REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
FOR |
PSYCHOLOGISTS' PROTECTION SOCIETY TRUST |
REGISTERED NUMBER: |
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: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
RESERVES |
Income and expenditure account | 569,842 |
PSYCHOLOGISTS' PROTECTION SOCIETY TRUST (REGISTERED NUMBER: SC382629) |
BALANCE SHEET - continued |
31 October 2023 |
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. |
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 |
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 |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
BASIS OF PREPARING THE FINANCIAL STATEMENTS |
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 |
NET BOOK VALUE |
At 31 October 2023 |
At 31 October 2022 |
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 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
as restated |
£ | £ |
Other creditors |
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. |