Sheerwater Churches Limited |
(Limited by Guarantee) |
Notes to the Accounts |
for the year ended 31 December 2023 |
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost or valuation less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
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Plant and machinery |
25% reducing balance |
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Freehold Buildings |
1% on cost |
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2 |
Employees |
2023 |
|
2022 |
Number |
Number |
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Average number of persons employed by the company |
- |
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- |
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3 |
Tangible fixed assets |
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Land and buildings |
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Plant and machinery etc |
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Total |
£ |
£ |
£ |
|
Cost |
|
At 1 January 2023 |
1,200,001 |
|
21,717 |
|
1,221,718 |
|
At 31 December 2023 |
1,200,001 |
|
21,717 |
|
1,221,718 |
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|
|
|
|
|
|
|
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Depreciation |
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At 1 January 2023 |
49,250 |
|
21,289 |
|
70,539 |
|
Charge for the year |
9,850 |
|
80 |
|
9,930 |
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At 31 December 2023 |
59,100 |
|
21,369 |
|
80,469 |
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Net book value |
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At 31 December 2023 |
1,140,901 |
|
348 |
|
1,141,249 |
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At 31 December 2022 |
1,150,751 |
|
428 |
|
1,151,179 |
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Freehold land and buildings: |
2023 |
|
2022 |
£ |
£ |
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Historical cost |
318,763 |
|
318,763 |
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Cumulative depreciation based on historical cost |
14,402 |
|
14,322 |
|
|
|
|
|
|
304,361 |
|
304,441 |
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St Michaels Church and 288 Albert Drive were revalued at fair value at 31 December 2017 by Gibson Associates, Chartered Surveyors. |
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4 |
Other Reserves |
2023 |
|
2022 |
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Restricted Fund |
£ |
£ |
|
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At 1 January 2023 |
317,147 |
|
317,290 |
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Transfers |
(80) |
|
(143) |
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At 31 December 2023 |
317,067 |
|
317,147 |
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The Restricted Fund is to meet the cost of purchasing and improving properties and other fixed assets. |
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5 |
Profit and loss account |
2023 |
|
2022 |
£ |
£ |
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At 1 January 2023 |
834,031 |
|
843,881 |
|
(Deficit)/surplus for the year |
(9,930) |
|
(9,993) |
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Transfer reserves |
80 |
|
143 |
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At 31 December 2023 |
824,181 |
|
834,031 |
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6 |
Other information |
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Sheerwater Churches Limited is a company limited by guarantee and incorporated in England. Its registered office is: |
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St Michaels Shared Church |
|
Dartmouth Avenue |
|
Woking |
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Surrey |
|
GU21 5PJ |