World Association of Mining Lawyers

	Page
Statement of Financial Position	1
Notes to the Financial Statements	2

Registered number: 09165984

		2024		2023
	Notes	£	£	£	£
CURRENT ASSETS
Debtors		31,756		9,779
Cash at bank		21,968		32,037

		53,724		41,816
Creditors: Amounts Falling Due Within One Year		(20,957 )		(22,007 )

NET CURRENT ASSETS (LIABILITIES)			32,767		19,809

TOTAL ASSETS LESS CURRENT LIABILITIES			32,767		19,809

Creditors: Amounts Falling Due After More Than One Year			(8,116 )		(10,489 )

NET ASSETS			24,651		9,320

Income Statement			24,651		9,320

MEMBERS' FUNDS			24,651		9,320

For the 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.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.

The financial statements were approved by the board of directors on 5 September 2025 and were signed on its behalf by:-

Mr Albert Gourley

Director

The notes on page 2 form part of these financial statements.

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World Association of Mining Lawyers

Notes to the Financial Statements

For The Year Ended 31 December 2024

Notes to the Financial Statements

1. General Information

World Association of Mining Lawyers is a private company, limited by guarantee, incorporated in England & Wales, registered number 09165984 . The registered office is 6th Floor, 100 Liverpool Street, London, EC2M 2AT.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date.

Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating surplus.

2.4. Taxation

Income tax expense represents the sum of the tax currently payable tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Current tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current tax is also recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 3 (2023: 3)

4. Company limited by guarantee

The company is limited by guarantee and has no share capital.

Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.

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