The Philatelic Traders' Society Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00419382 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2019

for

The Philatelic Traders' Society Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M Bloxham

S Carson

S J Rae

SECRETARY:

Mrs M Tester

REGISTERED OFFICE:

Roland House

Princes Dock Street

Hull

HU1 2LD

REGISTERED NUMBER:

00419382 (England and Wales)

ACCOUNTANTS:

Try Lunn & Co

Chartered Accountants

Roland House

Princes Dock Street

HULL HU1 2LD

FIXED ASSETS

Intangible assets

4

2,966

3,120

Tangible assets

5

98

130

Investments

6

101

101

3,165

3,351

CURRENT ASSETS

Debtors

7

66,226

176,650

Cash at bank and in hand

149,083

49,857

215,309

226,507

CREDITORS

Amounts falling due within one year

8

36,391

46,669

NET CURRENT ASSETS

178,918

179,838

TOTAL ASSETS LESS CURRENT LIABILITIES

182,083

183,189

RESERVES

Income and expenditure account

9

182,083

183,189

182,083

183,189

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 and authorised for issue on 30 June 2020 and were signed on its behalf by:

M Bloxham - Director

1.	STATUTORY INFORMATION

The Philatelic Traders' Society 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 is measured at the fair value of membership subscriptions attributable to the financial year.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated depreciation and any accumulated impairment losses.

The trade mark of The Philatelic Traders' Society Limited is depreciated over its expected useful life of 25

years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost and 25% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

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 on all 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 profit. 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 profits will be available to allow all or part of the asset to be

recovered. 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange

ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating

result.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2018 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2019

and 31 December 2019

3,848

AMORTISATION

At 1 January 2019

728

Charge for year

154

At 31 December 2019

882

NET BOOK VALUE

At 31 December 2019

2,966

At 31 December 2018

3,120

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2019

and 31 December 2019

10,880

DEPRECIATION

At 1 January 2019

10,750

Charge for year

32

At 31 December 2019

10,782

NET BOOK VALUE

At 31 December 2019

98

At 31 December 2018

130

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2019

and 31 December 2019

226

PROVISIONS

At 1 January 2019

and 31 December 2019

125

NET BOOK VALUE

At 31 December 2019

101

At 31 December 2018

101

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Stampex Limited

Registered office:

Nature of business: Non trading

%

Class of shares:

holding

Ordinary

100.00

2019

2018

£

£

Aggregate capital and reserves

(231,309

)

(231,309

)

P T S Expertising Limited

Registered office:

Nature of business: Expertisation services for stamps

%

Class of shares:

holding

Ordinary

100.00

2019

2018

£

£

Aggregate capital and reserves

1,679

1,895

(Loss)/profit for the year

(216

)

332

PTS Stamp & Coin Exhibitions Limited

Registered office:

Nature of business: Promotion and exhibition of stamps

%

Class of shares:

holding

Ordinary shares

100.00

2019

2018

£

£

Aggregate capital and reserves

(13,875

)

(19,913

)

Loss for the year

(6,038

)

(40,877

)

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

21,514

14,004

Amounts owed by group undertakings

43,365

122,075

Other debtors

1,347

40,571

66,226

176,650

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

-

1,804

Other creditors

36,391

44,865

36,391

46,669

9.

RESERVES

Income

and

expenditure

account

£

At 1 January 2019

183,189

Deficit for the year

(1,106

)

At 31 December 2019

182,083

10.	RELATED PARTY DISCLOSURES

At 31 December 2019 the company was owed £43,364 by PTS Stamp & Coin Exhibitions Limited (2018

£122,075).The loan is interest free.

11.	LIMITED BY GUARANTEE

The company is limited by guarantee.