British & Irish Association of Fastener Distributors Limited Filleted accounts for Companies House (small and micro)
British & Irish Association of Fastener Distributors Limited Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
06789790
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Company Limited by Guarantee |
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Company Limited by Guarantee |
Statement of Financial Position |
2021 |
2020 |
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Note |
£ |
£ |
£ |
Fixed assets
Tangible assets |
5 |
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Current assets
Debtors |
6 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
7 |
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Net current assets |
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Total assets less current liabilities |
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Net assets |
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Capital and reserves
Other reserves |
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Profit and loss account |
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Members funds |
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In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
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Company Limited by Guarantee |
Statement of Financial Position (continued) |
Directors' responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
29 July 2021
, and are signed on behalf of the board by:
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Director |
Company registration number:
06789790
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Company Limited by Guarantee |
Notes to the Financial Statements |
Year ended 30 June 2021
1.
General information
The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is 6 Alfred Street, Rushden, Northants, NN10 9YS.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Judgements and key sources of estimation uncertainty
Revenue recognition
Income tax
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Office equipment |
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Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4.
Company limited by guarantee
The company is limited by guarantee and therefore does not have a share capital. The liability of the members is limited on winding up of the company to a sum not exceeding £1 each.
5.
Tangible assets
Fixtures and fittings |
Total |
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£ |
£ |
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Cost |
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At 1 July 2020 and 30 June 2021 |
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Depreciation |
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At 1 July 2020 |
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Charge for the year |
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At 30 June 2021 |
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Carrying amount |
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At 30 June 2021 |
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At 30 June 2020 |
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6.
Debtors
2021 |
2020 |
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£ |
£ |
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Other debtors |
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7.
Creditors:
amounts falling due within one year
2021 |
2020 |
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£ |
£ |
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Corporation tax |
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Other creditors |
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