National Ice Skating Association - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02677064 (England and Wales)

Financial Statements for the Year Ended 30 September 2019

for

National Ice Skating Association

Of The United Kingdom Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

D M Hartley

I Gooch

J H Young

T J Fell

A C Hembrow-Jones

L K Jarvis

D H E Thomson

R Proctor

D A Johnson

A C Hughes

REGISTERED OFFICE:

EIS Sheffield

Coleridge Road

Sheffield

South Yorkshire

S9 5DA

REGISTERED NUMBER:

02677064 (England and Wales)

AUDITORS:

Botham Accounting Limited

Chartered Accountants

Statutory Auditors

14 Clarendon Street

Nottingham

Nottinghamshire

NG1 5HQ

FIXED ASSETS

Tangible assets

4

25,654

26,262

CURRENT ASSETS

Stocks

2,976

11,799

Debtors

5

40,460

42,437

Cash at bank and in hand

733,262

577,225

776,698

631,461

CREDITORS

Amounts falling due within one year

6

192,489

167,025

NET CURRENT ASSETS

584,209

464,436

TOTAL ASSETS LESS CURRENT LIABILITIES

609,863

490,698

RESERVES

Income and expenditure account

8

609,863

490,698

609,863

490,698

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 April 2020 and were signed on its behalf by:

D M Hartley - Director

1.	STATUTORY INFORMATION

National Ice Skating Association Of The United Kingdom 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The functional currency of National Ice Skating Association of the United Kingdom Limited is

considered to be pounds sterling.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Statue

-

5% on cost

Video equipment

-

20% on cost

Fixtures, equipment & trophies

-

20% on cost and 0% per annum

Computer equipment

-

20% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of

Income and Retained Earnings, 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.

Foreign currencies

Foreign currency transactions are converted to sterling at the rate prevailing on the date of the

transaction. The closing balance on the account at the year end is converted at the closing rate, with

any exchange rate gains or losses being shown on the profit and loss account.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to surplus or deficit on a straight line basis over the

period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2018 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures,

Video

equipment

Computer

Statue

equipment

& trophies

equipment

Totals

£

£

£

£

£

COST

At 1 October 2018

34,580

14,906

39,352

28,760

117,598

Additions

-

-

3,366

4,240

7,606

Disposals

-

-

(7,632

)

(1,692

)

(9,324

)

At 30 September 2019

34,580

14,906

35,086

31,308

115,880

DEPRECIATION

At 1 October 2018

25,935

14,906

33,195

17,300

91,336

Charge for year

1,729

-

1,508

4,977

8,214

Eliminated on disposal

-

-

(7,632

)

(1,692

)

(9,324

)

At 30 September 2019

27,664

14,906

27,071

20,585

90,226

NET BOOK VALUE

At 30 September 2019

6,916

-

8,015

10,723

25,654

At 30 September 2018

8,645

-

6,157

11,460

26,262

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

7,097

15,044

Other debtors

83

599

Prepayments and accrued income

33,280

26,794

40,460

42,437

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

27,931

29,677

Taxation and social security

9,995

7,698

Other creditors

154,563

129,650

192,489

167,025

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2019

2018

£

£

Within one year

16,000

2,500

Between one and five years

77,425

-

In more than five years

29,925

-

123,350

2,500

8.

RESERVES

Total reserves consist of the following:

2019

2018

£

£

Fixed assets reserve

25,654

26,262

Designated funds reserve

141,885

144,885

Profit and loss reserve

442,324

319,551

609,863

490,698

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Andrew Botham (Senior Statutory Auditor)

for and on behalf of Botham Accounting Limited

10.	ULTIMATE CONTROLLING PARTY

The company is controlled by the members.