Registration number:
Turfgrass Growers Association Limited
(A company limited by guarantee)
for the Year Ended 31 October 2022
Turfgrass Growers Association Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Turfgrass Growers Association Limited
Company Information
Directors |
S Edwards I Pogson W Baird R Adcock T Jellicoe A Allan G Stothard R Owens (Chairman) D B Greenshields C R Spooner O A Wright |
Company secretary |
C Clark |
Registered office |
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Turfgrass Growers Association Limited
(Registration number: 02991118)
Balance Sheet as at 31 October 2022
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2021 |
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Fixed assets |
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Intangible assets |
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Other financial assets |
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1 |
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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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Net assets |
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Capital and reserves |
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Profit and loss account |
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Members' funds |
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For the financial year ending 31 October 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 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.
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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Turfgrass Growers Association Limited
Notes to the Financial Statements for the Year Ended 31 October 2022
General information |
The company is a company limited by guarantee incorporated in England and Wales and the company registration number is 02991118.
These financial statements cover the individual entity, Turfgrass Growers Association Limited
The address of its registered office is:
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 were prepared in accordance with Financial Reporting Standard 102 including Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
Basis of preparation
These financial statements have been prepared using the historical cost convention.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services 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.
Tax
The company trades as a mutual society and accordingly no corporation tax is chargeable on its excess of income over expenditure arising from its activities with members. Corporation tax chargeable on other income of the society at rates current during the period of the accounts.
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.
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 |
Website |
3 years straight line |
Turfgrass Growers Association Limited
Notes to the Financial Statements for the Year Ended 31 October 2022
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 services performed in the ordinary course of business.
Trade debtors are recognised at the transaction price, 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 at the transaction price.
Staff numbers |
The average number of persons employed by the Company (including Directors) during the year, was
Intangible assets |
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Total |
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Cost or valuation |
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At 1 November 2021 |
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At 31 October 2022 |
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Amortisation |
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At 1 November 2021 |
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Amortisation charge |
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At 31 October 2022 |
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Carrying amount |
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At 31 October 2022 |
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At 31 October 2021 |
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Turfgrass Growers Association Limited
Notes to the Financial Statements for the Year Ended 31 October 2022
Investments |
Other investments |
Total |
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Other investments |
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Cost or valuation |
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At 1 November 2021 |
1 |
1 |
At 31 October 2022 |
1 |
1 |
Carrying amount |
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At 31 October 2022 |
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1 |
Debtors |
Current |
2022 |
2021 |
Trade debtors |
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Prepayments |
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Other debtors |
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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 |
850 |
32,644 |
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