Company registration number 08817130 (England and Wales)
LONGRIDGE FIELD DAY EVENTS
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
PAGES FOR FILING WITH REGISTRAR
LONGRIDGE FIELD DAY EVENTS
COMPANY INFORMATION
Directors
Mrs J Potter
Mr T Bond
Mrs K A Keighley
Mr AM Leonard
Company number
08817130
Registered office
Longridge Heritage Centre
Old Station Buildings
Berry Lane
Longridge
Lancashire
PR3 3JP
Accountants
Bishops
Phoenix Park
Blakewater Road
Blackburn
Lancashire
BB1 5BG
LONGRIDGE FIELD DAY EVENTS
CONTENTS
Page
Accountants' report
1
Statement of financial position
2
Notes to the financial statements
3 - 5
LONGRIDGE FIELD DAY EVENTS
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF LONGRIDGE FIELD DAY EVENTS FOR THE YEAR ENDED 31 AUGUST 2023
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Longridge Field Day Events for the year ended 31 August 2023 which comprise, the statement of financial position and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of Longridge Field Day Events, as a body, in accordance with the terms of our engagement letter dated 1 September 2022. Our work has been undertaken solely to prepare for your approval the financial statements of Longridge Field Day Events and state those matters that we have agreed to state to the board of directors of Longridge Field Day Events, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Longridge Field Day Events and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Longridge Field Day Events has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and surplus of Longridge Field Day Events. You consider that Longridge Field Day Events is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Longridge Field Day Events. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Bishops
1 February 2024
Chartered Accountants
Phoenix Park
Blakewater Road
Blackburn
Lancashire
BB1 5BG
LONGRIDGE FIELD DAY EVENTS
STATEMENT OF FINANCIAL POSITION
AS AT
31 AUGUST 2023
31 August 2023
- 2 -
2023
2022
Notes
£
£
£
£
Current assets
Cash at bank and in hand
19,314
14,055
Creditors: amounts falling due within one year
4
(8,724)
(8,724)
Net current assets
10,590
5,331
Reserves
Income and expenditure account
10,590
5,331
Members' funds
10,590
5,331

The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true

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

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 23 January 2024 and are signed on its behalf by:
Mrs J Potter
Mr T Bond
Director
Director
Mrs K A Keighley
Mr AM Leonard
Director
Director
Company registration number 08817130 (England and Wales)
LONGRIDGE FIELD DAY EVENTS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
- 3 -
1
Accounting policies
Company information

Longridge Field Day Events is a private company limited by guarantee incorporated in England and Wales. The registered office is Longridge Heritage Centre, Old Station Buildings, Berry Lane, Longridge, Lancashire, PR3 3JP.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Income and expenditure

Income and expenses are included in the financial statements as they become receivable or due.

 

Expenses include VAT where applicable as the company cannot reclaim it.

1.3
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

LONGRIDGE FIELD DAY EVENTS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
1
Accounting policies
(Continued)
- 4 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.5
Taxation

The company is exempt from corporation tax, it being a company not carrying on a business for the purposes of making a profit.

1.6
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

1.7
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
4
4
LONGRIDGE FIELD DAY EVENTS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
- 5 -
4
Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
8,724
8,724
5
Members' liability

The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.

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