Series 2 Club Limited 2451020 false 2022-02-01 2023-01-31 2023-01-31 The principal activity of the company is the restoration and appreciation of series 2 landrovers. Digita Accounts Production Advanced 6.30.9574.0 true true 2451020 2022-02-01 2023-01-31 2451020 2023-01-31 2451020 core:RetainedEarningsAccumulatedLosses 2023-01-31 2451020 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 2451020 core:FurnitureFittings 2023-01-31 2451020 bus:SmallEntities 2022-02-01 2023-01-31 2451020 bus:AuditExemptWithAccountantsReport 2022-02-01 2023-01-31 2451020 bus:FullAccounts 2022-02-01 2023-01-31 2451020 bus:SmallCompaniesRegimeForAccounts 2022-02-01 2023-01-31 2451020 bus:RegisteredOffice 2022-02-01 2023-01-31 2451020 bus:CompanySecretary1 2022-02-01 2023-01-31 2451020 bus:Director10 2022-02-01 2023-01-31 2451020 bus:Director17 2022-02-01 2023-01-31 2451020 bus:Director18 2022-02-01 2023-01-31 2451020 bus:Director20 2022-02-01 2023-01-31 2451020 bus:Director21 2022-02-01 2023-01-31 2451020 bus:Director22 2022-02-01 2023-01-31 2451020 bus:Director25 2022-02-01 2023-01-31 2451020 bus:Director27 2022-02-01 2023-01-31 2451020 bus:CompanyLimitedByGuarantee 2022-02-01 2023-01-31 2451020 core:FurnitureFittings 2022-02-01 2023-01-31 2451020 core:OtherPropertyPlantEquipment 2022-02-01 2023-01-31 2451020 countries:AllCountries 2022-02-01 2023-01-31 2451020 2022-01-31 2451020 core:FurnitureFittings 2022-01-31 2451020 2021-02-01 2022-01-31 2451020 2022-01-31 2451020 core:RetainedEarningsAccumulatedLosses 2022-01-31 2451020 core:CurrentFinancialInstruments core:WithinOneYear 2022-01-31 2451020 core:FurnitureFittings 2022-01-31 iso4217:GBP xbrli:pure

Registration number: 2451020

Series 2 Club Limited

(A company limited by guarantee)

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2023

 

Series 2 Club Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Series 2 Club Limited

Company Information

Directors

R Allin

Mr C Theobald

Mr J I Cossmann

Mr A Phillipou

Mr M Wilson

Mr R H Jones

Mrs W A Lowe

Mr P Holden

Company secretary

Mr D A Jones

Registered office

483 Green Lanes
London
N13 4BS

Accountants

Clement Rabjohns Limited
111/113 High Street
Evesham
Worcestershire
WR11 4XP

 

Series 2 Club Limited

(Registration number: 2451020)
Balance Sheet as at 31 January 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

216

239

Current assets

 

Stocks

5

3,578

3,578

Cash at bank and in hand

 

76,335

67,724

 

79,913

71,302

Creditors: Amounts falling due within one year

6

(686)

(645)

Net current assets

 

79,227

70,657

Net assets

 

79,443

70,896

Reserves

 

Retained earnings

79,443

70,896

Surplus

 

79,443

70,896

For the financial year ending 31 January 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; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 September 2023 and signed on its behalf by:
 

.........................................
Mr M Wilson
Director

 

Series 2 Club Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

1

General information

The company is a company limited by guarantee, incorporated in England & Wales, 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.

The address of its registered office is:
483 Green Lanes
London
N13 4BS

These financial statements were authorised for issue by the Board on 22 September 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Series 2 Club Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Equipment

20% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2022 - 11).

 

Series 2 Club Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

4

Tangible assets

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 February 2022

16,159

16,159

Additions

270

270

At 31 January 2023

16,429

16,429

Depreciation

At 1 February 2022

15,920

15,920

Charge for the year

293

293

At 31 January 2023

16,213

16,213

Carrying amount

At 31 January 2023

216

216

At 31 January 2022

239

239

5

Stocks

2023
£

2022
£

Finished goods and goods for resale

3,578

3,578

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

43

1

Accruals and deferred income

643

643

Other creditors

-

1

686

645