Mid Yorkshire Chamber of Commerce - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00009141 (England and Wales)

THE MID YORKSHIRE CHAMBER OF COMMERCE

AND INDUSTRY LIMITED

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

B C Stahelin

G R Hunt

T G Welton

A P Turner

M J Hathaway

S Hopkins

J A Mccartney

J Szczepanski

A J Palmer

M W Evans

SECRETARY:

Eaton Smith LLP

REGISTERED OFFICE:

Unit 3 (First Floor)

Pennine Business Park

Longbow Close, Bradley Road

Huddersfield

West Yorkshire

HD2 1GQ

REGISTERED NUMBER:

00009141 (England and Wales)

AUDITORS:

Smith Craven

Chartered Accountants

Statutory Auditors

Sidings House

Sidings Court

Lakeside

Doncaster

South Yorkshire

DN4 5NU

FIXED ASSETS

Tangible assets

4

483

804

Investments

5

1,300

1,300

1,783

2,104

CURRENT ASSETS

Debtors

6

134,002

104,481

Cash at bank and in hand

577,001

605,497

711,003

709,978

CREDITORS

Amounts falling due within one year

7

488,150

495,195

NET CURRENT ASSETS

222,853

214,783

TOTAL ASSETS LESS CURRENT LIABILITIES

224,636

216,887

RESERVES

Retained earnings

224,636

216,887

224,636

216,887

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 15 July 2019 and were signed on its behalf by:

M J Hathaway - Director

1.	STATUTORY INFORMATION

The Mid Yorkshire Chamber of Commerce and Industry Limited is a private company, limited by guarantee,

registered in England and Wales. The company's registered number and registered office address can be found

on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover comprises the value of services provided excluding value added tax.

The level of operating income also reflects the service charges generated by the issue and redemption of

childcare vouchers, and other income including that generated by vouchers which have not, or are not expected

to be, redeemed. Service charge income is recognised when vouchers are issued.

Tangible fixed assets

Depreciation is calculated so as to write off the cost of an asset over the useful economic life of that asset as

follows:

Fixtures and fittings - 2 to 10 years straight line

Computer equipment - 3 years straight line

In the year of acquisition, tangible fixed assets are depreciated from the date of purchase.

The carrying values of fixed assets are reviewed for impairment in periods if events or changes in circumstances

indicate the carrying value may not be recoverable.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Grants

Grants in respect of expenditure on tangible fixed assets are treated as deferred income which is credited to the

profit and loss account by instalments over the expected useful economic life of the related assets on a basis

consistent with depreciation policy. Grants of a revenue nature are recognised in the profit and loss account of

the period in respect of which they are payable.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2017 - 13 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2018

5,490

11,409

16,899

Disposals

(5,490

)

(6,162

)

(11,652

)

At 31 December 2018

-

5,247

5,247

DEPRECIATION

At 1 January 2018

5,490

10,605

16,095

Charge for year

-

321

321

Eliminated on disposal

(5,490

)

(6,162

)

(11,652

)

At 31 December 2018

-

4,764

4,764

NET BOOK VALUE

At 31 December 2018

-

483

483

At 31 December 2017

-

804

804

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 January 2018

and 31 December 2018

3,799

PROVISIONS

At 1 January 2018

and 31 December 2018

2,499

NET BOOK VALUE

At 31 December 2018

1,300

At 31 December 2017

1,300

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

110,691

92,208

Other debtors

23,311

12,273

134,002

104,481

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

22,369

27,700

Taxation and social security

33,567

33,126

Other creditors

432,214

434,369

488,150

495,195

8.	LEASING AGREEMENTS

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

2018

2017

£

£

Within one year

1,390

1,467

Between one and five years

5,961

2,000

7,351

3,467

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

The Report of the Auditors was unqualified.

Andrew Cribb FCA (Senior Statutory Auditor)

for and on behalf of Smith Craven

10.	CONTINGENT LIABILITIES

The company has previously acted as a guarantor to The West Yorkshire Enterprise Agency Limited (in

Administration) relating to an historic contract. The directors believe that the guarantee is not valid, no claim has

been received to date relating to the guarantor and no such claim is considered likely to occur.

11.	COMPANY LIMITED BY GUARANTEE

The company is limited by guarantee for an amount not exceeding £5 per member, less any calls previously

made. At 31 December 2017 no calls had been made by members.