The Glades Merchants Association Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02767053 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

FOR

THE GLADES MERCHANTS' ASSOCIATION

LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

B Notley

Miss M A Mcvey

SECRETARY:

M G Haynes

REGISTERED OFFICE:

Glades Shopping Centre,

Centre Management Suite

Bromley

Kent

BR1 1DN

REGISTERED NUMBER:

02767053 (England and Wales)

AUDITORS:

Crane & Partners

Chartered Accountants & Statutory Auditors

Leonard House

5 - 7 Newman Road

Bromley

Kent

BR1 1RJ

CURRENT ASSETS

Debtors

4

74,811

326,295

Cash at bank

240,124

241,263

314,935

567,558

CREDITORS

Amounts falling due within one year

5

97,393

579,969

NET CURRENT ASSETS/(LIABILITIES)

217,542

(12,411

)

TOTAL ASSETS LESS CURRENT LIABILITIES

217,542

(12,411

)

ACCRUALS AND DEFERRED INCOME

73,668

-

NET ASSETS/(LIABILITIES)

143,874

(12,411

)

RESERVES

Income and expenditure account

143,874

(12,411

)

143,874

(12,411

)

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 9 February 2022 and were signed on its behalf by:

Miss M A Mcvey - Director

1.	STATUTORY INFORMATION

The Glades Merchants' Association 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

Income 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.

Going concern

In assessing whether the going concern basis of preparation is appropriate to adopt, the directors considered a number of factors including financial projections of the company. Based on this review the directors have concluded that there is a reasonable expectation that the company will have sufficient resources to continue in operational existence for the foreseeable future and have therefore prepared the financial statements on a going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

74,811

312,338

Other debtors

-

13,957

74,811

326,295

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

12,414

-

Taxation and social security

31,067

466

Other creditors

53,912

579,503

97,393

579,969

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

The Report of the Auditors was unqualified.

Graham Atkin FCA (Senior Statutory Auditor)

for and on behalf of Crane & Partners

7.	RELATED PARTY DISCLOSURES

All members of the company pay a subscription based on a budget that they agree prior to the commencement of the financial year.

Subscription income for the year totalled £490,187 (2020: £1,031,894).

8.	ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.

9.	LIMITED BY GUARANTEE

The company is incorporated as a company limited by guarantee and does not have a share capital. The liability of each members is limited to a maximum of £10 per member.