The Association of Old Vehicle Clubs in Northern Ireland Limited - Period Ending 2019-09-30

Registration number: NI013390

The Association of Old Vehicle Clubs in Northern Ireland Limited

(A company limited by guarantee)

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2019

D T Carson & Co
51-53 Thomas Street
Ballymena
Co. Antrim
BT43 6AZ

 

The Association of Old Vehicle Clubs in Northern Ireland Limited

Contents

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

The Association of Old Vehicle Clubs in Northern Ireland Limited

(Registration number: NI013390)
Balance Sheet as at 30 September 2019

	Note	2019 £	2018 £
Fixed assets
Tangible assets	3	437	545
Current assets
Debtors	4	638	428
Cash at bank and in hand		18,209	16,284
		18,847	16,712
Creditors: Amounts falling due within one year	5	(520)	(500)
Net current assets		18,327	16,212
Net assets		18,764	16,757
Capital and reserves
Profit and loss account		18,764	16,757
Total equity		18,764	16,757

For the financial year ending 30 September 2019 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 24 April 2020 and signed on its behalf by:
 

......................................... Trevor Mitchell Company secretary and director

......................................... Hugh Desmond Shortt Director

The notes on pages 2 to 3 form an integral part of these financial statements.

Page 1

The Association of Old Vehicle Clubs in Northern Ireland Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2019

1	General information

The company is a company limited by guarantee, incorporated in Northern Ireland, 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:
38 Ballymaconnell Road
Bangor
Co Down
BT20 5PS

These financial statements were authorised for issue by the Board on 24 April 2020.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation.

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
Equipment	20% reducing balance

Page 2

The Association of Old Vehicle Clubs in Northern Ireland Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2019

3	Tangible assets

	Other tangible assets £	Total £
Cost or valuation
At 1 October 2018	3,738	3,738
At 30 September 2019	3,738	3,738
Depreciation
At 1 October 2018	3,193	3,193
Charge for the year	108	108
At 30 September 2019	3,301	3,301
Carrying amount
At 30 September 2019	437	437
At 30 September 2018	545	545

4

Debtors

	2019 £	2018 £
Prepayments	128	128
Other debtors	510	300
	638	428

5

Creditors

Creditors: amounts falling due within one year

	2019 £	2018 £
Due within one year
Accruals and deferred income	520	500

6	Share capital

The company is a private limited company, limited by guarantee 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.

Page 3