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REGISTERED NUMBER: 00419382 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 December 2023

for

The Philatelic Traders' Society Limited

The Philatelic Traders' Society Limited (Registered number: 00419382)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


The Philatelic Traders' Society Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: M Bloxham
S Carson
S J Rae





REGISTERED OFFICE: Roland House
Princes Dock Street
Hull
HU1 2LD





REGISTERED NUMBER: 00419382 (England and Wales)





ACCOUNTANTS: Try Lunn & Co
Chartered Accountants
Roland House
Princes Dock Street
HULL HU1 2LD

The Philatelic Traders' Society Limited (Registered number: 00419382)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2,946 3,299
Tangible assets 5 - -
Investments 6 101 101
3,047 3,400

CURRENT ASSETS
Debtors 7 54,107 76,878
Cash at bank and in hand 145,761 123,120
199,868 199,998
CREDITORS
Amounts falling due within one year 8 11,203 23,530
NET CURRENT ASSETS 188,665 176,468
TOTAL ASSETS LESS CURRENT
LIABILITIES

191,712

179,868

RESERVES
Income and expenditure account 9 191,712 179,868
191,712 179,868

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 July 2024 and were signed on its behalf by:




S J Rae - Director


The Philatelic Traders' Society Limited (Registered number: 00419382)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

The Philatelic Traders' Society Limited is a private company, limited by guarantee , registered in England and Wales. 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.

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

Membership subscriptions are measured at the fair value of the subscriptions attributable to the financial year.

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

The trade mark of The Philatelic Traders' Society Limited is depreciated over its expected useful life of 25 years.

The trade mark of Stampex is depreciated over its expected useful life of 10 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

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.

Deferred tax
Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

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.

The Philatelic Traders' Society Limited (Registered number: 00419382)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023
and 31 December 2023 4,842
AMORTISATION
At 1 January 2023 1,543
Charge for year 353
At 31 December 2023 1,896
NET BOOK VALUE
At 31 December 2023 2,946
At 31 December 2022 3,299

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023
and 31 December 2023 149
DEPRECIATION
At 1 January 2023
and 31 December 2023 149
NET BOOK VALUE
At 31 December 2023 -

The Philatelic Traders' Society Limited (Registered number: 00419382)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 226
PROVISIONS
At 1 January 2023
and 31 December 2023 125
NET BOOK VALUE
At 31 December 2023 101
At 31 December 2022 101

The company's investments at the Balance Sheet date in the share capital of companies include the following:


P T S Expertising Limited
Registered office:
Nature of business: Expertisation services for stamps
%
Class of shares: holding
Ordinary 100.00
2023 2022
£    £   
Aggregate capital and reserves 1,597 2,780
(Loss)/profit for the year (1,183 ) 593

PTS Stamp & Coin Exhibitions Limited
Registered office:
Nature of business: Promotion and exhibition of stamps
%
Class of shares: holding
Ordinary shares 100.00
2023 2022
£    £   
Aggregate capital and reserves (32,594 ) (32,594 )

7. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 14,196 13,168
Other debtors 21,664 42,549
35,860 55,717

The Philatelic Traders' Society Limited (Registered number: 00419382)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. DEBTORS - continued
2023 2022
£    £   
Amounts falling due after more than one year:
Other debtors 18,247 21,161

Aggregate amounts 54,107 76,878

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 839 12,639
Taxation and social security - 190
Other creditors 10,364 10,701
11,203 23,530

9. RESERVES
Income
and
expenditure
account
£   

At 1 January 2023 179,868
Surplus for the year 11,844
At 31 December 2023 191,712

10. RELATED PARTY DISCLOSURES

On 1 January 2023 the trade, assets and liabilities of PTS Stamp & Coin Exhibitions Limited, a 100% owned subsidiary of The Philatelic Traders' Society Limited, were transferred to the company under a hive up agreement , for the consideration of £1. At 31 December 2023 £32,594 was owed from PTS Stamp & Coin Exhibitions Limited, The full amount of this debt has been provided against in these accounts.

During the year the company sold services of £6,083 (2022 £4,431) to Mark Bloxham Stamps Limited a company of which M Bloxham is a Director. At 31 December 2023 £nil (2022, £nil) was owed to the company by Mark Bloxham Stamps Limited.

During the year the company sold services of £3,424 (2022 £2,582) to Philangles Limited, a company of which S Carson is a Director. These transactions were on normal commercial terms. At 31 December 2023 £nil (2010 £nil) was owed to the company by Philangles Limited.

During the year the company sold services of £360 (2022 £165) to Art Stamped Limited a company of which S Rae is a Director. These transactions were on normal commercial terms. At 31 December 2023 £nil (2022 £nil) was owed to the company by Art Stamped Limited.

11. LIMITED BY GUARANTEE

The company is limited by guarantee.