ACCOUNTS - Final Accounts

THE SOCIETY OF FOOD HYGIENE AND TECHNOLOGY - Company Information

Caseware UK (AP4) 2016.0.208 2016.0.208 2018-03-312018-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetruefalse2017-04-01 03217110 2017-04-01 2018-03-31 03217110 2016-04-01 2017-03-31 03217110 2018-03-31 03217110 2017-03-31 03217110 c:Director16 2017-04-01 2018-03-31 03217110 d:FurnitureFittings 2017-04-01 2018-03-31 03217110 d:FurnitureFittings 2018-03-31 03217110 d:FurnitureFittings 2017-03-31 03217110 d:FurnitureFittings d:OwnedOrFreeholdAssets 2017-04-01 2018-03-31 03217110 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2017-04-01 2018-03-31 03217110 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2018-03-31 03217110 d:CurrentFinancialInstruments 2018-03-31 03217110 d:CurrentFinancialInstruments 2017-03-31 03217110 d:CurrentFinancialInstruments d:WithinOneYear 2018-03-31 03217110 d:CurrentFinancialInstruments d:WithinOneYear 2017-03-31 03217110 d:RetainedEarningsAccumulatedLosses 2018-03-31 03217110 d:RetainedEarningsAccumulatedLosses 2017-03-31 03217110 c:FRS102 2017-04-01 2018-03-31 03217110 c:AuditExempt-NoAccountantsReport 2017-04-01 2018-03-31 03217110 c:FullAccounts 2017-04-01 2018-03-31 03217110 c:PrivateLimitedCompanyLtd 2017-04-01 2018-03-31 iso4217:GBP xbrli:pure

03217110

THE SOCIETY OF FOOD HYGIENE AND TECHNOLOGY

(A company limited by guarantee)

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018


THE SOCIETY OF FOOD HYGIENE AND TECHNOLOGY (A company limited by guarantee)

CONTENTS

	Page
Balance sheet	1
Notes to the financial statements	2 - 5


THE SOCIETY OF FOOD HYGIENE AND TECHNOLOGY (A company limited by guarantee) REGISTERED NUMBER:03217110

BALANCE SHEET

AS AT 31 MARCH 2018

		2018		2017
Note		£		£

Fixed assets
Intangible assets	4		9,860		-
Tangible assets	5		3,308		4,135
			13,168		4,135
Current assets
Debtors: amounts falling due within one year	6	36,025		23,753
Cash at bank and in hand		137,667		133,274
		173,692		157,027
Creditors: amounts falling due within one year	7	(103,451)		(92,555)
Net current assets			70,241		64,472

Net assets			83,409		68,607

Capital and reserves
Profit and loss account	83,409	68,607

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 20 June 2018.

Mr M McCorkell (Hon Treasurer)

Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1


THE SOCIETY OF FOOD HYGIENE AND TECHNOLOGY (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

1.	General information

The Society of Food Hygiene and Technology is a private company limited by guarantee incorporated in England. The address of the registered office and principal place of business is The Granary, Middleton House Farm, Tamworth Road, Middleton, near Tamworth, Staffordshire, B78 2BD.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The financial statements are presented in Sterling (£).

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 2


THE SOCIETY OF FOOD HYGIENE AND TECHNOLOGY (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

2.Accounting policies (continued)

2.4

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Furniture and equipment

20% reducing balance basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the income and expenditure account..

2.5

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

2.7

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.8

Taxation

Tax is recognised in the income and expenditure account, except that a charge 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Employees

The average monthly number of employees, including directors, during the year was 3 (2017 - 3).

Page 3


THE SOCIETY OF FOOD HYGIENE AND TECHNOLOGY (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

4.	Intangible assets

		Database
		£
	Cost
	Additions	9,860
	At 31 March 2018	9,860

	Net book value
	At 31 March 2018	9,860
	At 31 March 2017	-

5.	Tangible fixed assets

		Furniture and equipment
		£
	Cost
	At 1 April 2017	12,670
	At 31 March 2018	12,670
	Depreciation
	At 1 April 2017	8,535
	Charge for the year on owned assets	827
	At 31 March 2018	9,362
	Net book value
	At 31 March 2018	3,308
	At 31 March 2017	4,135

Page 4


THE SOCIETY OF FOOD HYGIENE AND TECHNOLOGY (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

Debtors

					2018	2017
					£	£


Membership fees	10,160	8,059
Training	1,204	5,110
Events	3,046	-
Training academy	7,525	2,861
Breakfast club	936	564
Sundry income	927	-
Prepayments and accrued income	12,227	7,159
	36,025	23,753

7.	Creditors: Amounts falling due within one year
		2018	2017
		£	£

Trade creditors	16,450	14,403
Corporation tax	-	16
Other taxation and social security	6,847	6,982
Other creditors	116	65
Accruals and deferred income	80,038	71,089
	103,451	92,555


8.	Company status

The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

Page 5