Registration number:
Hull & Humber Chamber of Commerce Industry & Shipping
(A company limited by guarantee)
for the Year Ended 30 September 2024
Hull & Humber Chamber of Commerce Industry & Shipping
Contents
Company Information |
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Directors' Report |
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Accountants' Report |
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Consolidated Profit and Loss Account |
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Consolidated Balance Sheet |
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Balance Sheet |
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Consolidated Statement of Changes in Equity |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
Hull & Humber Chamber of Commerce Industry & Shipping
Company Information
Directors |
Dr I S Kelly Mrs I Keal Mr J A Harris Mr A E Weatherill Mr P Andrews Mr M J Walker Sir N Dakin Mrs C C Bennett Mr C K Akdemir Mr R S Gwilliam |
Company secretary |
Mrs S E Dennison |
Registered office |
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Hull & Humber Chamber of Commerce Industry & Shipping
Directors' Report for the Year Ended 30 September 2024
The directors present their report and the for the year ended 30 September 2024.
Principal activity
The principal activity of the group is the promotion and protection of trade, commerce, industry and shipping, the supply of employment and training services and property management.
Directors of the group
The directors who held office during the year were as follows:
Approved and authorised by the
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Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Hull & Humber Chamber of Commerce Industry & Shipping
for the Year Ended 30 September 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Hull & Humber Chamber of Commerce Industry & Shipping for the year ended 30 September 2024 as set out on pages from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://www.accaglobal.com/gb/en/discover/public-value/rulebook.html.
This report is made solely to the Board of Directors of Hull & Humber Chamber of Commerce Industry & Shipping, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Hull & Humber Chamber of Commerce Industry & Shipping and state those matters that we have agreed to state to the Board of Directors of Hull & Humber Chamber of Commerce Industry & Shipping, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hull & Humber Chamber of Commerce Industry & Shipping and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Hull & Humber Chamber of Commerce Industry & Shipping 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 Hull & Humber Chamber of Commerce Industry & Shipping. You consider that Hull & Humber Chamber of Commerce Industry & Shipping 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 Hull & Humber Chamber of Commerce Industry & Shipping. 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.
......................................
Chartered Certified Accountants
40 Norwood
Beverley
East Yorkshire
HU17 9EY
Hull & Humber Chamber of Commerce Industry & Shipping
Consolidated Profit and Loss Account for the Year Ended 30 September 2024
Note |
2024 |
2023 |
|
Turnover |
|
|
|
Cost of sales |
( |
( |
|
Gross surplus |
|
|
|
Administrative expenses |
( |
( |
|
Operating surplus |
|
|
|
Gain/(loss) on financial assets at fair value through profit and loss |
|
( |
|
Income from other fixed assets investments |
|
|
|
Other interest receivable and similar income |
|
|
|
Interest payable and similar expenses |
( |
( |
|
138,437 |
(3,173) |
||
Surplus before tax |
|
|
|
Tax on profit |
|
( |
|
Surplus for the financial year |
|
|
|
Profit/(loss) attributable to: |
|||
Owners of the company |
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Hull & Humber Chamber of Commerce Industry & Shipping
(Registration number: 00009604)
Consolidated Balance Sheet as at 30 September 2024
Note |
2024 |
2023 |
|
Fixed assets |
|||
Intangible assets |
( |
( |
|
Tangible assets |
|
|
|
Other financial assets |
1,069,282 |
943,575 |
|
|
|
||
Current assets |
|||
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current assets |
|
|
|
Net assets |
|
|
|
Reserves |
|||
Revaluation reserve |
402,324 |
402,324 |
|
Other reserves |
3,265,013 |
3,344,147 |
|
Retained earnings |
1,968,209 |
1,727,897 |
|
Attributable to owners of the company |
5,635,546 |
5,474,368 |
|
Surplus |
5,635,546 |
5,474,368 |
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.
For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Approved and authorised by the
......................................... |
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Hull & Humber Chamber of Commerce Industry & Shipping
(Registration number: 00009604)
Balance Sheet as at 30 September 2024
Note |
2024 |
2023 |
|
Fixed assets |
|||
Tangible assets |
|
|
|
Investments |
|
|
|
|
|
||
Current assets |
|||
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current assets |
|
|
|
Net assets |
|
|
|
Reserves |
|||
Retained earnings |
555,892 |
514,402 |
|
Surplus |
555,892 |
514,402 |
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.
For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
|
• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
Hull & Humber Chamber of Commerce Industry & Shipping
(Registration number: 00009604)
Balance Sheet as at 30 September 2024
......................................... |
......................................... |
Hull & Humber Chamber of Commerce Industry & Shipping
Consolidated Statement of Changes in Equity for the Year Ended 30 September 2024
Equity attributable to the parent company
Revaluation reserve |
Other reserves |
Profit and loss account |
Total |
Total equity |
|
At 1 October 2023 |
|
|
|
|
|
Surplus for the year |
- |
- |
|
|
|
Other comprehensive income |
- |
( |
- |
( |
( |
Total comprehensive income |
- |
( |
|
|
|
At 30 September 2024 |
|
|
|
|
|
Hull & Humber Chamber of Commerce Industry & Shipping
Statement of Changes in Equity for the Year Ended 30 September 2024
Profit and loss account |
Total |
|
At 1 October 2023 |
|
|
Surplus for the year |
|
|
Total comprehensive income |
|
|
At 30 September 2024 |
|
|
Retained earnings |
Total |
|
At 1 October 2022 |
|
|
Surplus for the year |
|
|
At 30 September 2023 |
514,402 |
514,402 |
Hull & Humber Chamber of Commerce Industry & Shipping
Notes to the Financial Statements for the Year Ended 30 September 2024
General information |
The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.
