15 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 9,280 5,623 14,903 2,951 2,853 5,804 9,099 6,329 xbrli:pure xbrli:shares iso4217:GBP 12324336 2023-04-01 2024-03-31 12324336 2024-03-31 12324336 2023-03-31 12324336 2022-04-01 2023-03-31 12324336 2023-03-31 12324336 2022-03-31 12324336 bus:Director2 2023-04-01 2024-03-31 12324336 core:WithinOneYear 2024-03-31 12324336 core:WithinOneYear 2023-03-31 12324336 core:RetainedEarningsAccumulatedLosses 2024-03-31 12324336 core:RetainedEarningsAccumulatedLosses 2023-03-31 12324336 bus:SmallEntities 2023-04-01 2024-03-31 12324336 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 12324336 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 12324336 bus:CompanyLimitedByGuarantee 2023-04-01 2024-03-31 12324336 bus:FullAccounts 2023-04-01 2024-03-31 12324336 core:OfficeEquipment 2023-04-01 2024-03-31 12324336 core:OfficeEquipment 2023-03-31 12324336 core:OfficeEquipment 2024-03-31
COMPANY REGISTRATION NUMBER: 12324336
The Free Speech Union Limited
Company Limited by Guarantee
Filleted Unaudited Financial Statements
For the year ended
31 March 2024
The Free Speech Union Limited
Company Limited by Guarantee
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
6
9,099
6,329
Current assets
Debtors
7
29,726
16,296
Cash at bank and in hand
1,348,519
1,180,093
------------
------------
1,378,245
1,196,389
Creditors: amounts falling due within one year
8
1,017,869
856,121
------------
------------
Net current assets
360,376
340,268
---------
---------
Total assets less current liabilities
369,475
346,597
---------
---------
Capital and reserves
Profit and loss account
369,475
346,597
---------
---------
Members funds
369,475
346,597
---------
---------
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 income and retained earnings has not been delivered.
For the year ending 31 March 2024 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act 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 17 July 2024 , and are signed on behalf of the board by:
T D M Young
Director
Company registration number: 12324336
The Free Speech Union Limited
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is 85 Great Portland Street, London, W1W 7LT, England.
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.
Revenue
Income is included in the accounts net of Value Added Tax when the company becomes entitled to the income, the receipt is probable and can be quantified with reasonable accuracy. If these conditions are not met then the income is deferred. Specific policies apply to the following categories of income: (a) Membership income is deferred over the subscription year. (b) Donation income which specifies conditions of use or timing is deferred to the period in which the conditions are met.
Income tax
Current tax is recognised on 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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and 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:
Office equipment
-
25% straight line
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Company limited by guarantee
The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.
5. Staff costs
The average number of persons employed by the company during the year amounted to 15 (2023: 12 ).
The aggregate employment costs incurred during the year were:
2024
2023
£
£
Wages and salaries
737,051
547,496
Social security costs
81,177
64,328
Other pension costs
57,510
45,060
---------
---------
875,738
656,884
---------
---------
6. Tangible assets
Equipment
£
Cost
At 1 April 2023
9,280
Additions
5,623
--------
At 31 March 2024
14,903
--------
Depreciation
At 1 April 2023
2,951
Charge for the year
2,853
--------
At 31 March 2024
5,804
--------
Carrying amount
At 31 March 2024
9,099
--------
At 31 March 2023
6,329
--------
7. Debtors
2024
2023
£
£
Other debtors
29,726
16,296
--------
--------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
1,017,869
856,121
------------
---------