International Taekwon-Do Federation - (Scotland) Limited Micro entities accounts

International Taekwon-Do Federation - (Scotland) Limited Micro entities accounts

INTERNATIONAL TAEKWON-DO FEDERATION - (SCOTLAND) LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: SC374072
International Taekwon-Do Federation - (Scotland) Limited
Company Limited by Guarantee
Unaudited Financial Statements
31 March 2018
PHILIP BALD ACCOUNTANCY
Chartered Certified Accountants
3B Ormiston Terrace
Edinburgh
EH12 7SJ
International Taekwon-Do Federation - (Scotland) Limited
Company Limited by Guarantee
Financial Statements
Year ended 31st March 2018
Contents
Page
Directors' report
1
Income statement
3
Statement of financial position and the notes to the financial statements
4
International Taekwon-Do Federation - (Scotland) Limited
Company Limited by Guarantee
Directors' Report
Year ended 31st March 2018
The directors present their report and the unaudited financial statements of the company for the year ended 31 March 2018 .
Directors
The directors who served the company during the year were as follows:
Mrs G McIlvaney
Mr T T MacCallum
Mr D McNairn
Mr D Condie
Mr R Blair
Mr G Shaw
Mr J Campins
Mr P. Mullen
Mr A Paterson - President
Mrs J Timoney
(Appointed 22 November 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 24 December 2018 and signed on behalf of the board by:
Mrs G McIlvaney
Director
Registered office:
3b Ormiston Terrace
Edinburgh
Scotland
EH12 7SJ
International Taekwon-Do Federation - (Scotland) Limited
Company Limited by Guarantee
Income Statement
Year ended 31st March 2018
2018
2017
£
£
Turnover
28,993
33,623
Cost of raw materials and consumables
( 23,375)
( 21,190)
Other charges
(9,169)
(6,832)
Tax
686
( 1,120)
--------
--------
(Loss)/profit
( 2,865)
4,481
--------
--------
International Taekwon-Do Federation - (Scotland) Limited
Company Limited by Guarantee
Statement of Financial Position
31 March 2018
2018
2017
£
£
£
Current assets
9,686
13,787
Creditors: amounts falling due within one year
85
85
-------
--------
Net current assets
9,601
13,702
-------
--------
Total assets less current liabilities
9,601
13,702
Accruals and deferred income
900
2,136
-------
--------
8,701
11,566
-------
--------
Capital and reserves
8,701
11,566
-------
--------
Notes to the financial statements
1. Directors' advances, credits and guarantees
At no time during the year were there any directors advances and credits.
For the year ending 31st March 2018 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 .
These financial statements have been prepared in accordance with the micro-entity provisions.
These financial statements were approved by the board of directors and authorised for issue on 24 December 2018 , and are signed on behalf of the board by:
Mrs G McIlvaney
Director
Company registration number: SC374072
The company is a private company limited by guarantee, registered in Scotland.
International Taekwon-Do Federation - (Scotland) Limited
Company Limited by Guarantee
Management Information
Year ended 31st March 2018
The following pages do not form part of the financial statements.
International Taekwon-Do Federation - (Scotland) Limited
Chartered Certified Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of International Taekwon-Do Federation - (Scotland) Limited
Year ended 31st March 2018
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of International Taekwon-Do Federation - (Scotland) Limited for the year ended 31st March 2018, which comprise the income statement, statement of financial position and the notes to the financial statements from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. This report is made solely to the Board of Directors of International Taekwon-Do Federation - (Scotland) Limited, as a body, in accordance with the terms of our engagement letter dated ***Please fill in the Date of Engagement in field 9 of Client Database > Setup > Action Dates***. Our work has been undertaken solely to prepare for your approval the financial statements of International Taekwon-Do Federation - (Scotland) Limited and state those matters that we have agreed to state you, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than International Taekwon-Do Federation - (Scotland) Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that International Taekwon-Do Federation - (Scotland) Limited 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 International Taekwon-Do Federation - (Scotland) Limited. You consider that International Taekwon-Do Federation - (Scotland) 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 financial statements of International Taekwon-Do Federation - (Scotland) 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 financial statements.
PHILIP BALD ACCOUNTANCY Chartered Certified Accountants
3B Ormiston Terrace Edinburgh EH12 7SJ
24 December 2018
International Taekwon-Do Federation - (Scotland) Limited
Detailed Income Statement
Year ended 31st March 2018
2018
2017
£
£
Turnover
Certificate & Plaque Income
7,027
7,863
Tournament Income
18,075
23,060
Group Affiliation Fees
600
1,080
Grading Fees
-
250
Instructors Course
1,486
655
Masters Seminar
-
715
Africa Development Seminar
1,805
-
--------
--------
28,993
33,623
--------
--------
Cost of raw materials and consumables
Certificate costs
6,184
7,131
Competition expenses
14,953
12,942
Clothing costs
1,913
-
Instructor Course
250
378
Affiliation Fees
-
174
Child Protection and Disclosure Scotland
75
565
--------
--------
23,375
21,190
--------
--------
Other charges
(9,169)
(6,832)
-------
-------
(3,551)
5,601
-------
-------
International Taekwon-Do Federation - (Scotland) Limited
Notes to the Detailed Income Statement
Year ended 31st March 2018
2018
2017
£
£
Other charges
International Grading Exam Fees
-
549
Masters Seminar
300
200
Africa Developmet Seminar
2,870
-
Insurance
414
468
Travel, accommodation and subsistence
3,660
3,156
Printing postage and stationery
62
300
AGM Presentations and Plaque
360
790
Website
261
204
Bank charges
232
189
Accountancy fees
1,016
990
Interest on cash and cash equivalents
6
14
-------
-------
9,169
6,832
-------
-------