Registration number:
Comite International Des Telecommunications de Presse
(A company limited by guarantee)
for the Year Ended 31 December 2020
Comite International Des Telecommunications de Presse
Contents
Company Information |
|
Directors' Report |
|
Balance Sheet |
|
Notes to the Unaudited Financial Statements |
Comite International Des Telecommunications de Presse
Company Information
Directors |
Mr B P Quinn J Parrucci R C Schmidt-Nia P Harman J L Lindgren G Innerwinkler G Wu D Compton |
Company secretary |
Mr B P Quinn |
Registered office |
|
Comite International Des Telecommunications de Presse
Directors' Report for the Year Ended 31 December 2020
The directors present their report and the financial statements for the year ended 31 December 2020.
Directors of the company
The directors who held office during the year were as follows:
Principal activity
The principal activity of the company is defining, developing, maintaining and promoting technical standards for news exchange formats and vocabularies
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved by the
.........................................
Company secretary and director
Comite International Des Telecommunications de Presse
(Registration number: 01010968)
Balance Sheet as at 31 December 2020
Note |
31 December |
31 December |
|
Fixed assets |
|||
Intangible assets |
|
|
|
Current assets |
|||
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current assets |
|
|
|
Net assets |
|
|
|
Capital and reserves |
|||
Profit and loss account |
402,726 |
367,164 |
|
Total equity |
402,726 |
367,164 |
For the financial year ending 31 December 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
|
• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the
.........................................
Company secretary and director
Comite International Des Telecommunications de Presse
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2020
General information |
The company is a company limited by guarantee, incorporated in England, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding €Nil towards the assets of the company in the event of liquidation.
The address of its registered office is:
England
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The presentational currency is Euro's, rounded to the nearest whole number.
Revenue recognition
Subscription revenue comprises amounts invoiced to nominating organisations and scientific and industrial organisations.
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Comite International Des Telecommunications de Presse
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2020
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Intellectual property |
33% on cost reducing balance |
Development costs |
50% on cost reducing balance |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Staff numbers |
The average number of persons employed by the company during the year, was
Comite International Des Telecommunications de Presse
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2020
Intangible assets |
Internally generated software development costs |
Other intangible assets |
Total |
|
Cost or valuation |
|||
At 1 January 2020 |
|
|
|
At 31 December 2020 |
|
|
|
Amortisation |
|||
At 1 January 2020 |
|
|
|
At 31 December 2020 |
|
|
|
Carrying amount |
|||
At 31 December 2020 |
|
|
|
At 31 December 2019 |
- |
|
|
Debtors |
31 December |
31 December |
|
Trade debtors |
|
|
Other debtors |
- |
|
|
|
Comite International Des Telecommunications de Presse
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2020
Creditors |
Creditors: amounts falling due within one year
31 December |
31 December |
|
Due within one year |
||
Trade creditors |
- |
|
Taxation and social security |
|
|
Accruals and deferred income |
|
- |
Other creditors |
|
|
|
|