2023-12-31-accounts - Vascular Access Society Of Britain & Ireland

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VASBI LIMITED

REPORT AND ACCOUNTS

31 DECEMBER 2023

CONTENTS	Page
Company information	1
Directors’ report	2-3
Independent Examiner’s report	4
Statement of financial activities	5
Balance sheet	6
Notes to the accounts	7-8

Company registration number: 6780545 Charity number: 1135728

VASBI LIMITED

Secretary and registered office

J B Hanko 35 Westgate Huddersfield HD1 1PA

Accountants

Wheawill & Sudworth Limited Chartered Accountants 35 Westgate Huddersfield HD1 1PA

Bankers

Nat West Direct Business Banking PO Box 5479 1 Spinningfields Square Manchester M61 0NH

VASBI LIMITED

DIRECTORS’ REPORT

The directors present their report and accounts for the year ended 31 December 2023.

Principal activity and status

The company is a non-profit seeking charitable organisation whose principal activity during the year was to relieve sickness and to preserve and protect health by advancing the education, science and art of vascular access surgery. The company is limited by guarantee with registration number 6780545. It is also a registered charity, charity number 1135728.

Directors’ responsibilities for preparing the accounts

Company law requires the directors to prepare accounts for each financial year which give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing those accounts, the directors are required to

~ select suitable accounting policies and then apply them consistently;
~ make judgments and estimates that are reasonable and prudent;
~ prepare the accounts on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Directors

The directors who served during the year were:

R Jones

Review of financial position

These details are set out in the Statement of Financial Activities on page 5 of the accounts. Total reserves of the company at 31 December 2023 were £90,312 (2022: £78,853).

Public benefit statement

The directors have considered the general guidance on public benefit issued by the Charity Commission in carrying out its objectives and activities and are satisfied the charity is compliant with its constitution and the provisions of the Charities Act 2011.

Reserves policy and risk management

The directors have formulated policies to ensure that the company maintains adequate reserves to finance its operations. Risk management procedures are in place to help safeguard the on-going viability of the company and to protect its assets.

VASBI LIMITED

DIRECTORS’ REPORT (continued)

Guarantee

The company has no share capital and the liability of members is limited by guarantee. In the event of the company being wound up, the members can be called upon to contribute up to a maximum of £1 each.

Small companies

This report has been prepared in accordance with the provisions of the Companies Act 2006 relating to small companies.

On behalf of the board

J B HANKO Secretary 29 July 2024

VASBI LIMITED

REPORT OF THE INDEPENDENT EXAMINER TO THE DIRECTORS

I report on the accounts of Vasbi Limited for the year ended 31 December 2023 which are set out on pages 5 to 8.

Respective responsibilities of directors

As the directors you are responsible for the preparation of the accounts. The directors consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Act) and that an independent examination is needed.

It is my responsibility to:

examine the accounts under section 145 of the Act;
to follow the procedures laid down in General Directors given by the Charity Commission (under section 145(5)(b) of the Act); and
to state whether particular matters have come to my attention.

Basis of independent examiner’s report

My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as directors concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present ‘true and fair’ view and the report is limited to those matters set out in the statement below.

Independent examiner’s statement

In connection with my examination, no matter has come to my attention

i. which gives me reasonable cause to believe that in any material respect the requirements
to keep accounting records in accordance with section 130 of the Act; and
to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Act have not been met; or
ii. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

D M Butterworth WHEAWILL & SUDWORTH LIMITED Chartered Accountants 35 Westgate Huddersfield HD1 1PA 29 July 2024

VASBI LIMITED

STATEMENT OF FINANCIAL ACTIVITIES

for the year ended

31 DECEMBER 2023

		Unrestricted	Unrestricted
		funds	funds
Notes		2023	2022
	Incoming resources	£	£
2	Charitable revenues	77,422	25,720
3	Investment income	-	-
		──────	──────
	Total incoming resources	77,422	25,720
		──────	──────
	Resources expended
4	Charitable expenditure	65,350	24,524
5	Management and administration	613	613
		──────	──────
	Total resourced expended	65,963	25,137
		──────	──────
6	Net incoming (outgoing) resources for the year	11,459	583
	Total funds at 1 January 2023	78,853	78,270
		──────	──────
	Total funds at 31 December 2023	90,312	78,853
		══════	══════

The notes on pages 6 to 8 form part of these accounts.

VASBI LIMITED

BALANCE SHEET

31 DECEMBER 2023

Notes		2023	2022
		£	£
	Current assets
7	Debtors	22,027	5,000
	Cash at bank	69,185	74,753
		──────	──────
		91,212	79,753
		──────	──────
8	Creditors:amounts falling due within one year	(900)	(900)
		──────	──────
	Net assets	90,312	78,853
		══════	══════
	Reserves
10	Unrestricted funds	90,312	78,853
		══════	══════

For the year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors’ responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

The accounts on pages 5 to 9 were approved by the board of directors on 29 July 2024 and signed on its behalf by

==> picture [61 x 40] intentionally omitted <==

R G JONES Director

Company registration number 6780545

The notes on pages 6 to 8 form part of these accounts.

VASBI LIMITED

NOTES TO THE ACCOUNTS

31 DECEMBER 2023

1 Accounting policies

Basis of accounting

The financial statements have been prepared under the historical cost convention and include the results of the charity’s operations which are described in the directors’ report and all of which are continuing.

The financial statements have been prepared in accordance with Accounting and Reporting for Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Finance Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice. The charity is exempt from preparing a cash flow statement.

Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the directors in furtherance of the general activities of the charity and which have not been designated for other purposes.

Taxation

The company is not liable for corporation tax by reason of its charitable objects and status.

Incoming resources

All incoming resources are included in the Statements of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.

Value added tax

Value added tax is not recoverable by the charity, and as such is included in the relevant costs in the Statement of Financial Activities.

Resources expended

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to that category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Expenditure on management and administration of the charity

Administration expenditure not directly related to the charitable activity predominantly includes professional fees.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Charitable revenues	2023	2022
	£	£
Donations, sponsorship and subscriptions	77,422	25,720
	══════	══════

VASBI LIMITED

NOTES TO THE ACCOUNTS (continued)

31 DECEMBER 2023

3	Investment income	2023	2022
		£	£
	Interest on bank deposits	-	-
		══════	══════
4	Charitable expenditure
	Conference and related costs	65,350	24,524
		══════	══════
5	Management and administration
	Admin and professional costs	613	613
		══════	══════
6	Net incoming resources for the year
	This is stated after charging:
	Directors’ remuneration and expenses	-	-
		══════	══════
	The company had no employees during the year (2022: none).
7	Debtors
	Accrued income	22,027	5,000
		══════	══════
8	Creditors:amounts falling due within one year
	Accruals	900	900
		══════	══════
9	Capital commitments
	Capital expenditure contracted but not provided in the accounts	-	-
		══════	══════

10 Guarantee

11 Related party disclosures

The director is not aware of any material related party transactions that require disclosure.

There is no one controlling party of the company.