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REGISTERED NUMBER: 01460140 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

NORTHAMPTON MOTOR CYCLISTS CLUB LIMITED

NORTHAMPTON MOTOR CYCLISTS CLUB LIMITED (REGISTERED NUMBER: 01460140)

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










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


NORTHAMPTON MOTOR CYCLISTS CLUB LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: J O A Hunt
F W T Law





SECRETARY: J O A Hunt





REGISTERED OFFICE: Eagle House
28 Billing Road
Northampton
Northamptonshire
NN1 5AJ





REGISTERED NUMBER: 01460140 (England and Wales)





ACCOUNTANTS: Shaw Gibbs Limited
Eagle House
28 Billing Road
Northampton
NN1 5AJ

NORTHAMPTON MOTOR CYCLISTS CLUB LIMITED (REGISTERED NUMBER: 01460140)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 18,519 18,880

CURRENT ASSETS
Debtors 5 2,042 6,560
Cash at bank 22,915 27,873
24,957 34,433
CREDITORS
Amounts falling due within one year 6 1,767 9,986
NET CURRENT ASSETS 23,190 24,447
TOTAL ASSETS LESS CURRENT
LIABILITIES

41,709

43,327

RESERVES
Revaluation reserve 7 16,789 16,789
Retained earnings 7 24,920 26,538
41,709 43,327

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

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

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 24 June 2024 and were signed on its behalf by:



J O A Hunt - Director



F W T Law - Director


NORTHAMPTON MOTOR CYCLISTS CLUB LIMITED (REGISTERED NUMBER: 01460140)

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


1. STATUTORY INFORMATION

Northampton Motor Cyclists Club Limited is a private company, limited by guarantee , 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the company accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed within the individual accounting policies below.

Turnover
The turnover shown in the income and expenditure account represents amounts receivable during the year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Scrambles equipment - 20% on reducing balance
Computer equipment - 33% on cost

Cups and trophies are held as an investment and in the opinion of the Committee should not be depreciated.

Fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Where parts of an item of property, plant and equipment have different useful lives, they are accounted for as separate items of property, plant and equipment.

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.

NORTHAMPTON MOTOR CYCLISTS CLUB LIMITED (REGISTERED NUMBER: 01460140)

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


2. ACCOUNTING POLICIES - continued

Financial instruments
Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of comprehensive income under administrative expenses.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Cups and Scrambles Computer
trophies equipment equipment Totals
£    £    £    £   
COST
At 1 January 2023 17,685 9,298 128 27,111
Disposals - (634 ) - (634 )
At 31 December 2023 17,685 8,664 128 26,477
DEPRECIATION
At 1 January 2023 - 8,213 18 8,231
Charge for year - 187 42 229
Eliminated on disposal - (502 ) - (502 )
At 31 December 2023 - 7,898 60 7,958
NET BOOK VALUE
At 31 December 2023 17,685 766 68 18,519
At 31 December 2022 17,685 1,085 110 18,880

NORTHAMPTON MOTOR CYCLISTS CLUB LIMITED (REGISTERED NUMBER: 01460140)

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


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 1,500 -
Tax 317 -
Prepayments and accrued income 225 6,560
2,042 6,560

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors - 7,292
Tax - 1,045
Accruals and deferred income 1,767 1,649
1,767 9,986

7. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 January 2023 26,538 16,789 43,327
Deficit for the year (1,618 ) (1,618 )
At 31 December 2023 24,920 16,789 41,709

8. RELATED PARTY DISCLOSURES

The company was under the control of its committee members who are listed on page 2 of this report.

9. COMPANY LIMITED BY GUARANTEE

The company is limited by guarantee and does not have share capital. The liability of each member is limited to £1. As at the year end there were 132 members.