The Association of Old Vehicle Clubs in Northern Ireland Limited - Period Ending 2023-09-30

The Association of Old Vehicle Clubs in Northern Ireland Limited

Contents

Balance Sheet	1
Notes to the Unaudited Financial Statements	2 to 3

The Association of Old Vehicle Clubs in Northern Ireland Limited

(Registration number: NI013390)
Balance Sheet as at 30 September 2023

	Note	2023 £	2022 £
Fixed assets
Tangible assets	4	179	224
Current assets
Debtors	5	127	280
Cash at bank and in hand		22,156	21,730
		22,283	22,010
Creditors: Amounts falling due within one year	6	(1,218)	(1,344)
Net current assets		21,065	20,666
Net assets		21,244	20,890
Reserves
Retained earnings		21,244	20,890
Surplus		21,244	20,890

For the financial year ending 30 September 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 Profit and Loss Account.

Approved and authorised by the Board on 22 April 2024 and signed on its behalf by:
 

......................................... Trevor Mitchell Company secretary and director

......................................... Hugh Desmond Shortt Director

The Association of Old Vehicle Clubs in Northern Ireland Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

1	General information

The company is a company limited by guarantee, incorporated in Northern Ireland, 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:
38 Ballymaconnell Road
Bangor
Co Down
BT20 5PS

These financial statements were authorised for issue by the Board on 22 April 2024.

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

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation.

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
Equipment	20% reducing balance

The Association of Old Vehicle Clubs in Northern Ireland Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2022 - 7).

4	Tangible assets

	Other tangible assets £	Total £
Cost or valuation
At 1 October 2022	3,738	3,738
At 30 September 2023	3,738	3,738
Depreciation
At 1 October 2022	3,514	3,514
Charge for the year	45	45
At 30 September 2023	3,559	3,559
Carrying amount
At 30 September 2023	179	179
At 30 September 2022	224	224

5

Debtors

	2023 £	2022 £
Prepayments	127	140
Other debtors	-	140
	127	280

6

Creditors

Creditors: amounts falling due within one year

	2023 £	2022 £
Due within one year
Accruals and deferred income	1,218	1,344

7	Share capital

The company is a private limited company, limited by guarantee 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.