Mid Yorkshire Chamber of Commerce - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 00009141 (England and Wales)

THE MID YORKSHIRE CHAMBER OF COMMERCE

AND INDUSTRY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 DECEMBER 2022

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

T G Welton

A P Turner

M J Hathaway

S Hopkins

M W Evans

S M Moore

S E Whitton

E A Brown

M Cooper

SECRETARY:

Eaton Smith LLP

REGISTERED OFFICE:

County Hall

Bond Street

Wakefield

WF1 2QW

REGISTERED NUMBER:

00009141 (England and Wales)

FIXED ASSETS

Tangible assets

4

-

-

Investments

5

1,300

1,300

1,300

1,300

CURRENT ASSETS

Debtors

109,030

117,121

Cash at bank and in hand

415,807

531,720

524,837

648,841

CREDITORS

Amounts falling due within one year

493,006

570,437

NET CURRENT ASSETS

31,831

78,404

TOTAL ASSETS LESS CURRENT LIABILITIES

33,131

79,704

RESERVES

Retained earnings

33,131

79,704

33,131

79,704

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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 profit or loss 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2022 in accordance with Section 444(2A) of the Companies Act 2006.

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 25 August 2023 and were signed on its behalf by:

M J Hathaway - Director

1.	STATUTORY INFORMATION

The Mid Yorkshire Chamber of Commerce and Industry 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 comprises the value of services provided excluding value added tax.

The level of operating income also reflects the service charges generated by the issue and redemption of childcare vouchers, and other income including that generated by vouchers which have not, or are not expected to be, redeemed. Service charge income is recognised when vouchers are issued.

Tangible fixed assets

Depreciation is calculated so as to write off the cost of an asset over the useful economic life of that asset as follows:

Fixtures and fittings - 2 to 10 years straight line

Computer equipment - 3 years straight line

In the year of acquisition, tangible fixed assets are depreciated from the date of purchase.

The carrying values of fixed assets are reviewed for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

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.

Grants

Grants in respect of expenditure on tangible fixed assets are treated as deferred income which is credited to the profit and loss account by instalments over the expected useful economic life of the related assets on a basis consistent with depreciation policy. Grants of a revenue nature are recognised in the profit and loss account of the period in respect of which they are payable.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2021 - 13 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2022

and 31 December 2022

5,247

DEPRECIATION

At 1 January 2022

and 31 December 2022

5,247

NET BOOK VALUE

At 31 December 2022

-

At 31 December 2021

-

5.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 January 2022

and 31 December 2022

3,799

PROVISIONS

At 1 January 2022

and 31 December 2022

2,499

NET BOOK VALUE

At 31 December 2022

1,300

At 31 December 2021

1,300

6.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2022

2021

£

£

Within one year

15,033

36,150

Between one and five years

-

15,033

15,033

51,183

7.	CONTINGENT LIABILITIES

The company has previously acted as a guarantor to The West Yorkshire Enterprise Agency Limited (in Administration) relating to an historic contract. The directors believe that the guarantee is not valid, no claim has been received to date relating to the guarantor and no such claim is considered likely to occur.

8.	COMPANY LIMITED BY GUARANTEE

The company is limited by guarantee for an amount not exceeding £5 per member, less any calls previously made. At 31 December 2022 no calls had been made by members.

9.	GOVERNMENT ASSISTANCE

During the year the company has received apprentice funding from DWP amounting to £11,769 (2021 £13,112). Amounts recognised are included in Other Income.