Registered number
09440409
NMTF Ltd
Filleted Accounts for the year to
31 December 2019
NMTF Ltd
Registered number 09440409
Balance Sheet
as at 31 December 2019
Notes 2019 2018
£ £
Fixed assets
Intangible assets 6 9,091 -
Tangible assets 7 584,473 612,351
Investments 8 800,002 800,002
1,393,566 1,412,353
Current assets
Stocks 16,028 30,892
Debtors 9 767,148 859,088
Cash at bank and in hand 153,406 140,256
936,582 1,030,236
Creditors: amounts falling due within one year 10 (548,981) (560,014)
Net current assets 387,601 470,222
Net assets 1,781,167 1,882,575
Reserves
Profit and loss account 1,781,167 1,882,575
Members' funds 1,781,167 1,882,575
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.
Mr M Nicholson (President)
Director
Mr J Dyson (President-Elect)
Director
Approved by the board on 30 March 2020
NMTF Ltd
Registered number 09440409
Notes to the Accounts
for the year ended 31 December 2019
1 Statutory information
The company is a private company, limited by guarantee, registered in England and Wales. The company's registered number and registered office address can be found on the company information page.
The presentation and functional currency of the financial statements is Pounds Sterling (£).
2 Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.
3 Accounting policies
Basis of preparation
The financial statements have been prepared on a going concern basis under the historical cost
convention.
Significant judgements and estimates
The principal accounting policies and significant judgements and estimates applied in the preparation of these financial statements are set out below. These policies, judgements and estimates have been consistently applied to all years presented unless otherwise stated. The significant judgements and estimates applied are the useful lives and residual values of tangible fixed assets at the end of their useful lives.
Turnover
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 immediately as the services are provided under a strict policy of no refunds and this is documented and explained at every stage of the purchase.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
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:
Freehold buildings over 50 years
Website and membership database over 5 years
Motor vehicles over 3 years
Fixtures, fittings, tools and equipment over 5 years
Assets transferred from the previous entity inherit the reduced expected useful life based on their age at transfer.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. 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.
Stocks
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.
Debtors
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.
Creditors
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.
Taxation
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. Current tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
4 Audit information
The audit report is unqualified.
Senior statutory auditor: Stephen Watson FCCA CTA
Firm: Harris & Co Limited
Date of audit report: 30 March 2020
5 Employees 2019 2018
Number Number
Average number of persons employed by the company 16 18
6 Intangible fixed assets £
Membership database and website
Cost
Additions 9,918
At 31 December 2019 9,918
Amortisation
Provided during the year 827
At 31 December 2019 827
Net book value
At 31 December 2019 9,091
The cost of the membership database and website is being written off in equal annual instalments over its estimated economic life of 5 years.
7 Tangible fixed assets
Land and buildings Fixtures and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 January 2019 555,780 58,478 134,725 748,983
Additions - 6,945 45,220 52,165
Disposals - (3,420) (59,099) (62,519)
At 31 December 2019 555,780 62,003 120,846 738,629
Depreciation
At 1 January 2019 37,970 31,180 67,482 136,632
Charge for the year 15,187 9,495 38,823 63,505
On disposals - (2,015) (43,966) (45,981)
At 31 December 2019 53,157 38,660 62,339 154,156
Net book value
At 31 December 2019 502,623 23,343 58,507 584,473
At 31 December 2018 517,810 27,298 67,243 612,351
8 Investments
Investments in
subsidiary Other
undertakings investments Total
£ £ £
Cost
At 1 January 2019 2 800,000 800,002
At 31 December 2019 2 800,000 800,002
9 Debtors 2019 2018
£ £
Trade debtors 11,172 9,490
Other debtors 755,976 849,598
767,148 859,088
10 Creditors: amounts falling due within one year 2019 2018
£ £
Trade creditors 493,795 507,365
Amounts owed to group undertakings and undertakings in which the company has a participating interest 1,379 -
Taxation and social security costs 18,953 18,742
Other creditors 34,854 33,907
548,981 560,014
11 Other financial commitments 2019 2018
£ £
Less than one year One to five years
£ £
Total future minimum payments under non-cancellable operating leases 23,925 60,784 84,709 108,634
12 Limited by guarantee
The company is a private company limited by guarantee and consequently does not have share capital.

Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.
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