Association of Translation Companies Limited - Filleted accounts

ASSOCIATION OF TRANSLATION COMPANIES LIMITED - Company Information

Registered number

01253826

Association of Translation Companies Limited

Filleted Accounts

31 March 2019

Association of Translation Companies Limited
Registered number:		01253826
Balance Sheet
as at 31 March 2019

Notes			2019			2018
£				£
Current assets
Debtors	2	60,824			52,831
Cash at bank and in hand		65,160			61,227
		125,984			114,058

Creditors: amounts falling due within one year	3	(79,265)			(67,584)

Net current assets			46,719			46,474

Net assets			46,719			46,474

Reserves
Income and expenditure account			46,719			46,474

			46,719			46,474

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The income and expenditure account has not been delivered to the Registrar of Companies.




R Temple
Chairman
Approved by the board on 15 May 2019

Association of Translation Companies Limited
Notes to the Accounts
for the year ended 31 March 2019


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover represents subscriptions which are credited to the Income and Expenditure Account on a receivable basis. It also includes fees for conferences recharged to members.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable surplus of the current and past periods. A current tax asset is recognised in respect of a tax deficit that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 surpluses. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.


2	Debtors	2019		2018
£			£

	Trade debtors	38,069		38,846
	Prepayment	22,755		13,985
		60,824		52,831


3	Creditors: amounts falling due within one year	2019		2018
£			£

	Trade creditors	3,426		15,285
	Taxation and social security costs	7,135		7,091
	Accruals and deferred income	62,654		44,443
	Other creditors	6,050		765
		79,265		67,584


4	Statutory information

	Association of Translation Companies Limited is a private company limited by guarantee and incorporated in England and Wales. The liability of each member under the guarantee is limited to £1. The registered office address can be found on the Company Information Page