Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-31false4false32024-01-01falsefalse 01355487 2024-01-01 2024-12-31 01355487 2023-01-01 2023-12-31 01355487 2024-12-31 01355487 2023-12-31 01355487 2023-01-01 01355487 c:Director1 2024-01-01 2024-12-31 01355487 c:Director2 2024-01-01 2024-12-31 01355487 c:Director3 2024-01-01 2024-12-31 01355487 c:Director4 2024-01-01 2024-12-31 01355487 c:Director5 2024-01-01 2024-12-31 01355487 c:Director6 2024-01-01 2024-12-31 01355487 c:Director7 2024-01-01 2024-12-31 01355487 c:Director8 2024-01-01 2024-12-31 01355487 c:Director9 2024-01-01 2024-12-31 01355487 c:Director9 2024-12-31 01355487 c:Director10 2024-01-01 2024-12-31 01355487 c:Director10 2024-12-31 01355487 c:Director11 2024-01-01 2024-12-31 01355487 c:Director12 2024-01-01 2024-12-31 01355487 c:Director13 2024-01-01 2024-12-31 01355487 c:Director14 2024-01-01 2024-12-31 01355487 c:Director14 2024-12-31 01355487 c:Director15 2024-01-01 2024-12-31 01355487 c:Director16 2024-01-01 2024-12-31 01355487 c:Director17 2024-01-01 2024-12-31 01355487 c:RegisteredOffice 2024-01-01 2024-12-31 01355487 c:Agent1 2024-01-01 2024-12-31 01355487 d:OfficeEquipment 2024-01-01 2024-12-31 01355487 d:OfficeEquipment 2024-12-31 01355487 d:OfficeEquipment 2023-12-31 01355487 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 01355487 d:CurrentFinancialInstruments 2024-12-31 01355487 d:CurrentFinancialInstruments 2023-12-31 01355487 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 01355487 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 01355487 d:ReportableOperatingSegment1 2024-01-01 2024-12-31 01355487 d:ReportableOperatingSegment1 2023-01-01 2023-12-31 01355487 d:RetainedEarningsAccumulatedLosses 2024-12-31 01355487 d:RetainedEarningsAccumulatedLosses 2023-12-31 01355487 d:AcceleratedTaxDepreciationDeferredTax 2024-12-31 01355487 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 01355487 d:TaxLossesCarry-forwardsDeferredTax 2024-12-31 01355487 d:TaxLossesCarry-forwardsDeferredTax 2023-12-31 01355487 d:OtherDeferredTax 2024-12-31 01355487 d:OtherDeferredTax 2023-12-31 01355487 c:FRS102 2024-01-01 2024-12-31 01355487 c:Audited 2024-01-01 2024-12-31 01355487 c:FullAccounts 2024-01-01 2024-12-31 01355487 c:CompanyLimitedByGuarantee 2024-01-01 2024-12-31 01355487 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure

Registered number: 01355487









WORLD SUGAR RESEARCH ORGANISATION LIMITED
(A Company Limited by Guarantee)








DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

 
WORLD SUGAR RESEARCH ORGANISATION LIMITED
 
(A Company Limited by Guarantee)
 
 
COMPANY INFORMATION


DIRECTORS
Mr Stanislas Bouchard 
Mr Alexander Fanjul 
Dr Courtney Gaine 
Dr Lars Gorissen 
Mr Paul Edward Gregory 
Mr Diego Herrera 
Mr Mauricio Iragorri 
Mr Humberto Jasso Torres 
Mr Paul Robert Kenward 
Mr Olivier Leducq 
Mrs Sandra Marsden 
Mr Paul Paulus Hubertus Joseph Mesters 
Mr Marco Antonio Regalado Nottebohm 
Mr Keith Richard Packer 
Dr Niels Heinrich Porksen 
Mr Michael Werner Schaupp 
Mr Michael Walton 




REGISTERED NUMBER
01355487



REGISTERED OFFICE
Salisbury House
Station Road

Cambridge

CB1 2LA




INDEPENDENT AUDITORS
Gravita Audit Oxford LLP
Chartered Accountants and Statutory Auditors

First Floor, Park Central

40 – 41 Park End Street

Oxford

OX1 1JD




ACCOUNTANTS
Peters Elworthy & Moore
Salisbury House

Station Road

Cambridge

CB1 2LA




BANKERS
HSBC
18 High Street

Reigate

Surrey

RH2 9AY





 
WORLD SUGAR RESEARCH ORGANISATION LIMITED
 
(A Company Limited by Guarantee)
 

CONTENTS



Page
Directors' Report
 
1 - 2
Independent Auditors' Report
 
3 - 7
Profit and Loss Account
 
8
Balance Sheet
 
9
Notes to the Financial Statements
 
10 - 14


 
WORLD SUGAR RESEARCH ORGANISATION LIMITED

(A Company Limited by Guarantee)
 
 
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024

The directors present their report and the financial statements for the year ended 31 December 2024.

