The International Meat Trade Ass. Inc. - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00105383 (England and Wales)

INTERNATIONAL MEAT TRADE ASSOCIATION

INCORPORATED(THE)

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M A Boanas

B Chick

J Whitlam

P Dolan

J R D Parsons

M A Murphy

N A P Hatcliff

R Mollison

J W Ressell

R W Haesakkers

G A W Harmer

C J Smith

M D Glass

S Davies

D G Smith

S Tyndall

M D Alcorn

M Flood

D J Dwyer

SECRETARY:

K Doherty

REGISTERED OFFICE:

224 Central Markets

London

London

EC1A 9LH

REGISTERED NUMBER:

00105383 (England and Wales)

AUDITORS:

Spurling Cannon

Statutory Auditors

424 Margate Road

Westwood

Ramsgate

Kent

CT12 6SJ

FIXED ASSETS

Tangible assets

4

2,015

1,786

CURRENT ASSETS

Debtors

5

8,495

6,920

Prepayments and accrued income

1,667

-

Cash at bank

344,988

281,581

355,150

288,501

CREDITORS

Amounts falling due within one year

6

(81,888

)

(44,826

)

NET CURRENT ASSETS

273,262

243,675

TOTAL ASSETS LESS CURRENT LIABILITIES

275,277

245,461

RESERVES

Income and expenditure account

275,277

245,461

275,277

245,461

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 Board of Directors and authorised for issue on 15 April 2021 and were signed on its behalf by:

M A Boanas - Director

1.	STATUTORY INFORMATION

International Meat Trade Association Incorporated(The) 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.

Tangible fixed assets

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

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

25% on reducing balance

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2019 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2020

8,520

7,146

15,666

Additions

-

1,440

1,440

At 31 December 2020

8,520

8,586

17,106

DEPRECIATION

At 1 January 2020

8,249

5,631

13,880

Charge for year

40

1,171

1,211

At 31 December 2020

8,289

6,802

15,091

NET BOOK VALUE

At 31 December 2020

231

1,784

2,015

At 31 December 2019

271

1,515

1,786

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

4,823

1,685

Sundry debtors

3,672

5,235

8,495

6,920

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Corporation Tax

6,940

3,814

VAT

9,274

3,106

Sundry creditors and accrued expenses

65,674

37,906

81,888

44,826

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Jonathan Spurling (Senior Statutory Auditor)

for and on behalf of Spurling Cannon

8.

GUARANTEE

The members of the company have agreed to contribute £5 each to the assets of the company in the event of it being wound up.

9.

TITLE

The Association is exempt, pursuant to Section 30 of the Companies Act 1985, from the inclusion of the word Limited in its title.