GARSTON MASONIC HALL LIMITED |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023 |
GARSTON MASONIC HALL LIMITED |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023 |
GARSTON MASONIC HALL LIMITED (REGISTERED NUMBER: 00185336) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31st December 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
GARSTON MASONIC HALL LIMITED |
COMPANY INFORMATION |
for the Year Ended 31st December 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Liverpool Road Studios |
Suites 3 & 4 |
113 Liverpool Road |
Crosby |
Merseyside |
L23 5TD |
GARSTON MASONIC HALL LIMITED (REGISTERED NUMBER: 00185336) |
BALANCE SHEET |
31st December 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve | 7 |
Other reserves |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS |
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. |
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 |
GARSTON MASONIC HALL LIMITED (REGISTERED NUMBER: 00185336) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31st December 2023 |
1. | STATUTORY INFORMATION |
Garston Masonic Hall Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is derived from the company's ordinary activities. |
Tangible fixed assets |
Freehold property | - |
Fixtures and fittings | - |
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 balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
GARSTON MASONIC HALL LIMITED (REGISTERED NUMBER: 00185336) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31st December 2023 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | and |
property | fittings | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1st January 2023 |
and 31st December 2023 |
DEPRECIATION |
At 1st January 2023 |
Charge for year |
At 31st December 2023 |
NET BOOK VALUE |
At 31st December 2023 |
At 31st December 2022 |
Cost or valuation at 31st December 2023 is represented by: |
Fixtures |
Freehold | and |
property | fittings | Totals |
£ | £ | £ |
Valuation in 2002 | 116,103 | - | 116,103 |
Cost | 56,938 | 35,943 | 92,881 |
173,041 | 35,943 | 208,984 |
If freehold property had not been revalued it would have been included at the following historical cost: |
2023 | 2022 |
£ | £ |
Cost | 56,938 | 56,938 |
Aggregate depreciation | 31,789 | 31,789 |
Freehold property was valued on an open market basis on 31st December 2016 by the directors . |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Taxation and social security |
Other creditors |
GARSTON MASONIC HALL LIMITED (REGISTERED NUMBER: 00185336) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31st December 2023 |
7. | RESERVES |
Revaluation |
reserve |
£ |
At 1st January 2023 |
Transfer excess depreciation | (2,322 | ) |
At 31st December 2023 |
8. | CONTINGENT LIABILITIES |
In the event of the freehold property being sold at its revalued amount there is a potential liability to capital gains tax. |
In order to compute the liability, if any, it would be necessary to agree the valuation of property at March 1982 with the Inland Revenue. In the opinion of the directors no capital gains tax liability will arise. |
9. | RELATED PARTY DISCLOSURES |
Included in other debtors is a loan account with Liverpool South Masonic Club, which is a related party due to all the directors of Garston Masonic Hall Limited as listed in the directors report, being members of Liverpool South Masonic Club. The amount due to Garston Masonic Hall Limited from Liverpool South Masonic Club at the year end was £2,670 (2022 £2,670). |
No interest is due on this loan and no provision against the balance is necessary. |