Caseware UK (AP4) 2023.0.135 2023.0.135 falsefalse2023-01-01No description of principal activity22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 00109150 2023-01-01 2023-12-31 00109150 2022-01-01 2022-12-31 00109150 2023-12-31 00109150 2022-12-31 00109150 2022-01-01 00109150 1 2023-01-01 2023-12-31 00109150 1 2022-01-01 2022-12-31 00109150 2 2023-01-01 2023-12-31 00109150 2 2022-01-01 2022-12-31 00109150 d:Director2 2023-01-01 2023-12-31 00109150 e:FurnitureFittings 2023-01-01 2023-12-31 00109150 e:FurnitureFittings 2023-12-31 00109150 e:FurnitureFittings 2022-12-31 00109150 e:CurrentFinancialInstruments 2023-12-31 00109150 e:CurrentFinancialInstruments 2022-12-31 00109150 e:CurrentFinancialInstruments e:WithinOneYear 2023-12-31 00109150 e:CurrentFinancialInstruments e:WithinOneYear 2022-12-31 00109150 e:ReportableOperatingSegment1 2023-01-01 2023-12-31 00109150 e:ReportableOperatingSegment1 2022-01-01 2022-12-31 00109150 e:ReportableOperatingSegment2 2023-01-01 2023-12-31 00109150 e:ReportableOperatingSegment2 2022-01-01 2022-12-31 00109150 e:ReportableOperatingSegment3 2023-01-01 2023-12-31 00109150 e:ReportableOperatingSegment3 2022-01-01 2022-12-31 00109150 e:ReportableOperatingSegment4 2023-01-01 2023-12-31 00109150 e:ReportableOperatingSegment4 2022-01-01 2022-12-31 00109150 e:ReportableOperatingSegment5 2023-01-01 2023-12-31 00109150 e:ReportableOperatingSegment5 2022-01-01 2022-12-31 00109150 e:ReportableOperatingSegment7 2023-01-01 2023-12-31 00109150 e:ReportableOperatingSegment7 2022-01-01 2022-12-31 00109150 e:UKTax 2023-01-01 2023-12-31 00109150 e:UKTax 2022-01-01 2022-12-31 00109150 e:RevaluationReserve 2023-01-01 2023-12-31 00109150 e:RevaluationReserve 2023-12-31 00109150 e:RevaluationReserve 1 2023-01-01 2023-12-31 00109150 e:RevaluationReserve 2 2023-01-01 2023-12-31 00109150 e:RevaluationReserve 2022-01-01 2022-12-31 00109150 e:RevaluationReserve 2022-12-31 00109150 e:RevaluationReserve 2022-01-01 00109150 e:RevaluationReserve 2 2022-01-01 2022-12-31 00109150 e:RevaluationReserve 8 2022-01-01 2022-12-31 00109150 e:OtherMiscellaneousReserve 2023-01-01 2023-12-31 00109150 e:OtherMiscellaneousReserve 2023-12-31 00109150 e:OtherMiscellaneousReserve 1 2023-01-01 2023-12-31 00109150 e:OtherMiscellaneousReserve 2 2023-01-01 2023-12-31 00109150 e:OtherMiscellaneousReserve 2022-01-01 2022-12-31 00109150 e:OtherMiscellaneousReserve 2022-12-31 00109150 e:OtherMiscellaneousReserve 2022-01-01 00109150 e:OtherMiscellaneousReserve 1 2022-01-01 2022-12-31 00109150 e:OtherMiscellaneousReserve 2 2022-01-01 2022-12-31 00109150 e:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 00109150 e:RetainedEarningsAccumulatedLosses 2023-12-31 00109150 e:RetainedEarningsAccumulatedLosses 1 2023-01-01 2023-12-31 00109150 e:RetainedEarningsAccumulatedLosses 2 2023-01-01 2023-12-31 00109150 e:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 00109150 e:RetainedEarningsAccumulatedLosses 2022-12-31 00109150 e:RetainedEarningsAccumulatedLosses 2022-01-01 00109150 e:RetainedEarningsAccumulatedLosses 1 2022-01-01 2022-12-31 00109150 e:RetainedEarningsAccumulatedLosses 2 2022-01-01 2022-12-31 00109150 d:FRS102 2023-01-01 2023-12-31 00109150 d:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 00109150 d:FullAccounts 2023-01-01 2023-12-31 00109150 d:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 00109150 6 2023-01-01 2023-12-31 00109150 f:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 00109150










The Guild of Freemen of the City of London








Unaudited

Directors' Report and Financial Statements

Information for filing with the registrar

For the year ended 31 December 2023

 
The Guild of Freemen of the City of London
Registered number: 00109150

Balance Sheet
As at 31 December 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 6 
498,416
486,814

  
498,416
486,814

Current assets
  

Stocks
 8 
10,281
15,361

Debtors: amounts falling due within one year
 9 
26,287
9,941

Cash at bank and in hand
 10 
120,010
117,182

  
156,578
142,484

Creditors: amounts falling due within one year
 11 
(168,685)
(127,761)

Net current (liabilities)/assets
  
 
 
(12,107)
 
 
14,723

Total assets less current liabilities
  
486,309
501,537

  

Net assets
  
486,309
501,537


Capital and reserves
  

Revaluation reserve
 13 
22,225
24,837

Other reserves
 13 
177,607
178,035

Profit and loss account
 13 
286,477
298,665

  
486,309
501,537


The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 4 September 2024.




