Company No: 02480430 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Unaudited Financial Statements

DIRECTORS	M J Brownridge
	Lord H E Flight
	A J Glencross
	P S Hare
	S Jones
	K Lassman
	G M Roche-Saunders
	M W Sherwood
	J W Sore

SECRETARY

K Lassman

REGISTERED OFFICE	1 London Bridge
	London
	SE1 9BG
	United Kingdom

COMPANY NUMBER

02480430 (England and Wales)

CHARTERED ACCOUNTANTS	Praxis
	1 Poultry
	London
	EC2R 8EJ
	United Kingdom

	Note	2021		2020
		£		£
Fixed assets
Intangible assets	3	11,220		15,708
Tangible assets	4	752		717
		11,972		16,425
Current assets
Debtors	5	32,146		71,939
Cash at bank and in hand		69,213		49,112
		101,359		121,051
Creditors
Amounts falling due within one year	6	( 36,005)		( 35,655)
Net current assets		65,354		85,396
Total assets less current liabilities		77,326		101,821
Net assets		77,326		101,821
Reserves
Profit and loss account		77,326		101,821
Total reserves		77,326		101,821

For the financial year ending 30 June 2021 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 financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of The EIS Association Limited (registered number: 02480430) were approved and authorised for issue by the Board of Directors on 30 November 2021. They were signed on its behalf by:

Lord H E Flight Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year.

General information and basis of accounting

The EIS Association Limited (the Company) is a private company, limited by guarantee and not having a share capital. The liability of members is limited to £1.

The Company is incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 1 London Bridge, London, SE1 9BG, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council.

The functional currency of The EIS Association Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Barter transactions

Turnover is recognised in respect of barter transactions only where services are exchanged for dissimilar services and the transaction is deemed to have commercial substance. Such transactions are measured at the fair value of the services received, adjusted by any amount of cash and cash equivalents transferred.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Intangible assets

Intangible assets are measured at cost less accumulated amortisation and any accumulated impairment losses. Amortisation is provided on all intangible fixed assets at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life of 5 years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Computer equipment - 33% Straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

2. Employees

	2021		2020
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	9		9

3. Intangible assets

	Other intangible assets		Total
	£		£
Cost
At 01 July 2020	22,440		22,440
At 30 June 2021	22,440		22,440
Accumulated amortisation
At 01 July 2020	6,732		6,732
Charge for the financial year	4,488		4,488
At 30 June 2021	11,220		11,220
Net book value
At 30 June 2021	11,220		11,220
At 30 June 2020	15,708		15,708

4. Tangible assets

	Plant and machinery etc.		Total
	£		£
Cost
At 01 July 2020	2,814		2,814
Additions	546		546
At 30 June 2021	3,360		3,360
Accumulated depreciation
At 01 July 2020	2,097		2,097
Charge for the financial year	511		511
At 30 June 2021	2,608		2,608
Net book value
At 30 June 2021	752		752
At 30 June 2020	717		717

5. Debtors

	2021		2020
	£		£
Trade debtors	28,100		39,650
Other debtors	4,046		32,289
	32,146		71,939

6. Creditors: amounts falling due within one year

	2021		2020
	£		£
Other creditors	33,480		33,415
Other taxation and social security	2,525		2,240
	36,005		35,655

7. Events after the Balance Sheet date

There have been no events after the balance sheet date affecting the Company since the financial year.