PRINCIPAL ACTIVITY

The principal activity of the Company continued to be that of monitoring and collection of information on sugar scientific research throughout the world. 

DIRECTORS

The directors who served during the year were:

Mr Stanislas Bouchard 
Mr Alexander Fanjul 
Dr Courtney Gaine 
Dr Lars Gorissen 
Mr Paul Edward Gregory 
Mr Diego Herrera 
Mr Mauricio Iragorri 
Mr Humberto Jasso Torres 
Mr Paul Robert Kenward (resigned 18 March 2024)
Mr Olivier Leducq (appointed 20 June 2024)
Mrs Sandra Marsden 
Mr Paul Paulus Hubertus Joseph Mesters 
Mr Marco Antonio Regalado Nottebohm 
Mr Keith Richard Packer (appointed 18 March 2024)
Dr Niels Heinrich Porksen 
Mr Michael Werner Schaupp 
Mr Michael Walton 

Page 1

 
WORLD SUGAR RESEARCH ORGANISATION LIMITED

(A Company Limited by Guarantee)
 
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024

DIRECTORS' RESPONSIBILITIES STATEMENT

The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
 
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

 In preparing these financial statements, the directors are required to:


select suitable accounting policies for the Company's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

DISCLOSURE OF INFORMATION TO AUDITORS

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.


SMALL COMPANIES NOTE

In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board and signed on its behalf by:
 





Mr Michael Werner Schaupp
Director

Date: 12 June 2025

Page 2

 
WORLD SUGAR RESEARCH ORGANISATION LIMITED

(A Company Limited by Guarantee)
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WORLD SUGAR RESEARCH ORGANISATION LIMITED
 

OPINION


We have audited the financial statements of World Sugar Research Organisation Limited (the 'Company') for the year ended 31 December 2024, which comprise the Profit and Loss Account, the Balance Sheet and the related notes, including a summary of significant accounting policiesThe financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).


In our opinion the financial statements:


give a true and fair view of the state of the Company's affairs as at 31 December 2024 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.


BASIS FOR OPINION


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


CONCLUSIONS RELATING TO GOING CONCERN


In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.


Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.


Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.


Page 3

 
WORLD SUGAR RESEARCH ORGANISATION LIMITED

(A Company Limited by Guarantee)
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WORLD SUGAR RESEARCH ORGANISATION LIMITED (CONTINUED)


OTHER INFORMATION


The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual ReportOur opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


We have nothing to report in this regard.


OPINION ON OTHER MATTERS PRESCRIBED BY THE COMPANIES ACT 2006
 

In our opinion, based on the work undertaken in the course of the audit:


the information given in the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Directors' Report has been prepared in accordance with applicable legal requirements.


MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION
 

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' Report.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit; or
the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Directors' Report and from the requirement to prepare a Strategic Report.


Page 4

 
WORLD SUGAR RESEARCH ORGANISATION LIMITED

(A Company Limited by Guarantee)
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WORLD SUGAR RESEARCH ORGANISATION LIMITED (CONTINUED)


RESPONSIBILITIES OF DIRECTORS
 

As explained more fully in the Directors' Responsibilities Statement set out on page 2, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.


AUDITORS' RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS
 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
 
the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our knowledge and experience;
we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company.
we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence where applicable; and
identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
 
We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;
considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations; and
 
Page 5

 
WORLD SUGAR RESEARCH ORGANISATION LIMITED

(A Company Limited by Guarantee)
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WORLD SUGAR RESEARCH ORGANISATION LIMITED (CONTINUED)


To address the risk of fraud through management bias and override of controls, we:

performed analytical procedures to identify any unusual or unexpected relationships;
tested journal entries to identify unusual transactions;
assessed whether judgements and assumptions made in determining the accounting estimates were  indicative of potential bias; and
investigated the rationale behind significant or unusual transactions.
 
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
 
agreeing financial statement disclosures to underlying supporting documentation;
reading the minutes of meetings of those charged with governance;
enquiring of management as to actual and potential litigation and claims;
reviewing relevant correspondence.
 
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.


Page 6

 
WORLD SUGAR RESEARCH ORGANISATION LIMITED

(A Company Limited by Guarantee)
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WORLD SUGAR RESEARCH ORGANISATION LIMITED (CONTINUED)


USE OF OUR REPORT
 

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.





Gary Pready (Senior Statutory Auditor)
  
for and on behalf of
Gravita Audit Oxford LLP
 
Chartered Accountants and Statutory Auditors
  
First Floor, Park Central
40 – 41 Park End Street
Oxford
OX1 1JD

9 July 2025
Page 7

 
WORLD SUGAR RESEARCH ORGANISATION LIMITED
 
(A Company Limited by Guarantee)
 
 
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024

2024
2023
Note
£
£

  

Turnover
 3 
515,300
435,900

GROSS PROFIT
  
515,300
435,900

Administrative expenses
  
(527,549)
(501,406)

Other operating income
  
31,500
35,792

OPERATING PROFIT/(LOSS)
  
19,251
(29,714)

Tax on profit/(loss)
  
(203)
1,053

PROFIT/(LOSS) FOR THE FINANCIAL YEAR
  
19,048
(28,661)

There are no items of other comprehensive income for 2024 or 2023 other than the profit/(loss) for the yearAs a result, no separate Statement of Comprehensive Income has been presented.

