The Association of Old Vehicle Clubs in Northern Ireland Limited - Period Ending 2016-09-30
The Association of Old Vehicle Clubs in Northern Ireland Limited - Period Ending 2016-09-30
Registration number:
(A company limited by guarantee)
for the Year Ended
The Association of Old Vehicle Clubs in Northern Ireland Limited
Contents
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Accountants' Report |
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Abbreviated Balance Sheet |
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Notes to the Abbreviated Accounts |
The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.
Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
The Association of Old Vehicle Clubs in Northern Ireland Limited
for the Year Ended 30 September 2016
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of The Association of Old Vehicle Clubs in Northern Ireland Limited for the year ended 30 September 2016 set out on pages 2-4 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in Ireland (ICAI), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
This report is made solely to the Board of Directors of The Association of Old Vehicle Clubs in Northern Ireland Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of The Association of Old Vehicle Clubs in Northern Ireland Limited and state those matters that we have agreed to state to them, as a body, in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Association of Old Vehicle Clubs in Northern Ireland Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that The Association of Old Vehicle Clubs in Northern Ireland Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of The Association of Old Vehicle Clubs in Northern Ireland Limited. You consider that The Association of Old Vehicle Clubs in Northern Ireland Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of The Association of Old Vehicle Clubs in Northern Ireland Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
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D T Carson & Co
51-53 Thomas Street
Ballymena
Co. Antrim
BT43 6AZ
27 April 2017
The Association of Old Vehicle Clubs in Northern Ireland Limited
(Registration number: NI013390)
Abbreviated Balance Sheet as at 30 September 2016
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Note |
2016 |
2015 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Cash at bank and in hand |
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Prepayments and accrued income |
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Net current assets |
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Total assets less current liabilities |
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Accruals and deferred income |
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( |
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Net assets |
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Capital and reserves |
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Profit and loss account |
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Shareholders funds |
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For the year ending 30 September 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
Approved by the Board on
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Hugh Desmond Shortt
Director
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Trevor Mitchell
Director
The Association of Old Vehicle Clubs in Northern Ireland Limited
Notes to the Abbreviated Accounts
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Accounting policies |
Basis of preparation
The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Going concern
The financial statements have been prepared on a going concern basis.
Turnover
Turnover represents amounts received in respect of entry fees, vehicle inspection receipts & other sundry income.
Revenue recognition
Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance.
Depreciation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
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Asset class |
Depreciation method and rate |
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Equipment |
20% reducing balance |
Foreign currency
Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.
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Fixed assets |
The Association of Old Vehicle Clubs in Northern Ireland Limited
Notes to the Abbreviated Accounts
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Tangible assets |
Total |
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Cost |
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At 1 October 2015 |
3,738 |
3,738 |
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At 30 September 2016 |
3,738 |
3,738 |
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Depreciation |
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At 1 October 2015 |
2,674 |
2,674 |
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Charge for the year |
213 |
213 |
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At 30 September 2016 |
2,887 |
2,887 |
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Net book value |
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At 30 September 2016 |
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At 30 September 2015 |
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Company status |
The company is a private 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.