Silverfin false false 30/04/2024 01/05/2023 30/04/2024 Rodney Hugh Dowler 23/03/2000 Diana Hilary Sternfeld 01/06/2015 Joanna Wyer 01/06/2015 17 September 2024 The principal activity of the Company during the financial year was to facilitate consultation and dialogue between the world of business and government, and to promote the development of business related policies. 03745317 2024-04-30 03745317 bus:Director1 2024-04-30 03745317 bus:Director2 2024-04-30 03745317 bus:Director3 2024-04-30 03745317 2023-04-30 03745317 core:CurrentFinancialInstruments 2024-04-30 03745317 core:CurrentFinancialInstruments 2023-04-30 03745317 core:ShareCapital 2024-04-30 03745317 core:ShareCapital 2023-04-30 03745317 core:RetainedEarningsAccumulatedLosses 2024-04-30 03745317 core:RetainedEarningsAccumulatedLosses 2023-04-30 03745317 core:OtherPropertyPlantEquipment 2023-04-30 03745317 core:OtherPropertyPlantEquipment 2024-04-30 03745317 bus:OrdinaryShareClass1 2024-04-30 03745317 2023-05-01 2024-04-30 03745317 bus:FilletedAccounts 2023-05-01 2024-04-30 03745317 bus:SmallEntities 2023-05-01 2024-04-30 03745317 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 03745317 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 03745317 bus:Director1 2023-05-01 2024-04-30 03745317 bus:Director2 2023-05-01 2024-04-30 03745317 bus:Director3 2023-05-01 2024-04-30 03745317 core:OtherPropertyPlantEquipment core:TopRangeValue 2023-05-01 2024-04-30 03745317 2022-05-01 2023-04-30 03745317 core:OtherPropertyPlantEquipment 2023-05-01 2024-04-30 03745317 core:CurrentFinancialInstruments 2023-05-01 2024-04-30 03745317 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 03745317 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 03745317 1 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 03745317 (England and Wales)

THE INDUSTRY FORUM LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

THE INDUSTRY FORUM LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

THE INDUSTRY FORUM LIMITED

COMPANY INFORMATION

For the financial year ended 30 April 2024
THE INDUSTRY FORUM LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 April 2024
DIRECTORS Rodney Hugh Dowler
Diana Hilary Sternfeld
Joanna Wyer
SECRETARY Joanna Wyer
REGISTERED OFFICE 20 St. Andrew Street
London
EC4A 3AG
England
United Kingdom
COMPANY NUMBER 03745317 (England and Wales)
CHARTERED ACCOUNTANTS Praxis
1 Poultry
London
EC2R 8EJ
United Kingdom
THE INDUSTRY FORUM LIMITED

BALANCE SHEET

As at 30 April 2024
THE INDUSTRY FORUM LIMITED

BALANCE SHEET (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 587 925
587 925
Current assets
Debtors 4 1,856 7,126
Cash at bank and in hand 36,783 26,390
38,639 33,516
Creditors: amounts falling due within one year 5 ( 31,772) ( 28,536)
Net current assets 6,867 4,980
Total assets less current liabilities 7,454 5,905
Net assets 7,454 5,905
Capital and reserves
Called-up share capital 6 100 100
Profit and loss account 7,354 5,805
Total shareholders' funds 7,454 5,905

For the financial year ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of The Industry Forum Limited (registered number: 03745317) were approved and authorised for issue by the Board of Directors on 17 September 2024. They were signed on its behalf by:

Rodney Hugh Dowler
Director
THE INDUSTRY FORUM LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
THE INDUSTRY FORUM LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

The Industry Forum Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 20 St. Andrew Street, London, EC4A 3AG, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date, turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
The Company is a not for profit mutual association and accordingly tax is only paid on investment income.

Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 May 2023 17,996 17,996
Additions 95 95
At 30 April 2024 18,091 18,091
Accumulated depreciation
At 01 May 2023 17,071 17,071
Charge for the financial year 433 433
At 30 April 2024 17,504 17,504
Net book value
At 30 April 2024 587 587
At 30 April 2023 925 925

4. Debtors

2024 2023
£ £
Trade debtors 1,800 7,020
Other debtors 56 106
1,856 7,126

5. Creditors: amounts falling due within one year

2024 2023
£ £
Other taxation and social security 3,247 2,589
Other creditors 28,525 25,947
31,772 28,536

There are no amounts included above in respect of which any security has been given by the small entity.

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

7. Financial commitments

The Company had no material commitments at the year ended 30 April 2024.

8. Events after the Balance Sheet date

There have been no events after the balance sheet date affecting the Company since the financial year.