Textile Services Association Limited Filleted accounts for Companies House (small and micro)
Textile Services Association Limited Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
00169160
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Company Limited by Guarantee |
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Company Limited by Guarantee |
Financial Statements |
Year ended 31 December 2022
Contents |
Page |
Statement of financial position |
1 |
Notes to the financial statements |
3 |
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Company Limited by Guarantee |
Statement of Financial Position |
2022 |
2021 |
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Note |
£ |
£ |
£ |
Fixed assets
Intangible assets |
6 |
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Tangible assets |
7 |
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Investments |
8 |
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Current assets
Debtors |
9 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
10 |
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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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Company Limited by Guarantee |
Statement of Financial Position (continued) |
2022 |
2021 |
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Note |
£ |
£ |
£ |
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:
-
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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These financial statements were approved by the
board of directors
and authorised for issue on
5 July 2023
, and are signed on behalf of the board by:
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Director |
Company registration number:
00169160
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Company Limited by Guarantee |
Notes to the Financial Statements |
Year ended 31 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 Regus, Venture House, 2 Arlington Square, Downshire Way, Bracknell, RG12 1WA.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Revenue recognition
Taxation
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Website |
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3 years |
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If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
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:
Furniture, fittings and equipment |
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4 years |
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Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
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.
Defined contribution plans
4.
Company limited by guarantee
The company is limited by guarantee and has no share capital.
The liability of each member is limited to £1, being the amount each member undertakes to contribute to the assets of the Association in the event of its being wound up while they are a member or within one year after they cease to be a member, for:
i.
payment of the Association's debts and liabilities contracted before they cease to be a member,
ii. payment of the costs, charges and expenses of winding up, and
iii. adjustment of the rights of the contributions among themselves.
5.
Employee numbers
The average number of persons employed by the company during the year amounted to
3
(2021:
2
).
6.
Intangible assets
Website costs |
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£ |
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Cost |
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At 1 January 2022 and 31 December 2022 |
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------- |
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Amortisation |
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At 1 January 2022 |
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Charge for the year |
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------- |
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At 31 December 2022 |
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------- |
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Carrying amount |
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At 31 December 2022 |
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------- |
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At 31 December 2021 |
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------- |
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7.
Tangible assets
Furniture, fittings & equipment |
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£ |
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Cost |
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At 1 January 2022 |
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Disposals |
(
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------- |
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At 31 December 2022 |
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------- |
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Depreciation |
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At 1 January 2022 |
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Charge for the year |
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Disposals |
(
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------- |
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At 31 December 2022 |
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------- |
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Carrying amount |
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At 31 December 2022 |
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------- |
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At 31 December 2021 |
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------- |
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8.
Investments
Other investments other than loans |
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£ |
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Cost |
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At 1 January 2022 |
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Additions |
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Disposals |
(
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Revaluations |
(
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At 31 December 2022 |
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Impairment |
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At 1 January 2022 and 31 December 2022 |
– |
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Carrying amount |
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At 31 December 2022 |
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At 31 December 2021 |
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9.
Debtors
2022 |
2021 |
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£ |
£ |
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Trade debtors |
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Other debtors |
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10.
Creditors:
amounts falling due within one year
2022 |
2021 |
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£ |
£ |
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Trade creditors |
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Social security and other taxes |
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Other creditors |
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