Company registration number 01946716 (England and Wales)
The Southwood Club Limited
UNAUDITED FINANCIAL STATEMENTS
for the year ended 30 April 2024
PAGES FOR FILING WITH REGISTRAR
The Southwood Club Limited
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
The Southwood Club Limited
Balance sheet
as at 30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
624,376
624,901
Investments
4
558,047
550,272
1,182,423
1,175,173
Current assets
Stocks
4,176
5,735
Debtors
10,383
10,940
Cash at bank and in hand
44,514
18,144
59,073
34,819
Creditors: amounts falling due within one year
(56,346)
(28,458)
Net current assets
2,727
6,361
Net assets
1,185,150
1,181,534
Reserves
Income and expenditure account
6
1,185,150
1,181,534
Members' funds
1,185,150
1,181,534
The Southwood Club Limited
Balance sheet (continued)
as at 30 April 2024
- 2 -
In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true
For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 14 August 2024 and are signed on its behalf by:
R A Bottomley
Director
Company Registration No. 01946716
The Southwood Club Limited
Notes to the financial statements
for the year ended 30 April 2024
- 3 -
1
Accounting policies
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention.The principal accounting policies adopted are set out below.
The financial statements are prepared in sterling, which is the functional currency of the company.
Income and expenditure
Income and expenses are included in the financial statements as they become receivable or due.
Expenses include VAT where applicable as the company cannot reclaim it.
Research and development expenditure
Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land and buildings Freehold
Not depreciated
Fixtures, fittings & equipment
10% per annum on a reducing balance basis
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to surplus or deficit.
Stocks
Stock is valued at the lower of cost and net realiable value.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
The Southwood Club Limited
Notes to the financial statements (continued)
for the year ended 30 April 2024
- 4 -
2
Employees
The average monthly number of persons employed by the company during the year was:
2024
2023
Number
Number
9
7
3
Tangible fixed assets
Land and buildings Freehold
Fixtures, fittings & equipment
Total
£
£
£
Cost
At 1 May 2023
572,564
221,210
793,774
Additions
5,000
5,000
At 30 April 2024
572,564
226,210
798,774
Depreciation and impairment
At 1 May 2023
168,873
168,873
Depreciation charged in the year
5,525
5,525
At 30 April 2024
174,398
174,398
Carrying amount
At 30 April 2024
572,564
51,812
624,376
At 30 April 2023
572,564
52,337
624,901
4
Fixed asset investments
2024
2023
£
£
Other investments other than loans
558,047
550,272
The Southwood Club Limited
Notes to the financial statements (continued)
for the year ended 30 April 2024
4
Fixed asset investments
(continued)
- 5 -
Movements in fixed asset investments
Other
£
Cost or valuation
At 1 May 2023
550,272
Valuation changes
37,775
Withdrawals
(30,000)
At 30 April 2024
558,047
Carrying amount
At 30 April 2024
558,047
At 30 April 2023
550,272
5
Members' liability
The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.
6
Income and expenditure account
2024
2023
£
£
At the beginning of the year
1,181,534
1,246,597
At the beginning of the year
1,181,534
1,246,597
Surplus/(deficit) for the year
3,616
(65,063)
At the end of the year
1,185,150
1,181,534
7
Company information
The Southwood Club Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Southwood, Birdcage Lane, Halifax, HX3 0JQ.