The Incorporated Society of Organ Builders - Period Ending 2022-12-31

The Incorporated Society of Organ Builders

Contents

Company Information	1
Report by the Council	2 to 3
Balance Sheet	4 to 5
Notes to the Unaudited Financial Statements	6 to 8

The Incorporated Society of Organ Builders

Company Information

 

Directors

M Macdonald FISOB - President D R G Spencer FISOB - Vice President A Macdonald FISOB - Treasurer J A Barnes FISOB P J Barnes FISOB R G Ince FISOB S N Lemmings CISOB

Company secretary

A E Hayden

Registered office

79 The Common Freethorpe Norwich Norfolk NR13 3LX

Accountants

The Hay Group Chartered Certified Accountants Berkeley House Dix's Field Exeter Devon EX1 1PZ

The Incorporated Society of Organ Builders

Report by the Council for the Year Ended 31 December 2022

The directors present their report and the financial statements for the year ended 31 December 2022.

Aims of the Society

The Incorporated Society of Organ Builders (ISOB) was formed in 1947. It has three main aims: to advance the science and practice of organ building, to provide a central organisation for organ builders and to provide for the better definition and protection of the profession by a system of examinations and the issue of certificates and distinctions. It does not carry on a trade.

Council members
The council members during the year under review were as follows:
M Macdonald FISOB - President
D R G Spencer FISOB - Vice President
A Macdonald FISOB - Treasurer
J A Barnes FISOB
P J Barnes FISOB
A E Hayden
R G Ince FISOB
S N Lemmings CISOB

Statement of the Responsibilities of the Council

The directors acknowledge their responsibilities for preparing the Report by the Council and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the surplus or deficit of the company for that period. In preparing these financial statements, the directors are required to:

•	select suitable accounting policies and apply them consistently;

•	make judgements and accounting estimates that are reasonable and prudent;

•	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

The Incorporated Society of Organ Builders

Report by the Council for the Year Ended 31 December 2022 (continued)

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the council on 27 July 2023 and signed on its behalf by:

.........................................
M Macdonald FISOB - President
Director

.........................................
D R G Spencer FISOB - Vice President
Director

The Incorporated Society of Organ Builders

(Registration number: 00434393)
Balance Sheet as at 31 December 2022

	Note	2022 £	2021 £
Fixed assets
Tangible assets	4	660	1,020
Current assets
Stocks	5	-	51
Debtors	6	49	43
Cash at bank and in hand		12,186	15,348
		12,235	15,442
Creditors: Amounts falling due within one year	7	(480)	(444)
Net current assets		11,755	14,998
Net assets		12,415	16,018
Reserves
Retained earnings		12,415	16,018
Surplus		12,415	16,018

For the financial year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

The Incorporated Society of Organ Builders

(Registration number: 00434393)
Balance Sheet as at 31 December 2022 (continued)

Approved and authorised by the council on 27 July 2023 and signed on its behalf by:
 

.........................................

M Macdonald FISOB - President
Director

.........................................

D R G Spencer FISOB - Vice President
Director

The Incorporated Society of Organ Builders

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

1	General information

The company is a company limited by guarantee, incorporated in England & Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation. The company's registered number and registered office address can be found on the company information page.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Income includes subscriptions due for 2022 and received up to the end of the year of the accounts and also those subscriptions received or expected to be received after 31 December 2022 that relate to the year of the accounts.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Office equipment and insignia	20.0% on reducing balance
Website	33.3% on straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from members for subscriptions up to the date of the financial statements.

The Incorporated Society of Organ Builders

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022 (continued)

Stocks

Stocks are stated at cost.

Trade creditors

Trade creditors are subscriptions and conference costs paid in advance and obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2021 - 0).

The Incorporated Society of Organ Builders

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022 (continued)

4	Tangible assets

	Website £	Insignia £	Office equipment £	Total £
Cost or valuation
At 1 January 2022	1,800	1,224	548	3,572
Additions	900	-	-	900
At 31 December 2022	2,700	1,224	548	4,472
Depreciation
At 1 January 2022	1,980	1,002	470	3,452
Charge for the year	300	44	16	360
At 31 December 2022	2,280	1,046	486	3,812
Carrying amount
At 31 December 2022	420	178	62	660
At 31 December 2021	720	222	78	1,020

5

Stocks

	2022 £	2021 £
Stock of ties and badges	-	51

6

Debtors

Current	2022 £	2021 £
Trade debtors	-	18
Prepayments	49	25
	49	43

7

Creditors

Creditors: amounts falling due within one year

	2022 £	2021 £
Due within one year
Trade creditors	480	444