The International Meat Trade Ass. Inc. - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 00105383 (England and Wales)

INTERNATIONAL MEAT TRADE ASSOCIATION

INCORPORATED(THE)

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M A Boanas

B Chick

J Whitlam

P Dolan

J R D Parsons

M A Murphy

R Mollison

J W Ressell

R W Haesakkers

G A W Harmer

M D Glass

S Davies

S Tyndall

M D Alcorn

M Flood

D J Dwyer

N J Sherwood

J Marshall

M Stratford

SECRETARY:

K Doherty

REGISTERED OFFICE:

Suite A & B

Second Floor

79a Charterhouse Street

London

EC1M 6HJ

REGISTERED NUMBER:

00105383 (England and Wales)

AUDITORS:

Spurling Cannon Audit Limited

424 Margate Road

Westwood

Ramsgate

Kent

CT12 6SJ

FIXED ASSETS

Tangible assets

4

9,663

6,889

CURRENT ASSETS

Debtors

5

5,702

6,710

Prepayments and accrued income

1,516

1,431

Cash at bank

405,327

378,371

412,545

386,512

CREDITORS

Amounts falling due within one year

6

(67,764

)

(68,204

)

NET CURRENT ASSETS

344,781

318,308

TOTAL ASSETS LESS CURRENT LIABILITIES

354,444

325,197

RESERVES

Income and expenditure account

354,444

325,197

354,444

325,197

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 6 September 2023 and were signed on its behalf by:

M A Boanas - Director

1.	STATUTORY INFORMATION

International Meat Trade Association Incorporated(The) 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixture & Fittings

-

15% on reducing balance

Computer equipment

-

25% on reducing balance

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2021 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Fixture &

Computer

Fittings

equipment

Totals

£

£

£

COST

At 1 January 2022

14,146

9,367

23,513

Additions

-

5,330

5,330

At 31 December 2022

14,146

14,697

28,843

DEPRECIATION

At 1 January 2022

9,168

7,456

16,624

Charge for year

746

1,810

2,556

At 31 December 2022

9,914

9,266

19,180

NET BOOK VALUE

At 31 December 2022

4,232

5,431

9,663

At 31 December 2021

4,978

1,911

6,889

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

2,520

-

Sundry debtors

-

3,672

VAT

3,182

3,038

5,702

6,710

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Corporation Tax

5,835

10,566

Sundry creditors and accrued expenses

61,929

57,638

67,764

68,204

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

The Report of the Auditors was unqualified.

Jonathan Spurling (Senior Statutory Auditor)

for and on behalf of Spurling Cannon Audit Limited

8.

GUARANTEE

The members of the company have agreed to contribute £5 each to the assets of the company in the event of it being wound up.

9.

TITLE

The Association is exempt, pursuant to Section 30 of the Companies Act 1985, from the inclusion of the word Limited in its title.