The Association of Relocation Professionals - Period Ending 2023-05-31

The Association of Relocation Professionals

Contents

Balance Sheet	1
Notes to the Unaudited Financial Statements	2 to 5

The Association of Relocation Professionals

(Registration number: 02026926)
Balance Sheet as at 31 May 2023

	Note	2023 £	2022 £
Current assets
Debtors	5	10,494	4,972
Cash at bank and in hand		3,722	8,986
		14,216	13,958
Creditors: Amounts falling due within one year	6	(13,503)	(10,247)
Net assets		713	3,711
Capital and reserves
Income and expenditure account		713	3,711
Total		713	3,711

For the financial year ending 31 May 2023 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 Income and Expenditure Account.

Approved and authorised by the Board on 4 October 2023 and signed on its behalf by:
 

......................................... D E Zurlinden Company secretary and director

The Association of Relocation Professionals

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

1	General information

The company is a company limited by guarantee, incorporated in England and 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 address of its registered office is:
Meadowside
Pottery Hill
Wattisfield
Diss
Norfolk
IP22 1NH

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. The directors believe that the company can continue as a going concern. Over the last year our focus has been of our ‘Political Engagement’ project and this is beginning to show results and is attracting interest from non-member organisations some of whom will join the Association and thus increase our general income. We are also pushing hard to attract sponsorship so that we are in a position to carry out some much needed research. We have also increased our training programme and our events are attracting greater numbers.

Income recognition

Subscriptions are charged annually and become payable on the anniversary of when a company joined the organisation, which for the majority of members is 1 June or 1 September. As the main benefits are provided in the Autumn, it is the company's policy not to defer any portion of the subscriptions at the year end. All subscriptions receivable between 1 June and 31 May (the financial year) are therefore accounted for within that financial year.

Conference income and expenditure is recognised when the conference takes place.

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 provided using the straight line basis at rates which reflect the anticipated useful lives of the assets and their estimated residual values.

The Association of Relocation Professionals

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

Asset class	Depreciation method and rate
Computer equipment	33.3%

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.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are 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 (2022 - 0).

Personnel costs are recharged to the company by European Relocation Association (see note 7).

The Association of Relocation Professionals

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

4	Tangible assets

	Office equipment £	Total £
Cost or valuation
At 1 June 2022	4,251	4,251
At 31 May 2023	4,251	4,251
Depreciation
At 1 June 2022	4,251	4,251
At 31 May 2023	4,251	4,251
Carrying amount
At 31 May 2023	-	-

5

Debtors

Current	2023 £	2022 £
Trade debtors	8,574	3,010
Prepayments	1,920	1,962
	10,494	4,972

6

Creditors

Creditors: amounts falling due within one year

	2023 £	2022 £
Due within one year
Trade creditors	900	-
Taxation and social security	723	3,545
Other creditors	11,880	6,702
	13,503	10,247

The Association of Relocation Professionals

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

7	Related party transactions

Summary of transactions with other related parties

European Relocation Association (EuRA)
(common director Derry Zurlinden)
 During the year recharges of costs were made between the Association of Relocation Professionals and EuRA on an arm's length basis.