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Registration number: 08632556

Independent Custody Visiting Association

Annual Report and Unaudited Financial Statements

Year Ended 31 March 2024

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Chartered Accountants

 

Independent Custody Visiting Association

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 6

 

Independent Custody Visiting Association

Company Information

Directors

Miss K M Beaumont

Mrs E K Dallinger

Mrs N Byrne

Mrs R M Ellul

Mr M Bin-Sufyan

Mrs E Pout

Ms K Scott

Mrs E Spurrell

Miss R Waldron

Dame A E Owers

Company secretary

Miss Sherry Ralph

Registered office

Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA

Accountants

Edwards & Keeping
Chartered Accountants
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Independent Custody Visiting Associationfor the Year Ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Independent Custody Visiting Association for the year ended 31 March 2024 as set out on pages 3 to 6 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Independent Custody Visiting Association, as a body, in accordance with the terms of our engagement letter dated 9 August 2019. Our work has been undertaken solely to prepare for your approval the accounts of Independent Custody Visiting Association and state those matters that we have agreed to state to the Board of Directors of Independent Custody Visiting Association, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Independent Custody Visiting Association and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Independent Custody Visiting Association has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Independent Custody Visiting Association. You consider that Independent Custody Visiting Association is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Independent Custody Visiting Association. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.






Edwards & Keeping
Chartered Accountants
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA

1 October 2024

 

Independent Custody Visiting Association

(Registration number: 08632556)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

4,594

5,081

Current assets

 

Debtors

6

80,508

92,468

Cash at bank and in hand

 

144,135

121,211

 

224,643

213,679

Creditors: Amounts falling due within one year

7

(57,249)

(53,874)

Net current assets

 

167,394

159,805

Total assets less current liabilities

 

171,988

164,886

Provisions for liabilities

-

(17,850)

Net assets

 

171,988

147,036

Reserves

 

Retained earnings

171,988

147,036

Surplus

 

171,988

147,036

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 1 October 2024 and signed on its behalf by:
 



Dame A E Owers
Director

 

Independent Custody Visiting Association

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2024

1

General information

The company is a company limited by guarantee, incorporated in England and Wales.

The address of its registered office is:
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA
England

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services 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.

Government grants

Grant income is recognised when there is reasonable assurance that the company will comply with the grant conditions and the grant will be received. The grant is recognised as income over the period necessary to match it with the related expenditure it is intended to compensate.

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

Office equipment

33.3% straight line method

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.

 

Independent Custody Visiting Association

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2024

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.

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.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 2).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

2,459

711

Government grants receivable

(125,000)

(125,000)

 

Independent Custody Visiting Association

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2024

5

Tangible assets

Office equipment
£

Cost

At 1 April 2023

10,381

Additions

1,972

At 31 March 2024

12,353

Depreciation

At 1 April 2023

5,300

Charge for the year

2,459

At 31 March 2024

7,759

Carrying amount

At 31 March 2024

4,594

At 31 March 2023

5,081

6

Debtors

Current

2024
£

2023
£

Trade debtors

78,800

80,000

Prepayments

1,708

12,096

Other debtors

-

372

 

80,508

92,468

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

11,154

8,008

Accruals and deferred income

45,866

45,800

Other creditors

229

66

57,249

53,874