Cambridgeshire Chamber of Com. and Ind. - Accounts to registrar (filleted)

REGISTERED NUMBER: 01211979 (England and Wales)

CAMBRIDGESHIRE CHAMBER OF COMMERCE AND

INDUSTRY

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page

Company information

Cambridgeshire Chamber of Commerce and Industry is a private company limited by guarantee incorporated in England and Wales. The registered office is Clifford House, 2 Station Yard, Oakington, Cambridge, United Kingdom, CB24 3AH.

1.1 Accounting convention

These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the directors 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 the financial statements.

1.3 Income

Income represents amounts receivable, excluding VAT, for services and subscriptions during the year.

Income from membership subscriptions is deferred so that it is recognised in the accounting periods to which the services covered by that subscription relates.

Income from other services is recognised in the period to which it relates.

1.4 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of

depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings - leasehold

Over the term of the lease

Fixtures, fittings & equipment

4 years straight line / 25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5 Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (nr cash-generating unit) is estimated to he less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6 Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7 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, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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.

1.8 Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.9 Taxation

The company is a non profit making organisation and only incurs a corporation tax liability on its interest receivable.

1.10 Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11 Retirement benefits

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the income and expenditure account in the year they are payable.

1.12 Leases

Rentals payable under operating leases, including any lease incentives received, arc charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2024 - 13 ) .

3.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

COST

At 1 April 2024

63,929

90,467

154,396

Additions

-

733

Disposals

-

(18,542

)

(18,542

)

At 31 March 2025

63,929

72,658

136,587

DEPRECIATION

At 1 April 2024

28,547

67,305

95,852

Charge for year

6,384

20,690

27,074

Eliminated on disposal

-

(18,542

)

(18,542

)

At 31 March 2025

34,931

69,453

104,384

NET BOOK VALUE

At 31 March 2025

28,998

3,205

32,203

At 31 March 2024

35,382

23,162

58,544

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

205,077

121,962

Other debtors

65,212

52,137

270,289

174,099

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade creditors

28,794

39,777

Taxation and social security

38,776

37,351

Other creditors

288,255

281,786

355,825

358,914

6.	LEASING AGREEMENTS

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

2025

2024

£

Within one year

30,090

29,500

Between one and five years

107,823

120,360

In more than five years

-

17,522

137,913

167,382

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

The Report of the Auditors was unqualified.

Sally-Anne Hurn FCA (Senior Statutory Auditor)

for and on behalf of Duncan & Toplis Audit Limited, Statutory Auditor

8.	RELATED PARTY TRANSACTION

Owing to the nature of the company's operations and the composition of the board of directors being from local businesses, it is inevitable that sales may take place with businesses in which a member of the board of directors may have an interest. All directors have to be employed by member organisations.

During the year amounts were paid to the following:

£4,260 (2024 - £6,418) to The First Mailing Company Limited, a company in which S Searle is a director.

£20,586 (2024 - £20,905) to Price Bailey LLP, an LLP in which M Clapson is a partner.

£3,115 to Cofinitive Limited, a company in which F Holland was a director.

All transactions are conducted at arms length and on normal commercial terms.

9.	SUBSIDIARIES

The following companies, which are limited by guarantee, have not operated and are all fully controlled by the company:

Cambridge Chamber of Commerce Limited

Chatteris Chamber of Commerce Limited

Ely Chamber of Commerce Limited

Fenland Chamber of Commerce Limited

Huntingdon Chamber of Commerce Limited

Huntingdonshire Chamber of Commerce Limited

March Chamber of Commerce Limited

Peterborough Chamber of Commerce Limited

St Ives Chamber of Commerce Limited

St Neots Chamber of Commerce Limited

The Greater Peterborough Chamber of Commerce & Industry Limited

Wisbech Chamber of Commerce Limited

Stamford Chamber of Commerce Limited

Peterborough & Stamford Chamber of Commerce Limited

All of the companies listed above have been dormant during the year and do not have any capital and reserves.

In the prior year, Work for Heroes Ltd, a dormant company that was controlled by Cambridgeshire Chamber of Commerce and Industry, was transferred to a third party.