Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 12512342 Mr Miles Alden Mrs Ann Ash Mr Hugh Mathew Mr Michael Stone Mr John Woodason Mrs Margaret Woodason Mr Dennis Billson Mr Derek Pitman Mr Paul Fisher Mr Christopher Bussell iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12512342 2022-12-31 12512342 2023-12-31 12512342 2023-01-01 2023-12-31 12512342 frs-core:CurrentFinancialInstruments 2023-12-31 12512342 frs-core:Non-currentFinancialInstruments 2023-12-31 12512342 frs-core:ComputerEquipment 2023-12-31 12512342 frs-core:ComputerEquipment 2023-01-01 2023-12-31 12512342 frs-core:ComputerEquipment 2022-12-31 12512342 frs-core:FurnitureFittings 2023-12-31 12512342 frs-core:FurnitureFittings 2023-01-01 2023-12-31 12512342 frs-core:FurnitureFittings 2022-12-31 12512342 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-12-31 12512342 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 12512342 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-12-31 12512342 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-12-31 12512342 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 12512342 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-12-31 12512342 frs-core:MotorVehicles 2023-12-31 12512342 frs-core:MotorVehicles 2023-01-01 2023-12-31 12512342 frs-core:MotorVehicles 2022-12-31 12512342 frs-core:PlantMachinery 2023-12-31 12512342 frs-core:PlantMachinery 2023-01-01 2023-12-31 12512342 frs-core:PlantMachinery 2022-12-31 12512342 frs-core:OtherReservesSubtotal 2023-12-31 12512342 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 12512342 frs-bus:CompanyLimitedByGuarantee 2023-01-01 2023-12-31 12512342 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 12512342 frs-bus:SmallEntities 2023-01-01 2023-12-31 12512342 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 12512342 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 12512342 frs-bus:Director1 2023-01-01 2023-12-31 12512342 frs-bus:Director2 2023-01-01 2023-12-31 12512342 frs-bus:Director3 2023-01-01 2023-12-31 12512342 frs-bus:Director4 2023-01-01 2023-12-31 12512342 frs-bus:Director5 2023-01-01 2023-12-31 12512342 frs-bus:Director6 2023-01-01 2023-12-31 12512342 frs-bus:Director7 2023-01-01 2023-12-31 12512342 frs-bus:Director8 2023-01-01 2023-12-31 12512342 frs-bus:Director9 2023-01-01 2023-12-31 12512342 frs-bus:Director10 2023-01-01 2023-12-31 12512342 frs-core:CurrentFinancialInstruments 3 2023-12-31 12512342 frs-core:CurrentFinancialInstruments 4 2023-12-31 12512342 frs-core:CurrentFinancialInstruments 5 2023-12-31 12512342 frs-countries:EnglandWales 2023-01-01 2023-12-31 12512342 2021-12-31 12512342 2022-12-31 12512342 2022-01-01 2022-12-31 12512342 frs-core:CurrentFinancialInstruments 2022-12-31 12512342 frs-core:Non-currentFinancialInstruments 2022-12-31 12512342 frs-core:OtherReservesSubtotal 2022-12-31 12512342 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 12512342 frs-core:CurrentFinancialInstruments 3 2022-12-31 12512342 frs-core:CurrentFinancialInstruments 4 2022-12-31 12512342 frs-core:CurrentFinancialInstruments 5 2022-12-31
Registered number: 12512342
The Osborne Club Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 12512342
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 172,016 218,126
Investment Properties 5 6,000 6,000
178,016 224,126
CURRENT ASSETS
Stocks 4,000 4,000
Debtors 6 49,806 17,896
Cash at bank and in hand 1,476,138 1,537,816
1,529,944 1,559,712
Creditors: Amounts Falling Due Within One Year 7 (664,544 ) (738,415 )
NET CURRENT ASSETS (LIABILITIES) 865,400 821,297
TOTAL ASSETS LESS CURRENT LIABILITIES 1,043,416 1,045,423
Creditors: Amounts Falling Due After More Than One Year 8 (234,544 ) (250,613 )
NET ASSETS 808,872 794,810
RESERVES
Other reserves 465,578 465,578
Income and Expenditure Account 343,294 329,232
MEMBERS' FUNDS 808,872 794,810
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Page 2
For the year ending 31 December 2023 the company was entitled to exemption from audit 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income and Expenditure Account.
On behalf of the board
Mr Derek Pitman
Director
17/09/2024
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
The Osborne Club Limited is a private company, limited by guarantee, incorporated in England & Wales, registered number 12512342 . The registered office is House 5 Hesketh Crescent, Torquay, TQ1 2LJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold nil
Leasehold 12.5% straight line
Plant & Machinery 20% straight line
Motor Vehicles 20% straight line
Fixtures & Fittings 20% straight line
Computer Equipment 25% straight line
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the income and expenditure account.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable surplus for the year. Taxable surplus differs from surplus as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable surplus. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable surplus will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable surplus will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in surplus or deficit, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was 44 (2022: 35)
44 35
4. Tangible Assets
Land & Property
Freehold Leasehold Plant & Machinery Motor Vehicles
£ £ £ £
Cost
As at 1 January 2023 426 142,308 90,512 11,333
As at 31 December 2023 426 142,308 90,512 11,333
Depreciation
As at 1 January 2023 - 32,020 36,204 2,267
Provided during the period - 14,231 18,103 1,813
As at 31 December 2023 - 46,251 54,307 4,080
Net Book Value
As at 31 December 2023 426 96,057 36,205 7,253
As at 1 January 2023 426 110,288 54,308 9,066
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Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 January 2023 60,000 1 304,580
As at 31 December 2023 60,000 1 304,580
Depreciation
As at 1 January 2023 15,963 - 86,454
Provided during the period 11,963 - 46,110
As at 31 December 2023 27,926 - 132,564
Net Book Value
As at 31 December 2023 32,074 1 172,016
As at 1 January 2023 44,037 1 218,126
5. Investment Property
2023
£
Fair Value
As at 1 January 2023 and 31 December 2023 6,000
6. Debtors
2023 2022
£ £
Due within one year
Prepayments and accrued income 29,991 7,152
Corporation tax recoverable assets - 9,260
VAT 19,815 1,484
49,806 17,896
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 4,246 64,033
Other taxes and social security 7,138 10,779
Membership 3 sales - deferred income 13,283 8,225
Membership 5 sales - deferred income 144,231 139,133
Deposits in advance from members 336,273 331,451
Accruals and deferred income 159,373 184,794
664,544 738,415
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8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Accruals and deferred income 234,544 250,613
234,544 250,613
9. Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
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