The address of its registered office is:
These financial statements were authorised for issue by the
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 were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.
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.
Going concern
The financial statements have been prepared on a going concern basis.
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 group’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the group.
The group 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 group's activities.
Hull & Humber Chamber of Commerce Industry & Shipping
Notes to the Financial Statements for the Year Ended 30 September 2024
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
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 |
Land and Buildings |
2% on cost and 25% on cost |
Plant and Machinery |
25% reducing balance, 25% and 20% cost |
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the group has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Hull & Humber Chamber of Commerce Industry & Shipping
Notes to the Financial Statements for the Year Ended 30 September 2024
Share capital
The company is limited by guarantee and as such has no share capital.
The members of the company guarantee its indebtedness. This liability is limited to a nominal sum of £1 each. The directors may admit members in accordance with the Articles of Association.
Each member is entitled to one vote at a general meeting, irrespective of the guarantee that he or she may have made.
In the event of a winding up or dissolution of the company, the members are not entitled to a share of the assets or of any surplus arising.
Operating surplus |
Arrived at after charging/(crediting)
2024 |
2023 |
|
Depreciation expense |
|
|
Amortisation expense |
( |
( |
Other interest receivable and similar income |
2024 |
2023 |
|
Interest income on bank deposits |
|
- |
Other finance income |
- |
|
|
|
Interest payable and similar expenses |
2024 |
2023 |
|
Foreign exchange gains |
|
|
Staff costs |
The average number of persons employed by the group (including directors) during the year, analysed by category was as follows:
Hull & Humber Chamber of Commerce Industry & Shipping
Notes to the Financial Statements for the Year Ended 30 September 2024
2024 |
2023 |
|
Administration and support |
|
|
Sales, marketing and distribution |
|
|
Other departments |
|
|
|
|
Directors' remuneration |
The directors' remuneration for the year was as follows:
2024 |
2023 |
|
Remuneration |
|
|
Taxation |
Tax charged/(credited) in the consolidated profit and loss account
2024 |
2023 |
|
Current taxation |
||
UK corporation tax |
( |
|
Intangible assets |
Group
Hull & Humber Chamber of Commerce Industry & Shipping
Notes to the Financial Statements for the Year Ended 30 September 2024
Goodwill |
Total |
|
Cost or valuation |
||
At 1 October 2023 |
( |
( |
At 30 September 2024 |
( |
( |
Amortisation |
||
At 1 October 2023 |
( |
( |
Amortisation charge |
( |
( |
At 30 September 2024 |
( |
( |
Carrying amount |
||
At 30 September 2024 |
( |
( |
At 30 September 2023 |
( |
( |
Tangible assets |
Group
Land and buildings |
Other tangible assets |
Total |
|
Cost or valuation |
|||
At 1 October 2023 |
|
|
|
At 30 September 2024 |
|
|
|
Depreciation |
|||
At 1 October 2023 |
|
|
|
Charge for the year |
|
|
|
At 30 September 2024 |
|
|
|
Carrying amount |
|||
At 30 September 2024 |
|
|
|
At 30 September 2023 |
|
|
|
Included within the net book value of land and buildings above is £535,100 (2023 - £540,800) in respect of freehold land and buildings and £Nil (2023 - £(1)) in respect of short leasehold land and buildings.
Hull & Humber Chamber of Commerce Industry & Shipping
Notes to the Financial Statements for the Year Ended 30 September 2024
Company
Other tangible assets |
Total |
|
Cost or valuation |
||
At 1 October 2023 |
|
|
At 30 September 2024 |
|
|
Depreciation |
||
At 1 October 2023 |
|
|
Charge for the year |
|
|
At 30 September 2024 |
|
|
Carrying amount |
||
At 30 September 2024 |
|
|
At 30 September 2023 |
|
|
Debtors |
Group |
Company |
||||
Current |
Note |
2024 |
2023 |
2024 |
2023 |
Trade debtors |
|
|
|
|
|
Amounts owed by related parties |
- |
- |
|
|
|
Other debtors |
|
|
- |
- |
|
Prepayments |
|
|
|
|
|
Accrued income |
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
Cash at bank |
|
|
|
|
Bank overdrafts |
( |
( |
- |
- |
Cash and cash equivalents in statement of cash flows |
862,625 |
453,809 |
187,044 |
181,434 |
Hull & Humber Chamber of Commerce Industry & Shipping
Notes to the Financial Statements for the Year Ended 30 September 2024
Creditors |
Group |
Company |
||||
Note |
2024 |
2023 |
2024 |
2023 |
|
Due within one year |
|||||
Loans and borrowings |
|
|
- |
- |
|
Trade creditors |
|
|
|
|
|
Amounts due to related parties |
- |
- |
|
- |
|
Social security and other taxes |
|
|
|
|
|
Other payables |
|
|
|
|
|
Accruals |
|
|
|
|
|
Income tax liability |
350 |
21,616 |
5 |
5 |
|
Deferred income |
|
|
- |
- |
|
|
|
|
|