General UK Guangxi Overseas Business Association |
Notes to the Accounts |
for the period from 28 October 2019 to 31 October 2020 |
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
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The Liability of guarantors |
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The company is a limited by guarantee and not having a share capital, every member of the company undertakes that if the company is wound up while he/she is member or within one year after he/she ceases to be a member, he/she will contribute to the assets of the company such amount not exceeding £10 as may be required for payment of the debts and liabilities of the company contracted before he/she ceased to be a member and the costs, charges and expenses of winding-up and the adjustment of the rights of the contributories as between them. |
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2 |
Employees |
2020 |
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Number |
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Average number of persons employed by the company |
0 |
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3 |
Other information |
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General UK Guangxi Overseas Business Association is a private company limited by shares and incorporated in England. Its registered office is: |
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3rd Floor |
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19 Gerrard Street |
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London |
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United Kingdom |
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W1D 6JG |