Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31true2023-01-01falsewas that of selling professional memberships.55true 00034278 2023-01-01 2023-12-31 00034278 2022-01-01 2022-12-31 00034278 2023-12-31 00034278 2022-12-31 00034278 c:Director11 2023-01-01 2023-12-31 00034278 d:PlantMachinery 2023-01-01 2023-12-31 00034278 d:OfficeEquipment 2023-01-01 2023-12-31 00034278 d:OfficeEquipment 2023-12-31 00034278 d:OfficeEquipment 2022-12-31 00034278 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 00034278 d:CurrentFinancialInstruments 2023-12-31 00034278 d:CurrentFinancialInstruments 2022-12-31 00034278 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 00034278 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 00034278 d:OtherMiscellaneousReserve 2023-12-31 00034278 d:OtherMiscellaneousReserve 2022-12-31 00034278 d:RetainedEarningsAccumulatedLosses 2023-12-31 00034278 d:RetainedEarningsAccumulatedLosses 2022-12-31 00034278 c:FRS102 2023-01-01 2023-12-31 00034278 c:Audited 2023-01-01 2023-12-31 00034278 c:FullAccounts 2023-01-01 2023-12-31 00034278 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 00034278 d:WithinOneYear 2023-12-31 00034278 d:WithinOneYear 2022-12-31 00034278 d:BetweenOneFiveYears 2023-12-31 00034278 d:BetweenOneFiveYears 2022-12-31 00034278 c:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 00034278 2 2023-01-01 2023-12-31 00034278 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 00034278










CONSUMER CREDIT TRADE ASSOCIATION










FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
CONSUMER CREDIT TRADE ASSOCIATION
REGISTERED NUMBER: 00034278

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
3,534
1,242

  
3,534
1,242

Current assets
  

Stocks
  
11,872
14,040

Debtors: amounts falling due within one year
 5 
150,285
195,086

Bank and cash balances
  
320,890
337,770

  
483,047
546,896

Current liabilities
  

Creditors: amounts falling due within one year
 6 
(306,362)
(377,452)

Net current assets
  
 
 
176,685
 
 
169,444

Total assets less current liabilities
  
180,219
170,686

  

Net assets
  
180,219
170,686


Capital and reserves
  

Other reserves
  
150,000
50,000

Profit and loss account
  
30,219
120,686

  
180,219
170,686


Page 1

 
CONSUMER CREDIT TRADE ASSOCIATION
REGISTERED NUMBER: 00034278
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
J Wassell
Director

Date: 17 September 2024

Page 2

 
CONSUMER CREDIT TRADE ASSOCIATION
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Consumer Credit Trade Association is a private company limited by guarantee incorporated in England and Wales. The registered office is 11 Merus Court, Meridian Business Park, Leicester, LE19 1RJ.
Principal activity
The principal activity of the Company during the period was that of selling professional memberships.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

These financial statements have been prepared in accordance with 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 disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The Company's functional and presentational currency is British Pound Sterling (£).

The following principal accounting policies have been applied:

 
2.2

Going concern

The Company is a trade association, directed and primarily funded by the members. The Company model will adapt to their requirements and in line with the finances provided by the members, with additional revenue from services provided to non-member firms. 
 
Financial reserves have been increased to ensure greater stability and flexibility to adapt to future challenges. 
 
On this basis, the directors have considered it appropriate to adopt the going concern basis in the preparation of the financial statements.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
CONSUMER CREDIT TRADE ASSOCIATION
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Profit and Loss Account on a straight-line basis over the lease term.

 
2.5

Interest income

Interest income is recognised in the Profit and Loss Account using the effective interest method.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Profit and Loss Account when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
straight line per annum
Office equipment
-
33%
straight line per annum

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Profit and Loss Account.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Profit and Loss Account.

Page 4

 
CONSUMER CREDIT TRADE ASSOCIATION
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at transaction price, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at transaction price, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Financial instruments

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

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at transactions price, net of transaction costs and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.
 
Page 5

 
CONSUMER CREDIT TRADE ASSOCIATION
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.12
Financial instruments (continued)


Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.


3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2022 - 5).

Page 6

 
CONSUMER CREDIT TRADE ASSOCIATION
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 January 2023
34,356


Additions
3,117



At 31 December 2023

37,473



Depreciation


At 1 January 2023
33,114


Charge for the year
825



At 31 December 2023

33,939



Net book value



At 31 December 2023
3,534



At 31 December 2022
1,242


5.


Debtors

2023
2022
£
£


Trade debtors
149,839
192,821

Other debtors
446
2,265

150,285
195,086


Page 7

 
CONSUMER CREDIT TRADE ASSOCIATION
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
10,858
24,878

Other taxation and social security
35,459
34,474

Other creditors
260,045
318,100

306,362
377,452



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.







8.


Commitments under operating leases

At 31 December 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
5,470
5,470

Later than 1 year and not later than 5 years
-
5,470

5,470
10,940


9.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 23 September 2024 by Neil Baldwin (Senior Statutory Auditor) on behalf of BHP LLP.

 
Page 8