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COMPANY REGISTRATION NUMBER: 00559969
The National Association of the Launderette Industry Ltd
Company Limited by Guarantee
Filleted Unaudited Financial Statements
31 August 2024
The National Association of the Launderette Industry Ltd
Company Limited by Guarantee
Statement of Financial Position
31 August 2024
2024
2023
Note
£
£
£
Current assets
Debtors
5
347
330
Cash at bank and in hand
92,144
89,942
--------
--------
92,491
90,272
Creditors: amounts falling due within one year
6
1,468
1,412
--------
--------
Net current assets
91,023
88,860
--------
--------
Total assets less current liabilities
91,023
88,860
--------
--------
Net assets
91,023
88,860
--------
--------
Capital and reserves
Fighting Fund
47,925
46,513
Profit and loss account
43,098
42,347
--------
--------
Members funds
91,023
88,860
--------
--------
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 comprehensive income has not been delivered.
For the year ending 31 August 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 .
These financial statements were approved by the board of directors and authorised for issue on 6 November 2024 , and are signed on behalf of the board by:
Mr P Morrow Chairman
Director
Company registration number: 00559969
The National Association of the Launderette Industry Ltd
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 August 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 32 Hiltingbury Road, Chandlers Ford, Eastleigh, Hants, SO53 5SS.
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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts.
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.
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.
4. Company limited by guarantee
The Association is a company limited by guarentee, without share capital.
In the event of the company being wound up, the members would each be liable to contribute a sum not exceeding £20.
5. Debtors
2024
2023
£
£
Other debtors
347
330
----
----
6. Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
294
272
Other creditors
1,174
1,140
-------
-------
1,468
1,412
-------
-------