Company registration number 05650129 (England and Wales)
BUSINESS CLUBS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
PAGES FOR FILING WITH REGISTRAR
BUSINESS CLUBS LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
BUSINESS CLUBS LTD
BALANCE SHEET
AS AT
30 JUNE 2023
30 June 2023
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
3
27,889
34,619
Cash at bank and in hand
49
14,711
27,938
49,330
Creditors: amounts falling due within one year
4
(1,886,984)
(1,935,130)
Net current liabilities
(1,859,046)
(1,885,800)
Creditors: amounts falling due after more than one year
5
(19,908)
(29,042)
Net liabilities
(1,878,954)
(1,914,842)
Capital and reserves
Called up share capital
203,568
203,568
Share premium account
4,101,051
4,101,051
Profit and loss reserves
(6,183,573)
(6,219,461)
Total equity
(1,878,954)
(1,914,842)

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

For the financial year ended 30 June 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 7 March 2024 and are signed on its behalf by:
Ms S Brittan
Director
Company Registration No. 05650129
BUSINESS CLUBS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
- 2 -
1
Accounting policies
Company information

Business Clubs Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 180 Great Portland Street, London, W1W 5QZ.

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. The principal accounting policies adopted are set out below.

The company has ceased to trade and under UK GAAP is not a going concern and cannot use that basis for accounting. The directors have prepared the financial statements on a break-up basis. All assets are included at amounts they are expected to realise and liabilities at amounts that the directors expect them to be settled at. The directors have now agreed and settled the lease commitments with the landlord.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Cash at bank and in hand

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.

1.5
Financial instruments

The company has only basic financial instruments.

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.

BUSINESS CLUBS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 3 -
Basic financial liabilities

Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction.

1.6
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

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

2023
2022
Number
Number
Total
2
2
3
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
27,889
34,619
4
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
17,569
114,321
Amounts owed to group undertakings
1,855,400
1,767,400
Other creditors
14,015
53,409
1,886,984
1,935,130

 

5
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
19,908
29,042
2023-06-302022-07-01false22 February 2024CCH SoftwareCCH Accounts Production 2023.300No description of principal activityMs S BrittanMr N Masonfalse056501292022-07-012023-06-30056501292023-06-30056501292022-06-3005650129core:CurrentFinancialInstrumentscore:WithinOneYear2023-06-3005650129core:CurrentFinancialInstrumentscore:WithinOneYear2022-06-3005650129core:Non-currentFinancialInstrumentscore:AfterOneYear2023-06-3005650129core:Non-currentFinancialInstrumentscore:AfterOneYear2022-06-3005650129core:CurrentFinancialInstruments2023-06-3005650129core:CurrentFinancialInstruments2022-06-3005650129core:ShareCapital2023-06-3005650129core:ShareCapital2022-06-3005650129core:SharePremium2023-06-3005650129core:SharePremium2022-06-3005650129core:RetainedEarningsAccumulatedLosses2023-06-3005650129core:RetainedEarningsAccumulatedLosses2022-06-3005650129bus:Director12022-07-012023-06-30056501292021-07-012022-06-3005650129core:WithinOneYear2023-06-3005650129core:WithinOneYear2022-06-3005650129core:Non-currentFinancialInstruments2023-06-3005650129core:Non-currentFinancialInstruments2022-06-3005650129bus:PrivateLimitedCompanyLtd2022-07-012023-06-3005650129bus:SmallCompaniesRegimeForAccounts2022-07-012023-06-3005650129bus:FRS1022022-07-012023-06-3005650129bus:AuditExemptWithAccountantsReport2022-07-012023-06-3005650129bus:Director22022-07-012023-06-3005650129bus:FullAccounts2022-07-012023-06-30xbrli:purexbrli:sharesiso4217:GBP