BrightAccountsProduction v1.0.0 v1.0.0 2022-11-01 The company was not dormant during the period The company was trading for the entire period The principal activity of the company is the promotion of motor sport. 4 December 2023 0 0 NI013008 2023-10-31 NI013008 2022-10-31 NI013008 2021-10-31 NI013008 2022-11-01 2023-10-31 NI013008 2021-11-01 2022-10-31 NI013008 uk-bus:CompanyLimitedByGuarantee 2022-11-01 2023-10-31 NI013008 uk-curr:PoundSterling 2022-11-01 2023-10-31 NI013008 uk-bus:FullAccounts 2022-11-01 2023-10-31 NI013008 uk-bus:CompanySecretaryDirector1 2022-11-01 2023-10-31 NI013008 uk-bus:Director2 2022-11-01 2023-10-31 NI013008 uk-bus:CompanySecretary1 2022-11-01 2023-10-31 NI013008 uk-bus:RegisteredOffice 2022-11-01 2023-10-31 NI013008 uk-bus:Agent1 2022-11-01 2023-10-31 NI013008 uk-bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 NI013008 uk-core:OtherReservesSubtotal 2023-10-31 NI013008 uk-core:OtherReservesSubtotal 2022-10-31 NI013008 uk-core:RetainedEarningsAccumulatedLosses 2023-10-31 NI013008 uk-core:RetainedEarningsAccumulatedLosses 2022-10-31 NI013008 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-10-31 NI013008 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2022-10-31 NI013008 uk-bus:FRS102 2022-11-01 2023-10-31 NI013008 uk-core:FurnitureFittingsToolsEquipment 2022-11-01 2023-10-31 NI013008 uk-core:WithinOneYear 2023-10-31 NI013008 uk-core:WithinOneYear 2022-10-31 NI013008 2022-11-01 2023-10-31 xbrli:pure iso4217:GBP xbrli:shares
Company Registration Number: NI013008
 
 
Maiden City Motor Club Limited
(A company limited by guarantee, not having a share capital)
 
Directors' Report and Unaudited Financial Statements
 
for the financial year ended 31 October 2023
Maiden City Motor Club Limited
(A company limited by guarantee, not having a share capital)
DIRECTORS AND OTHER INFORMATION

 
Directors John Declan McCay
John Sean Doherty
 
 
Company Secretary John Declan McCay
 
 
Company Registration Number NI013008
 
 
Registered Office 35 Clarendon Street
Derry
BT48 7ER
 
 
Accountants Brian McDaid & Associates
Chartered Accountants
35 Clarendon Street
Derry
BT47 7ER
 
 
Bankers Ulster Bank Limited
  29 Clooney Terrace
  Derry
  BT47 1AS
 
   
Solicitors Hampson Harvey Solicitors
  47 Clarendon Street
  Derry
  BT48 7ER



Maiden City Motor Club Limited
(A company limited by guarantee, not having a share capital)
DIRECTORS' REPORT
for the financial year ended 31 October 2023

 
The directors present their report and the unaudited financial statements for the financial year ended 31 October 2023.
 
The Company is limited by guarantee not having a share capital.
     
Directors
The directors who served during the financial year are as follows:
     
John Declan McCay
John Sean Doherty
   
     
Statement of Directors' Responsibilities
     
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
     
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law) including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A (Small Entities). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the surplus or deficit of the company for that period.

In preparing these financial statements, the directors are required to:
- select suitable accounting policies and apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
     
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
     
Special provisions relating to small companies
The above report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
     
     
On behalf of the board
     
     
     
John Declan McCay John Sean Doherty
Director Director
     
4 December 2023 4 December 2023



Maiden City Motor Club Limited
(A company limited by guarantee, not having a share capital)

CHARTERED ACCOUNTANTS' REPORT
to the Board of Directors on the Compilation of the unaudited financial statements of Maiden City Motor Club Limited
for the financial year ended 31 October 2023
 
In accordance with our engagement letter dated 16 November 2023 and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled for your approval the financial statements of the company for the financial year ended 31 October 2023 as set out on pages 6 to 11 which comprise the Income and Expenditure Account, the Statement of Total Recognised Gains and Losses, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given to us.
 
This report is made solely to the Board of Directors of Maiden City Motor Club Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the company’s Board of Directors that we have done so, and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and its Board of Directors, as a body, for our work or for this report.
 
We have carried out this engagement in accordance with guidance issued by Chartered Accountants Ireland and have complied with the relevant ethical guidance laid down by Chartered Accountants Ireland relating to members undertaking the compilation of financial statements.
 