Neil Redcliffe, JP
Honorary Treasurer

Page 1

 
The Guild of Freemen of the City of London
 

Statement of Changes in Equity
For the year ended 31 December 2023


Revaluation reserve
Other reserves - Life Fund
Profit and loss account
Total equity

£
£
£
£


At 1 January 2022
51,598
169,136
332,880
553,614


Comprehensive income for the year

Profit for the year
-
-
(60,976)
(60,976)

Subscriptions from new Life Members
-
21,142
-
21,142

Release to the profit and loss account
-
(12,243)
-
(12,243)
Total comprehensive income for the year
-
8,899
(60,976)
(52,077)

Transfer to/from profit and loss account
(26,761)
-
26,761
-


Total transactions with owners
(26,761)
-
26,761
-



At 1 January 2023
24,837
178,035
298,665
501,537


Comprehensive income for the year

Loss for the year
-
-
(14,800)
(14,800)

Subscriptions from new Life Members
-
11,002
-
11,002

Release to the profit and loss account
-
(11,430)
-
(11,430)
Total comprehensive income for the year
-
(428)
(14,800)
(15,228)

Transfer to/from profit and loss account
(2,612)
-
2,612
-


Total transactions with owners
(2,612)
-
2,612
-


At 31 December 2023
22,225
177,607
286,477
486,309


The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
The Guild of Freemen of the City of London
 

 
Notes to the Financial Statements
For the year ended 31 December 2023

1.


General information

The company is a private company limited by guarantee and incorporated in England and Wales. The address of its registered office is 4 Dowgate Hill, London, EC4R 2SH. The company trades from Rooms 78/79, 65 London Wall, London  EC2M 5TU.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

  
2.2

Turnover

Turnover represents subscription income recognised on the basis of entitlement, surplus on the
sale of merchandise during the year and the invoice value of services provided net of VAT.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures & fittings
-
25% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Valuation of investments

Investments in listed company shares are remeasured to market value at each balance sheet. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Page 3

 
The Guild of Freemen of the City of London
 

 
Notes to the Financial Statements
For the year ended 31 December 2023

2.Accounting policies (continued)

  
2.6

Stocks

Stocks 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 incurred in bringing the stocks to
their present location and condition.
Net realisable value is based on estimated selling price less further costs to be incurred to
completion and disposal.

 
2.7

Government grants

Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

 
2.8

Pensions

The company operates a defined contribution pension scheme for the benefit of two employees.
Contributions payable are charged to the income and expenditure account in the year they are
payable.

 
2.9

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


3.


Turnover

An analysis of turnover by class of business is as follows:


2023
2022
£
£

Subscriptions
114,737
137,708

Life subsciptions
11,430
12,243

Surplus on merchandise
1,266
651

Entertainment fund surplus
13,817
19,505

Joining fees
12,834
11,661

Advertising income
590
-

154,674
181,768



4.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 4

 
The Guild of Freemen of the City of London
 

 
Notes to the Financial Statements
For the year ended 31 December 2023

5.


Taxation


2023
2022
£
£

Corporation tax


Current tax on profits for the year
1,153
246

Adjustments in respect of previous periods
2
-


Taxation on profit on ordinary activities
1,155
246

Factors affecting tax charge for the year

There were no factors that affected the tax charge for the year which has been calculated on taxable profits.



6.


Fixed asset investments





Listed investments
Capital cash
Total

£
£
£



Valuation


At 1 January 2023
473,262
13,552
486,814


Additions
44,722
-
44,722


Disposals
(53,769)
-
(53,769)


Revaluations
23,344
-
23,344


Movements in cash
-
(2,695)
(2,695)



At 31 December 2023
487,559
10,857
498,416




The historical cost of the listed investments, excluding cash, at 31 December 2023 was £393,393 (2022: £396,306).

Page 5

 
The Guild of Freemen of the City of London
 

 
Notes to the Financial Statements
For the year ended 31 December 2023

7.


Tangible fixed assets





Fixtures & fittings

£



Cost


At 1 January 2023
5,846



At 31 December 2023

5,846



Depreciation


At 1 January 2023
5,846



At 31 December 2023

5,846



Net book value



At 31 December 2023
-



At 31 December 2022
-

Silver and other valuables owned by the Guild, with an insured value of £414,736 (2022: £414,736), are not included as assets in these financial statements.


8.


Stocks

2023
2022
£
£

Finished goods and goods for resale
10,281
15,361

10,281
15,361



9.


Debtors

2023
2022
£
£


Trade debtors
80
150

Prepayments and accrued income
26,207
9,791

26,287
9,941


Page 6

 
The Guild of Freemen of the City of London
 

 
Notes to the Financial Statements
For the year ended 31 December 2023

10.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
120,010
117,182

120,010
117,182



11.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
3,838
6,307

Corporation tax
1,153
246

Other taxation and social security
15,054
11,852

Other creditors
5,494
539

Accruals and deferred income
143,146
108,817

168,685
127,761



12.


Company status

The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.




13.


Reserves

Revaluation reserve

This reserve records the movement in fair value of fixed asset investments.

Other reserves

This represents the Life subscription fund which accounts for subscription income taken directly to this reserve. Amounts are released annually to the profit and loss account so as to spread income over the anticipated membership period the individuals are contributing.

Profit & loss account

The profit and loss account includes all current and prior period retained profits and losses.

Page 7

 
The Guild of Freemen of the City of London
 

 
Notes to the Financial Statements
For the year ended 31 December 2023

14.


Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £2,289 (2022: £2,194). Contributions totalling £445 (2022: £425) were payable to the fund at the balance sheet date and are included in other creditors.


15.


Related party transactions

The Guild provides administrative support to The Guild of Freemen of the City of London's Charity at no cost to the Charity.




2023
2022
£
£


Income from fixed asset investments
12,570
11,757

Release from Life Fund to profit and loss account
11,430
12,243

Assumed income from Life members
24,000
24,000


Page 8