| The Medau Society Ltd |
| Accountants' Report |
|
|
| Accountants' report to the Board of Directors of |
| The Medau Society Ltd |
|
| We report on the accounts for the year ended 31 July 2022, as set out on pages 4 to 10. |
|
| You consider that the company is exempt from an audit for the year ended 31 July 2022. You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year. |
| In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us. |
|
| We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts. |
|
| Denby Morris Ltd |
| Accountants |
|
| 53 Forest Drive |
| Keston |
| Kent |
| BR2 6EE |
|
| 10 November 2022 |
|
| The Medau Society Ltd |
| Notes to the Accounts |
| for the year ended 31 July 2022 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
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. |
|
Funds |
|
Secord-Evans Fund. This was set up to provide training and assistance to teachers and trainers. |
|
|
General Fund. This was set up to provide a financial cushion should the Society cease operating. |
|
|
|
| 2 |
Employees |
2022 |
|
2021 |
| Number |
Number |
|
|
Average number of persons employed by the company |
- |
|
- |
|
|
|
|
|
|
|
|
|
|
| 3 |
Debtors |
2022 |
|
2021 |
| £ |
£ |
|
|
Trade debtors |
5 |
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 4 |
Creditors: amounts falling due within one year |
2022 |
|
2021 |
| £ |
£ |
|
|
Due to EMDUK |
4,400 |
|
4,400 |
|
Trade creditors |
- |
|
20 |
|
Deferred income re grants received |
4,108 |
|
4,814 |
|
Other creditors & accruals |
913 |
|
930 |
|
|
|
|
|
|
9,421 |
|
10,164 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Share Capital |
|
|
The company is limited by guarantee. Every member has undertaken to contribute (with a |
|
maximum liability of 10 pence) to any deficit in the net assets of the company on a winding up. |
|
|
| 6 |
Related party transactions |
|
|
EMDUK provided administrative services under licence to The Medau Society Ltd up to 31 March 2021. This involved collecting and banking membership and teachers' fees and paying certain expenses. The membership and teachers' fees were retained by EMDUK in order to cover their costs. An additional Licence fee was paid for EMDUK costs not wholly covered by the collected fees. |
|
|
From 1 April 2021 Medau pays a service charge to EMDUK for services actually received. |
|
The calculation changed from charges based as a percentage of certain costs to one based on |
|
actual costs incurred. |
|
|
Medau paid £7,675 (2021: £3,293) to EMDUK in respect of costs for the year to 31 March 2022. |
|
The amount due to EMDUK at the year end was estimated to be £4,400 (2021: £4,400). |
|
|
| 7 |
Controlling party |
|
|
The directors confirm that there is no ultimate controlling party. |
|
|
| 8 |
Other information |
|
|
The Medau Society Ltd is a private company limited by guarantee and incorporated in England. Its registered office is: |
|
10 Coldbath Square |
|
London |
|
EC1R 5HL |
