Surrey Chambers of Commerce Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 03027072 (England and Wales)

Financial Statements

for the Year Ended 31 December 2024

for

Surrey Chambers of Commerce Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

D W Morgan

Ms L M Punter

M Turner

H J Ockrim

Ms M Robins

Ms C Fisher

Ms A M Galvin

SECRETARY:

Ms T M Wavre

REGISTERED OFFICE:

Unit 14A

Monument Way East

Woking

Surrey

GU21 5LY

REGISTERED NUMBER:

03027072 (England and Wales)

AUDITORS:

Bennewith 2018 Limited (Statutory Auditors)

Upper Ground Floor

18 Farnham Road

Guildford

Surrey

GU1 4XA

FIXED ASSETS

Tangible assets

4

2,583

4,343

CURRENT ASSETS

Debtors

5

102,871

95,828

Cash at bank and in hand

131,360

138,697

234,231

234,525

CREDITORS

Amounts falling due within one year

6

(156,612

)

(164,997

)

NET CURRENT ASSETS

77,619

69,528

TOTAL ASSETS LESS CURRENT LIABILITIES

80,202

73,871

RESERVES

Income and expenditure account

80,202

73,871

80,202

73,871

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 September 2025 and were signed on its behalf by:

Ms L M Punter - Director

1.	STATUTORY INFORMATION

Surrey Chambers of Commerce Limited is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

General sponsorship is recognised upon receipt. Grant income is recognised as the related expenditure is incurred and the organisation attains the right to the consideration through performance of the grant conditions, Income from other sources, including membership subscriptions, is recognised in accordance with the period to which it relates. As such, membership subscriptions are spread over a period of twelve months from the invoice date.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

Straight line over 3 years

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 initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

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 initially recognised at transaction price unless the

arrangement constitutes a financing transaction.

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 initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern

The financial statements have been prepared on a going concern basis. The directors have considered the relevant information including the annual budget and forecasts (including cash flows) for the next 12 months and have considered the company's ability to meet its liabilities as they fall due, based upon the information available to the directors at the date of these financial statements.

On the basis of the above, the directors therefore have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, the directors continue to adopt the going concern basis of accounting in preparing these financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

32,304

Additions

952

At 31 December 2024

33,256

DEPRECIATION

At 1 January 2024

27,961

Charge for year

2,712

At 31 December 2024

30,673

NET BOOK VALUE

At 31 December 2024

2,583

At 31 December 2023

4,343

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade debtors

76,517

75,217

Other debtors

26,354

20,611

102,871

95,828

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade creditors

26,749

12,992

Taxation and social security

26,855

34,871

Other creditors

103,008

117,134

156,612

164,997

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.24

31.12.23

£

Within one year

4,773

Between one and five years

3,579

8,352

13,125

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

A J Bennewith FCA (Senior Statutory Auditor)

for and on behalf of Bennewith 2018 Limited (Statutory Auditors)

9.	LIMITED BY GUARANTEE

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.