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COMPANY REGISTRATION NUMBER: 13517203
HUDDERSFIELD LAUND HILL COMMUNITY CLUB
Company Limited by Guarantee
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 July 2023
HUDDERSFIELD LAUND HILL COMMUNITY CLUB
COMPANY LIMITED BY GUARANTEE
FINANCIAL STATEMENTS
YEAR ENDED 31 JULY 2023
Contents
Pages
Balance sheet 1 to 2
Notes to the financial statements 3 to 6
HUDDERSFIELD LAUND HILL COMMUNITY CLUB
COMPANY LIMITED BY GUARANTEE
BALANCE SHEET
31 July 2023
2023
2022
Note
£
£
Fixed assets
Intangible assets
6
21,850
23,000
Tangible assets
7
4,320
3,399
------------
------------
26,170
26,399
Current assets
Stocks
8
4,149
6,834
Debtors
9
20,016
22,502
Cash at bank and in hand
49,623
68,641
------------
------------
73,788
97,977
Creditors: amounts falling due within one year
10
( 50,974)
( 77,667)
------------
------------
Net current assets
22,814
20,310
------------
------------
Total assets less current liabilities
48,984
46,709
------------
------------
Net assets
48,984
46,709
------------
------------
Capital and reserves
Profit and loss account
48,984
46,709
------------
------------
Members funds
48,984
46,709
------------
------------
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 profit and loss account 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.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
HUDDERSFIELD LAUND HILL COMMUNITY CLUB
COMPANY LIMITED BY GUARANTEE
BALANCE SHEET (continued)
31 July 2023
These financial statements were approved by the board of directors and authorised for issue on 24 April 2024 , and are signed on behalf of the board by:
Mr R B A Spychalski
Director
Company registration number: 13517203
HUDDERSFIELD LAUND HILL COMMUNITY CLUB
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 JULY 2023
1. General information
The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is Laund Hill Community Club, New Hey Road, Salendine Nook, Huddersfield, West Yorkshire, HD3 3XF.
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 for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
5% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
20% straight line
Fixtures and fittings
-
15% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
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
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Company limited by guarantee
The company is limited by guarantee to the extent that the liability of each member is limited to £1.
5. Employee numbers
The average number of persons employed by the company during the year amounted to 11 (2022: 12 ).
6. Intangible assets
Goodwill
£
Cost
At 1 August 2022 and 31 July 2023
23,000
------------
Amortisation
Charge for the year
1,150
------------
At 31 July 2023
1,150
------------
Carrying amount
At 31 July 2023
21,850
------------
At 31 July 2022
23,000
------------
7. Tangible assets
Plant and machinery
Fixtures and fittings
Total
£
£
£
Cost
At 1 August 2022
3,998
3,998
Additions
2,000
2,000
------------
------------
------------
At 31 July 2023
2,000
3,998
5,998
------------
------------
------------
Depreciation
At 1 August 2022
599
599
Charge for the year
400
679
1,079
------------
------------
------------
At 31 July 2023
400
1,278
1,678
------------
------------
------------
Carrying amount
At 31 July 2023
1,600
2,720
4,320
------------
------------
------------
At 31 July 2022
3,399
3,399
------------
------------
------------
8. Stocks
2023
2022
£
£
Finished goods and goods for resale
4,149
6,834
------------
------------
9. Debtors
2023
2022
£
£
Trade debtors
9,955
5,890
Prepayments and accrued income
10,059
14,174
Other debtors
2
2,438
------------
------------
20,016
22,502
------------
------------
10. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
16,090
18,698
Accruals and deferred income
6,902
28,654
Social security and other taxes
4,576
1,224
Other creditors
23,406
29,091
------------
------------
50,974
77,667
------------
------------
11. Control
There is no one controlling party of the company.