1 false false false false false false false false false false true false false false false false false No description of principal activity 2022-08-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 12521315 2022-08-01 2023-07-31 12521315 2023-07-31 12521315 2022-07-31 12521315 2021-08-01 2022-07-31 12521315 2022-07-31 12521315 2021-07-31 12521315 bus:OrdinaryShareClass1 2022-08-01 2023-07-31 12521315 bus:Director1 2022-08-01 2023-07-31 12521315 core:WithinOneYear 2023-07-31 12521315 core:WithinOneYear 2022-07-31 12521315 core:AfterOneYear 2023-07-31 12521315 core:AfterOneYear 2022-07-31 12521315 core:ShareCapital 2023-07-31 12521315 core:ShareCapital 2022-07-31 12521315 core:RetainedEarningsAccumulatedLosses 2023-07-31 12521315 core:RetainedEarningsAccumulatedLosses 2022-07-31 12521315 bus:SmallEntities 2022-08-01 2023-07-31 12521315 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 12521315 bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 12521315 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 12521315 bus:FullAccounts 2022-08-01 2023-07-31 12521315 bus:OrdinaryShareClass1 2023-07-31 12521315 bus:OrdinaryShareClass1 2022-07-31 12521315 core:AfterOneYear 2022-08-01 2023-07-31 12521315 core:OtherRelatedParties 2022-08-01 2023-07-31
COMPANY REGISTRATION NUMBER: 12521315
ClubNorth Limited
Filleted Unaudited Financial Statements
31 July 2023
ClubNorth Limited
Financial Statements
Year ended 31 July 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
ClubNorth Limited
Statement of Financial Position
31 July 2023
2023
2022
Note
£
£
£
£
Current assets
Debtors
5
67,058
57,320
Cash at bank and in hand
8,126
6,433
--------
--------
75,184
63,753
Creditors: amounts falling due within one year
6
49,192
30,168
--------
--------
Net current assets
25,992
33,585
--------
--------
Total assets less current liabilities
25,992
33,585
Creditors: amounts falling due after more than one year
7
19,101
33,300
--------
--------
Net assets
6,891
285
--------
--------
Capital and reserves
Called up share capital
8
2
2
Profit and loss account
6,889
283
-------
----
Shareholders funds
6,891
285
-------
----
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 income and retained earnings has not been delivered.
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
ClubNorth Limited
Statement of Financial Position (continued)
31 July 2023
These financial statements were approved by the board of directors and authorised for issue on 18 April 2024 , and are signed on behalf of the board by:
Mr R K Ellings
Director
Company registration number: 12521315
ClubNorth Limited
Notes to the Financial Statements
Year ended 31 July 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 Printing House, 66 Lower Road, Harrow, HA2 0DH.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.
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 and the performance 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. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
A financial asset or a financial liability is recognised only when the entity 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 1 (2022: 1 ).
5. Debtors
2023
2022
£
£
Trade debtors
46,458
54,320
Other debtors
20,600
3,000
--------
--------
67,058
57,320
--------
--------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
14,203
13,004
Trade creditors
988
566
Accruals and deferred income
5,500
1,500
Corporation tax
15,160
8,034
Social security and other taxes
13,267
6,993
Director loan accounts
74
71
--------
--------
49,192
30,168
--------
--------
The bank loans and overdrafts amount is secured by the assets held by the company.
7. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
19,101
33,300
--------
--------
The bank loans and overdrafts amount is secured by the assets held by the company.
8. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
2
2
2
2
----
----
----
----
9. Related party transactions
The amounts owed by other related parties in respect of short term interest free loans were £40,042 (2022 - £42,000).