The notes on pages 10 to 14 form part of these financial statements.

Page 8

 
WORLD SUGAR RESEARCH ORGANISATION LIMITED
 
(A Company Limited by Guarantee)
REGISTERED NUMBER: 01355487

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

FIXED ASSETS
  

Tangible assets
 6 
603
1,701

  
603
1,701

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 7 
235,223
28,755

Cash at bank and in hand
  
1,063,013
761,332

  
1,298,236
790,087

Creditors: amounts falling due within one year
 8 
(544,955)
(56,952)

NET CURRENT ASSETS
  
 
 
753,281
 
 
733,135

TOTAL ASSETS LESS CURRENT LIABILITIES
  
753,884
734,836

  

NET ASSETS
  
753,884
734,836


CAPITAL AND RESERVES
  

Profit and loss account
  
753,884
734,836

  
753,884
734,836


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 were approved and authorised for issue by the board and were signed on its behalf by: 



Mr Michael Werner Schaupp
Director

Date: 12 June 2025

The notes on pages 10 to 14 form part of these financial statements.

Page 9

 
WORLD SUGAR RESEARCH ORGANISATION LIMITED

(A Company Limited by Guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


GENERAL INFORMATION

World Sugar Research Organisation Limited is a private company limited by guarantee incorporated in England and Wales. Consequently, the Company does not have any 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 Company's registered office is Salisbury House, Station Road, Cambridge, CB1 2LA.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

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 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 following principal accounting policies have been applied:

 
2.2

TURNOVER

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Turnover represents the value of invoiced membership dues issued during the year and consultancy income received during the year. Delegate registration fees relating to attendance at the annual education meeting and co-host donations towards the cost of the annual education meeting are analysed and separately disclosed within other operating income.

 
2.3

TANGIBLE FIXED ASSETS

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.

Page 10

 
WORLD SUGAR RESEARCH ORGANISATION LIMITED

(A Company Limited by Guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.ACCOUNTING POLICIES (CONTINUED)


2.3
TANGIBLE FIXED ASSETS (CONTINUED)

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:

Office equipment
-
25%
straight-line

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.

 
2.4

DEBTORS

Short-term debtors are measured at transaction price, less any impairment.

 
2.5

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.6

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 11

 
WORLD SUGAR RESEARCH ORGANISATION LIMITED

(A Company Limited by Guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.7

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. 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 balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.



3.


TURNOVER

2024
2023
£
£

Sustaining members
515,300
435,900


Number of sustaining members 2024 - 23 (2023 - 23).
During the year 91% (2023 - 90%) of the organisation's membership dues relate to income from overseas.


4.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 3 (2023 - 4).


5.


TAXATION

The Company has losses of £34,997 (2023 - £36,908) available for carry forward against future trading profits.

Page 12

 
WORLD SUGAR RESEARCH ORGANISATION LIMITED

(A Company Limited by Guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


TANGIBLE FIXED ASSETS





Office equipment

£



COST OR VALUATION


At 1 January 2024
9,059



At 31 December 2024

9,059



DEPRECIATION


At 1 January 2024
7,358


Charge for the year on owned assets
1,098



At 31 December 2024

8,456



NET BOOK VALUE



At 31 December 2024
603



At 31 December 2023
1,701


7.


DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£


Trade debtors
218,000
-

Other debtors
-
6,804

Prepayments and accrued income
8,487
13,012

Deferred taxation
8,736
8,939

235,223
28,755


Page 13

 
WORLD SUGAR RESEARCH ORGANISATION LIMITED

(A Company Limited by Guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

8.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Trade creditors
1,008
901

Other taxation and social security
17,287
9,764

Other creditors
1,137
1,137

Accruals and deferred income
525,523
45,150

544,955
56,952


Included within other creditors are amounts due to defined contribution pension schemes of £1,137 (2023 - £1,137).


9.


DEFERRED TAXATION




2024
2023


£

£






At beginning of year
8,939
7,886


Charged to profit or loss
(203)
1,053



AT END OF YEAR
8,736
8,939

The deferred tax asset is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(151)
(425)

Tax losses carried forward
8,749
9,227

Other short term timing differences
138
137

8,736
8,939


10.


RELATED PARTY TRANSACTIONS

The majority of the directors of the Company are also directors of member organisations paying dues which are reflected as income of the Company. This reflects the nature of the Company, which is funded by, and managed by, representatives of organisations with an interest in the sugar industry as a whole. Total membership dues income received from members with directors on the Board of the Company totalled £371,400 (2023 - £329,400).

 
Page 14