REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31st December 2022 |
for |
The Central Association of Agricultural |
Valuers |
REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31st December 2022 |
for |
The Central Association of Agricultural |
Valuers |
The Central Association of Agricultural |
Valuers (Registered number: 00398155) |
Contents of the Financial Statements |
for the Year Ended 31st December 2022 |
Page |
Company Information | 1 |
Balance Sheet | 3 |
Notes to the Financial Statements | 5 |
The Central Association of Agricultural |
Valuers |
Company Information |
for the Year Ended 31st December 2022 |
DIRECTORS: |
A J Rimmer |
E D Rout |
H A Seton Brewer |
M E Sibley |
Dr M A Simcock |
R J Stagg |
T A Starkey |
D K Steel |
The Central Association of Agricultural |
Valuers |
Company Information |
for the Year Ended 31st December 2022 |
H Story |
M J Stuart |
M R Swann |
M M V Taylor |
A R Thomas |
I S Thornton-Kemsley |
S M Walker |
J C Watson |
S J Wearmouth |
H R Williams |
S M S Williams |
J J Young |
G J Gibson |
I M Nott |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
38 Dollar Street |
Cirencester |
Gloucestershire |
GL7 2AN |
BANKERS: |
19 Eastgate Street |
Gloucester |
Gloucestershire |
GL1 1NU |
The Central Association of Agricultural |
Valuers (Registered number: 00398155) |
Balance Sheet |
31st December 2022 |
2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Investments | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
RESERVES |
Income and expenditure account |
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 Central Association of Agricultural |
Valuers (Registered number: 00398155) |
Balance Sheet - continued |
31st December 2022 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
The Central Association of Agricultural |
Valuers (Registered number: 00398155) |
Notes to the Financial Statements |
for the Year Ended 31st December 2022 |
1. | STATUTORY INFORMATION |
Central Association of Agricultural Valuers is a private company, limited by guarantee, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Included within turnover is subscription income. Subscription income is the total amount receivable for membership subscriptions relating to the financial year. For the purposes of VAT, this is deemed to be split in the following proportions: 60% zero-rated, 20% standard rated and 20% exempt. Certain other receipts comprise supplies for VAT purposes which may be exempt, zero-rated, standard-rated or outside the scope of VAT. Consequently the company is treated as partially exempt for VAT purposes and not all input VAT is reclaimable. Irrecoverable VAT is treated as an expense. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off the cost, where this is material, less estimated residual value of each asset over its estimated useful life. |
Display stands | - 33% on cost |
Fixtures and fittings | - 20% on cost |
Website development costs | - 33% on cost |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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. |
Taxation |
Corporation tax is only chargeable on investment income and gains. Deferred taxation is provided on potential capital gains on revaluations of investments. Provision has been made in these accounts for both actual and potential liabilities. |
Fixed asset investments |
Fixed asset investments are stated at their market value at the year end. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2021 - NIL). |
The Central Association of Agricultural |
Valuers (Registered number: 00398155) |
Notes to the Financial Statements - continued |
for the Year Ended 31st December 2022 |
4. | TANGIBLE FIXED ASSETS |
Fixtures | Website |
Display | and | development |
stands | fittings | costs | Totals |
£ | £ | £ | £ |
COST |
At 1st January 2022 |
and 31st December 2022 |
DEPRECIATION |
At 1st January 2022 |
Charge for year |
At 31st December 2022 |
NET BOOK VALUE |
At 31st December 2022 |
At 31st December 2021 |
5. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST OR VALUATION |
At 1st January 2022 |
Additions |
Disposals | ( |
) |
Revaluations | ( |
) |
At 31st December 2022 |
NET BOOK VALUE |
At 31st December 2022 |
At 31st December 2021 |
The Central Association of Agricultural |
Valuers (Registered number: 00398155) |
Notes to the Financial Statements - continued |
for the Year Ended 31st December 2022 |
5. | FIXED ASSET INVESTMENTS - continued |
Cost or valuation at 31st December 2022 is represented by: |
Other |
investments |
£ |
Valuation in 2016 | 14,957 |
Valuation in 2017 | 23,827 |
Valuation in 2018 | (15,925 | ) |
Valuation in 2019 | 35,586 |
Valuation in 2020 | 4,398 |
Valuation in 2021 | 26,256 |
Valuation in 2022 | (71,863 | ) |
Cost | 502,143 |
519,379 |
If fixed asset investments had not been revalued they would have been included at the following historical cost: |
2022 | 2021 |
£ | £ |
Cost | 502,143 | 352,744 |
Fixed assets investments were valued on an open market basis on 31st December 2022 by Rathbone Investment Management . |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
Other debtors |
Prepayments and accrued income |
7. | CURRENT ASSET INVESTMENTS |
2022 | 2021 |
£ | £ |
Cash at brokers |
The Central Association of Agricultural |
Valuers (Registered number: 00398155) |
Notes to the Financial Statements - continued |
for the Year Ended 31st December 2022 |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade creditors |
Corporation tax |
Accruals and deferred income |
9. | CONTINGENT LIABILITIES |
The company had no contingent liabilities at 31st December 2022 or 31st December 2021. |
10. | CAPITAL COMMITMENTS |
There was no capital expenditure in 2022 and no further capital commitments incurred in the year. |
11. | RELATED PARTY DISCLOSURES |
During the year J P Moody, company secretary, provided secretarial and advisory services to the company as follows; |
2022 | 2021 |
Secretariat fees | 471,156 | 409,753 |
Management of website | 60,000 | 60,000 |
Travelling expenses | 14,104 | 6,009 |
Postage and telephone | 0 | 163 |
Printing and stationery | 0 | 0 |
Publications | 928 | 2,776 |
TEGoVA | 4,327 | 0 |
Internet and website | 0 | 0 |
Meetings and sundry | 898 | 1,042 |
There was a balance owed to J P Moody at the balance sheet date of £9,403 (2021 owed to JM : £16,511). In addition there was a debtor balance owed from J P Moody in respect of services provided at the balance sheet date of £486 (2021: £43,439). |
12. | ULTIMATE CONTROLLING PARTY |
The company is not controlled by a particular individual. |
13. | TAX ON SURPLUS |
The tax on surplus comprises: |
Corporation tax | 285 |
Increase/(Reduction) in deferred tax | (12,635 | ) |
Total tax on surplus | £(12,350 | ) |