Psychologists' Protection Society Trust - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC382629 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 AUGUST 2019 TO 31 OCTOBER 2020

FOR

PSYCHOLOGISTS' PROTECTION SOCIETY TRUST

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr D R Bury

Mrs C M Mcmaster

Ms K Millhagen

Mrs A G Martin

Mr T W Cromey

Mrs S Grainger

Ms C Tindle

SECRETARY:

Mrs S Grainger

REGISTERED OFFICE:

Lime Tree House

North Castle Street

Alloa

Clackmannanshire

FK10 1EX

REGISTERED NUMBER:

SC382629 (Scotland)

CURRENT ASSETS

Debtors

4

176,789

77,943

Cash at bank

428,387

267,221

605,176

345,164

CREDITORS

Amounts falling due within one year

5

68,533

2,496

NET CURRENT ASSETS

536,643

342,668

TOTAL ASSETS LESS CURRENT LIABILITIES

536,643

342,668

RESERVES

Income and expenditure account

536,643

342,668

536,643

342,668

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 October 2020.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 October 2020 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 February 2021 and were signed on its behalf by:

Mrs C M Mcmaster - Director

1.	STATUTORY INFORMATION

Psychologists' Protection Society Trust is a private company, limited by guarantee , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. In particular, in response to the COVID-19 pandemic, the Directors have tested their cash flow analysis to take into account the impact on their business of possible scenarios brought on by the impact of COVID-19, alongside the measures that they can take to mitigate the impact. Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the Directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.

TURNOVER

Turnover is measured at the fair value of the consideration received in relation to membership fees excluding discounts and value added tax where applicable. Annual membership fees are non refundable and are recognised in the month in which they are received. The period of cover varies for each individual member, determined by their initial joining date.

TAXATION

The society is a not for profit organisation run for the benefit of its members. The society is only subject to corporation tax on non-member income.

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.

CHANGE IN REPORTING PERIOD

The financial period of the company was changed from 31 July 2020 to 31 October 2020 and so represents a 15 month period. As a result the results are not directly comparable with the comparative results reported in the 12 month period to 31 July 2019. This change was made to facilitate a change to the Trust's preferred AGM date.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL (2019 - NIL).

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Other debtors

176,789

77,943

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Other creditors

68,533

2,496

6.	LIMITED BY GUARANTEE

The company is a private company limited by guarantee and consequently does not have share capital.

In the event of winding up every member undertakes to contribute an amount not exceeding £1.