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REGISTERED NUMBER: 00255864 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024

FOR

LONDON GLIDING CLUB PROPRIETARY LIMITED

LONDON GLIDING CLUB PROPRIETARY LIMITED (REGISTERED NUMBER: 00255864)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 January 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4

Chartered Certified Accountants' Report 7

LONDON GLIDING CLUB PROPRIETARY LIMITED

COMPANY INFORMATION
for the Year Ended 31 January 2024







DIRECTORS: M Burton
A Zuchora
A Hippel
M Newland - Smith
W T Craig
Dr D R Stern
L R Roberts
B L Hudson
T P Jenkinson
R N John





SECRETARY: M D Peters





REGISTERED OFFICE: The Clubhouse
Dunstable Downs
Bedfordshire
LU6 2JP





REGISTERED NUMBER: 00255864 (England and Wales)





ACCOUNTANTS: S R Lynn & Co
Chartered Certified Accountants
6 Partridge Lane
Bromham
Bedford
Bedfordshire
MK43 8PQ

LONDON GLIDING CLUB PROPRIETARY LIMITED (REGISTERED NUMBER: 00255864)

ABRIDGED BALANCE SHEET
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 301,658 317,329
Investments 5 25 25
301,683 317,354

CURRENT ASSETS
Debtors 8 8
Investments 32,000 32,000
Cash at bank 482,609 401,755
514,617 433,763
CREDITORS
Amounts falling due within one year 138,643 118,206
NET CURRENT ASSETS 375,974 315,557
TOTAL ASSETS LESS CURRENT
LIABILITIES

677,657

632,911

CAPITAL AND RESERVES
Called up share capital 6 8 8
Revaluation reserve 7 28,108 28,108
Retained earnings 649,541 604,795
SHAREHOLDERS' FUNDS 677,657 632,911

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

LONDON GLIDING CLUB PROPRIETARY LIMITED (REGISTERED NUMBER: 00255864)

ABRIDGED BALANCE SHEET - continued
31 January 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 January 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 6 July 2024 and were signed on its behalf by:




M Burton - Director



M Newland - Smith - Director


LONDON GLIDING CLUB PROPRIETARY LIMITED (REGISTERED NUMBER: 00255864)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

London Gliding Club Proprietary Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 as modified by the revaluation of certain assets.

Tangible fixed assets
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Depreciation of Land and Buildings Over 33.33 years
Other assets Over periods of 3 to 20 years

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

Currency
The financial statements are prepared in GBP £.

Subvention
A subvention from London Sailplanes Limited equivalent to that Company's net profit for the year after taxation has been approved by the directors' of both companies.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

LONDON GLIDING CLUB PROPRIETARY LIMITED (REGISTERED NUMBER: 00255864)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 January 2024

4. TANGIBLE FIXED ASSETS
Totals
£   
COST OR VALUATION
At 1 February 2023 1,403,898
Additions 45,914
Disposals (55,568 )
At 31 January 2024 1,394,244
DEPRECIATION
At 1 February 2023 1,086,569
Charge for year 49,490
Eliminated on disposal (43,473 )
At 31 January 2024 1,092,586
NET BOOK VALUE
At 31 January 2024 301,658
At 31 January 2023 317,329

The directors have agreed not to adopt a policy of revaluation in the future.

5. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 February 2023
and 31 January 2024 25
NET BOOK VALUE
At 31 January 2024 25
At 31 January 2023 25

Information on investments other than loans is as follows:

The company owns 25 of the 30 issued shares of London Sailplanes Limited. The accounts of London Sailplanes Limited show a nil profit after subventions.

6. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 31.1.24 31.1.23
value: £    £   
8 Share capital 1 £1 8 8

LONDON GLIDING CLUB PROPRIETARY LIMITED (REGISTERED NUMBER: 00255864)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 January 2024

7. RESERVES
Revaluation
reserve
£   
At 1 February 2023
and 31 January 2024 28,108

8. RELATED PARTY DISCLOSURES

Amounts owed to Subsidiary £129,208 (2023: £110,151)

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
LONDON GLIDING CLUB PROPRIETARY LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of London Gliding Club Proprietary Limited for the year ended 31 January 2024 which comprise the Income Statement, Abridged Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of London Gliding Club Proprietary Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of London Gliding Club Proprietary Limited and state those matters that we have agreed to state to the Board of Directors of London Gliding Club Proprietary Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that London Gliding Club Proprietary Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of London Gliding Club Proprietary Limited. You consider that London Gliding Club Proprietary Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of London Gliding Club Proprietary Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






S R Lynn & Co
Chartered Certified Accountants
6 Partridge Lane
Bromham
Bedford
Bedfordshire
MK43 8PQ


6 July 2024