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REGISTERED NUMBER: 03494193 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

INVESTING IN PEMBROKESHIRE
SOCIETY LIMITED

INVESTING IN PEMBROKESHIRE
SOCIETY LIMITED (REGISTERED NUMBER: 03494193)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


INVESTING IN PEMBROKESHIRE
SOCIETY LIMITED

COMPANY INFORMATION
for the Year Ended 31 December 2023







DIRECTORS: D R S Clarke
M E Peake
K Wakefield
A Warlow
C George
A E Sangster
A Owens


SECRETARY: D R S Clarke


REGISTERED OFFICE: Suite 16 Cedar Court
Havens Head Business Park
Milford Haven
Pembrokeshire
SA73 3LS


REGISTERED NUMBER: 03494193 (England and Wales)


ACCOUNTANTS: L M Griffiths & Co Limited
Chartered Certified Accountants
1&2 Merlins Court
Winch Lane
Haverfordwest
Pembrokeshire
SA61 1SB


BANKERS: National Westminster Plc
4 Hamilton Terrace
Milford Haven
Pembrokeshire
SA73 3AN


SOLICITORS: Hains & Lewis
Penffynnon
Hawthorn Rise
Haverfordwest
SA61 2BQ

INVESTING IN PEMBROKESHIRE
SOCIETY LIMITED (REGISTERED NUMBER: 03494193)

STATEMENT OF FINANCIAL POSITION
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 6,892 6,499

CURRENT ASSETS
Debtors 5 1,222,765 1,248,013
Cash at bank and in hand 1,041,423 921,874
2,264,188 2,169,887
CREDITORS
Amounts falling due within one year 6 29,216 23,604
NET CURRENT ASSETS 2,234,972 2,146,283
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,241,864

2,152,782

RESERVES
Income and expenditure account 2,241,864 2,152,782
2,241,864 2,152,782

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

INVESTING IN PEMBROKESHIRE
SOCIETY LIMITED (REGISTERED NUMBER: 03494193)

STATEMENT OF FINANCIAL POSITION - continued
31 December 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2024 and were signed on its behalf by:




D R S Clarke - Director



A Owens - Director


INVESTING IN PEMBROKESHIRE
SOCIETY LIMITED (REGISTERED NUMBER: 03494193)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Investing in Pembrokeshire Society Limited is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The directors are not aware of any material uncertainties in the forthcoming 12 months. As a result the going concern basis of accounting has been adopted.

Turnover
Turnover represents the amount derived from the sale of lottery draw entries and the charging of administration fees on loan applications and is recorded when received. The rules and regulations of the Gambling Commission determine that lottery income once received for, or on account of, a lottery draw cannot be refunded to the participant.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance
Computer equipment - 20% on reducing balance

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

Taxation
The company is not liable to UK corporation tax on its profits. The charge for taxation relates purely to investment income.
No provision for deferred taxation is made if there are no material timing differences.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Income recognition
The company's turnover represents mainly income from the sale of lottery draw entries. The income is recognised in the period to which the draw relates. Other income is recognised when the monies are received.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

INVESTING IN PEMBROKESHIRE
SOCIETY LIMITED (REGISTERED NUMBER: 03494193)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2023 6,855 25,720 32,575
Additions 1,959 156 2,115
At 31 December 2023 8,814 25,876 34,690
DEPRECIATION
At 1 January 2023 5,777 20,299 26,076
Charge for year 607 1,115 1,722
At 31 December 2023 6,384 21,414 27,798
NET BOOK VALUE
At 31 December 2023 2,430 4,462 6,892
At 31 December 2022 1,078 5,421 6,499

5. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 252,349 243,868
Other debtors 2,789 2,013
255,138 245,881

Amounts falling due after more than one year:
Other debtors 967,627 1,002,132

Aggregate amounts 1,222,765 1,248,013

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 2,985 1,798
Taxation and social security 3,613 354
Other creditors 22,618 21,452
29,216 23,604

7. GAMING LICENCE

The company operates under a licence received by the Gaming Board for Great Britain in August 2002. Activities of the Gaming Board were subsequently transferred to the Gambling Commission.