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Financial Statements |
Contents |
Page |
Members' report |
1 |
Statement of comprehensive income |
3 |
Statement of financial position |
4 |
Reconciliation of members' interests |
6 |
Notes to the financial statements |
8 |
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Members' Report |
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Registered office: |
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Statement of Comprehensive Income |
2023 |
2022 |
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Note |
£ |
£ |
Turnover |
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Fair value adjustment investment property |
(
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(
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Other operating expenses |
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--------- |
--------- |
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Operating profit |
4 |
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Interest payable and similar expenses |
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--------- |
--------- |
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(Loss)/profit for the financial year before members' remuneration and profit shares available for discretionary division among members |
(56,317) |
610,833 |
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--------- |
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Statement of Financial Position |
2023 |
2022 |
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Note |
£ |
£ |
Tangible assets |
5 |
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Debtors |
6 |
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Cash at bank and in hand |
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--------- |
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Creditors: amounts falling due within one year |
7 |
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--------- |
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Net current assets |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
8 |
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Net assets |
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Other amounts |
10 |
– |
12,552 |
Members' capital classified as equity |
6,443,147 |
5,005,957 |
Other reserves |
444,750 |
448,633 |
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6,887,897 |
5,467,142 |
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Loans and other debts due to members |
10 |
– |
12,552 |
Members' other interests |
6,887,897 |
5,454,590 |
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6,887,897 |
5,467,142 |
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Statement of Financial Position (continued) |
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Reconciliation of Members' Interests |
Members' other interests |
Loans and other debts due to members less any amounts due from members in debtors |
Total members' interests |
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Members' capital (classified as equity) |
Other reserves |
Total |
Other amounts |
Total |
Total 2023 |
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£ |
£ |
£ |
£ |
£ |
£ |
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Balance at 1 January 2023 |
5,005,957 |
448,633 |
5,454,590 |
12,552 |
12,552 |
5,467,142 |
Loss for the financial year available for discretionary division among members |
(56,317) |
(56,317) |
(56,317) |
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-------- |
-------- |
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Members' interests after loss for the year |
5,005,957 |
392,316 |
5,398,273 |
12,552 |
12,552 |
5,410,825 |
Other division of profits |
52,434 |
52,434 |
(52,434) |
(52,434) |
– |
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Introduced by members |
1,477,071 |
1,477,071 |
– |
– |
1,477,071 |
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Reclassifications |
(39,881) |
– |
(39,881) |
39,882 |
39,882 |
1 |
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Balance at 31 December 2023 |
6,443,147 |
444,750 |
6,887,897 |
– |
– |
6,887,897 |
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Reconciliation of Members' Interests (continued) |
Members' other interests |
Loans and other debts due to members less any amounts due from members in debtors |
Total members' interests |
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Members' capital (classified as equity) |
Other reserves |
Total |
Other amounts |
Total |
Total 2022 |
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£ |
£ |
£ |
£ |
£ |
£ |
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Balance at 1 January 2022 |
3,562,451 |
(197,906) |
3,364,545 |
42,045 |
42,045 |
3,406,590 |
Profit for the financial year available for discretionary division among members |
610,833 |
610,833 |
610,833 |
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Members' interests after profit for the year |
3,562,451 |
412,927 |
3,975,378 |
42,045 |
42,045 |
4,017,423 |
Other division of profits |
35,706 |
35,706 |
(35,706) |
(35,706) |
– |
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Introduced by members |
1,449,719 |
1,449,719 |
– |
– |
1,449,719 |
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Reclassifications |
(6,213) |
– |
(6,213) |
6,213 |
6,213 |
– |
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Balance at 31 December 2022 |
5,005,957 |
448,633 |
5,454,590 |
12,552 |
12,552 |
5,467,142 |
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Notes to the Financial Statements |
1. |
General information |
2. |
Statement of compliance |
3. |
Accounting policies |
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Notes to the Financial Statements (continued) |
4. |
Operating profit |
2023 |
2022 |
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£ |
£ |
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Fair value adjustments to investment property |
(
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(
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--------- |
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5. |
Tangible assets |
Freehold property |
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£ |
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Cost or valuation |
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At 1 January 2023 |
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Additions |
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Revaluations |
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At 31 December 2023 |
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Depreciation |
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At 1 January 2023 and 31 December 2023 |
– |
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Carrying amount |
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At 31 December 2023 |
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At 31 December 2022 |
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Freehold property |
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£ |
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At 31 December 2023 |
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Aggregate cost |
8,547,484 |
Aggregate depreciation |
– |
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Carrying value |
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At 31 December 2022 |
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Aggregate cost |
7,801,367 |
Aggregate depreciation |
– |
------------ |
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Carrying value |
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6. |
Debtors |
2023 |
2022 |
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£ |
£ |
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Trade debtors |
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Other debtors |
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--------- |
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2023 |
2022 |
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£ |
£ |
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Bank loans and overdrafts |
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– |
Trade creditors |
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Social security and other taxes |
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– |
Other creditors |
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--------- |
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--------- |
--------- |
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2023 |
2022 |
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£ |
£ |
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Bank loans and overdrafts |
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9. |
Financial instruments |
10. |
Loans and other debts due to members |
2023 |
2022 |
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£ |
£ |
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Amounts owed to members in respect of profits |
– |
12,552 |
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-------- |
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11. |
Charges on assets |