Company registration number: 13532042
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FOR THE YEAR ENDED
31 DECEMBER 2024
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INTERNATIONAL GAS UNION ( UK SECRETARIAT) LIMITED
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INTERNATIONAL GAS UNION ( UK SECRETARIAT) LIMITED
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COMPANY INFORMATION
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M Ydreos (appointed 11 January 2024)
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Chartered Accountants & Statutory Auditor
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INTERNATIONAL GAS UNION ( UK SECRETARIAT) LIMITED
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CONTENTS
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Statement of financial position
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Notes to the financial statements
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INTERNATIONAL GAS UNION ( UK SECRETARIAT) LIMITED
REGISTERED NUMBER:13532042
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STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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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 on 7 May 2025.
The notes on pages 2 to 6 form part of these financial statements.
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INTERNATIONAL GAS UNION ( UK SECRETARIAT) LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
International Gas Union (UK Secretariat) Limited is a company limited by shares and incorporated in England & Wales. The address of the registered office is given on the company information page.
2.Accounting policies
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Basis of preparation of financial statements
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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 following principal accounting policies have been applied:
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Foreign currency translation
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Functional and presentation currency
The Company's functional and presentational currency is GBP.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
The revenue represents amounts recharged at cost plus 3% to Union Internationale du Gaz (Switzerland), its
parent company, exclusive of Value Added tax and in accordance with the service agreement dated 30 July
2021.
Revenue is recognised at 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 consideration received or
receivable.
Interest income is recognised in profit or loss using the effective interest method.
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INTERNATIONAL GAS UNION ( UK SECRETARIAT) LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
Amortisation is provided on the following bases:
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
The average monthly number of employees, including directors, during the year was 5 (2023-6).
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INTERNATIONAL GAS UNION ( UK SECRETARIAT) LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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INTERNATIONAL GAS UNION ( UK SECRETARIAT) LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Charge for the year on owned assets
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INTERNATIONAL GAS UNION ( UK SECRETARIAT) LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Prepayments and accrued income
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Other taxation and social security
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Accruals and deferred income
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The parent of the smallest group for which consolidated financial statements are drawn up is Union Internationale du Gaz, a company incorporated in Switzerland. The address of their registered office is Avenue General-Guisan 28 C/O Compagnie Industrielle, Et Commerciale du Gaz SA, 1800 Vevey,Vaud, Switzerland.
The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.
The audit report was signed on 8 May 2025 by Janice Matthews FCA (Senior statutory auditor) on behalf of Menzies LLP.
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