Notes to the Financial Statements

for the Period Ended 31 December 2024

• 1. Accounting policies (continued)

  Other accounting policies

  #GOING CONCERN# The directors have reviewed the current and projected financial position of the Company, making reasonable assumptions about future performance. The directors believe that the Company has adequate financial resources and is well placed to manage its business risks successfully to meet liabilities as they fall due and continue in operation for the foreseeable future. #SIGNIFICANT ACCOUNTING JUDGEMENTS,ESTIMATES AND ASSUMPTIONS# The preparation of financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the Balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. No judgements or estimates have had significant effect on amounts recognised in the financial statements. // #EXPENDITURE# Expenditure is accounted for on accruals basis. Overhead and other costs not directly attributable to particular functional activity categories are apportioned over the relevant categories on the basis of the Company’s estimates of the amount attributable to that activity in the period as appropriate. Irrecoverable VAT is charged as a cost to the statement of financial activities. // #TAXATION# Taxation on the profit and loss for the year comprises current tax. Tax is recognised on profit or loss, except to the extent that it relates to items recognised in other comprehensive income. Current tax is the tax payable on the taxable income for the year and any adjustment in respect of previous years. Current tax is determined using tax rates that have been enacted or substantially enacted by the reporting date and are expected to apply when the asset is realised or the liability is settled. Taxation is charged at the corporation tax rate of 19% (2023: 19%). // #STOCKS# Stocks are stated at the lower of cost and net realisable value. // =DEBTORS# Trade debtors are amounts due from members for member fees or services performed in the ordinary course of business. Trade debtors are recognised initially at fair value then at amortised cost less provision for impairment. // #CASH# Cash consists of cash in hand and deposits held with banks, which are instantly available. // #TRADE AND OTHER 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 payment is due within one year or less (or in the normal operating cycle of the business if longer). If not, they are presented as non-current liabilities. Trade and other creditors are recognised initially at fair value and subsequently at amortised cost using effective interest methods. // #GENERAL RESERVES# General reserves are available to spend on activities that further any of the purposes of Company. // #DESIGNATED FUNDS# Designated funds relate to amounts set aside for designated projects and are disbursed in accordance with the terms of the applicable restrictions.

Notes to the Financial Statements

for the Period Ended 31 December 2024

• 2. Employees

  	2024	2023
  Average number of employees during the period	0	0

  Directors and Employees
  The directors did not receive any emoluments for their services (2023:£nil)
  The Company had no employee in the current year and prior year.

Notes to the Financial Statements

for the Period Ended 31 December 2024

• 3. Off balance sheet disclosure

  No

Notes to the Financial Statements

for the Period Ended 31 December 2024

4. Tangible assets