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REGISTERED NUMBER: 00176643 (England and Wales)















GILLINGHAM MASONIC CLUB COMPANY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023






GILLINGHAM MASONIC CLUB COMPANY LIMITED (REGISTERED NUMBER: 00176643)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023




Page

Company Information 1

Statement of Financial Position 3

Notes to the Financial Statements 5


GILLINGHAM MASONIC CLUB COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2023







DIRECTORS: Mr S D Millgate
Mr D Edwicker
Mr P K J Chun
Mr J Cameron-Potter
Mr P B Paskell
Mr T R Case
Mr D S Perrin
Mr M P Reeves
Mr K Boniface
Mr E J Hunt
Mr S P Jessup
Mr C E Doll
Mr D F Firth
Mr L G Hooker
Mr T Parnell
Mr A Taylor
Mr M Treadwell
Mr T Wingrove


SECRETARY: Mr A J Mahoney


REGISTERED OFFICE: Masonic Centre
Franklin Road
GILLINGHAM
Kent
ME7 4DG


REGISTERED NUMBER: 00176643 (England and Wales)


ACCOUNTANTS: McCabe Ford Williams
Chartered Accountants
Building 1063
Cornforth Drive
Kent Science Park
SITTINGBOURNE
Kent
ME9 8PX



GILLINGHAM MASONIC CLUB COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2023







BANKERS: HSBC
231 High Str
Chatham
Kent
ME4 4BQ


SOLICITORS: Hawkridge & Company LLP
35-39 Canterbury Street
Gillingham
Kent
ME7 5TR

GILLINGHAM MASONIC CLUB COMPANY LIMITED (REGISTERED NUMBER: 00176643)

STATEMENT OF FINANCIAL POSITION
31 AUGUST 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 366,953 365,725

CURRENT ASSETS
Debtors 6 400 455
Cash at bank 42,185 40,124
42,585 40,579
CREDITORS
Amounts falling due within one year 7 8,057 6,745
NET CURRENT ASSETS 34,528 33,834
TOTAL ASSETS LESS CURRENT
LIABILITIES

401,481

399,559

CREDITORS
Amounts falling due after more than one
year

8

(2,000

)

(4,455

)

PROVISIONS FOR LIABILITIES (3,660 ) (2,902 )
NET ASSETS 395,821 392,202

CAPITAL AND RESERVES
Called up share capital 9 10,000 10,000
Capital redemption reserve 10,783 10,783
Retained earnings 375,038 371,419
SHAREHOLDERS' FUNDS 395,821 392,202

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

GILLINGHAM MASONIC CLUB COMPANY LIMITED (REGISTERED NUMBER: 00176643)

STATEMENT OF FINANCIAL POSITION - continued
31 AUGUST 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 March 2024 and were signed on its behalf by:





Mr S P Jessup - Director


GILLINGHAM MASONIC CLUB COMPANY LIMITED (REGISTERED NUMBER: 00176643)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1. STATUTORY INFORMATION

Gillingham Masonic Club Company 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The directors consider the reserves and cash resources of the company along with known future contracts to be sufficient to allow the company to continue trading for the foreseeable future. Accordingly the directors consider it appropriate to adopt the going concern basis in preparing the accounts.

Significant judgements and estimates
In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period to which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods. The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are the depreciation charges that are calculated with reference to the useful economic life of fixed assets.

Turnover
Turnover represents income from the letting of rooms for functions and meetings and franchise fees. The company is not registered for 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.

Freehold property -provided over 50 years straight line to a residual value, currently deemed
at least equal to cost.
Improvements to property -provided over 50 years straight line to a residual value, currently deemed
at least equal to cost.
Fixtures and fittings-25% on reducing balance

GILLINGHAM MASONIC CLUB COMPANY LIMITED (REGISTERED NUMBER: 00176643)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

3. ACCOUNTING POLICIES - continued

Financial instruments
The company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

a) 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.

b) Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand.

c) Impairment of financial assets
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

d) Trade and other creditors
Debt instruments like loans and other accounts payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable within one year, typically trade payables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset is measured, initially and subsequently, at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

GILLINGHAM MASONIC CLUB COMPANY LIMITED (REGISTERED NUMBER: 00176643)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

3. ACCOUNTING POLICIES - continued

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like plant and equipment, are reviewed, to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit and loss.

Inventories are also assessed for impairment at each reporting date. Each item of inventory is compared to the last sold date and an impairment loss recognised on a percentage basis in profit and loss.

If an impairment loss is subsequently reversed, the carrying amount of the asset or group of related assets is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset or group of related assets in prior periods. A reversal of an impairment loss is recognised immediately in profit and loss.

4. EMPLOYEES AND DIRECTORS

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

GILLINGHAM MASONIC CLUB COMPANY LIMITED (REGISTERED NUMBER: 00176643)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
Freehold to and
property property fittings Totals
£    £    £    £   
COST
At 1 September 2022 7,944 342,505 61,412 411,861
Additions - - 5,965 5,965
At 31 August 2023 7,944 342,505 67,377 417,826
DEPRECIATION
At 1 September 2022 - - 46,136 46,136
Charge for year - - 4,737 4,737
At 31 August 2023 - - 50,873 50,873
NET BOOK VALUE
At 31 August 2023 7,944 342,505 16,504 366,953
At 31 August 2022 7,944 342,505 15,276 365,725

Included in cost of land and buildings is freehold land of £ 7,944 (2022 - £ 7,944 ) which is not depreciated.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Other debtors 400 400
Prepayments - 55
400 455

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade creditors 1,717 1,717
Other creditors 6,340 4,723
Other taxes and PAYE - 305
8,057 6,745

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.8.23 31.8.22
£    £   
Other loan - 1-2 years - 955
Other creditors 2,000 3,500
2,000 4,455

GILLINGHAM MASONIC CLUB COMPANY LIMITED (REGISTERED NUMBER: 00176643)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.23 31.8.22
value: £    £   
10,000 Ordinary £1 10,000 10,000

Gillingham Masonic Club Company Limited own shares in their own company to the nominal value of £419.