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REGISTERED NUMBER: 10566132 (England and Wales)















SOCIETY OF LOCAL COUNCIL CLERKS

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






SOCIETY OF LOCAL COUNCIL CLERKS (REGISTERED NUMBER: 10566132)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Statement of Changes in Equity 4

Notes to the Financial Statements 5


SOCIETY OF LOCAL COUNCIL CLERKS

COMPANY INFORMATION
for the Year Ended 31 DECEMBER 2023







DIRECTORS: Mrs T A Davis
Mr E J Humphreys
Mr A J Keppel-Green
Mr M A King
Ms G E Lopes
Mr D J Martin
Mr S C Trice
Ms H Ball
Mr L M Dunkley
Ms C J Earley
Ms T L Godden
Ms B E Boyer
Mr P Rowe
Ms L Larter
Mr I Morris
Mr L Thatcher
Ms C Evans
Ms S Jones





REGISTERED OFFICE: Suite 2.01
Collar Factory
112 St Augustine Street
Taunton
Somerset
TA1 1QN





REGISTERED NUMBER: 10566132 (England and Wales)





ACCOUNTANTS: Wallace Crooke
Chartered Accountants
College House
St. Leonards Close
Bridgnorth
Shropshire
WV16 4EJ

SOCIETY OF LOCAL COUNCIL CLERKS (REGISTERED NUMBER: 10566132)

BALANCE SHEET
31 DECEMBER 2023

31/12/23 31/12/22
as restated
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,019 -
Investments 5 10,000 10,000
12,019 10,000

CURRENT ASSETS
Debtors 6 620,587 570,117
Investments 7 - 100,000
Cash at bank and in hand 382,285 263,482
1,002,872 933,599
CREDITORS
Amounts falling due within one year 8 567,097 460,479
NET CURRENT ASSETS 435,775 473,120
TOTAL ASSETS LESS CURRENT
LIABILITIES

447,794

483,120

RESERVES
Infrastructure reserve fund - 40,787
Qualification development reserve fund 43,813 43,813
Income and expenditure account 403,981 398,520
447,794 483,120

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.

SOCIETY OF LOCAL COUNCIL CLERKS (REGISTERED NUMBER: 10566132)

BALANCE SHEET - continued
31 DECEMBER 2023


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 27 June 2024 and were signed on its behalf by:





Mr A J Keppel-Green - Director


SOCIETY OF LOCAL COUNCIL CLERKS (REGISTERED NUMBER: 10566132)

STATEMENT OF CHANGES IN EQUITY
for the Year Ended 31 DECEMBER 2023

Qualification
Infrastructure development
Retained reserve reserve Total
earnings fund fund equity
£    £    £    £   
Balance at 1 January 2022 364,134 40,787 43,813 448,734

Changes in equity
Total comprehensive income 147,364 - - 147,364
Balance at 31 December 2022 511,498 40,787 43,813 596,098
Prior year adjustment (112,978 ) - - (112,978 )
As restated 398,520 40,787 43,813 483,120

Changes in equity
Total comprehensive income 5,461 (40,787 ) - (35,326 )
Balance at 31 December 2023 403,981 - 43,813 447,794

SOCIETY OF LOCAL COUNCIL CLERKS (REGISTERED NUMBER: 10566132)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 DECEMBER 2023

1. STATUTORY INFORMATION

Society of Local Council Clerks is a private limited 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.

The company's financial statements are presented in Sterling and all values are rounded to the nearest pound.

Preparation of consolidated financial statements
The financial statements contain information about Society of Local Council Clerks as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 20% on cost
Office equipment - 33% on cost, 20% on cost and 10% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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 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.

SOCIETY OF LOCAL COUNCIL CLERKS (REGISTERED NUMBER: 10566132)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to surplus or deficit on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The Society is a participating member of a multi-employer defined benefit pension scheme. The pension scheme is accounted for as if it were a defined contribution plan, as insufficient information is available to account for the pension scheme as a defined benefit plan, and the Society has entered into an agreement with the multi-employer plan that determines how the Society will fund a deficit. The Society has recognised the liability for the contributions payable that arise from the deficit funding agreement and the resulting expense to the profit and loss.

Fund accounting
General funds can be used in accordance with the objectives of the Society at the discretion of the Board.

Infrastructure fund
The Society's Infrastructure Reserve exists to support the procurement, development, replacement and non-routine maintenance of the Society's premises, IT and telecommunications infrastructure, to the extent that costs cannot be managed within annual budgets. The Infrastructure Reserve is sustained through contributions from the annual budget and ad hoc shares of annual surpluses at the discretion of the Chief Executive and Board.

Qualification development fund
The Society's Qualification Development Fund exists to support any qualification developments which are necessary to update any of the courses, ran by the Society, in line with the relevant laws and legislation. The Qualification Development Fund is sustained through specific split of course fees designated to each specific course, as well as additional ad hoc share of annual surpluses at the discretion of the Chief Executive and Board.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 65 (2022 - 44 ) .

4. TANGIBLE FIXED ASSETS
Improvements
to Office
property equipment Totals
£    £    £   
COST
At 1 January 2023 27,792 125,890 153,682
Additions - 2,524 2,524
At 31 December 2023 27,792 128,414 156,206
DEPRECIATION
At 1 January 2023 27,792 125,890 153,682
Charge for year - 505 505
At 31 December 2023 27,792 126,395 154,187
NET BOOK VALUE
At 31 December 2023 - 2,019 2,019
At 31 December 2022 - - -

SOCIETY OF LOCAL COUNCIL CLERKS (REGISTERED NUMBER: 10566132)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 DECEMBER 2023

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 10,000
NET BOOK VALUE
At 31 December 2023 10,000
At 31 December 2022 10,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
as restated
£    £   
Trade debtors 195,088 143,412
Amounts owed by group undertakings 416,484 422,563
Other debtors 3,000 -
Prepayments and accrued income 6,015 4,142
620,587 570,117

7. CURRENT ASSET INVESTMENTS
31/12/23 31/12/22
as restated
£    £   
SCC Comfund investment - 100,000

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
as restated
£    £   
Trade creditors 474,424 322,280
Taxation and social security 25,665 63,792
Other creditors 67,008 74,407
567,097 460,479

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31/12/23 31/12/22
as restated
£    £   
Within one year 15,000 -