Large Model Aircraft Association Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11711983 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 September 2020

for

Large Model Aircraft Association Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

6

DIRECTORS:

G A Ailsby

R W Buckley

A T Hooper

D A Johnson

I T Jones

J P Ladell

R E Maltby

P H Needham

Mrs L M Roberts

Mrs S J Russell

I Russell

I Turney-White

P A W Lambert

SECRETARY:

R W Buckley

REGISTERED OFFICE:

Chacksfield House

31 St Andrews Road

Leicester

LE2 8RE

REGISTERED NUMBER:

11711983 (England and Wales)

ACCOUNTANTS:

HSKS Greenhalgh

Chartered Accountants

3rd Floor

Butt Dyke House

33 Park Row

Nottingham

NG1 6EE

FIXED ASSETS

Tangible assets

4

6,661

8,882

CURRENT ASSETS

Stocks

1,135

208

Debtors

8,139

1,756

Cash at bank and in hand

81,068

114,220

90,342

116,184

CREDITORS

Amounts falling due within one year

2,880

4,575

NET CURRENT ASSETS

87,462

111,609

TOTAL ASSETS LESS CURRENT LIABILITIES

94,123

120,491

PROVISIONS FOR LIABILITIES

1,266

1,510

NET ASSETS

92,857

118,981

RESERVES

Income and expenditure account

92,857

118,981

92,857

118,981

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30 September 2020 in accordance with Section 444(2A) of the Companies Act 2006.

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 24 June 2021 and were signed on its behalf by:

I Russell - Director

1.	STATUTORY INFORMATION

Large Model Aircraft Association 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.

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.

Going concern

The directors have assessed the balance sheet and likely future cash flows at the date of approving

these financial statements.

The directors have a reasonable expectation that the company has adequate resources to continue in

operational existence and to meet its financial obligations as they fall due for at least 12 months from

the date of signing these financial statements. Accordingly, they continue to adopt the going concern

basis in preparing the financial statements.

During the year under review, the COVID-19 pandemic has become a significant emerging risk to the

global economy. The directors continue to monitor the impact on the business on an ongoing basis.

At the time of approving these financial statements, the directors do not consider COVID-19 to impact

the company’s ability to continue as a going concern and considers the balance sheet to be

appropriately valued.

Turnover

Turnover represents income received from subscriptions and events.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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 profits.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 October 2019

and 30 September 2020

11,377

DEPRECIATION

At 1 October 2019

2,495

Charge for year

2,221

At 30 September 2020

4,716

NET BOOK VALUE

At 30 September 2020

6,661

At 30 September 2019

8,882

5.	MEMBERS' LIABILITY

The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up, such amounts as may be required not exceeding £1.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Large Model Aircraft Association Limited for the year ended 30 September 2020 which comprise the Abridged Income Statement, Abridged Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Large Model Aircraft Association Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Large Model Aircraft Association Limited and state those matters that we have agreed to state to the Board of Directors of Large Model Aircraft Association Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Large Model Aircraft Association Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Large Model Aircraft Association Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Large Model Aircraft Association Limited. You consider that Large Model Aircraft Association Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Large Model Aircraft Association Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

HSKS Greenhalgh

Chartered Accountants

3rd Floor

Butt Dyke House

33 Park Row

Nottingham

NG1 6EE

25 June 2021