Company Registration No. 09785255 (England and Wales)
VOTE LEAVE LIMITED
(A COMPANY LIMITED BY GUARANTEE)
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 OCTOBER 2019
31 October 2019
PAGES FOR FILING WITH REGISTRAR
Company Registration No. 09785255
VOTE LEAVE LIMITED
(A COMPANY LIMITED BY GUARANTEE)
STATEMENT OF FINANCIAL POSITION
AS AT
31 OCTOBER 2019
31 October 2019
- 1 -
2019
2018
Notes
£
£
£
£
Current assets
Cash at bank and in hand
89,198
152,080
Creditors: amounts falling due within one year
2
(88,433)
(291,327)
Net current assets/(liabilities)
765
(139,247)
Reserves
Income and expenditure account
765
(139,247)
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 31 October 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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
.
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.
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 8 March 2021 and are signed on its behalf by:
J Moynihan
Director
VOTE LEAVE LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2019
- 2 -
1
Accounting policies
Company information
Vote Leave Limited is a private company limited by guarantee and is registered and incorporated in England and Wales
. The registered office is
3rd Floor
,
Portland
,
25 High Street
,
Crawley
,
West Sussex
,
RH10 1BG
.
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.
Going concern
The company was incorporated to be a vehicle for campaigning during the EU referendum in 2016. Now
false
that the referendum has passed, the
directors will close the company
once all liabilities have been cleared
and based on this these
accounts have
been prepared on a
non
going concern basis
. No material adjustments arose as a result of ceasing to apply the going concern basis. During the year and since the year end the directors have raised funds by way of donations to cover the liabilities of the company.
Income and expenditure
Income and expenses are included in the financial statements as they become receivable or due.
Expenses include VAT where applicable as the company cannot reclaim it.
Cash and cash equivalents
Cash and cash equivalents are basic financial instruments and include cash in hand
.
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised 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.
Basic financial assets
Basic financial assets, which include other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.
VOTE LEAVE LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2019
1
Accounting policies (Continued)
- 3 -
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including trade and other creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.
Taxation
The company is exempt from corporation tax, it being a company not carrying on a business for the purposes of making a profit. Corporation tax is payable on any interest income received.
2
Creditors: amounts falling due within one year
2019
2018
£
£
Corporation tax
21
21
Other creditors
88,412
291,306
88,433
291,327
3
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
.
4
Directors' transactions
During the year two directors made donations to the company totalling £200,000 (2018 - £180,000
) to help cover the costs of the company.