Company registration number 08981177 (England and Wales)
ANGLO-AUSTRALASIAN LAWYERS SOCIETY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
ANGLO-AUSTRALASIAN LAWYERS SOCIETY LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
ANGLO-AUSTRALASIAN LAWYERS SOCIETY LIMITED
BALANCE SHEET
AS AT
30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
3
8,022
7,518
Cash at bank and in hand
10,850
8,258
18,872
15,776
Creditors: amounts falling due within one year
4
(7,241)
(8,234)
Net current assets
11,631
7,542
Reserves
Income and expenditure account
11,631
7,542
Total members' funds
11,631
7,542

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

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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.

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

The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 12 March 2025 and are signed on its behalf by:
G Mulley
Director
Company registration number 08981177 (England and Wales)
ANGLO-AUSTRALASIAN LAWYERS SOCIETY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 2 -
1
Accounting policies
Company information

Anglo-Australasian Lawyers Society Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is at London Fruit & Wool Exchange, Duval Square, London, England, E1 6PW.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Income and expenditure

Income and expenses are included in the financial statements as they become receivable or due.

 

Expenses include VAT where applicable as the company cannot reclaim it.

1.3
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.4
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

3
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
8,022
7,518
ANGLO-AUSTRALASIAN LAWYERS SOCIETY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 3 -
4
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
-
0
1,873
Corporation tax
959
219
Other creditors
6,282
6,142
7,241
8,234

The directors consider that the carrying amount of trade payables approximates to their fair value.

5
Members' liability

The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.

6
Related party transactions

At the year end the company owed £4,742 (2023 - £4,742) to the directors of the company, in respect of an interest free loan which is repayable on demand.

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