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REGISTERED NUMBER: 03117166 (England and Wales)















THE ASSOCIATION OF 16MM NARROW GAUGE
MODELLERS

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024






THE ASSOCIATION OF 16MM NARROW GAUGE
MODELLERS (REGISTERED NUMBER: 03117166)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THE ASSOCIATION OF 16MM NARROW GAUGE
MODELLERS

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: A P Finch
I C Harper
R Nipper
T Rowland
C Trotman





SECRETARY: A J Mountfield





REGISTERED OFFICE: 45 Hollow Wood
Olney
MK46 4LZ





REGISTERED NUMBER: 03117166 (England and Wales)





ACCOUNTANTS: Jane Maynard Limited
T/A Maynard Johns
37 Mill Street
Bideford
DEVON
EX39 2JJ

THE ASSOCIATION OF 16MM NARROW GAUGE
MODELLERS (REGISTERED NUMBER: 03117166)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 3,057 3,843

CURRENT ASSETS
Stocks 5 4,060 5,993
Debtors 6 30,469 31,894
Cash at bank 42,248 57,418
76,777 95,305
CREDITORS
Amounts falling due within one year 7 (16,732 ) (17,795 )
NET CURRENT ASSETS 60,045 77,510
TOTAL ASSETS LESS CURRENT
LIABILITIES

63,102

81,353

RESERVES
Income and expenditure account 63,102 81,353
63,102 81,353

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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 ASSOCIATION OF 16MM NARROW GAUGE
MODELLERS (REGISTERED NUMBER: 03117166)

BALANCE SHEET - continued
31 DECEMBER 2024


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 2 February 2025 and were signed on its behalf by:





I C Harper - Director


THE ASSOCIATION OF 16MM NARROW GAUGE
MODELLERS (REGISTERED NUMBER: 03117166)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1. STATUTORY INFORMATION

The Association Of 16mm Narrow Gauge Modellers 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.

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.

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.
Fixtures and fittings - 20% on cost
Computer equipment - 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 9 ) .

THE ASSOCIATION OF 16MM NARROW GAUGE
MODELLERS (REGISTERED NUMBER: 03117166)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2024 6,837 10,059 16,896
Additions 223 366 589
At 31 December 2024 7,060 10,425 17,485
DEPRECIATION
At 1 January 2024 6,743 6,310 13,053
Charge for year 138 1,237 1,375
At 31 December 2024 6,881 7,547 14,428
NET BOOK VALUE
At 31 December 2024 179 2,878 3,057
At 31 December 2023 94 3,749 3,843

5. STOCKS
2024 2023
£    £   
Stocks 4,060 5,993

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 220 2,494
VAT 2,991 3,355
Prepayments 15,768 13,421
Accrued income 11,490 12,624
30,469 31,894

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 1,319 -
Tax - 190
Accruals and deferred income 15,413 17,605
16,732 17,795

THE ASSOCIATION OF 16MM NARROW GAUGE
MODELLERS (REGISTERED NUMBER: 03117166)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

8. LIMITED BY GUARANTEE

The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount, not exceeding £1 towards the assets in the event of liquidation.