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REGISTERED NUMBER: 03538288 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Newark Town & District Club Limited

Newark Town & District Club Limited (Registered number: 03538288)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 4


Newark Town & District Club Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: G W Hicks
M F A Tuplin
D W Guthrie
R H Symonds
N B Watson
M L E Watson
L Thompson
K Robertshaw
J R Bird
T R G Mason


SECRETARY: M L E Watson


REGISTERED OFFICE: Barnby Gate House
Barnby Gate
Newark
NG24 1PX


REGISTERED NUMBER: 03538288 (England and Wales)


ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
Morton House
12 Appletongate
Newark
Nottinghamshire
NG24 1JY


BANKERS: National Westminster PLC
1 Market Place
Newark
Nottinghamshire
NG24 1DY

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Newark Town & District Club Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Newark Town & District Club Limited for the year ended 31 December 2023 which comprise the Statement of Income and Retained Earnings, Balance Sheet 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Newark Town & District Club Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Newark Town & District Club Limited and state those matters that we have agreed to state to the Board of Directors of Newark Town & District Club Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Newark Town & District Club Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Newark Town & District 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 loss of Newark Town & District Club Limited. You consider that Newark Town & District Club 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 Newark Town & District Club 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.






Wright Vigar Limited
Chartered Accountants & Business Advisers
Morton House
12 Appletongate
Newark
Nottinghamshire
NG24 1JY


25 March 2024

Newark Town & District Club Limited (Registered number: 03538288)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 262,134 266,906

CURRENT ASSETS
Stocks 2,048 1,789
Debtors 5 508 499
Cash at bank 8,450 2,190
11,006 4,478
CREDITORS
Amounts falling due within one year 6 25,384 13,423
NET CURRENT LIABILITIES (14,378 ) (8,945 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

247,756

257,961

CREDITORS
Amounts falling due after more than one
year

7

39,059

41,659
NET ASSETS 208,697 216,302

CAPITAL AND RESERVES
Called up share capital 9 56,551 54,551
Share premium 10 22,574 22,574
Revaluation reserve 10 62,007 62,007
Retained earnings 10 67,565 77,170
SHAREHOLDERS' FUNDS 11 208,697 216,302

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each 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.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 March 2024 and were signed on its behalf by:





G W Hicks - Director


Newark Town & District Club Limited (Registered number: 03538288)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Newark Town & District Club Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the value of goods and services supplied by the company including value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 12.5% on cost
Fixtures and fittings - 12.5% on cost

The directors feel that the refurbishment expenditure has enhanced the value of the property by more than the expenditure. Therefore, no depreciation is charged and the refurbishment expenditure has been added to the valuation of the property.

The property valuation is considered by the directors annually and an external valuation gained when relevant and necessary.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
The Inland Revenue have confirmed that no corporation tax is payable on profits from mutual trading whilst the club continues in its present form. Profits relating to the non- mutual trading are subject to corporation tax.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
Land and to and
Buildings property fittings Totals
£    £    £    £   
COST
At 1 January 2023
and 31 December 2023 228,729 35,906 18,515 283,150
DEPRECIATION
At 1 January 2023 - - 16,244 16,244
Charge for year - 4,488 284 4,772
At 31 December 2023 - 4,488 16,528 21,016
NET BOOK VALUE
At 31 December 2023 228,729 31,418 1,987 262,134
At 31 December 2022 228,729 35,906 2,271 266,906

Newark Town & District Club Limited (Registered number: 03538288)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 508 499

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 3,600 4,040
Trade creditors 3,198 1,535
Other creditors 18,586 7,848
25,384 13,423

Included in trade creditors is an amount of £312 (2022: £294) relating to tax and NIC.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 39,059 41,659

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 42,659 45,699

The bank loans are secured against the property held by the company.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
51 "A" Ordinary Shares 1.00 51 51
565 Ordinary Redeemable 100.0 0 56,500 54,500
56,551 54,551

10. RESERVES
Retained Share Revaluation
earnings premium reserve Totals
£    £    £    £   

At 1 January 2023 77,170 22,574 62,007 161,751
Deficit for the year (9,605 ) (9,605 )
At 31 December 2023 67,565 22,574 62,007 152,146

Newark Town & District Club Limited (Registered number: 03538288)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

11. RECONCILIATION OF MOVEMENTS IN SHAREHOLDERS' FUNDS
2023 2022
£    £   
Loss for the financial year (9,605 ) (17,241 )
"A" Ordinary shares redeemed
"A" Ordinary shares issued - (6 )
Ordinary redeemable shares issued 2,000 10,000
Ordinary redeemable shares redeemed - (1,100 )
Shares and other reserves - 224,649
Net (reduction)/addition to shareholders' funds (7,605 ) 216,302
Opening shareholders' funds 216,302 -
Closing shareholders' funds 208,697 216,302