COMPANY REGISTRATION NUMBER:
02841983
|
The Association For International Broadcasting Limited |
|
|
Company Limited by Guarantee |
|
|
Filleted Unaudited Abridged Financial Statements |
|
R E Jones & Co.
|
The Association For International Broadcasting Limited |
|
|
Company Limited by Guarantee |
|
|
Abridged Financial Statements |
|
Year ended 31 December 2024
|
Officers and professional advisers |
1 |
|
|
|
Abridged statement of financial position |
2 |
|
|
|
Notes to the abridged financial statements |
4 |
|
|
R E Jones & Co.
|
The Association For International Broadcasting Limited |
|
|
Company Limited by Guarantee |
|
|
Abridged Statement of Financial Position (continued) |
|
31 December 2024
Capital and reserves
|
Profit and loss account |
|
16,125 |
2,609 |
|
|
--------- |
------- |
|
Members funds |
|
16,125 |
2,609 |
|
|
--------- |
------- |
|
|
|
|
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
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.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
.
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.
These abridged financial statements were approved by the
board of directors
and authorised for issue on
30 September 2025
, and are signed on behalf of the board by:
Company registration number:
02841983
R E Jones & Co.
|
The Association For International Broadcasting Limited |
|
|
Company Limited by Guarantee |
|
|
Notes to the Abridged Financial Statements |
|
Year ended 31 December 2024
1.
General information
The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is 132 Burnt Ash Road, Lee, London, SE12 8PU, United Kingdom.
2.
Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The company meets its day to day working capital requirements through an overdraft facility, which in common with all such facilities is repayable on demand. The nature of the company's business is such that there can be considerable unpredictable variation in the timing of the cash inflows. The director has prepared projected cash flow information for the period ending 9 months from the date of his approval of these financial statements. On the basis of this cash flow information the director considers that the company will continue to operate within the bank overdraft. However, the margin of facilities over requirements is not large and, inherently there can be no certainty in relation to these matters. On the basis, the director considers it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of the bank overdraft.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
|
Goodwill |
- |
10% straight line |
|
|
|
|
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Equipment |
- |
25% straight line |
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
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 entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Company limited by guarantee
The company is non profit making association limited by guarantee.
5.
Employee numbers
The average number of persons employed by the company during the year amounted to
3
(2023:
3
).
6.
Intangible assets
|
£ |
|
Cost |
|
|
At 1 January 2024 and 31 December 2024 |
12,000 |
|
--------- |
|
Amortisation |
|
|
At 1 January 2024 and 31 December 2024 |
12,000 |
|
--------- |
|
Carrying amount |
|
|
At 31 December 2024 |
– |
|
--------- |
|
At 31 December 2023 |
– |
|
--------- |
|
|
7.
Tangible assets
|
£ |
|
Cost |
|
|
At 1 January 2024 |
59,617 |
|
Additions |
2,550 |
|
--------- |
|
At 31 December 2024 |
62,167 |
|
--------- |
|
Depreciation |
|
|
At 1 January 2024 |
48,004 |
|
Charge for the year |
6,773 |
|
--------- |
|
At 31 December 2024 |
54,777 |
|
--------- |
|
Carrying amount |
|
|
At 31 December 2024 |
7,390 |
|
--------- |
|
At 31 December 2023 |
11,613 |
|
--------- |
|
|
8.
Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
|
2024 |
|
|
Balance brought forward |
Advances/ (credits) to the director |
Balance outstanding |
|
|
£ |
£ |
£ |
|
Mr S Spanswick |
(
8,392) |
1,546 |
(
6,846) |
|
|
------- |
------- |
------- |
|
|
|
|
|
|
2023 |
|
|
Balance brought forward |
Advances/ (credits) to the director |
Balance outstanding |
|
|
£ |
£ |
£ |
|
Mr S Spanswick |
4,221 |
(
12,613) |
(
8,392) |
|
|
------- |
--------- |
------- |
|
|
|
|
|
9.
Related party transactions
No transactions with related parties were undertaken such as are required to be disclosed under the FRS102.