Lullington Development Society 09972005 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is the ownership of land and buildings on which sport and recreational activities are carried out under the management of the Woodside Park Club Ltd. Digita Accounts Production Advanced 6.30.9574.0 true true 09972005 2023-02-01 2024-01-31 09972005 2024-01-31 09972005 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 09972005 core:Non-currentFinancialInstruments 2024-01-31 09972005 core:Non-currentFinancialInstruments core:AfterOneYear 2024-01-31 09972005 core:LandBuildings 2024-01-31 09972005 bus:SmallEntities 2023-02-01 2024-01-31 09972005 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 09972005 bus:FullAccounts 2023-02-01 2024-01-31 09972005 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 09972005 bus:Director4 2023-02-01 2024-01-31 09972005 bus:CompanyLimitedByGuarantee 2023-02-01 2024-01-31 09972005 countries:EnglandWales 2023-02-01 2024-01-31 09972005 2023-01-31 09972005 core:LandBuildings 2023-01-31 09972005 2022-02-01 2023-01-31 09972005 2023-01-31 09972005 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 09972005 core:Non-currentFinancialInstruments 2023-01-31 09972005 core:Non-currentFinancialInstruments core:AfterOneYear 2023-01-31 09972005 core:LandBuildings 2023-01-31 iso4217:GBP xbrli:pure

Registration number: 09972005

Lullington Development Society

(A company limited by guarantee)

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

Lullington Development Society

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 4

 

Lullington Development Society

(Registration number: 09972005)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

11,294

11,294

Current assets

 

Cash at bank and in hand

 

200

200

Creditors: Amounts falling due within one year

5

(8,320)

(6,708)

Net current liabilities

 

(8,120)

(6,508)

Total assets less current liabilities

 

3,174

4,786

Creditors: Amounts falling due after more than one year

5

(7,000)

(7,000)

Net liabilities

 

(3,826)

(2,214)

Reserves

 

Other reserves

16,208

16,208

Retained earnings

(20,034)

(18,422)

Deficit

 

(3,826)

(2,214)

For the financial year ending 31 January 2024 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 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 2 August 2024 and signed on its behalf by:
 

.........................................
Mr Joseph Ian McGillivray
Director

 

Lullington Development Society

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

These financial statements were authorised for issue by the Board on 2 August 2024.

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 accounts are prepared in the company's functional currency of British Pounds (£) and rounded to the nearest £1.

Going concern

The financial statements have been prepared on a going concern basis.

Tangible assets

Tangible assets are stated in the balance sheet 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.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Debtors with no stated interest rate and receivable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Trade creditors

Creditors with no stated interest rate and payables within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

 

Lullington Development Society

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

The company is incorporated as a private limited company without share capital, and limited by guarantee,

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2023 - 5).

4

Tangible assets

Land and buildings
£

Total
£

Cost

At 1 February 2023

11,294

11,294

At 31 January 2024

11,294

11,294

Carrying amount

At 31 January 2024

11,294

11,294

At 31 January 2023

11,294

11,294

Included within the net book value of land and buildings above is £11,294 (2023 - £11,294) in respect of freehold land and buildings.
 

 

Lullington Development Society

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

5

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Accruals and deferred income

1,600

1,498

Other creditors

6,720

5,210

8,320

6,708

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

6

7,000

7,000

Other Reserves

Other Reserves includes balances which have been transferred from the previous entity "Lullington Development Society" (an unincorporated association).

6

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Other borrowings

7,000

7,000


Company Status

The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of a liquidation.