Antiquarian Booksellers Association (International) Filleted accounts for Companies House (small and micro)
Antiquarian Booksellers Association (International) Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
04817629
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Company Limited by Guarantee |
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FOR THE YEAR ENDED |
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COMPANY LIMITED BY GUARANTEE |
FINANCIAL STATEMENTS |
YEAR ENDED 31st DECEMBER 2022
Contents |
Page |
Chartered certified accountants report to the board of directors on the preparation of the unaudited statutory financial statements |
1 |
Statement of financial position |
2 |
Notes to the financial statements |
4 |
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COMPANY LIMITED BY GUARANTEE |
CHARTERED CERTIFIED ACCOUNTANTS REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF
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YEAR ENDED 31st DECEMBER 2022
475 Salisbury House
London Wall
London
EC2M 5QQ
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COMPANY LIMITED BY GUARANTEE |
STATEMENT OF FINANCIAL POSITION |
2022 |
2021 |
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Note |
£ |
£ |
£ |
FIXED ASSETS
Tangible assets |
6 |
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CURRENT ASSETS
Debtors |
7 |
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Cash at bank and in hand |
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CREDITORS: amounts falling due within one year |
8 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES
Profit and loss account |
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MEMBERS FUNDS |
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In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
Directors' responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
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COMPANY LIMITED BY GUARANTEE |
STATEMENT OF FINANCIAL POSITION (continued) |
These financial statements were approved by the
board of directors
and authorised for issue on
22 March 2023
, and are signed on behalf of the board by:
President
Treasurer
Company registration number:
04817629
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COMPANY LIMITED BY GUARANTEE |
NOTES TO THE FINANCIAL STATEMENTS |
YEAR ENDED 31st DECEMBER 2022
1.
GENERAL INFORMATION
The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is First Floor, 21 John Street, London, WC1N 2BF.
2.
STATEMENT OF COMPLIANCE
3.
ACCOUNTING POLICIES
BASIS OF PREPARATION
JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Significant judgements The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows: Impairment of fixed assets - The Bookfair Cabinet & Shelving is reviewed for impairment if events or changes in circumstances indicate that the carrying value may not be recoverable. Key sources of estimation uncertainty Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: Provisions and contingent liabilities - The amount of provision is determined based on the estimation of the expenditure required to settle the obligation at the statement of financial position date.
REVENUE RECOGNITION
INCOME TAX
FOREIGN CURRENCIES
TANGIBLE ASSETS
DEPRECIATION
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Bookfair Cabinets & Shelving |
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10% straight line basis
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Office Furniture & Equipment |
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20% reducing balance basis (3 years for computers)
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IMPAIRMENT OF FIXED ASSETS
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
GOVERNMENT GRANTS
FINANCIAL INSTRUMENTS
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
DEFINED CONTRIBUTION PLANS
4.
COMPANY LIMITED BY GUARANTEE
The company is limited by guarantee and has no share capital.
5.
EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to
2
(2021:
2
).
6.
TANGIBLE ASSETS
Bookfair Cabinets and Shelving |
Fixtures and fittings |
Total |
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£ |
£ |
£ |
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Cost |
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At 1st January 2022 |
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Additions |
– |
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Disposals |
(
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– |
(
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At 31st December 2022 |
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Depreciation |
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At 1st January 2022 |
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Charge for the year |
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Disposals |
(
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– |
(
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At 31st December 2022 |
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Carrying amount |
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At 31st December 2022 |
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At 31st December 2021 |
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7.
DEBTORS
2022 |
2021 |
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£ |
£ |
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Trade debtors |
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Other debtors |
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8.
CREDITORS:
amounts falling due within one year
2022 |
2021 |
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£ |
£ |
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Trade creditors |
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Corporation tax |
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Social security and other taxes |
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Other creditors |
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9.
OPERATING LEASES
The total future minimum lease payments under non-cancellable operating leases are as follows:
2022 |
2021 |
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£ |
£ |
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Later than 1 year and not later than 5 years |
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10.
RELATED PARTY TRANSACTIONS
A trustee of the Antiquarian Booksellers Association Benevolent Fund was also a Member of the Council of the Antiquarian Booksellers Association (International), a company limited by guarantee, during 2022. The Antiquarian Booksellers Association (International) helps to fund the Benevolent Fund. At 31st December 2022 £4,078 (2021 - £3,258) was owed to the Antiquarian Booksellers Association (International) by the Antiquarian Booksellers Association Benevolent Fund. The Antiquarian Booksellers Association Educational Trust was established during 2010. A Trustee of the Antiquarian Booksellers Association Educational Trust was also a Member of the Council of the Antiquarian Booksellers Association (International), a company limited by guarantee, during 2022. The Antiquarian Booksellers Association (International) helps to fund the Educational Trust and donated in the year an amount of £- (2020 - £-). At 31st December 2022 £18,509 (2021 - £2,983) was owed by the Antiquarian Booksellers Association (International) to the Antiquarian Booksellers Association Educational Trust; (2021 - £2,983 was owed to the Antiquarian Booksellers Association (International) by the Antiquarian Booksellers Association Educational Trust).