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REGISTERED NUMBER: 03070049 (England and Wales)


















The Association of Property and Fixed
Charge Receivers

Unaudited Financial Statements

for the Year Ended 31st December 2023






The Association of Property and Fixed
Charge Receivers (Registered number: 03070049)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


The Association of Property and Fixed
Charge Receivers

Company Information
for the Year Ended 31st December 2023







DIRECTORS: H E Swainson
D I Robertson
P T Joseph
V C M Liddell
P Loveday
E C Black
P Collis
D G Eden
D K Foskett
S L Harding
M D W Hardy





SECRETARY: B J N Moon





REGISTERED OFFICE: 12 Bridgford Road
West Bridgford
Nottingham
NG2 6AB





REGISTERED NUMBER: 03070049 (England and Wales)





ACCOUNTANTS: Brooks Mayfield Limited
Chartered Accountants
12 Bridgford Road
West Bridgford
Nottinghamshire
NG2 6AB

The Association of Property and Fixed
Charge Receivers (Registered number: 03070049)

Balance Sheet
31st December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 5 363 725

CURRENT ASSETS
Debtors 6 33,495 44,534
Cash at bank 219,394 209,207
252,889 253,741
CREDITORS
Amounts falling due within one year 7 (78,682 ) (87,628 )
NET CURRENT ASSETS 174,207 166,113
TOTAL ASSETS LESS CURRENT
LIABILITIES

174,570

166,838

RESERVES
Income and expenditure account 174,570 166,838
174,570 166,838

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

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

The financial statements were approved by the Board of Directors and authorised for issue on 25th September 2024 and were signed on its behalf by:





D I Robertson - Director


The Association of Property and Fixed
Charge Receivers (Registered number: 03070049)

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

1. STATUTORY INFORMATION

The Association of Property and Fixed Charge Receivers 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sales of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

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 - 20% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 2 ) .

The Association of Property and Fixed
Charge Receivers (Registered number: 03070049)

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

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st January 2023
and 31st December 2023 18,774
DEPRECIATION
At 1st January 2023 18,049
Charge for year 362
At 31st December 2023 18,411
NET BOOK VALUE
At 31st December 2023 363
At 31st December 2022 725

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 27,407 39,322
Other debtors 6,088 5,212
33,495 44,534

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 8,306 13,618
Taxation and social security 15,159 14,129
Other creditors 55,217 59,881
78,682 87,628

8. COMPANY LIMITED BY GUARANTEE

The company is limited by guarantee and has no share capital.

Every member of the company undertakes to contribute to the assets of the company, In the event of a winding up, such an amount as may be required not exceeding £1.