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Registration number: 02333942

Louth and District Indoor Bowling Club Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Louth and District Indoor Bowling Club Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Louth and District Indoor Bowling Club Limited

Company Information

Directors

G R Willoughby

M Norton

A N Watson

D Blow

R J Stanley

P J Stanley

C Hanslip

Mrs C Hanslip

Registered office

Birch Road
Louth
Lincolnshire
LN11 8DU

Solicitors

Wilkin Chapman
17 Cornmarket
Louth
Lincolnshire
LN11 9QA

 

Louth and District Indoor Bowling Club Limited

(Registration number: 02333942)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

143,679

157,500

Current assets

 

Stocks

5

4,608

3,557

Debtors

6

5,464

4,186

Cash at bank and in hand

 

192,926

174,852

 

202,998

182,595

Creditors: Amounts falling due within one year

7

(40,351)

(30,575)

Net current assets

 

162,647

152,020

Net assets

 

306,326

309,520

Capital and reserves

 

Called up share capital

8

3,410

3,390

Retained earnings

302,916

306,130

Shareholders' funds

 

306,326

309,520

For the financial 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 accounts for the year in question in accordance with section 476; and

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 7 March 2024 and signed on its behalf by:
 

.........................................
D Blow
Director

 

Louth and District Indoor Bowling Club Limited

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

1

General information

The company is a private company limited by share capital incorporated in England and Wales and the company registration number is 02333942.

The address of its registered office is:
Birch Road
Louth
Lincolnshire
LN11 8DU

These financial statements were authorised for issue by the Board on 7 March 2024.

These financial statements cover the individual entity, Louth and District Indoor Bowling Club Limited.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The financial statements are prepared in sterling which is the functional currency of the company and have been rounded to the nearest pound.

The financial statements have been prepared in sterling and are rounded to the nearest pound.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold property

2% per annum on cost

Furnishings and equipment

20% on net book value, 33% & 10% per annum on cost

 

Louth and District Indoor Bowling Club Limited

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

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 15 (2022 - 14).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2023

316,070

161,435

477,505

Additions

-

1,459

1,459

At 31 December 2023

316,070

162,894

478,964

Depreciation

At 1 January 2023

195,315

124,690

320,005

Charge for the year

6,321

8,959

15,280

At 31 December 2023

201,636

133,649

335,285

Carrying amount

At 31 December 2023

114,434

29,245

143,679

At 31 December 2022

120,755

36,745

157,500

 

Louth and District Indoor Bowling Club Limited

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

5

Stocks

2023
£

2022
£

Finished goods and goods for resale

4,608

3,557

6

Debtors

Current

2023
£

2022
£

Prepayments

4,722

4,166

Other debtors

742

20

 

5,464

4,186

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

9,218

2,099

Taxation and social security

3,066

1,771

Accruals and deferred income

28,067

26,705

40,351

30,575

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

3,410

3,410

3,390

3,390