You have acknowledged on the balance sheet for the year ended 31 October 2023 your duty to ensure that Maiden City Motor Club 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 surplus of Maiden City Motor Club Limited. You consider that Maiden City Motor Club Limited is exempt from the statutory audit requirement for the financial year.
 
We have not been instructed to carry out an audit or a review of the financial statements of Maiden City Motor Club Limited. For this reason, we have not verified the adequacy, 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.
 
 
 
BRIAN MCDAID & ASSOCIATES
Chartered Accountants
35 Clarendon Street
Derry
BT47 7ER
 
4 December 2023



Maiden City Motor Club Limited
(A company limited by guarantee, not having a share capital)
INCOME AND EXPENDITURE ACCOUNT
for the financial year ended 31 October 2023
2023 2022
Notes £ £

Income 50,842 93,382
 
Expenditure (48,623) (79,151)
───────── ─────────
Surplus before interest 2,219 14,231
 
Interest receivable and similar income 609 53
───────── ─────────
Surplus for the financial year 6 2,828 14,284
───────── ─────────
Total comprehensive income 2,828 14,284
         
Retained surplus brought forward   70,114   55,830
    ─────────   ─────────
Retained surplus carried forward   72,942   70,114
    ═════════   ═════════



Maiden City Motor Club Limited
(A company limited by guarantee, not having a share capital)
Company Registration Number: NI013008
BALANCE SHEET
as at 31 October 2023

2023 2022
Notes £ £
 
Fixed Assets
Tangible assets 3 4,214 1,088
───────── ─────────
 
Current Assets
Debtors 4 - 1,100
Cash at bank and in hand 75,019 69,725
───────── ─────────
75,019 70,825
───────── ─────────
Creditors: amounts falling due within one year 5 (5,577) (1,085)
───────── ─────────
Net Current Assets 69,442 69,740
───────── ─────────
Total Assets less Current Liabilities 73,656 70,828
═════════ ═════════
 
Reserves
Capital reserves and funds 6 714 714
Income and expenditure account 6 72,942 70,114
───────── ─────────
Members' Funds 73,656 70,828
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
For the financial year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
           
Approved by the Board and authorised for issue on 4 December 2023 and signed on its behalf by
           
           
           
John Declan McCay     John Sean Doherty
Director     Director
           



Maiden City Motor Club Limited
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 October 2023

   
1. General Information
 
Maiden City Motor Club Limited is a company limited by guarantee incorporated and registered in Northern Ireland. The registered number of the company is NI013008. The registered office of the company is 35 Clarendon Street, Derry, BT48 7ER. The principal activity of the company is the promotion of motor sport. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the financial year ended 31 October 2023 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Income
Income consists of revenue government grants received and competition receipts.
 
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.

Government grants are recognised using the accrual model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.

Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Fixtures, fittings and equipment - 20% Straight line
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Cash at bank and in hand
Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the Balance Sheet bank overdrafts are shown within Creditors.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation
As a non-profit making club, Maiden City Motor Club Limited is exempt from tax on any gains arising from club activities.
       
3. Tangible assets
  Fixtures, Total
  fittings and  
  equipment  
  £ £
Cost
At 1 November 2022 28,015 28,015
Additions 3,780 3,780
  ───────── ─────────
At 31 October 2023 31,795 31,795
  ───────── ─────────
Depreciation
At 1 November 2022 26,927 26,927
Charge for the financial year 654 654
  ───────── ─────────
At 31 October 2023 27,581 27,581
  ───────── ─────────
Net book value
At 31 October 2023 4,214 4,214
  ═════════ ═════════
At 31 October 2022 1,088 1,088
  ═════════ ═════════
       
4. Debtors 2023 2022
  £ £
 
Trade debtors - 1,100
  ═════════ ═════════
       
5. Creditors 2023 2022
Amounts falling due within one year £ £
 
Trade creditors 4,477 70
Credit card 85 -
Accruals 1,015 1,015
  ───────── ─────────
  5,577 1,085
  ═════════ ═════════
         
6. Income Statement
  Income and Capital Total
  expenditure reserves  
  account    
  £ £ £
 
At 1 November 2022 70,114 714 70,828
Surplus for the financial year 2,828 - 2,828
  ───────── ───────── ─────────
At 31 October 2023 72,942 714 73,656
  ═════════ ═════════ ═════════
       
7. Capital commitments
 
The company had no material capital commitments at the financial year-ended 31 October 2023.
   
8. Controlling interest
 
The company is under the control of the members.
   
9. Post-Balance Sheet Events
 
There have been no significant events affecting the company since the financial year-end.
       
10. Capital reserves
 
The capital grant represents the net assets of the now defunct Maiden City Motor Club, which was taken over by the company on 1 November 1978.