CTPA Annual Report 2015 - page 43

Financial Statements
The financial statements show a surplus for the year
after taxation of £98,916 (2014: £60,193 restated
surplus) which, together with the surplus brought forward
of £608,756 results in a balance to be carried forward
of £707,672.
Charitable Contributions
The Association has continued to support the Look Good
Feel Better Programme in the UK by providing access to
meeting facilities and administrative support to the registered
charity Cosmetic, Toiletry & Perfumery Foundation (CTPF).
During 2015, the CTPA’s Director of Commercial Affairs acted
as Company Secretary to the CTPF from 1 January to 1 July.
From 1 July she became a Trustee and Director of CTPF.
No charge is made for these services.
Going Concern
The Association has adequate financial resources and is well
placed to manage the business risks. Our planning process,
including financial projections, has taken into consideration
the current economic climate and its potential impact on
the various sources of income and planned expenditure.
The directors have a reasonable expectation that the
Association has adequate resources to continue in operational
existence for the foreseeable future. The directors believe
that there are no material uncertainties that call into doubt
the Association’s ability to continue. The accounts have
therefore been prepared on the basis that the Association is
a going concern.
Insofar as each of the directors of the company at the date
of approval of this report is aware there is no relevant audit
information (information needed by the company’s auditors
in connection with preparing the audit report) of which the
company’s auditors are unaware. Each director has taken all
of the steps that he/she should have taken as a director in
order to make himself/herself aware of any relevant audit
information and to establish that the company’s auditors
are aware of that information.
Crowe Clark Whitehill LLP has expressed its willingness to
continue as auditor for the next financial year and a resolution
proposing its reappointment was submitted and approved at
the Board Meeting on 8 March 2016.
By order of the Board
J Traylen, Secretary
8 March 2016
Statement of Directors’ Responsibilities
The directors are responsible for preparing
the Annual Report and the financial
statements in accordance with applicable
law and United Kingdom Generally Accepted
Accounting Practice.
Company law requires the directors to prepare
financial statements for each financial year which
give a true and fair view of the state of affairs
of the company at the end of the year and of the
surplus or deficit of the company for the period.
In preparing those financial statements the
directors are required to:
• select suitable accounting policies and then
apply them consistently;
• make judgements and estimates that are
reasonable and prudent;
• prepare the financial statements on the
going concern basis unless it is inappropriate
to assume 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 financial statements comply
with the Companies Act 2006. The directors are
also responsible for safeguarding the assets of
the company and hence for taking reasonable
steps for the prevention and detection of fraud
or other irregularities.
The directors are responsible for the maintenance
and integrity of the corporate and financial
information included on the company’s website.
CTPA Annual Report
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