Licensing Executives Society Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 01103462 (England and Wales)

Unaudited Financial Statements

For The Year Ended 31 December 2016

for

Licensing Executives Society Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

D Davis

Dr H French

C Hunsley

Ms C.M. Mitchell

Ms F.M.M. Nicolson

R.M.C. Nott

Ms J.J. Pierce

S.D. Powell

M.C. Sandford

D.J. Veasey

M.W. Wilson

S Robertson

R Willoughby

S Chalkley

D Abrahams

C A Griffin

SECRETARY:

S Chalkley

REGISTERED OFFICE:

C/o Keens Shay Keens Limited

2nd Floor, Exchange Building

16 St Cuthberts Street

Bedford

Bedfordshire

MK40 3JG

REGISTERED NUMBER:

01103462 (England and Wales)

ACCOUNTANTS:

Atkinson Donnelly LLP

1 Cambuslang Court

Cambuslang

Glasgow

Strathclyde

G32 8FH

FIXED ASSETS

Investments

3

25,000

25,000

CURRENT ASSETS

Debtors

4

2,385

1,255

Cash at bank

143,521

129,309

145,906

130,564

CREDITORS

Amounts falling due within one year

5

9,639

7,203

NET CURRENT ASSETS

136,267

123,361

TOTAL ASSETS LESS CURRENT LIABILITIES

161,267

148,361

RESERVES

Income and expenditure account

161,267

148,361

161,267

148,361

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 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 surplus or deficit 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 28 August 2017 and were signed on its behalf by:

S Chalkley - Director

1.	STATUTORY INFORMATION

Licensing Executives Society 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents the annual subscriptions and fees etc, from members' meetings and conferences.

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.

3.	FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:

31.12.16

31.12.15

£

£

Bonds

25,000

25,000

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Prepayments

2,385

1,255

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Tax

980

142

Accruals and deferred income

5,738

4,733

Accrued expenses

2,921

2,328

9,639

7,203

6.	RELATED PARTY DISCLOSURES

The only transactions with the directors were contributions paid to them towards delegates costs to attend international

conferences, the amounts paid totalled £1,597 (2015 £2,489)