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REGISTERED NUMBER: 03027072 (England and Wales)













Financial Statements

for the Year Ended 31 December 2023

for

Surrey Chambers of Commerce Limited

Surrey Chambers of Commerce Limited (Registered number: 03027072)






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


Surrey Chambers of Commerce Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: S B Coburn
D W Morgan
Ms L M Punter
W Sadler
M Turner
H J Ockrim
Ms M Robins
Ms A M Galvin





SECRETARY: Ms T M Wavre





REGISTERED OFFICE: Unit 14A
Monument Way East
Woking
Surrey
GU21 5LY





REGISTERED NUMBER: 03027072 (England and Wales)





AUDITORS: Bennewith 2018 Limited (Statutory Auditors)
Upper Ground Floor
18 Farnham Road
Guildford
Surrey
GU1 4XA

Surrey Chambers of Commerce Limited (Registered number: 03027072)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,343 6,428

CURRENT ASSETS
Debtors 5 95,828 84,007
Cash at bank and in hand 138,697 125,496
234,525 209,503
CREDITORS
Amounts falling due within one year 6 164,997 167,255
NET CURRENT ASSETS 69,528 42,248
TOTAL ASSETS LESS CURRENT LIABILITIES 73,871 48,676

RESERVES
Income and expenditure account 73,871 48,676
73,871 48,676

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 20 August 2024 and were signed on its behalf by:





Ms L M Punter - Director


Surrey Chambers of Commerce Limited (Registered number: 03027072)

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

1. STATUTORY INFORMATION

Surrey Chambers of Commerce 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
General sponsorship is recognised upon receipt. Grant income is recognised as the related expenditure is incurred and the organisation attains the right to the consideration through performance of the grant conditions, Income from other sources, including membership subscriptions, is recognised in accordance with the period to which it relates. As such, membership subscriptions are spread over a period of twelve months from the invoice date.

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 - Straight line over 3 years

Surrey Chambers of Commerce Limited (Registered number: 03027072)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price unless the
arrangement constitutes a financing transaction.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Going concern
The financial statements have been prepared on a going concern basis. The directors have considered the relevant information including the annual budget and forecasts (including cash flows) for the next 12 months and have considered the company's ability to meet its liabilities as they fall due, based upon the information available to the directors at the date of these financial statements.

On the basis of the above, the directors therefore 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 these financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 9 ) .

Surrey Chambers of Commerce Limited (Registered number: 03027072)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 30,470
Additions 1,834
At 31 December 2023 32,304
DEPRECIATION
At 1 January 2023 24,042
Charge for year 3,919
At 31 December 2023 27,961
NET BOOK VALUE
At 31 December 2023 4,343
At 31 December 2022 6,428

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 75,217 70,773
Other debtors 20,611 13,234
95,828 84,007

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 12,992 23,484
Taxation and social security 34,871 25,784
Other creditors 117,134 117,987
164,997 167,255

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.23 31.12.22
£    £   
Within one year 4,773 3,866
Between one and five years 8,352 -
13,125 3,866

Surrey Chambers of Commerce Limited (Registered number: 03027072)

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

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

A J Bennewith FCA (Senior Statutory Auditor)
for and on behalf of Bennewith 2018 Limited (Statutory Auditors)

9. LIMITED BY GUARANTEE

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.