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Registration number: 01469941

Association of British Healthtech Industries Limited

(A company limited by guarantee)

Filleted Financial Statements

for the Year Ended 31 December 2023

 

Association of British Healthtech Industries Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 7

 

Association of British Healthtech Industries Limited

Company Information

Directors

Andrew Robert Davies

Michael John Fairbourn

Nishanthan Sunthareswaran

James Robert Urie

Philip Andrew Kennedy

Antony David Bellis

Peter Ellingworth

Neil Harris

Christopher James Hudson

Peter Worrallo

Hugo Breda

Stephanie Bolton

Richard Devereaux Phillips

Sarah Jane Lewis

Ms Luella Mary Trickett

Company secretary

Sarah Jane Lewis

Registered office

Suite 2
4th Floor
1 Duchess Street
London
W1W 6AN

Auditors

Brooks Carling Accountants Limited
Highview House
1st Floor
Tattenham Crescent
Epson
Surrey
KT18 5QJ

 

Association of British Healthtech Industries Limited

(Registration number: 01469941)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

11,449

12,703

Current assets

 

Debtors

5

2,649,230

2,972,715

Cash at bank and in hand

 

3,817,297

4,400,846

 

6,466,527

7,373,561

Creditors: Amounts falling due within one year

6

(5,803,030)

(6,727,207)

Net current assets

 

663,497

646,354

Total assets less current liabilities

 

674,946

659,057

Provisions for liabilities

(10,366)

(5,373)

Net assets

 

664,580

653,684

Capital and reserves

 

Profit and loss account

664,580

653,684

Shareholders' funds

 

664,580

653,684

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 16 September 2024 and signed on its behalf by:
 

.........................................
Philip Andrew Kennedy
Director

 

Association of British Healthtech Industries Limited

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

1

General information

The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £25 towards the assets of the company in the event of liquidation.

The address of its registered office is:
Suite 2
4th Floor
1 Duchess Street
London
W1W 6AN

These financial statements were authorised for issue by the Board on 16 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The Covid-19 pandemic has created significant operational and financial pressures on the Company. However, having considered the contingency plans in place, the support to businesses announced by the UK Government and having reviewed updated cashflow forecasts, the directors consider the adoption of the going concern basis in preparing these financial statements is appropriate.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the running of exhibitions/events and the selling of membership subscriptions in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Association of British Healthtech Industries Limited

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

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

Straight line over 3 years

Short-term leasehold property

Straight line over the life of the lease

Amortisation

Asset class

Amortisation method and rate

Salesforce

Straight line over 3 years

Virtual Pavillion

Straight line over 12 months

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Association of British Healthtech Industries Limited

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

The Company only enters into basic financial instrument transactions that resut in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from bank and other third parties, loans and related parties and investments in ordinary shares.
 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 17 (2022 - 16).

 

Association of British Healthtech Industries Limited

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

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2023

19,895

19,895

Additions

7,454

7,454

Disposals

(1,462)

(1,462)

At 31 December 2023

25,887

25,887

Depreciation

At 1 January 2023

7,192

7,192

Charge for the year

7,774

7,774

Eliminated on disposal

(528)

(528)

At 31 December 2023

14,438

14,438

Carrying amount

At 31 December 2023

11,449

11,449

At 31 December 2022

12,703

12,703

5

Debtors

Current

2023
£

2022
£

Trade debtors

1,373,153

1,440,151

Prepayments

1,246,939

1,479,189

Other debtors

29,138

53,375

 

2,649,230

2,972,715

 

Association of British Healthtech Industries Limited

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

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

209,223

940,401

Taxation and social security

691,743

831,950

Accruals and deferred income

4,742,833

4,770,122

Other creditors

159,231

184,734

5,803,030

6,727,207

7

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £131,182 (2022 - £214,033). These commitments relate to the rental contract for the company's fixed premises. As of the reporting date, there are 19 months of rental remaining that the company has committed to.

8

Audit information

Audit report

The Independent Auditor's Report was unqualified. . The name of the Senior Statutory Auditor who signed the audit report on 16 September 2024 was David Earwicker FCA, who signed for and on behalf of Brooks Carling Accountants Limited.