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Company registration number: 08343391
Stokesley Show Limited
Unaudited filleted financial statements
31 December 2023
Stokesley Show Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Stokesley Show Limited
Directors and other information
Directors M D M Jones
N Waters
D Evans
Company number 08343391
Registered office 1 Mount Pleasant Way
Stokesley
North Yorkshire
TS9 5NZ
Accountants Chipchase Manners
384 Linthorpe Road
Middlesbrough
TS5 6HA
Stokesley Show Limited
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Stokesley Show Limited
Year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Stokesley Show Limited for the year ended 31 December 2023 which comprise the statement of financial position and 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 http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Stokesley Show Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Stokesley Show Limited and state those matters that we have agreed to state to the board of directors of Stokesley Show Limited 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 Stokesley Show Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Stokesley Show Limited 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 loss of Stokesley Show Limited. You consider that Stokesley Show Limited 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 Stokesley Show Limited. 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.
Chipchase Manners
Chartered Accountants
384 Linthorpe Road
Middlesbrough
TS5 6HA
26 March 2024
Stokesley Show Limited
Statement of financial position
31 December 2023
2023 2022
Note £ £ £ £
Current assets
Debtors 6 5,822 647
Cash at bank and in hand 31,831 67,830
_______ _______
37,653 68,477
Creditors: amounts falling due
within one year 7 ( 111,350) ( 111,351)
_______ _______
Net current liabilities ( 73,697) ( 42,874)
_______ _______
Total assets less current liabilities ( 73,697) ( 42,874)
_______ _______
Net liabilities ( 73,697) ( 42,874)
_______ _______
Capital and reserves
Called up share capital 1 1
Profit and loss account ( 73,698) ( 42,875)
_______ _______
Shareholders deficit ( 73,697) ( 42,874)
_______ _______
For the year ending 31 December 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 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 comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 26 March 2024 , and are signed on behalf of the board by:
M D M Jones
Director
Company registration number: 08343391
Stokesley Show Limited
Notes to the financial statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1 Mount Pleasant Way, Stokesley, North Yorkshire, TS9 5NZ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 20 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2022: 3 ).
5. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 January 2023 and 31 December 2023 1,522 1,522
_______ _______
Depreciation
At 1 January 2023 and 31 December 2023 1,522 1,522
_______ _______
Carrying amount
At 31 December 2023 - -
_______ _______
At 31 December 2022 - -
_______ _______
6. Debtors
2023 2022
£ £
Trade debtors 5,675 -
Other debtors 147 647
_______ _______
5,822 647
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 1,957 -
Amounts owed to group undertakings and undertakings in which the company has a participating interest 107,363 95,382
Social security and other taxes 980 15,019
Other creditors 1,050 950
_______ _______
111,350 111,351
_______ _______
8. Controlling party
The company is managed by directors appointed by the council of Stokesley Agricultural Society onbehalf of the members of Stokesley Agricultural Society, who control the company.The council of Stokesley Agricultural Society have indicated that they will support the company for theforeseeable future. As a result, the accounts have been prepared on a going concern basis.