European Phenolic Foam Association Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04146502 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2020

for

European Phenolic Foam Association Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

A J Scott

SECRETARY:

J G Fairley

REGISTERED OFFICE:

Unit 34

BASE Bordon Innovation Centre

Broxhead House, 60 Barbados Road

Bordon

Hampshire

GU35 0FX

REGISTERED NUMBER:

04146502 (England and Wales)

ACCOUNTANTS:

Sumner & Moore Limited

The Studio

377 - 399 London Road

Camberley

Surrey

GU15 3HL

CURRENT ASSETS

Debtors

4

38,900

11,064

Cash at bank

109,231

138,213

148,131

149,277

CREDITORS

Amounts falling due within one year

5

102,323

108,657

NET CURRENT ASSETS

45,808

40,620

TOTAL ASSETS LESS CURRENT LIABILITIES

45,808

40,620

RESERVES

Capital reserve

269

269

Income and expenditure account

45,539

40,351

45,808

40,620

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 23 September 2021 and were signed by:

A J Scott - Director

1.	STATUTORY INFORMATION

European Phenolic Foam Association Ltd 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 the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Trade debtors

38,900

-

Other debtors

-

11,064

38,900

11,064

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Trade creditors

25,075

3,290

VAT

9,923

-

Deferred income

60,690

89,690

Accrued expenses

6,635

15,677

102,323

108,657

Deferred income relates to amounts received in earlier accounting periods relating to furture anticipated fire testing costs. During the year a transfer to income was made of £29,000 to cover costs expended in the year under review. The balance of deferred income at 31st December 2020 was £60,690. (2019 £89,690).