The British Arrows Awards Limited
A Company Limited by Guarantee
Unaudited Financial Statements
For the year ended 31 March 2024
Pages for Filing with Registrar
Company Registration No. 12311819 (England and Wales)
The British Arrows Awards Limited
A Company Limited by Guarantee
Company Information
Directors
A Batz
M Benson
R Brim
S Cooper
C Crompton
C Donald
D Edwards
J Guest
D Karbassioun
S Lane
D Monk
L Pavey
C Sobhani
D C Thomas
K Keith
R Denney
C Sinclair
M Sylvester
A Grieve
L Lavender
(Appointed 20 April 2023)
Secretary
L Lavender
Company number
12311819
Registered office
6th Floor, Charlotte Building
17 Gresse Street
London
United Kingdom
W1T 1QL
Accountants
Moore Kingston Smith LLP
Charlotte Building
17 Gresse Street
London
W1T 1QL
The British Arrows Awards Limited
A Company Limited by Guarantee
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
The British Arrows Awards Limited
A Company Limited by Guarantee
Balance Sheet
As at 31 March 2024
Page 1
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
3,803
1,757
Current assets
Debtors
4
75,267
103,081
Cash at bank and in hand
579,259
722,786
654,526
825,867
Creditors: amounts falling due within one year
5
(485,071)
(577,370)
Net current assets
169,455
248,497
Total assets less current liabilities
173,258
250,254
Creditors: amounts falling due after more than one year
6
(13,949)
(24,111)
Net assets
159,309
226,143
Reserves
Income and expenditure account
159,309
226,143
Members' funds
159,309
226,143
The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The British Arrows Awards Limited
A Company Limited by Guarantee
Balance Sheet (Continued)
As at 31 March 2024
Page 2
The financial statements were approved by the board of directors and authorised for issue on 7 August 2024 and are signed on its behalf by:
S Cooper
L Lavender
Director
Director
Company Registration No. 12311819
The British Arrows Awards Limited
A Company Limited by Guarantee
Notes to the Financial Statements
For the year ended 31 March 2024
Page 3
1
Accounting policies
Company information
The British Arrows Awards Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is 6th Floor, Charlotte Building, 17 Gresse Street, London, United Kingdom, W1T 1QL.
1.1
Accounting convention
These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Income and expenditure
Income and expenses are included in the financial statements as they become receivable or due.
Expenses include VAT where applicable as the company cannot reclaim it.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
33% straight line basis
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to surplus or deficit.
1.5
Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.6
Financial instruments
The company only has basic financial instruments measured at amortised cost, with no financial instruments classified as other, or basic financial instruments measured at fair value.
The British Arrows Awards Limited
A Company Limited by Guarantee
Notes to the Financial Statements (Continued)
For the year ended 31 March 2024
1
Accounting policies
(Continued)
Page 4
1.7
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.8
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.9
The British Arrows Awards Limited is a company limited by guarantee. The Memorandum of Association restricts the liability of members on winding up to £1 unless their liability becomes unlimited through contravention of the Memorandum.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
4
6
The British Arrows Awards Limited
A Company Limited by Guarantee
Notes to the Financial Statements (Continued)
For the year ended 31 March 2024
Page 5
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023
4,187
Additions
3,928
At 31 March 2024
8,115
Depreciation and impairment
At 1 April 2023
2,430
Depreciation charged in the year
1,882
At 31 March 2024
4,312
Carrying amount
At 31 March 2024
3,803
At 31 March 2023
1,757
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
51,066
22,278
Corporation tax recoverable
11,071
Other debtors
13,130
80,803
75,267
103,081
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
10,162
9,911
Trade creditors
57,406
69,301
Corporation tax
11,033
Other taxation and social security
49,206
50,261
Other creditors
182,352
211,648
Accruals and deferred income
185,945
225,216
485,071
577,370
The British Arrows Awards Limited
A Company Limited by Guarantee
Notes to the Financial Statements (Continued)
For the year ended 31 March 2024
Page 6
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
13,949
24,111
7
Members' liability
The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.