Scottish Hydrogen Fuel Cell Association - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: SC265209 (Scotland)

THE SCOTTISH HYDROGEN AND FUEL CELL

ASSOCIATION LIMITED

(A COMPANY LIMITED BY GUARANTEE)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Dr J F Bingham

R J Evans

B Farquhar

J F D Lidderdale

B Whiting

D Hogg

Mrs E Johnson

A McIntosh

REGISTERED OFFICE:

Energy Technology Centre

Rankine Avenue

Scottish Enterprise Technology Park

East Kilbride

Glasgow

G75 0QF

REGISTERED NUMBER:

SC265209 (Scotland)

ACCOUNTANTS:

Cook & Co Limited, Chartered Accountants

Suite 525

Baltic Chambers

50 Wellington Street

GLASGOW

G2 6HJ

CURRENT ASSETS

Debtors

6

12,936

2,499

Cash at bank

28,439

34,702

41,375

37,201

CREDITORS

Amounts falling due within one year

7

5,301

22,651

NET CURRENT ASSETS

36,074

14,550

TOTAL ASSETS LESS CURRENT LIABILITIES

36,074

14,550

RESERVES

Income and expenditure account

36,074

14,550

36,074

14,550

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 on 19 December 2017 and were signed on its behalf by:

Dr J F Bingham - Director

1.	STATUTORY INFORMATION

The Scottish Hydrogen and Fuel Cell Association Limited is a private company, limited by guarantee , registered

in Scotland. 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 (£).

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention.

SIGNIFICANT JUDGEMENTS AND ESTIMATES

The preparation of these financial statements requires management to make judgements, estimates and

assumptions that affect the application of policies and reported amounts of assets and liabilities, income and

expenses.

Judgements and estimates are continually evaluated and are based on historical experiences and other factors,

including expectations of future events that are believed to be reasonable under the circumstances.

TURNOVER

Turnover comprises members' subscriptions and project income invoiced during the period, excluding Value

Added Tax.

TANGIBLE FIXED ASSETS

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

Plant and machinery etc

-

33% on cost

FOREIGN CURRENCIES

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at

the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

GRANTS RECEIVABLE

Government grants received in respect of capital expenditure are credited to a deferred income account and are

released to profit over the expected useful lives of the relevant assets by equal annual instalments.

Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2016 - 1 ) .

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2016

and 31 March 2017

621

DEPRECIATION

At 1 April 2016

and 31 March 2017

621

NET BOOK VALUE

At 31 March 2017

-

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Other debtors

12,936

2,499

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Taxation and social security

1,134

3,517

Other creditors

4,167

19,134

5,301

22,651

8.	FIRST YEAR ADOPTION

This is the first set of financial statements prepared by The Scottish Hydrogen and Fuel Cell Association Limited

in accordance with the accounting standards issued by the Financial Reporting Council, including FRS 102 "The

Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102"). The company

transitioned from previously extant UK GAAP to FRS 102 as at 01 April 2015. There were no adjustments on

transition.