REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 |
FOR |
THE INTERNATIONAL BUNKER INDUSTRY |
ASSOCIATION LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 |
FOR |
THE INTERNATIONAL BUNKER INDUSTRY |
ASSOCIATION LIMITED |
THE INTERNATIONAL BUNKER INDUSTRY |
ASSOCIATION LIMITED (REGISTERED NUMBER: 02784961) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
Page |
Company information | 1 |
Statement of financial position | 2 |
Notes to the financial statements | 4 |
Chartered accountants' report | 7 |
THE INTERNATIONAL BUNKER INDUSTRY |
ASSOCIATION LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Suite LU.231 |
The Light Bulb |
1 Filament Walk |
Wandsworth |
London |
SW18 4GQ |
THE INTERNATIONAL BUNKER INDUSTRY |
ASSOCIATION LIMITED (REGISTERED NUMBER: 02784961) |
STATEMENT OF FINANCIAL POSITION |
31 MARCH 2023 |
31.3.23 | 31.3.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET ASSETS |
RESERVES |
Income and expenditure account | 8 |
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 INTERNATIONAL BUNKER INDUSTRY |
ASSOCIATION LIMITED (REGISTERED NUMBER: 02784961) |
STATEMENT OF FINANCIAL POSITION - continued |
31 MARCH 2023 |
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 INTERNATIONAL BUNKER INDUSTRY |
ASSOCIATION LIMITED (REGISTERED NUMBER: 02784961) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
1. | STATUTORY INFORMATION |
The International Bunker Industry Association Limited is a |
2. | ACCOUNTING POLICIES |
BASIS OF PREPARING THE FINANCIAL STATEMENTS |
INCOME |
Income is recognised net of VAT from membership subscriptions on the date the renewal is due and from conferences and other activities when the event takes place. |
TANGIBLE FIXED ASSETS |
Fixtures, fittings & office equipment | 25% - 33% on cost |
FOREIGN CURRENCIES |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position 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. |
PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
THE INTERNATIONAL BUNKER INDUSTRY |
ASSOCIATION LIMITED (REGISTERED NUMBER: 02784961) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
£ |
COST |
At 1 April 2022 |
Additions |
Disposals | ( |
) |
At 31 March 2023 |
DEPRECIATION |
At 1 April 2022 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.23 | 31.3.22 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
VAT |
Prepayments |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.23 | 31.3.22 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Tax |
Social security and other taxes |
Other creditors |
Accruals and deferred income |
THE INTERNATIONAL BUNKER INDUSTRY |
ASSOCIATION LIMITED (REGISTERED NUMBER: 02784961) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.3.23 | 31.3.22 |
£ | £ |
Bank loans - 1-2 years |
Bank loans - 2-5 years |
8. | RESERVES |
Income |
and |
expenditure |
account |
£ |
At 1 April 2022 |
Surplus for the year |
At 31 March 2023 |
9. | RELATED PARTY DISCLOSURES |
The company is the owner of International Bunker Industry Association (Asia) Limited ("IBIA (Asia) Ltd") which is registered in Singapore. IBIA (Asia) Ltd is a company limited by guarantee having no share capital. The company is liable for the debts of IBIA (Asia) Ltd in the event of it being wound up during its time as owner or within one year of ceasing to be its owner up to a maximum of 1 Singapore dollar. |
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
THE INTERNATIONAL BUNKER INDUSTRY |
ASSOCIATION LIMITED |
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of financial position. Readers are cautioned that the Income statement and certain other primary statements and the Report of the directors are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The International Bunker Industry Association Limited for the year ended 31 March 2023 which comprise the Income statement, Statement of financial position, Statement of changes in equity and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the Board of Directors of The International Bunker Industry Association Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of The International Bunker Industry Association Limited and state those matters that we have agreed to state to the Board of Directors of The International Bunker Industry Association Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The International Bunker Industry Association Limited and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that The International Bunker Industry Association Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of The International Bunker Industry Association Limited. You consider that The International Bunker Industry Association Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of The International Bunker Industry Association Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Suite LU.231 |
The Light Bulb |
1 Filament Walk |
Wandsworth |
London |
SW18 4GQ |