BARNSTAPLE & DISTRICT CHAMBER OF COMMERCE LIMITED
BARNSTAPLE & DISTRICT CHAMBER OF COMMERCE LIMITED
BARNSTAPLE & DISTRICT CHAMBER OF COMMERCE LIMITED
Company limited by guarantee
Company Registration Number:
06801079 (England and Wales)
Unaudited statutory accounts for the year ended 31 March 2020
Period of accounts
Start date: 1 April 2019
End date: 31 March 2020
BARNSTAPLE & DISTRICT CHAMBER OF COMMERCE LIMITED
Contents of the Financial Statements
for the Period Ended 31 March 2020
Balance sheet | |
Additional notes | |
Balance sheet notes |
BARNSTAPLE & DISTRICT CHAMBER OF COMMERCE LIMITED
Balance sheet
As at
Notes | 2020 | 2019 | |
---|---|---|---|
| £ | £ | |
Current assets | |||
Debtors: | 3 | | |
Cash at bank and in hand: | | | |
Total current assets: | | | |
Creditors: amounts falling due within one year: | 4 | ( | ( |
Net current assets (liabilities): | | | |
Total assets less current liabilities: | | | |
Total net assets (liabilities): | | | |
Members' funds | |||
Profit and loss account: | | | |
Total members' funds: | | |
The notes form part of these financial statements
BARNSTAPLE & DISTRICT CHAMBER OF COMMERCE LIMITED
Balance sheet statements
The directors have chosen not to file a copy of the company's profit and loss account.
This report was approved by the board of directors on
and signed on behalf of the board by:
Name:
Status: Director
The notes form part of these financial statements
BARNSTAPLE & DISTRICT CHAMBER OF COMMERCE LIMITED
Notes to the Financial Statements
for the Period Ended 31 March 2020
-
1. Accounting policies
Basis of measurement and preparation
These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102 Turnover policy
Turnover is measured at the fair value of the consideration received or receivable for goods suppliedand services rendered, net of discounts and Value Added Tax.Revenue from the sale of goods is recognised when the significant risks and rewards of ownership havetransferred to the buyer, usually on despatch of the goods; the amount of revenue can be measuredreliably; it is probable that the associated economic benefits will flow to the entity and the costs incurredor to be incurred in respect of the transactions can be measured reliably. Other accounting policies
Basis of preparationThe financial statements have been prepared on the historical cost basis, as modified by the revaluationof certain financial assets and liabilities and investment properties measured at fair value through profitor loss.The financial statements are prepared in sterling, which is the functional currency of the entity.Judgements and key sources of estimation uncertaintyThe preparation of the financial statements requires management to make judgements, estimates andassumptions that affect the amounts reported. These estimates and judgements are continuallyreviewed and are based on experience and other factors, including expectations of future events thatare believed to be reasonable under the circumstances.Accounting estimates and assumptions are made concerning the future and, by their nature, will rarelyequal the related actual outcome.TaxationThe taxation expense represents the aggregate amount of current and deferred tax recognised in thereporting period. Tax is recognised in the statement of comprehensive income, except to the extent thatit relates to items recognised in other comprehensive income or directly in capital and reserves. In thiscase, tax is recognised in other comprehensive income or directly in capital and reserves, respectively.Current tax is recognised on taxable profit for the current and past periods. Current tax is measured atthe amounts of tax expected to pay or recover using the tax rates and laws that have been enacted orsubstantively enacted at the reporting date.Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved taxlosses and other deferred tax assets are recognised to the extent that it is probable that they will berecovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax ismeasured using the tax rates and laws that have been enacted or substantively enacted by thereporting date that are expected to apply to the reversal of the timing difference.Cash and cash equivalentsCash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and othershort-term highly liquid investments with original maturities of three months or less and bank overdrafts.In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities.Financial instrumentsA financial asset or a financial liability is recognised only when the company becomes a party to thecontractual provisions of the instrument.Basic financial instruments are initially recognised at the transaction price, unless the arrangementconstitutes a financing transaction, where it is recognised at the present value of the future paymentsdiscounted at a market rate of interest for a similar debt instrument.
BARNSTAPLE & DISTRICT CHAMBER OF COMMERCE LIMITED
Notes to the Financial Statements
for the Period Ended 31 March 2020
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2. Employees
2020 2019 Average number of employees during the period 0 0
BARNSTAPLE & DISTRICT CHAMBER OF COMMERCE LIMITED
Notes to the Financial Statements
for the Period Ended 31 March 2020
3. Debtors
2020 | 2019 | |
---|---|---|
£ | £ | |
Other debtors | | |
Total | | |
BARNSTAPLE & DISTRICT CHAMBER OF COMMERCE LIMITED
Notes to the Financial Statements
for the Period Ended 31 March 2020
4. Creditors: amounts falling due within one year note
2020 | 2019 | |
---|---|---|
£ | £ | |
Other creditors | | |
Total | | |