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REGISTERED NUMBER: SC155374 (Scotland)















Unaudited Financial Statements

for the Year Ended 31 January 2024

for

The Association for Project Safety
Limited

The Association for Project Safety
Limited (Registered number: SC155374)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


The Association for Project Safety
Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: A P Baker
B M Wilde
D J Addley
Ms C J Camilleri
M Snelling
S J Allwinkle
R Wilks
A L A Leslie





REGISTERED OFFICE: Suite 3
5 New Mart Place
Edinburgh
EH14 5AY





REGISTERED NUMBER: SC155374 (Scotland)





ACCOUNTANTS: MacMillan Craig
Chartered Accountants
100 Brand Street
Glasgow
G51 1DG

The Association for Project Safety
Limited (Registered number: SC155374)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 382,191 375,826
Investments 6 237,814 234,631
620,005 610,457

CURRENT ASSETS
Stocks 18,837 20,708
Debtors 7 29,970 21,245
Cash at bank and in hand 401,473 473,668
450,280 515,621
CREDITORS
Amounts falling due within one year 8 372,445 385,745
NET CURRENT ASSETS 77,835 129,876
TOTAL ASSETS LESS CURRENT
LIABILITIES

697,840

740,333

RESERVES
Income and expenditure account 697,840 740,333
697,840 740,333

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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 Association for Project Safety
Limited (Registered number: SC155374)

Balance Sheet - continued
31 January 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 August 2024 and were signed on its behalf by:





M Snelling - Director


The Association for Project Safety
Limited (Registered number: SC155374)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

The Association for Project Safety Limited 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.

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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Included in turnover are members' annual subscriptions which run for 12 months from the date of acceptance as a member. Income is recognised in the period to which it relates and the proportion of subscriptions relating to future periods is included as subscriptions in advance within creditors.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


The Association for Project Safety
Limited (Registered number: SC155374)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Irrecoverable vat
The company is registered for VAT partially exempt status. Input VAT which cannot be recovered under the partial exemption rules is shown as irrecoverable VAT under expenditure.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 February 2023
and 31 January 2024 11,500
AMORTISATION
At 1 February 2023
and 31 January 2024 11,500
NET BOOK VALUE
At 31 January 2024 -
At 31 January 2023 -

The Association for Project Safety
Limited (Registered number: SC155374)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 February 2023 483,648 43,635 527,283
Additions - 19,468 19,468
At 31 January 2024 483,648 63,103 546,751
DEPRECIATION
At 1 February 2023 113,578 37,879 151,457
Charge for year 9,673 3,430 13,103
At 31 January 2024 123,251 41,309 164,560
NET BOOK VALUE
At 31 January 2024 360,397 21,794 382,191
At 31 January 2023 370,070 5,756 375,826

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 February 2023 234,631
Additions 239,700
Disposals (234,631 )
Revaluations (1,886 )
At 31 January 2024 237,814
NET BOOK VALUE
At 31 January 2024 237,814
At 31 January 2023 234,631

Cost or valuation at 31 January 2024 is represented by:

Other
investments
£   
Valuation in 2024 237,814

The Association for Project Safety
Limited (Registered number: SC155374)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 10,554 5,916
Prepayments and accrued income 19,416 15,329
29,970 21,245

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade creditors 16,753 17,307
Tax 3,850 -
Social security and other taxes 14,837 16,374
VAT 7,191 9,367
Accruals and deferred income 329,814 342,697
372,445 385,745

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.1.24 31.1.23
£    £   
Within one year 1,469 5,875
Between one and five years - 1,467
1,469 7,342