Association For Business Psychology Limited
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Registered number: |
04609682
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Balance Sheet |
as at 31 December 2020
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Notes |
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2020 |
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|
2019 |
£ |
£ |
Fixed assets |
Tangible assets |
3 |
|
|
4,938 |
|
|
6,460 |
|
Current assets |
Stocks |
|
|
1,672 |
|
|
1,672 |
Debtors |
4 |
|
18,457 |
|
|
22,984 |
Investments |
5 |
|
62,042 |
|
|
57,680 |
Cash at bank and in hand |
|
|
139,141 |
|
|
128,112 |
|
|
|
221,312 |
|
|
210,448 |
|
Creditors: amounts falling due within one year |
6 |
|
(20,304) |
|
|
(21,016) |
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Net current assets |
|
|
|
201,008 |
|
|
189,432 |
|
Total assets less current liabilities |
|
|
|
205,946 |
|
|
195,892 |
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Creditors: amounts falling due after more than one year |
7 |
|
|
(3,419) |
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|
(2,809) |
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|
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Net assets |
|
|
|
202,527 |
|
|
193,083 |
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|
|
|
|
|
|
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Capital and reserves |
Profit and loss account |
|
|
|
202,527 |
|
|
193,083 |
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Members' funds |
|
|
|
202,527 |
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|
193,083 |
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|
|
|
|
|
|
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The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
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The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
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A Forsythe |
Chair |
Approved by the board on 28 June 2021
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Association For Business Psychology Limited
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Notes to the Accounts |
for the year ended 31 December 2020
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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The financial statements are prepared in pound sterling (£), which is the functional currency of the entity. |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised when it is probable that an economic benefit will flow to the entity and the revenue and costs can be reliably measured. Subscription income is recognised over the period to which the subscription relates.
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
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Website |
over 3 years |
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Investments |
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Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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Stocks |
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Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
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2 |
Employees |
2020 |
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2019 |
Number |
Number |
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Average number of persons employed by the company |
0 |
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0 |
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3 |
Tangible fixed assets |
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|
Website |
£ |
|
Cost |
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At 1 January 2020 |
8,000 |
|
Additions |
1,150 |
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At 31 December 2020 |
9,150 |
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|
|
|
|
|
|
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Depreciation |
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At 1 January 2020 |
1,540 |
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Charge for the year |
2,672 |
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At 31 December 2020 |
4,212 |
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|
|
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Net book value |
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At 31 December 2020 |
4,938 |
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At 31 December 2019 |
6,460 |
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|
4 |
Debtors |
2020 |
|
2019 |
£ |
£ |
|
|
Trade debtors |
8,434 |
|
15,284 |
|
Prepayments |
|
|
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|
10,023 |
|
7,700 |
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18,457 |
|
22,984 |
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5 |
Investments |
2020 |
|
2019 |
£ |
£ |
|
Fair value |
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Listed investments |
39,006 |
|
35,162 |
|
Unlisted investments |
23,036 |
|
22,518 |
|
|
|
|
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|
62,042 |
|
57,680 |
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|
|
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Increase/(decrease) in fair value included in the profit and loss account for the financial year |
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Listed investments |
3,844 |
|
2,152 |
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6 |
Creditors: amounts falling due within one year |
2020 |
|
2019 |
£ |
£ |
|
|
Trade creditors |
9,871 |
|
627 |
|
Corporation Tax |
171 |
|
207 |
|
Vat payable |
1,889 |
|
3,878 |
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Accruals and deferred income |
6,972 |
|
14,748 |
|
Other creditors |
1,401 |
|
1,556 |
|
|
|
|
|
|
20,304 |
|
21,016 |
|
|
|
|
|
|
|
|
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7 |
Creditors: amounts falling due after one year |
2020 |
|
2019 |
£ |
£ |
|
|
Deferred tax |
3,419 |
|
2,809 |
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8 |
Post Balance Sheet Events |
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The financial statements have been prepared on the going concern basis. As with the majority of organisations Coronavirus will have an impact on the results of the company for 2021. The biggest impact is on holding The ABP annual conference which cannot go ahead in the same manner in 2021. The directors continue their assessment of the impact of COVID-19 and are implementing necessary plans and procedures to try and mitigate its effect and the Directors are of the opinion that the Association has sufficient resources to continue activities for the next 12 months from the date of signing these accounts.
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9 |
Related party transactions |
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The Directors and Company Secretary, past and present, have not received any remuneration. However on behalf of the company, they have discharged expenditure for which they have been fully reimbursed for organising regional events, board and subsistence expenditure. The amounts involved are: Ben Williams - (2019: £281) Lucy standing £18.17 (2019: £Nil) During the year the company was invoiced £2,370 (2019: £2,278) by Sten 10 Ltd, of which Ben Williams is a director. An amount of £7,063 (2019: £Nil) was also invoiced to the company by Chirality Consulting Ltd, of which Alex Forsythe is a director.
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10 |
Other information |
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Association For Business Psychology Limited is a private company limited by guarantee and incorporated in England. Its registered office is: |
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Peershaws |
|
Berewyk Hall Court Bures Road |
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White Colne, Colchester |
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Essex |
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CO6 2QB |