted
investments
£   
COST
At 1 November 2022
and 31 October 2023 160,000
NET BOOK VALUE
At 31 October 2023 160,000
At 31 October 2022 160,000

Fixed asset investments comprise the share capital held in a protected cell company which has been setup to provide insurance cover to the Trust. Annual insurance premiums are paid by the Trust to the cell company in connection with professional indemnity and public liability cover.

The shareholding does not confer control and as a result the results of the protected cell company have not been incorporated into the accounts of the Trust.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Other debtors 98,746 85,374

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Other creditors 3,060 4,788

7. LIMITED BY GUARANTEE

The company is a private company limited by guarantee and consequently does not have share capital.

In the event of winding up every member undertakes to contribute an amount not exceeding £1.