Company registration number 07471151 (England and Wales)
SSFUK SHARED SERVICES FORUM UK LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
SSFUK SHARED SERVICES FORUM UK LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
SSFUK SHARED SERVICES FORUM UK LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
1,359
1,891
Current assets
Debtors
5
101,898
118,573
Cash at bank and in hand
333,154
263,575
435,052
382,148
Creditors: amounts falling due within one year
6
(249,555)
(222,206)
Net current assets
185,497
159,942
Net assets
186,856
161,833
Reserves
Income and expenditure account
186,856
161,833
Members' funds
186,856
161,833
The director of the company has elected not to include a copy of the income and expenditure account within the financial statements.true
For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 11 July 2025
D A Herd
Director
Company Registration No. 07471151
SSFUK SHARED SERVICES FORUM UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information
SSFUK Shared Services Forum UK Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is 5th Floor, Ship Canal House, 98 King Street, Manchester, United Kingdom, M2 4WU.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT.
Membership received in advance is recognised on a straight line basis over the period covered by the membership.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Furniture, fittings and equipment
15% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to surplus or deficit.
1.4
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.5
Cash at bank and in hand
Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with banks.
SSFUK SHARED SERVICES FORUM UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
1.6
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors are recognised at transaction price.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised at transaction price.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
In the opinion of the directors there are no critical judgements or estimates of uncertainty to be disclosed.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
SSFUK SHARED SERVICES FORUM UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
4
Tangible fixed assets
Furniture, fittings and equipment
£
Cost
At 1 January 2024 and 31 December 2024
7,334
Depreciation and impairment
At 1 January 2024
5,443
Depreciation charged in the year
532
At 31 December 2024
5,975
Carrying amount
At 31 December 2024
1,359
At 31 December 2023
1,891
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Membership subscriptions
98,611
116,133
Prepayments and accrued income
3,287
2,440
101,898
118,573
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
30,220
5,666
Taxation and social security
27,344
21,104
Deferred income
160,247
151,045
Other creditors
21,600
22,822
Accruals
10,144
21,569
249,555
222,206
7
Members' liability
The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.
SSFUK SHARED SERVICES FORUM UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
8
Related party transactions
During the year directors fees were charged totalling £21,600 (2023 - £21,000). The amount owed to the directors at year end was £21,600 (2023 - £21,000).