Registration number:
Association of British Healthtech Industries Limited
(A company limited by guarantee)
for the Year Ended 31 December 2022
Association of British Healthtech Industries Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Association of British Healthtech Industries Limited
Company Information
Directors |
Sandra Lawrence Andrew Robert Davies Michael John Fairbourn Nishanthan Sunthareswaran James Robert Urie Neil Anthony Mesher Philip Andrew Kennedy Antony David Bellis Peter Ellingworth Neil Harris Andrew Neil Goldney Christopher James Hudson Simon Tarry Peter Worrallo Hugo Breda Adam Mark Hill Stephanie Bolton Richard Devereaux Phillips |
Company secretary |
Sarah Jane Lewis |
Registered office |
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Auditors |
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Association of British Healthtech Industries Limited
(Registration number: 01469941)
Balance Sheet as at 31 December 2022
Note |
2022 |
2021 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Profit and loss account |
653,684 |
364,331 |
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Shareholders' funds |
653,684 |
364,331 |
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.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Association of British Healthtech Industries Limited
Notes to the Financial Statements for the Year Ended 31 December 2022
General information |
The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £25 towards the assets of the company in the event of liquidation.
The address of its registered office is:
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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
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.
Going concern
The Covid-19 pandemic has created significant operational and financial pressures on the Company. However, having considered the contingency plans in place, the support to businesses announced by the UK Government and having reviewed updated cashflow forecasts, the directors consider the adoption of the going concern basis in preparing these financial statements is appropriate.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the running of exhibitions/events and the selling of membership subscriptions in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Association of British Healthtech Industries Limited
Notes to the Financial Statements for the Year Ended 31 December 2022
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Fixtures and fittings |
Straight line over 3 years |
Short-term leasehold property |
Straight line over the life of the lease |
Amortisation
Asset class |
Amortisation method and rate |
Salesforce |
Straight line over 3 years |
Virtual Pavillion |
Straight line over 12 months |
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.
Association of British Healthtech Industries Limited
Notes to the Financial Statements for the Year Ended 31 December 2022
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.
Provisions
Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
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.
Financial instruments
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Association of British Healthtech Industries Limited
Notes to the Financial Statements for the Year Ended 31 December 2022
Tangible assets |
Land and buildings |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 January 2022 |
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Additions |
- |
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Disposals |
( |
( |
( |
At 31 December 2022 |
- |
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Depreciation |
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At 1 January 2022 |
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Charge for the year |
- |
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Eliminated on disposal |
( |
( |
( |
At 31 December 2022 |
- |
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Carrying amount |
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At 31 December 2022 |
- |
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At 31 December 2021 |
- |
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Debtors |
Current |
2022 |
2021 |
Trade debtors |
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Prepayments |
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Other debtors |
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Association of British Healthtech Industries Limited
Notes to the Financial Statements for the Year Ended 31 December 2022
Creditors |
Creditors: amounts falling due within one year
2022 |
2021 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
The total amount of financial commitments not included in the balance sheet is £
Audit information |
Audit report