Hull Corn And Feed Trade Association Ltd

	Page
Balance Sheet	1
Notes to the Financial Statements	2—4

1. General Information

Hull Corn And Feed Trade Association Ltd is a private company, limited by guarantee, incorporated in England & Wales, registered number 00047313 . The registered office is Unit 11, Market Weighton Business Centre, Brecklands Park Industrial Estate, York Road, Market Weighton, YO43 3GL.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Significant judgements and estimations

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Although these estimates are based on the Directors' best knowledge of the amount, events or actions, actual results ultimately differ from these estimates. The Directors do not consider there to be any material estimates and judgements.

2.3. Turnover

Revenue comprises the fair value of the consideration received or receivable for the sale of services in the ordinary course of the company's activities. Revemue is shown net of value added taxes, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefit will flow to the entity and when specific criteria have been met for each of the group's activities as described below.

The company provides trade organisation benefits to other organisations and people; these services are provided on a time and material basis or as a fixed price contract.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Computer Equipment

25% on cost

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.6. Financial Instruments

The compnay only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments, including trade and other debtors and creditors are initially recognised at transaction value and subsequently measure at their settlement value.

2.7. Taxation

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

The tax currently payable is based on taxable surplus for the year. Taxable surplus differs from surplus as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years 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.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable surplus. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable surplus will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable surplus will be available to allow all or part of the asset to be recovered.

...CONTINUED

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Hull Corn And Feed Trade Association Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.7. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in surplus or deficit for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.8. Donated assets

The association holds the following assets for which there is no attributable cost, but which have the following values for insurance purposes:

Chain of Office	£9,995
Sterling Silver Trophy Cup	£2,626

2.9. Fixed Asset Investments

Fixed asset investments, including shares and bonds, are initially measured at cost, comprising the acquisition price and directly attributable transaction costs. Impairment assessments are performed regularly, and any indication of impairment leads to the recognition of impairment losses.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 1 (2024: 1)

4. Tangible Assets

	Computer Equipment
	£
Cost
As at 1 April 2024	1,702

As at 31 March 2025	1,702

Depreciation
As at 1 April 2024	1,661
Provided during the period	41

As at 31 March 2025	1,702

Net Book Value
As at 31 March 2025	-

As at 1 April 2024	41

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Hull Corn And Feed Trade Association Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

5. Investments

	Other
	£
Cost
As at 1 April 2024	50,000
Disposals	(20,000 )

As at 31 March 2025	30,000

Provision
As at 1 April 2024	-

As at 31 March 2025	-

Net Book Value
As at 31 March 2025	30,000

As at 1 April 2024	50,000

6. Stocks

	2025	2024
	£	£
Stock	12	17

7. Debtors

	2025	2024
	£	£
Due within one year
Other debtors	3,725	4,183

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Other creditors	1,821	761
Taxation and social security	56	144

	1,877	905

9. 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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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		-		41
Investments	5		30,000		50,000

			30,000		50,041
CURRENT ASSETS
Stocks	6	12		17
Debtors	7	3,725		4,183
Cash at bank and in hand		77,404		55,141

		81,141		59,341
Creditors: Amounts Falling Due Within One Year	8	(1,877 )		(905 )

NET CURRENT ASSETS (LIABILITIES)			79,264		58,436

TOTAL ASSETS LESS CURRENT LIABILITIES			109,264		108,477

NET ASSETS			109,264		108,477

Income and Expenditure Account			109,264		108,477

MEMBERS' FUNDS			109,264		108,477