The Norman Lockyer Observatory Society 03048646 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is To promote, develop and encourage public education in, awareness and study of science, engineering and technology, science education and research and the recreational study of science, especially sciences related to Astronomy and all forms of communication. Digita Accounts Production Advanced 6.30.9574.0 true true 03048646 2023-04-01 2024-03-31 03048646 2024-03-31 03048646 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 03048646 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 03048646 core:FurnitureFittingsToolsEquipment 2024-03-31 03048646 core:LandBuildings 2024-03-31 03048646 bus:SmallEntities 2023-04-01 2024-03-31 03048646 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 03048646 bus:FilletedAccounts 2023-04-01 2024-03-31 03048646 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 03048646 bus:RegisteredOffice 2023-04-01 2024-03-31 03048646 bus:Director10 2023-04-01 2024-03-31 03048646 bus:Director12 2023-04-01 2024-03-31 03048646 bus:Director13 2023-04-01 2024-03-31 03048646 bus:Director19 2023-04-01 2024-03-31 03048646 bus:Director22 2023-04-01 2024-03-31 03048646 bus:Director27 2023-04-01 2024-03-31 03048646 bus:Director30 2023-04-01 2024-03-31 03048646 bus:Director32 2023-04-01 2024-03-31 03048646 bus:Director8 2023-04-01 2024-03-31 03048646 bus:CompanyLimitedByGuarantee 2023-04-01 2024-03-31 03048646 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 03048646 core:LandBuildings 2023-04-01 2024-03-31 03048646 countries:UnitedKingdom 2023-04-01 2024-03-31 03048646 2023-03-31 03048646 core:FurnitureFittingsToolsEquipment 2023-03-31 03048646 core:LandBuildings 2023-03-31 03048646 2022-04-01 2023-03-31 03048646 2023-03-31 03048646 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 03048646 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 03048646 core:FurnitureFittingsToolsEquipment 2023-03-31 03048646 core:LandBuildings 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 03048646

The Norman Lockyer Observatory Society

(A company limited by guarantee)

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 March 2024

 

The Norman Lockyer Observatory Society

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 6

 

The Norman Lockyer Observatory Society

Company Information

Directors

Miss K.M. Dollery

Mr D Jones

Mr D. Strange

Mr. W Hitchings

P Youd

Dr D.P. Howlett

Mrs V J Brown

Mr A Rowe

Mr Jeffery Charles Legg

Registered office

Easterbrook Eaton Limited (Chartered Accountants)
Cosmopolitan House
Old Fore Street
Sidmouth
Devon
EX10 8LS

Accountants

Easterbrook Eaton Limited
Chartered Accountants
Cosmopolitan House
Old Fore Street
Sidmouth
Devon
EX10 8LS

 

The Norman Lockyer Observatory Society

(Registration number: 03048646)
Abridged Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

168,403

181,794

Current assets

 

Stocks

5

1,904

1,507

Cash at bank and in hand

 

109,992

113,764

 

111,896

115,271

Prepayments and accrued income

 

1,046

1,148

Creditors: Amounts falling due within one year

(2,519)

(2,878)

Net current assets

 

110,423

113,541

Total assets less current liabilities

 

278,826

295,335

Creditors: Amounts falling due after more than one year

(5,000)

(5,000)

Net assets

 

273,826

290,335

Reserves

 

Retained earnings

273,826

290,335

Surplus

 

273,826

290,335

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 23 September 2024 and signed on its behalf by:
 

 

The Norman Lockyer Observatory Society

(Registration number: 03048646)
Abridged Balance Sheet as at 31 March 2024

.........................................
Mr D. Strange
Director

.........................................
Mr. W Hitchings
Director

 

The Norman Lockyer Observatory Society

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

1

General information

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

The address of its registered office is:
Easterbrook Eaton Limited (Chartered Accountants)
Cosmopolitan House
Old Fore Street
Sidmouth
Devon
EX10 8LS

These financial statements were authorised for issue by the Board on 23 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

The Norman Lockyer Observatory Society

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 14 (2023 - 12).

 

The Norman Lockyer Observatory Society

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

308,311

1

308,312

Additions

642

-

642

At 31 March 2024

308,953

1

308,954

Depreciation

At 1 April 2023

126,518

-

126,518

Charge for the year

14,033

-

14,033

At 31 March 2024

140,551

-

140,551

Carrying amount

At 31 March 2024

168,402

1

168,403

At 31 March 2023

181,793

1

181,794

Included within the net book value of land and buildings above is £168,402 (2023 - £181,793) in respect of long leasehold land and buildings.
 

5

Stocks

2024
£

2023
£

Other inventories

1,904

1,507

6

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.