COMPANY REGISTRATION NUMBER:
2701537
Kellingley (Knottingley) Miners Welfare Scheme Social Club Limited |
|
Company Limited by Guarantee |
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Filleted unaudited financial statements |
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Kellingley (Knottingley) Miners Welfare Scheme Social Club Limited |
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Company Limited by Guarantee |
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Statement of financial position |
|
31 March 2023
Current assets
Stocks |
1,176 |
|
1,214 |
Debtors |
6 |
1,300 |
|
1,470 |
Cash at bank and in hand |
32,102 |
|
48,425 |
|
-------- |
|
-------- |
|
34,578 |
|
51,109 |
|
|
|
|
|
Creditors: amounts falling due within one year |
7 |
4,700 |
|
5,032 |
|
-------- |
|
-------- |
Net current assets |
|
29,878 |
46,077 |
|
|
-------- |
-------- |
Total assets less current liabilities |
|
29,878 |
46,077 |
|
|
|
|
|
Creditors: amounts falling due after more than one year |
8 |
|
32,277 |
30,278 |
|
|
-------- |
-------- |
Net (liabilities)/assets |
|
(
2,399) |
15,799 |
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|
-------- |
-------- |
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|
|
|
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Capital and reserves
Profit and loss account |
|
(
2,399) |
15,799 |
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|
-------- |
-------- |
Members (deficit)/funds |
|
(
2,399) |
15,799 |
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|
-------- |
-------- |
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These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31st March 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 financial statements 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 financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
24 November 2023
, and are signed on behalf of the board by:
Company registration number:
2701537
Kellingley (Knottingley) Miners Welfare Scheme Social Club Limited |
|
Company Limited by Guarantee |
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Notes to the financial statements |
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Year ended 31st March 2023
1.
General information
The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is Kellingley Social Centre, Marine Villa Road, Knottingley, West Yorkshire, WF11 8ER.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The accounts are prepared on a going concern basis despite a deficit of members funds of £2,410 at the balance sheet date. Trade has been substantially reduced as the local council undertake regeneration works on the business premises. Whilst temporary facilities have been put in place to allow the company to continue to trade, its future viability is dependent on maintaining profitability and/or having access to additional finance. On this basis, the directors consider it appropriate to prepare the accounts on a going concern basis. However, should further trading losses arise and additional financing or support not be available, the going concern basis used in preparing the company's accounts may be invalid and adjustments would have to be made to reduce the value of assets to their realisable amount and to provide for any further liabilities which might arise. The accounts do not include any of the adjustments to the company's assets or liabilities that might be necessary should the going concern basis prove to be inappropriate.
Revenue recognition
Turnover comprises revenue received from bar takings, exclusive of value added tax, which is recognised at point of sale. Other operating income comprises members' efforts and sundry income which is only recognised once the amount of revenue can be measured reliably.
Income tax
Taxation represents the sum of tax currently payable. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis.
Stocks
Stocks are valued at lower of cost and net realisable value, after making allowance for obsolete and slow-moving items.
Financial instruments
Basic financial instruments are recognised at transaction price. The company holds the following financial assets and liabilities: Cash Short-term trade and other debtors and creditors Cash in the balance sheet comprises cash at banks and in hand and short-term deposits with an original maturity date of three months or less. These balances are recorded at transaction price. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account before operating profit.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4.
Company limited by guarantee
The liability of the members of the company is limited by guarantee to £1 each.
If upon the winding-up or dissolution of the company there remains, after the satisfaction of all its debts and liabilities, any property whatsoever, the same shall not be paid to or distributed among the members of the company generally but shall be paid or transferred to the Kellingley (Knottingley) Miners' Welfare Scheme.
5.
Employee numbers
The average number of persons employed by the company during the year amounted to
6
(2022:
7
).
6.
Debtors
|
2023 |
2022 |
|
£ |
£ |
Other debtors |
1,300 |
1,470 |
|
-------- |
-------- |
|
|
|
7.
Creditors:
amounts falling due within one year
|
2023 |
2022 |
|
£ |
£ |
Trade creditors |
(
255) |
30 |
Corporation tax |
– |
12 |
Social security and other taxes |
1,323 |
1,056 |
Other creditors |
3,632 |
3,934 |
|
-------- |
-------- |
|
4,700 |
5,032 |
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-------- |
-------- |
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8.
Creditors:
amounts falling due after more than one year
|
2023 |
2022 |
|
£ |
£ |
Welfare Scheme |
32,277 |
30,278 |
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-------- |
-------- |
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|
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9.
Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
|
2023 |
2022 |
|
£ |
£ |
Not later than 1 year |
156 |
826 |
Later than 1 year and not later than 5 years |
– |
156 |
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-------- |
-------- |
|
156 |
982 |
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-------- |
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10.
Related party transactions
A company director also acts as a trustee of charity number 523747, the Kellingley (Knottingley) Miners' Welfare Scheme. In consideration of a licence fee, parts of the property and facilities of the charity are utilised by the company. The level of licence fee is determined by and must be sufficient to meet the annual running expenses of the charity. The licence fee for the year ended 31st March 2023 amounted to £18,502 (2022 £25,906). Other creditors falling due after one year include £32,277 in in relation to the balance outstanding to the charity on 31st March 2023 (2022 £30,278).