Registration number: 03557369

World Nuclear Transport Limited trading as World Nuclear Transport Institute

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 10

World Nuclear Transport Limited trading as World Nuclear Transport Institute

(Registration number: 03557369)
Balance Sheet as at 31 March 2025

	Note	2025 £	(As restated) 2024 £
Fixed assets
Intangible assets	4	1,167	9,917
Tangible assets	5	13,229	16,656
		14,396	26,573
Current assets
Debtors	6	87,130	127,667
Cash at bank and in hand		963,893	937,731
		1,051,023	1,065,398
Creditors: Amounts falling due within one year	7	(195,127)	(148,402)
Net current assets		855,896	916,996
Net assets		870,292	943,569
Reserves
Retained earnings		870,292	943,569
Surplus		870,292	943,569

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

World Nuclear Transport Limited trading as World Nuclear Transport Institute

(Registration number: 03557369)
Balance Sheet as at 31 March 2025

Approved and authorised by the Board on 5 December 2025 and signed on its behalf by:
 

......................................... Mrs J Boutteau Director

World Nuclear Transport Limited trading as World Nuclear Transport Institute

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

The address of its registered office is:
Fourth Floor
York House
23 Kingsway
London
WC2B 6UJ

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

World Nuclear Transport Limited trading as World Nuclear Transport Institute

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Changes in accounting policy

The following have been applied for the first time from 1 April 2024 and have had an effect on the financial statements:

Revenue recognition - membership fees

Under the previous accounting policy, where membership income received in the period exceeded expenditure in the period, the surplus income was treated as deferred income and carried forward in creditors. Conversely, where expenditure exceeded income, previously deferred income would be released to the profit and loss account to offset the deficit.

The new policy stipulates that membership fees should be recognised as income in the period to which they relate, therefore any surplus or deficit arising will be carried forward in retained earnings.

	Relating to the current period disclosed in these financial statements £	Relating to the prior period disclosed in these financial statements £	Relating to periods before the prior period disclosed in these financial statements £
Turnover	-	(298,500)	(230,000)
Deferred income	-	(522,371)	(820,871)
Retained earnings brought forward	522,371	820,871	1,050,871
Retained earnings carried forward	-	522,371	820,871

This change in policy was determined after a review of the company's reserves policy which revealed that the previous accounting treatment did not accurately reflect the underlying nature of the transactions, and was not in line with generally accepted accounting principles.

World Nuclear Transport Limited trading as World Nuclear Transport Institute

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Prior period errors

Profits from a commercial event held in the period were classified as membership income and included in deferred income in accordance with the previous accounting policy for revenue recognition. The income and expenditure relating to this event should have been recognised in the profit and loss account during the period.

Some of this income was generated from non-members' attendance and as such was subject to corporation tax, but no tax provision was made in the accounts.

	Relating to the current period disclosed in these financial statements £	Relating to the prior period disclosed in these financial statements £	Relating to periods before the prior period disclosed in these financial statements £
Turnover	-	1,272,258	-
Cost of sales	-	(836,859)	-
Corporation tax charge	-	(70,000)	-
Taxation and social security	-	70,000	-
Deferred income	-	(435,398)	-
Retained earnings brought forward	365,398	-	-
Retained earnings carried forward	-	365,398	-

This error was identified after a review of the company's accounting policy for revenue recognition which did not comment on the treatment of income from commercial events.

Revenue recognition

Membership fees are collected annually and are recognised as revenue on an accruals basis in the period to which they relate, reflecting the delivery of services to members. They are shown net of VAT. The membership year runs to 31 March.

Income from commercial events is recognised in the period in which the event takes place and is shown net of VAT.

Reserves policy

The company aims to maintain reserves of between 6 to 12 months’ operating expenses so as to ensure financial stability, maintain the ability to plan for future events, and for future growth.

World Nuclear Transport Limited trading as World Nuclear Transport Institute

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

Due to company's mutual-trading status, the company is only liable to tax on its investment income and event revenues derived from non-members, all of which is provided at current rates.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Office equipment	20% on cost

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Intangible assets	25% on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

World Nuclear Transport Limited trading as World Nuclear Transport Institute

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 4).

World Nuclear Transport Limited trading as World Nuclear Transport Institute

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4	Intangible assets

	Internally generated software development costs  £	Total £
Cost or valuation
At 1 April 2024	35,000	35,000
At 31 March 2025	35,000	35,000
Amortisation
At 1 April 2024	25,083	25,083
Amortisation charge	8,750	8,750
At 31 March 2025	33,833	33,833
Carrying amount
At 31 March 2025	1,167	1,167
At 31 March 2024	9,917	9,917

World Nuclear Transport Limited trading as World Nuclear Transport Institute

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

5	Tangible assets

	Office equipment £	Total £
Cost or valuation
At 1 April 2024	45,293	45,293
Additions	999	999
At 31 March 2025	46,292	46,292
Depreciation
At 1 April 2024	28,637	28,637
Charge for the year	4,426	4,426
At 31 March 2025	33,063	33,063
Carrying amount
At 31 March 2025	13,229	13,229
At 31 March 2024	16,656	16,656

6

Debtors

Current	2025 £	2024 £
Trade debtors	35,208	34,800
Prepayments	29,108	29,573
Other debtors	22,814	63,294
	87,130	127,667

World Nuclear Transport Limited trading as World Nuclear Transport Institute

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

7

Creditors

Creditors: amounts falling due within one year

	2025 £	(As restated) 2024 £
Due within one year
Trade creditors	91,376	47,355
Taxation and social security	72,727	80,279
Other creditors	31,024	20,768
	195,127	148,402