LAGAN DRAGONS LIMITED

Company limited by guarantee

Company Registration Number:
NI677470 (Northern Ireland)

Unaudited statutory accounts for the year ended 31 March 2024

Period of accounts

Start date: 1 April 2023

End date: 31 March 2024

LAGAN DRAGONS LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2024

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

LAGAN DRAGONS LIMITED

Directors' report period ended 31 March 2024

The directors present their report with the financial statements of the company for the period ended 31 March 2024

Principal activities of the company

The principle activities of the Company are to provide facilities for and to promote participation in the amateur sport of Dragon Racing in Belfast, in particular to encourage women who have been diagnosed with breast cancer to lead full and active lives.



Directors

The directors shown below have held office during the whole of the period from
1 April 2023 to 31 March 2024

Karen Case
Deidre Fraser
Clare Dornan


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
9 September 2024

And signed on behalf of the board by:
Name: Clare Dornan
Status: Director

LAGAN DRAGONS LIMITED

Profit And Loss Account

for the Period Ended 31 March 2024

2024 2023


£

£
Turnover: 7,485 3,188
Cost of sales: ( 4,318 ) ( 1,332 )
Gross profit(or loss): 3,167 1,856
Distribution costs: 0 0
Administrative expenses: ( 33,166 ) ( 47,756 )
Other operating income: 51,874 30,700
Operating profit(or loss): 21,875 (15,200)
Profit(or loss) before tax: 21,875 (15,200)
Profit(or loss) for the financial year: 21,875 (15,200)

LAGAN DRAGONS LIMITED

Balance sheet

As at 31 March 2024

Notes 2024 2023


£

£
Fixed assets
Intangible assets:   0 0
Tangible assets: 3 31,691 31,174
Investments:   0 0
Total fixed assets: 31,691 31,174
Current assets
Stocks:   0 0
Debtors:   0 0
Cash at bank and in hand: 44,265 22,907
Investments:   0 0
Total current assets: 44,265 22,907
Prepayments and accrued income: 0 0
Creditors: amounts falling due within one year:   0 0
Net current assets (liabilities): 44,265 22,907
Total assets less current liabilities: 75,956 54,081
Creditors: amounts falling due after more than one year:   0 0
Provision for liabilities: 0 0
Accruals and deferred income: 0 0
Total net assets (liabilities): 75,956 54,081
Members' funds
Profit and loss account: 75,956 54,081
Total members' funds: 75,956 54,081

The notes form part of these financial statements

LAGAN DRAGONS LIMITED

Balance sheet statements

For the year ending 31 March 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 9 September 2024
and signed on behalf of the board by:

Name: Clare Dornan
Status: Director

The notes form part of these financial statements

LAGAN DRAGONS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Tangible fixed assets depreciation policy

    Tangible fixed assets are stated at historical cost less accumulated depreciation and any impairment losses. The threshold for capitalisation of items is £2,500. Depreciation is charged on a straight line basis over their estimated useful lives.

    Other accounting policies

    Basis of Accounting Income Expenditure Grants Rent Cash at bank Liabilities and provisions Financial instruments Fund accounting Taxation Cashflow statement

LAGAN DRAGONS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 0 0

LAGAN DRAGONS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 April 2023 44,538 2,235 46,773
Additions 6,020 6,020
Disposals
Revaluations
Transfers
At 31 March 2024 50,558 2,235 52,793
Depreciation
At 1 April 2023 14,165 1,434 15,599
Charge for year 5,056 447 5,503
On disposals
Other adjustments
At 31 March 2024 19,221 1,881 21,102
Net book value
At 31 March 2024 31,337 354 31,691
At 31 March 2023 30,373 801 31,174

LAGAN DRAGONS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

4. Financial Commitments

The club acquired a 50 year lease for its current registered address at 10 Lockview Road, Belfast, BT9 5FJ. Rent for the period to 31 March 2024 has been charged as an expense in the profit and loss account. At 31 March 2024 the company had future minimum lease payments of £47,000 due under non-cancellable operating leases.