The Association of Old Vehicle Clubs in Northern Ireland Limited - Period Ending 2020-09-30

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 2020

	Note	2020 £	2019 £
Fixed assets
Tangible assets	4	350	437
Current assets
Debtors	5	277	638
Cash at bank and in hand		20,744	18,209
		21,021	18,847
Creditors: Amounts falling due within one year	6	(528)	(520)
Net current assets		20,493	18,327
Net assets		20,843	18,764
Capital and reserves
Profit and loss account		20,843	18,764
Shareholders' funds		20,843	18,764

For the financial year ending 30 September 2020 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 4 May 2021 and signed on its behalf by:
 

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

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

The Association of Old Vehicle Clubs in Northern Ireland Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2020

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 4 May 2021.

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

The Association of Old Vehicle Clubs in Northern Ireland Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2020

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2019 - 0).

4	Tangible assets

	Other tangible assets £	Total £
Cost or valuation
At 1 October 2019	3,738	3,738
At 30 September 2020	3,738	3,738
Depreciation
At 1 October 2019	3,301	3,301
Charge for the year	87	87
At 30 September 2020	3,388	3,388
Carrying amount
At 30 September 2020	350	350
At 30 September 2019	437	437

5

Debtors

	2020 £	2019 £
Prepayments	129	128
Other debtors	148	510
	277	638

6

Creditors

Creditors: amounts falling due within one year

	2020 £	2019 £
Due within one year
Accruals and deferred income	528	520

7	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.