The Philatelic Traders' Society Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00419382 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2020

for

The Philatelic Traders' Society Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M Bloxham

S Carson

S J Rae

REGISTERED OFFICE:

Roland House

Princes Dock Street

Hull

HU1 2LD

REGISTERED NUMBER:

00419382 (England and Wales)

ACCOUNTANTS:

Try Lunn & Co

Chartered Accountants

Roland House

Princes Dock Street

HULL HU1 2LD

FIXED ASSETS

Intangible assets

4

2,812

2,966

Tangible assets

5

73

98

Investments

6

101

101

2,986

3,165

CURRENT ASSETS

Debtors

7

77,544

66,226

Cash at bank and in hand

117,621

149,083

195,165

215,309

CREDITORS

Amounts falling due within one year

8

2,303

36,391

NET CURRENT ASSETS

192,862

178,918

TOTAL ASSETS LESS CURRENT LIABILITIES

195,848

182,083

RESERVES

Income and expenditure account

9

195,848

182,083

195,848

182,083

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 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.

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 27 September 2021 and were signed on its behalf by:

M Bloxham - Director

1.	STATUTORY INFORMATION

The Philatelic Traders' Society 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.

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 membership subscriptions attributable to the financial year.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated depreciation and any accumulated impairment losses.

The trade mark of The Philatelic Traders' Society Limited is depreciated over its expected useful life of 25 years.

Tangible fixed assets

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

Plant and machinery etc

-

33% on cost and 25% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

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 on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2019 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2020

and 31 December 2020

3,848

AMORTISATION

At 1 January 2020

882

Charge for year

154

At 31 December 2020

1,036

NET BOOK VALUE

At 31 December 2020

2,812

At 31 December 2019

2,966

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2020

and 31 December 2020

10,880

DEPRECIATION

At 1 January 2020

10,782

Charge for year

25

At 31 December 2020

10,807

NET BOOK VALUE

At 31 December 2020

73

At 31 December 2019

98

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2020

and 31 December 2020

226

PROVISIONS

At 1 January 2020

and 31 December 2020

125

NET BOOK VALUE

At 31 December 2020

101

At 31 December 2019

101

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Stampex Limited

Registered office:

Nature of business: Non trading

%

Class of shares:

holding

Ordinary

100.00

2020

2019

£

£

Aggregate capital and reserves

-

(231,309

)

P T S Expertising Limited

Registered office:

Nature of business: Expertisation services for stamps

%

Class of shares:

holding

Ordinary

100.00

2020

2019

£

£

Aggregate capital and reserves

1,410

1,679

Loss for the year

(449

)

(216

)

PTS Stamp & Coin Exhibitions Limited

Registered office:

Nature of business: Promotion and exhibition of stamps

%

Class of shares:

holding

Ordinary shares

100.00

2020

2019

£

£

Aggregate capital and reserves

(67,981

)

(13,875

)

Loss for the year

(54,106

)

(6,038

)

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

212

21,514

Amounts owed by group undertakings

76,940

43,365

Other debtors

392

1,347

77,544

66,226

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

227

-

Other creditors

2,076

36,391

2,303

36,391

9.

RESERVES

Income

and

expenditure

account

£

At 1 January 2020

182,083

Surplus for the year

13,765

At 31 December 2020

195,848

10.	RELATED PARTY DISCLOSURES

At 31 December 2020 the company was owed £76,940 ( 2019 £43,364) by PTS Stamp & Coin Exhibitions Limited, a 100% owned subsidiary.The loan is interest free.

11.	LIMITED BY GUARANTEE

The company is limited by guarantee.