Antiquarian Booksellers Association (International) Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 04817629

ANTIQUARIAN BOOKSELLERS ASSOCIATION (INTERNATIONAL)

Company Limited by Guarantee

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 December 2024

ANTIQUARIAN BOOKSELLERS ASSOCIATION (INTERNATIONAL)

COMPANY LIMITED BY GUARANTEE

STATEMENT OF FINANCIAL POSITION

31 December 2024

	2024		2023
Note	£	£	£

FIXED ASSETS

Tangible assets	6		2,568	3,005

CURRENT ASSETS

Stocks		7,203	5,364
Debtors	7	473,424	516,861
Cash at bank and in hand		262,749	258,056
		----------	----------
		743,376	780,281

CREDITORS: amounts falling due within one year	8	413,626		458,255
		----------		----------
NET CURRENT ASSETS			329,750	322,026
			----------	----------
TOTAL ASSETS LESS CURRENT LIABILITIES			332,318	325,031
			----------	----------
NET ASSETS			332,318	325,031
			----------	----------

CAPITAL AND RESERVES

Profit and loss account	332,318	325,031
	----------	----------
MEMBERS FUNDS	332,318	325,031
	----------	----------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31st December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- 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 Act with respect to accounting records and the preparation of financial statements .

ANTIQUARIAN BOOKSELLERS ASSOCIATION (INTERNATIONAL)

COMPANY LIMITED BY GUARANTEE

STATEMENT OF FINANCIAL POSITION (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 10 April 2025 , and are signed on behalf of the board by:

D COLTHAM D CROUCH

President Treasurer

Company registration number: 04817629

ANTIQUARIAN BOOKSELLERS ASSOCIATION (INTERNATIONAL)

COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31st DECEMBER 2024

1. GENERAL INFORMATION

The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is First Floor, 21 John Street, London, WC1N 2BF.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

BASIS OF PREPARATION

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Significant judgements The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows: Impairment of fixed assets - The Bookfair Cabinet & Shelving is reviewed for impairment if events or changes in circumstances indicate that the carrying value may not be recoverable. Key sources of estimation uncertainty Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: Provisions and contingent liabilities - The amount of provision is determined based on the estimation of the expenditure required to settle the obligation at the statement of financial position date.

REVENUE RECOGNITION

Turnover comprises the value of subscriptions excluding Value Added Tax. In addition, income is generated from the holding of book fairs.

INCOME TAX

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

FOREIGN CURRENCIES

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

TANGIBLE ASSETS

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

DEPRECIATION

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Bookfair Cabinets & Shelving	-	10% straight line basis
Office Furniture & Equipment	-	20% reducing balance basis (3 years for computers)

IMPAIRMENT OF FIXED ASSETS

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

STOCKS

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

FINANCIAL INSTRUMENTS

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

DEFINED CONTRIBUTION PLANS

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. COMPANY LIMITED BY GUARANTEE

The company is limited by guarantee and has no share capital.

5. EMPLOYEE NUMBERS

The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).

6. TANGIBLE ASSETS

	Bookfair Cabinets and Shelving	Fixtures and fittings	Total
	£	£	£
Cost
At 1st January 2024	12,038	3,231	15,269
Additions	–	1,482	1,482
	---------	-------	---------
At 31st December 2024	12,038	4,713	16,751
	---------	-------	---------
Depreciation
At 1st January 2024	10,010	2,254	12,264
Charge for the year	448	1,471	1,919
	---------	-------	---------
At 31st December 2024	10,458	3,725	14,183
	---------	-------	---------
Carrying amount
At 31st December 2024	1,580	988	2,568
	---------	-------	---------
At 31st December 2023	2,028	977	3,005
	---------	-------	---------

7. DEBTORS

	2024	2023
	£	£
Trade debtors	335,803	370,807
Other debtors	137,621	146,054
	----------	----------
	473,424	516,861
	----------	----------

8. CREDITORS: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	8,451	30,117
Corporation tax	237	267
Social security and other taxes	34,959	38,850
Other creditors	369,979	389,021
	----------	----------
	413,626	458,255
	----------	----------

9. OPERATING LEASES

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2024	2023
	£	£
Later than 1 year and not later than 5 years	15,000	15,000
	---------	---------

10. RELATED PARTY TRANSACTIONS

A trustee of the Antiquarian Booksellers Association Benevolent Fund was also a Member of the Council of the Antiquarian Booksellers Association (International), a company limited by guarantee, during 2024. The Antiquarian Booksellers Association (International) helps to fund the Benevolent Fund. At 31st December 2024 £27,385 (2023 - £24,035) was owed to the Antiquarian Booksellers Association (International) by the Antiquarian Booksellers Association Benevolent Fund. The Antiquarian Booksellers Association Educational Trust was established during 2010. A Trustee of the Antiquarian Booksellers Association Educational Trust was also a Member of the Council of the Antiquarian Booksellers Association (International), a company limited by guarantee, during 2024. The Antiquarian Booksellers Association (International) helps to fund the Educational Trust and donated in the year an amount of £3,000 (2023 - £3,000). At 31st December 2024 £33,675 (2023 - £30,212) was owed by by the Antiquarian Booksellers Association (International) to the Antiquarian Booksellers Association Educational Trust.