Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-312024-05-31Femme Pressee Ltd Women of the Year FoundationfalsetruetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.1312false2023-06-01No description of principal activity 03524013 2023-06-01 2024-05-31 03524013 2022-06-01 2023-05-31 03524013 2024-05-31 03524013 2023-05-31 03524013 c:Director14 2023-06-01 2024-05-31 03524013 d:CurrentFinancialInstruments 2024-05-31 03524013 d:CurrentFinancialInstruments 2023-05-31 03524013 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 03524013 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 03524013 d:RetainedEarningsAccumulatedLosses 2024-05-31 03524013 d:RetainedEarningsAccumulatedLosses 2023-05-31 03524013 c:FRS102 2023-06-01 2024-05-31 03524013 c:IndependentExaminationCharity 2023-06-01 2024-05-31 03524013 c:FullAccounts 2023-06-01 2024-05-31 03524013 c:CompanyLimitedByGuarantee 2023-06-01 2024-05-31 03524013 d:EntityControlledByKeyManagementPersonnel1 2023-06-01 2024-05-31 03524013 d:EntityControlledByKeyManagementPersonnel2 2023-06-01 2024-05-31 03524013 d:EntityControlledByKeyManagementPersonnel3 2023-06-01 2024-05-31 03524013 d:EntityControlledByKeyManagementPersonnel3 2022-06-01 2023-05-31 03524013 2 2023-06-01 2024-05-31 03524013 e:PoundSterling 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure

Registered number: 03524013










WOMEN OF THE YEAR
(A company limited by guarantee)










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2024

 
WOMEN OF THE YEAR
 
(A company limited by guarantee)
REGISTERED NUMBER: 03524013

BALANCE SHEET
AS AT 31 MAY 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 5 
26,379
31,357

Cash at bank and in hand
  
173,024
92,673

  
199,403
124,030

Creditors: amounts falling due within one year
 6 
(158,326)
(52,747)

Net current assets
  
 
 
41,077
 
 
71,283

  

Net assets
  
41,077
71,283


Capital and reserves
  

Profit and loss account
  
41,077
71,283

  
41,077
71,283


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




D Harper, Finance Director
Director

Date: 25 February 2025

The notes on pages 2 to 6 form part of these financial statements.

Page 1

 
WOMEN OF THE YEAR

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

Women of the Year is a company limited by guarantee, incorporated in England and Wales in the United Kingdom. The registered office address is Victoria Court, 17-21 Ashford Road, Maidstone, Kent, England, ME14 5DA.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).

The financial statements are presented in GBP which is the functional currency of the company and rounded to the nearest £1.
The company is limited by guarantee and does not have share capital. Every member of the company undertakes to contribute to the assets of the company in the event of it being wound up while they are a member, or within one year afterwards, for payment of the debts and liabilities of the company contracted before they cease to be a member, and the costs, charges and expenses of winding up, and for the adjustment for the rights of the contributors among themselves, such as may be required not exceeding £1.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis. The Directors have considered relevant information, including the annual budget, forecast future cashflows and the impact of subsequent events in making their assessment. The Directors have concluded that there is no material uncertainty and that they can continue to adopt the going concern basis in preparing the accounts.

Page 2

 
WOMEN OF THE YEAR

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Revenue represents amounts receivable from sponsorship and ticket sales, net of value added tax.
Donations are accounted for as they are received by the company.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 3

 
WOMEN OF THE YEAR

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Financial liabilities

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 the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

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

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

Page 4

 
WOMEN OF THE YEAR

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

3.


Judgements in applying accounting policies and key sources of estimation uncertainty

No significant judgements have been made by management in preparing these financial statements other than those disclosed in note 2.


4.


Employees




The average monthly number of employees, including directors, during the year was 13 (2023 - 12).


5.


Debtors

2024
2023
£
£


Trade debtors
7,200
19,721

Other debtors
8,871
10,326

Prepayments and accrued income
10,308
1,310

26,379
31,357



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
5,755
4,713

Other taxation and social security
13,778
1,461

Accruals and deferred income
138,793
46,573

158,326
52,747



7.


Reconciliation of movement in members' funds

2024
2023
£
£



Opening members' funds
71,283
56,102

(Loss/)/Profit  for the financial year
(30,206)
15,181

41,077
71,283

Page 5

 
WOMEN OF THE YEAR

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

8.


Related party transactions

During the year, Vaughan Property Solutions Limited a company under control of one of the directors received payment from the company of  £8,333 (2023: £Nil) for professional services.
During the year,  No Nonsense Solutions Limited a company under control of one of the directors received payment from the company of  £3,500 (2023: £Nil) for consultancy services.
 
During the year, Femme Pressee Ltd a company under control of one of the directors received payment from the company of  £4,234 (2023: £1,400) for legal services.
During the year, the company paid a one-off charitable donation of £Nil (2023: £5,000) to Women of the Year Foundation, a UK registered charity.


9.


Controlling party

The company knows or has reasonable cause to believe that there is no registrable person or registrable relevant legal entity in relation to the company.

 
Page 6