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REGISTERED NUMBER: 01106134 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 December 2023

for

The Alfa Romeo Owners Club Limited

The Alfa Romeo Owners Club Limited (Registered number: 01106134)

Contents of the Financial Statements
for the Year Ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


The Alfa Romeo Owners Club Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mr P J Farquhar
Mr J H Griffiths
Mr R G W Murtha
Mr J Timms
Mr P Jones
Mr G Richardson
Mr J Griffin
Mrs K Hodson





SECRETARY: Mr P J Farquhar





REGISTERED OFFICE: 8 Ickworth Court
Felixstowe
Suffolk
IP11 2XL





REGISTERED NUMBER: 01106134 (England and Wales)





ACCOUNTANTS: R T Marke & Co Ltd
Chartered Accountants
69 High Street
Bideford
Devon
EX39 2AT

The Alfa Romeo Owners Club Limited (Registered number: 01106134)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 31,002 33,751

CURRENT ASSETS
Stocks 29,185 31,548
Debtors 6 6,056 14,196
Cash at bank 148,549 161,546
183,790 207,290
CREDITORS
Amounts falling due within one year 7 26,503 41,140
NET CURRENT ASSETS 157,287 166,150
TOTAL ASSETS LESS CURRENT
LIABILITIES

188,289

199,901

RESERVES
Revaluation reserve 8 5,530 5,643
Income and expenditure account 182,759 194,258
188,289 199,901

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 surplus or deficit 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 Alfa Romeo Owners Club Limited (Registered number: 01106134)

Balance Sheet - continued
31 December 2023


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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 August 2024 and were signed on its behalf by:




Mr J Timms - Director



Mr J H Griffiths - Director


The Alfa Romeo Owners Club Limited (Registered number: 01106134)

Notes to the Financial Statements
for the Year Ended 31 December 2023


1. STATUTORY INFORMATION

The Alfa Romeo Owners 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. STATEMENT OF COMPLIANCE

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. There were no material departures from that standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The principal accounting policies adopted in the preparation of the financial statements are set out below and remain unchanged from the previous period, and also have been consistently applied within the same accounts.

Income
Income is measured at the fair value, excluding discounts, rebates, value added tax and other sales taxes, of membership subscriptions, commissions and the sale of goods and other services to club members received or receivable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Office equipment - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Trophies and archives - 20% on reducing balance and 2% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management.

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items.

Financial instruments
Basic financial instruments 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 profit and loss account in administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs.


The Alfa Romeo Owners Club Limited (Registered number: 01106134)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


3. ACCOUNTING POLICIES - continued
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.

Going concern
Having regard to the company's anticipated future revenues and costs including repayment of debt where appropriate, together with the expected availability of working capital, the directors consider that it is appropriate to prepare the financial statements on the going concern basis.

4. EMPLOYEES AND DIRECTORS

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

5. TANGIBLE FIXED ASSETS
Trophies
Plant and Office Motor and
machinery equipment vehicles archives Totals
£    £    £    £    £   
COST OR VALUATION
At 1 January 2023 4,373 1,116 31,635 7,537 44,661
Additions 3,740 - - - 3,740
At 31 December 2023 8,113 1,116 31,635 7,537 48,401
DEPRECIATION
At 1 January 2023 2,294 402 6,327 1,887 10,910
Charge for year 1,171 143 5,062 113 6,489
At 31 December 2023 3,465 545 11,389 2,000 17,399
NET BOOK VALUE
At 31 December 2023 4,648 571 20,246 5,537 31,002
At 31 December 2022 2,079 714 25,308 5,650 33,751

The Alfa Romeo Owners Club Limited (Registered number: 01106134)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


5. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 December 2023 is represented by:

Trophies
Plant and Office Motor and
machinery equipment vehicles archives Totals
£    £    £    £    £   
Valuation in 2015 - - - 6,352 6,352
Cost 8,113 1,116 31,635 1,185 42,049
8,113 1,116 31,635 7,537 48,401

If trophies and archives had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 1,185 1,185
Aggregate depreciation 1,178 1,178

The valuation of trophies and archives was made on 1 January 2015 at an open market value.

The company has taken advantage of the transitional provisions available on the introduction of FRS 102 to carry those assets at the value less depreciation in subsequent years. Subsequent additions to trophies and archives are included at cost.


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 3,942 4,650
VAT 893 8,211
Prepayments and accrued income 1,221 1,335
6,056 14,196

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 20,625 35,151
Corporation tax 455 155
Other creditors 94 268
Accruals and deferred income 5,329 5,566
26,503 41,140

The Alfa Romeo Owners Club Limited (Registered number: 01106134)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


8. RESERVES
Revaluation
reserve
£   
At 1 January 2023 5,643
Transfers between reserves (113 )

At 31 December 2023 5,530

9. LIMITED BY GUARANTEE

The Alfa Romeo Owners Club Ltd is a company limited by guarantee and accordingly does not have a share capital. At 31 December 2023 the total number of members was 4,409 (2022 - 4,347).

Every member of the company undertakes to contribute such amount as may be required not exceeding £1 to the assets of the company in the event of its being wound up while he or she is a member, or within one year after he or she ceases to be a member.

10. FUNDS BALANCE

At the balance sheet date the company held £12,940 (2022 - £12,311) relating to individual section funds.