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Registration number: 01010968

Comite International Des Telecommunications de Presse

(A company limited by guarantee)

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2024

 

Comite International Des Telecommunications de Presse

Contents

Company Information

1

Directors' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 9

 

Comite International Des Telecommunications de Presse

Company Information

Directors

Mr B P Quinn

J Parrucci

R C Schmidt-Nia

P Harman

G Innerwinkler

G Wu

D Compton

P Mougin

H L Edwards-Gray

Company secretary

Mr B P Quinn

Registered office

25 Southampton Buildings
London
WC2A 1AL

 

Comite International Des Telecommunications de Presse

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.

Directors of the company

The directors who held office during the year were as follows:

Mr B P Quinn - Company secretary and director

J Parrucci

R C Schmidt-Nia

P Harman

G Innerwinkler

G Wu

D Compton

P Mougin

H L Edwards-Gray

Principal activity

The principal activity of the company is defining, developing, maintaining and promoting technical standards for news exchange formats and vocabularies

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 10 June 2025 and signed on its behalf by:
 

.........................................
Mr B P Quinn
Company secretary and director

 

Comite International Des Telecommunications de Presse

(Registration number: 01010968)
Balance Sheet as at 31 December 2024

Note

31 December
2024

31 December
2023

Fixed assets

 

Tangible assets

5

-

519

Current assets

 

Debtors

7

13,520

8,320

Other financial assets

6

241,879

105,199

Cash at bank and in hand

 

258,756

379,899

 

514,155

493,418

Creditors: Amounts falling due within one year

8

(18,598)

(12,493)

Net current assets

 

495,557

480,925

Net assets

 

495,557

481,444

Reserves

 

Retained earnings

495,557

481,444

Surplus

 

495,557

481,444

For the financial year ending 31 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the Board on 10 June 2025 and signed on its behalf by:
 

.........................................
Mr B P Quinn
Company secretary and director

 

Comite International Des Telecommunications de Presse

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a company limited by guarantee, incorporated in England, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding €Nil towards the assets of the company in the event of liquidation.

The address of its registered office is:
25 Southampton Buildings
London
WC2A 1AL
England

These financial statements were authorised for issue by the Board on 10 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentational currency is Euros, rounded to the nearest whole number.

Going concern

Revenue recognition

Subscription revenue comprises amounts invoiced to nominating organisations and scientific and industrial organisations.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Comite International Des Telecommunications de Presse

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

25% reducing balance

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Intellectual property

33% on cost reducing balance

Development costs

50% on cost reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Comite International Des Telecommunications de Presse

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2023 - 1).

 

Comite International Des Telecommunications de Presse

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4

Intangible assets

Internally generated software development costs
 €

Other intangible assets
 €

Total

Cost or valuation

At 1 January 2024

72,134

9,473

81,607

At 31 December 2024

72,134

9,473

81,607

Amortisation

At 1 January 2024

72,134

9,473

81,607

At 31 December 2024

72,134

9,473

81,607

Carrying amount

At 31 December 2024

-

-

-

5

Tangible assets

Furniture, fittings and equipment
 €

Total

Cost or valuation

At 1 January 2024

2,078

2,078

At 31 December 2024

2,078

2,078

Depreciation

At 1 January 2024

1,559

1,559

Charge for the year

519

519

At 31 December 2024

2,078

2,078

Carrying amount

At 31 December 2024

-

-

At 31 December 2023

519

519

 

Comite International Des Telecommunications de Presse

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

6

Other financial assets (current and non-current)

Financial assets at cost less impairment

Total

Current financial assets

Cost or valuation

Additions

241,879

241,879

At 31 December 2024

241,879

241,879

Impairment

Carrying amount

At 31 December 2024

241,879

241,879

7

Debtors

Current

31 December
2024

31 December
2023

Trade debtors

13,520

8,320

 

13,520

8,320

8

Creditors

Creditors: amounts falling due within one year

31 December
2024

31 December
2023

Due within one year

Trade creditors

2,552

66

Accruals and deferred income

16,046

12,427

18,598

12,493

9

Related party transactions

 

Comite International Des Telecommunications de Presse

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

10

Financial instruments

Categorisation of financial instruments

2024
 €

2023
 €

Financial assets measured at fair value through profit or loss

241,879

105,199

Financial assets measured at fair value

Current asset investments
Amortised cost

The fair value is €241,879 (2023 - €105,199) and the change in value included in profit or loss is 6,680 (2023 - €199).