JudoScotland Company accounts

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COMPANY REGISTRATION NUMBER: SC113172

JudoScotland

Company Limited by Guarantee

Unaudited Financial Statements

31 December 2017

JudoScotland

Company Limited by Guarantee

Financial Statements

Year ended 31 December 2017

Contents	Page

Directors' report	1

Statement of income and retained earnings	3

Statement of financial position	4

Notes to the financial statements	6

The following pages do not form part of the financial statements

Report to the board of directors on the preparation of the unaudited statutory financial statements	11

Detailed income statement	12

Notes to the detailed income statement	13

JudoScotland

Company Limited by Guarantee

Directors' Report

Year ended 31 December 2017

The directors present their report and the unaudited financial statements of the company for the year ended 31 December 2017 .

Directors

The directors who served the company during the year were as follows:

Mr R Saez
Miss S Clark
Mr D Gibson
Mr J McBeath
Mr M A Preston
Mr G H Campbell
Mrs S Wright	(Appointed 2 September 2017)
Mr R A Sneddon	(Resigned 2 September 2017)

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 20 March 2018 and signed on behalf of the board by:

Mr R Saez	Mr G H Campbell
Director	Director

Registered office:

South Platt Hill

Ratho

Newbridge

Midlothian

Scotland

EH28 8AA

JudoScotland

Company Limited by Guarantee

Statement of Income and Retained Earnings

Year ended 31 December 2017

	2017	2016
Note	£	£
Turnover	1,007,032	1,088,650

Cost of sales	1,025,878	1,088,180
	------------	------------
Gross (loss)/profit	( 18,846)	470

	--------	----
Operating (loss)/profit	( 18,846)	470

Other interest receivable and similar income	5	43	161
		--------	----
(Loss)/profit before taxation		( 18,803)	631

Tax on (loss)/profit	9	63
	--------	----
(Loss)/profit for the financial year and total comprehensive income	( 18,812)	568
	--------	----

Retained earnings at the start of the year	228,024	227,456
	---------	---------
Retained earnings at the end of the year	209,212	228,024
	---------	---------

All the activities of the company are from continuing operations.

JudoScotland

Company Limited by Guarantee

Statement of Financial Position

31 December 2017

	2017		2016
Note	£	£	£

Fixed assets

Tangible assets	6	4,787	11,252
Investments	7	2	2
		-------	--------
		4,789	11,254

Current assets

Debtors	8	41,585	56,650
Cash at bank and in hand		384,651	359,270
		---------	---------
		426,236	415,920

Creditors: amounts falling due within one year	9	221,813		199,150
		---------		---------
Net current assets			204,423	216,770
			---------	---------
Total assets less current liabilities			209,212	228,024
			---------	---------
Net assets			209,212	228,024
			---------	---------

Capital and reserves

Profit and loss account	209,212	228,024
	---------	---------
Members funds	209,212	228,024
	---------	---------

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

For the year ending 31 December 2017 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 financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

JudoScotland

Company Limited by Guarantee

Statement of Financial Position (continued)

31 December 2017

These financial statements were approved by the board of directors and authorised for issue on 20 March 2018 , and are signed on behalf of the board by:

Mr R Saez	Mr G H Campbell
Director	Director

Company registration number: SC113172

JudoScotland

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 December 2017

1. General information

The company is a private company limited by guarantee, registered in Scotland. The address of the registered office is South Platt Hill, Ratho, Newbridge, Midlothian, EH28 8AA, Scotland.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

The financial statements contain information about JudoScotland as an individual company and do not contain consolidated financial information as the parent of a group. The company has taken the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

Revenue recognition

The income of the company consists of grants and awards, membership fees, grading and championship income and other sundry items. Income is recognised at the point at which goods are delivered or the service is complete.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Plant & Machinery	-	25% straight line

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Investments in joint ventures

Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

4. Company limited by guarantee

The Company is Limited by Guarantee

5. Other interest receivable and similar income

	2017	2016
	£	£
Interest on cash and cash equivalents	43	161
	----	----

6. Tangible assets

	Land and buildings	Plant and machinery	Total
	£	£	£
Cost
At 1 January 2017 and 31 December 2017	9,706	90,605	100,311
	-------	--------	---------
Depreciation
At 1 January 2017	9,706	79,353	89,059
Charge for the year	–	6,465	6,465
	-------	--------	---------
At 31 December 2017	9,706	85,818	95,524
	-------	--------	---------
Carrying amount
At 31 December 2017	–	4,787	4,787
	-------	--------	---------
At 31 December 2016	–	11,252	11,252
	-------	--------	---------

7. Investments

	Other investments other than loans
	£
Cost
At 1 January 2017 and 31 December 2017	2
	----
Impairment
At 1 January 2017 and 31 December 2017	–
	----

Carrying amount
At 31 December 2017	2
	----

8. Debtors

	2017	2016
	£	£
Trade debtors	11,607	41,971
Other debtors	29,978	14,679
	--------	--------
	41,585	56,650
	--------	--------

9. Creditors: amounts falling due within one year

	2017	2016
	£	£
Trade creditors	10,142	1,053
Corporation tax	9	63
Other creditors	211,662	198,034
	---------	---------
	221,813	199,150
	---------	---------

10. Related party transactions

The property from which the business trades is leased by National Judo Academy Limited, an associated company. The total amount of rent invoiced from National Judo Academy Limited in the year was £44,669 (2016: £44,669). A management charge is processed from JudoScotland to National Judo Academy in respect of finance activites. The total amount of management charges invoiced from JudoScotland in the year was £1,200 (2016: £1,200).

JudoScotland

Company Limited by Guarantee

Management Information

Year ended 31 December 2017

The following pages do not form part of the financial statements.

JudoScotland

Company Limited by Guarantee

Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of JudoScotland

Year ended 31 December 2017

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of JudoScotland for the year ended 31 December 2017, which comprise the statement of income and retained earnings, statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Chartered Institute of Management Accountants, we are subject to its ethical and other professional requirements which are detailed at www.cimaglobal.com. This report is made solely to the Board of Directors of JudoScotland, as a body, in accordance with the terms of our engagement letter dated 31 May 2016. Our work has been undertaken solely to prepare for your approval the financial statements of JudoScotland and state those matters that we have agreed to state to you, as a body, in this report in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at www.cimaglobal.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than JudoScotland and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that JudoScotland has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of JudoScotland. You consider that JudoScotland 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 financial statements of JudoScotland. 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 financial statements.

GORDON MAVOR & CO LTD Chartered accountant

39 Bryce Road Edinburgh Scotland EH14 5LP

20 March 2018

JudoScotland

Detailed Income Statement

Year ended 31 December 2017

	2017	2016
	£	£
Turnover	1,007,032	1,088,650

Cost of sales

Leadership and governance	19,791	24,956
Membership development	228,184	214,817
Gradings	7,681	6,083
National development	29,174	22,197
People development	69,849	62,257
Membership events	76,060	71,338
Performance development	349,627	406,579
Business support	212,558	239,006
Communications and marketing	32,954	40,947
	------------	------------
	1,025,878	1,088,180

	------------	------------
Gross (loss)/profit	( 18,846)	470

	------------	------------
Operating (loss)/profit	( 18,846)	470

Other interest receivable and similar income	43	161

	--------	----
(Loss)/profit before taxation	( 18,803)	631
	--------	----

JudoScotland

Notes to the Detailed Income Statement

Year ended 31 December 2017

	2017	2016
	£	£

Other interest receivable and similar income

Interest on cash and cash equivalents	43	161
	----	----