| METAL GUTTER MANUFACTURERS ASSOCIATION LIMITED |
| Registered number: |
06476148 |
| Balance Sheet |
| as at 31 December 2019 |
|
| Notes |
|
|
2019 |
|
|
2018 |
| £ |
£ |
| Current assets |
| Debtors |
2 |
|
- |
|
|
339 |
| Cash at bank and in hand |
|
|
35,622 |
|
|
29,826 |
|
|
|
35,622 |
|
|
30,165 |
|
| Creditors: amounts falling due within one year |
3 |
|
(918) |
|
|
(1,676) |
|
| Net current assets |
|
|
|
34,704 |
|
|
28,489 |
|
| Net assets |
|
|
|
34,704 |
|
|
28,489 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Profit and loss account |
|
|
|
34,704 |
|
|
28,489 |
|
| Shareholders' funds |
|
|
|
34,704 |
|
|
28,489 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| Mr C Jones |
| Director |
| Approved by the board on 12 February 2020 |
|
| METAL GUTTER MANUFACTURERS ASSOCIATION LIMITED |
| Notes to the Accounts |
| for the year ended 31 December 2019 |
|
|
| 1 |
Accounting policies |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
| 2 |
Debtors |
2019 |
|
2018 |
| £ |
£ |
|
|
VAT |
- |
|
339 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Creditors: amounts falling due within one year |
2019 |
|
2018 |
| £ |
£ |
|
|
Bank loans and overdrafts |
460 |
|
951 |
|
Taxation and social security costs |
(141) |
|
6 |
|
Other creditors |
599 |
|
719 |
|
|
|
|
|
|
918 |
|
1,676 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Controlling party |
|
|
The company is controlled by the members jointly. |
|
|
| 5 |
Other information |
|
|
METAL GUTTER MANUFACTURERS ASSOCIATION LIMITED is a private company limited by guarantee, without share capital. As a non-profit making organisation it is only subject to taxation by HM Revenue and Customs on its investment income. The company was incorporated in England & its registered office is: |
|
International House |
|
12 Constance Street |
|
London |
|
E16 2DQ |
