Company registration number:
00880556
The Polymer Machinery Manufacturers and Distributors
Association Limited
Company limited by guarantee
Financial statements
30 September 2022
The Polymer Machinery Manufacturers and Distributors
Association Limited
Company limited by guarantee
Contents
Statement of financial position
Statement of changes in equity
Notes to the financial statements
The Polymer Machinery Manufacturers and Distributors
Association Limited
Company limited by guarantee
Statement of financial position
30th September 2022
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2022
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2021
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Note
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£
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£
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£
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£
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Current assets
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Debtors
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5
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200
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995
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Cash at bank and in hand
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51,216
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49,401
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_______
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_______
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51,416
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50,396
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Creditors: amounts falling due
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within one year
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6
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(
5,631)
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(
6,131)
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_______
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_______
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Net current assets
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45,785
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44,265
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_______
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_______
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Total assets less current liabilities
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45,785
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44,265
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_______
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_______
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Net assets
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45,785
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44,265
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_______
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_______
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Capital and reserves
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Profit and loss account
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45,785
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44,265
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_______
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_______
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Members funds
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45,785
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44,265
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_______
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_______
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For the year ending 30 September 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
02 November 2022
, and are signed on behalf of the board by:
R. Hird
Director
Company registration number:
00880556
The Polymer Machinery Manufacturers and Distributors
Association Limited
Company limited by guarantee
Statement of changes in equity
Year ended 30th September 2022
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Profit and loss account
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Total
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£
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£
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At 1st October 2020
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37,148
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37,148
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Profit for the year
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7,117
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7,117
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_______
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_______
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Total comprehensive income for the year
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7,117
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7,117
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_______
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_______
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At 30th September 2021 and 1st October 2021
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44,265
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44,265
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Profit for the year
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1,520
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1,520
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_______
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_______
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Total comprehensive income for the year
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1,520
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1,520
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_______
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_______
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At 30th September 2022
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45,785
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45,785
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_______
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_______
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The Polymer Machinery Manufacturers and Distributors
Association Limited
Company limited by guarantee
Notes to the financial statements
Year ended 30th September 2022
1.
General information
The company is a private company limited by guarantee, registered in England. The address of the registered office is 6 The Terrace, Rugby Road, Lutterworth, Leicestershire, LE17 4BW.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for membership fees and event income.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4.
Limited by guarantee
The maximum number of members permitted by the Articles of Association is 100. In the event of winding up, each member is liable to contribute a sum not exceeding the current annual membership fee, if required, to the assets of the Association.
5.
Debtors
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2022
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2021
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£
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£
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Trade debtors
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200
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995
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_______
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_______
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6.
Creditors: amounts falling due within one year
|
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2022
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2021
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£
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£
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Other creditors
|
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5,631
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6,131
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_______
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_______
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