Company Registration No. 04509423 (England and Wales)
DARTS REGULATION AUTHORITY
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2019
PAGES FOR FILING WITH REGISTRAR
DARTS REGULATION AUTHORITY
BALANCE SHEET
AS AT
30 NOVEMBER 2019
30 November 2019
- 1 -
2019
2018
Notes
£
£
£
£
Current assets
Debtors
60,354
24,885
Cash at bank and in hand
39,710
37,620
100,064
62,505
Creditors: amounts falling due within one year
(7,409)
(8,296)
Net current assets
92,655
54,209
Reserves
Income and expenditure account
92,655
54,209
The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.
true
For the financial year ended 30 November 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 27 November 2020 and are signed on its behalf by:
Mr N Mawer
Director
Company Registration No. 04509423
DARTS REGULATION AUTHORITY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2019
- 2 -
1
Accounting policies
Company information
Darts Regulation Authority is a
private
company
limited by guarantee
incorporated in England and Wales.
The registered office is
Moore & Tibbits, 34 High Street, Warwick, Warwickshire, CV34 4BE.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Income and expenditure
Income and expenses are included in the financial statements as they become receivable or due.
1.3
Cash and cash equivalents
Cash and cash equivalents
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.4
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
1.5
Taxation
The company is exempt from corporation tax, it being a company not carrying on a business for the purposes of making a profit.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 0 (2018 - 0
).
DARTS REGULATION AUTHORITY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2019
- 3 -
3
Debtors
2019
2018
Amounts falling due within one year:
£
£
Service charges due
-
528
Other debtors
60,354
24,357
60,354
24,885
4
Creditors: amounts falling due within one year
2019
2018
£
£
Trade creditors
-
488
Taxation and social security
5,653
6,558
Other creditors
1,756
1,250
7,409
8,296
5
Members' liability
The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.