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Company Registration No. 00071512 (England and Wales)
The East Finchley Constitutional Club Limited Unaudited accounts for the year ended 31 October 2023
The East Finchley Constitutional Club Limited Unaudited accounts Contents
Page
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The East Finchley Constitutional Club Limited Statement of financial position as at 31 October 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
72,329 
73,574 
Current assets
Inventories
4,781 
6,220 
Cash at bank and in hand
24,205 
35,614 
28,986 
41,834 
Creditors: amounts falling due within one year
(11,128)
(18,810)
Net current assets
17,858 
23,024 
Total assets less current liabilities
90,187 
96,598 
Creditors: amounts falling due after more than one year
(924)
(4,358)
Provisions for liabilities
Deferred tax
(3,438)
(3,230)
Net assets
85,825 
89,010 
Capital and reserves
Called up share capital
420 
420 
Profit and loss account
85,405 
88,590 
Shareholders' funds
85,825 
89,010 
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 11 July 2024 and were signed on its behalf by
Michael Harvey Director Company Registration No. 00071512
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The East Finchley Constitutional Club Limited Notes to the Accounts for the year ended 31 October 2023
1
Statutory information
The East Finchley Constitutional Club Limited is a private company, limited by shares, registered in England and Wales, registration number 00071512. The registered office is THE CHESTNUTS THE WALKS, EAST FINCHLEY, LONDON, N2 8DE, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. The company's freehold land and buildings are stated at cost rather than a fair value which is not in accordance with FRS 102 Section 16.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets. The company's freehold land and buildings which are partly used in the ordinary course of business, are stated at cost less depreciation as its fair value cannot be measured reliably without undue cost or effort.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents amounts receivable from the sale of refreshments, tobacco, drinks and so on, excluding value added tax.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
1% on cost
Fixtures & fittings
15% on reducing balance
Computer equipment
33.3% on cost
Inventories
Inventories are stated at the lower of cost and net realisable value. Provision is made for obsolete, slow moving or defective items where appropriate.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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The East Finchley Constitutional Club Limited Notes to the Accounts for the year ended 31 October 2023
4
Tangible fixed assets
Land & buildings 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 November 2022
106,197 
89,136 
2,721 
198,054 
Additions
- 
1,197 
- 
1,197 
At 31 October 2023
106,197 
90,333 
2,721 
199,251 
Depreciation
At 1 November 2022
40,623 
81,136 
2,721 
124,480 
Charge for the year
1,062 
1,380 
- 
2,442 
At 31 October 2023
41,685 
82,516 
2,721 
126,922 
Net book value
At 31 October 2023
64,512 
7,817 
- 
72,329 
At 31 October 2022
65,574 
8,000 
- 
73,574 
5
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
3,837 
3,837 
Trade creditors
3,027 
14,002 
Taxes and social security
3,021 
276 
Other creditors
1,243 
695 
11,128 
18,810 
6
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
924 
4,358 
7
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
420 Ordinary shares of £1 each
420 
420 
8
Transactions with related parties
The director, Mr Michael Harvey received a salary during the year as a part-time bar and administration staff in the sum of £10,959 (2022: £9,740). This amount is included in wages and salaries. The director, Mr David Gardner received a salary during the year as a part-time administration staff in the sum of £13,554 (2022: £12,102). This amount is included in wages and salaries.
9
Average number of employees
During the year the average number of employees was 4 (2022: 5).
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