AIPPI United Kingdom - Limited company accounts 20.1

REGISTERED NUMBER: 00223374 (England and Wales)

Report of the Directors and

Unaudited Financial Statements for the Year Ended 31 December 2021

for

AIPPI United Kingdom

Page

Company Information

1

Report of the Directors

3

Income and Expenditure Account

5

Balance Sheet

6

Notes to the Financial Statements

8

DIRECTORS:

T M Cook

C Morcom QC

K J Tomlinson

J Watts

A Roughton

S F Jones

P Harris

J Mutimear

J M O Brunner

J M Vleck

P Finnie

M D Pratt

R Vary

S Ashby

D Brook

C Smyth

N Cunningham

J Moss

D E Adair

A Ward

A Artinian

M Ridgway

Dr J Short

I M Ireland

C Blythe

Dr E S O'Neill

T J Walklett

T J A Bond

SECRETARY:

D E Adair

REGISTERED OFFICE:

Studio 16, Cloisters House

8 Battersea Park Road

London

SW8 4BG

REGISTERED NUMBER:

00223374 (England and Wales)

ACCOUNTANTS:

Sawin & Edwards LLP Chartered Accountants

Studio 16

Cloisters House

8 Battersea Park Road

London

SW8 4BG

The directors present their report with the financial statements of the company for the year ended 31 December 2021.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2021 to the date of this report.

T M Cook

C Morcom QC

K J Tomlinson

J Watts

A Roughton

S F Jones

P Harris

J Mutimear

J M O Brunner

J M Vleck

P Finnie

M D Pratt

R Vary

S Ashby

D Brook

C Smyth

N Cunningham

J Moss

D E Adair

A Ward

A Artinian

M Ridgway

Dr J Short

I M Ireland

C Blythe

Dr E S O'Neill

T J Walklett

Other changes in directors holding office are as follows:

I Karet - resigned 1 March 2021

N Dagg - resigned 22 September 2021

S Baldock - resigned 31 December 2021

T J A Bond - appointed 22 September 2021

J Tumbridge ceased to be a director after 31 December 2021 but prior to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

Dr J Short - Director

21 September 2022

INCOME

3

56,161

93,260

Administrative expenses

(58,028

)

(63,691

)

(1,867

)

29,569

Unrealised (loss)/gain on

investments

(2,364

)

2,250

OPERATING (DEFICIT)/SURPLUS

(4,231

)

31,819

Income from fixed asset investments

292

784

Interest receivable and similar income

3

16

(DEFICIT)/SURPLUS BEFORE TAXATION

(3,936

)

32,619

Tax on (deficit)/surplus

5

449

(427

)

(DEFICIT)/SURPLUS FOR THE FINANCIAL YEAR

(3,487

)

32,192

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

(3,487

)

32,192

FIXED ASSETS

Investments

6

38,891

41,255

CURRENT ASSETS

Debtors

7

1,040

667

Short term deposits

8

46,977

47,076

Cash at bank

52,968

44,822

100,985

92,565

CREDITORS

Amounts falling due within one year

9

(13,355

)

(3,362

)

NET CURRENT ASSETS

87,630

89,203

TOTAL ASSETS LESS CURRENT LIABILITIES

126,521

130,458

PROVISIONS FOR LIABILITIES

(3,596

)

(4,046

)

NET ASSETS

122,925

126,412

RESERVES

Income and expenditure account

122,925

126,412

122,925

126,412

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

The financial statements were approved by the Board of Directors and authorised for issue on 21 September 2022 and were signed on its behalf by:

S Ashby - Director

1.	STATUTORY INFORMATION

AIPPI United Kingdom 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.

The presentation currency of the financial statements is the Pound Sterling (£).

The financial statements present information about the company as a single entity.

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.

Income

Income represents services supplied during the accounting period, subscriptions, income from investments and interest received.

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as listed investments, debtors and creditors. Financial assets and liabilities are recognised when the company becomes a party to the contractual provisions of the instruments.

Fixed Asset - Investments

Listed investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value, as at the balance sheet date, using the closing quoted market price. Unrealised gains and losses are calculated as the difference between the fair value at the year end and the carrying value.

Debtors and creditors

Basic financial assets and liabilities, including debtors and creditors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets and liabilities are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents

Cash and cash equivalents are represented by cash at bank and in hand.

Taxation

The tax expense for the year comprises current tax. Tax is recognised in the income and expenditure account, except that a change attributable to an item of income and expense recognised as other comprehensive income, or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity, respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

- the recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

- any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

3.

INCOME

2021

2020

£

£

Subscriptions

52,975

52,300

Lecture income

3,186

2,134

Profit on 2019 World Congress

-

38,826

56,161

93,260

Number of

Number of

members

members

Individuals

450

483

Corporate members

11

9

461

492

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

5.

TAXATION

Analysis of the tax (credit)/charge

The tax (credit)/charge on the deficit for the year was as follows:

2021

2020

£

£

Current tax:

Deferred tax

(449

)

427

Tax on (deficit)/surplus

(449

)

427

6.	FIXED ASSET INVESTMENTS

UK QUOTED INVESTMENTS

2021

2020

£

£

Market Value at 1 January 2021

41,255

86,432

Unrealised (loss)/gain

(2,364

)

2,250

Disposal at market value

-

(47,427

)

Market Value at 31 December 2021

38,891

41,255

Historic cost as at 31 December 2021

28,190

28,190

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Other debtors

489

489

Prepayments and accrued income

551

178

1,040

667

8.	CURRENT ASSET INVESTMENTS

2021

2020

£

£

Short term deposits

46,977

47,076

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Other creditors

13,355

3,362

10.	RELATED PARTY DISCLOSURES

During the year, two (2020: one) directors were reimbursed £1,278 (2020: £1,576) for expenses paid relating to meeting expenses, prizes and website costs.