Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31No description of principal activitytrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-01-01false00truefalse 03687421 2023-01-01 2023-12-31 03687421 2022-01-01 2022-12-31 03687421 2023-12-31 03687421 2022-12-31 03687421 c:Director1 2023-01-01 2023-12-31 03687421 d:OfficeEquipment 2023-01-01 2023-12-31 03687421 d:ComputerEquipment 2023-01-01 2023-12-31 03687421 d:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 03687421 d:OtherPropertyPlantEquipment 2023-12-31 03687421 d:OtherPropertyPlantEquipment 2022-12-31 03687421 d:CurrentFinancialInstruments 2023-12-31 03687421 d:CurrentFinancialInstruments 2022-12-31 03687421 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 03687421 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 03687421 d:RetainedEarningsAccumulatedLosses 2023-12-31 03687421 d:RetainedEarningsAccumulatedLosses 2022-12-31 03687421 c:FRS102 2023-01-01 2023-12-31 03687421 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 03687421 c:FullAccounts 2023-01-01 2023-12-31 03687421 c:CompanyLimitedByGuarantee 2023-01-01 2023-12-31 03687421 2 2023-01-01 2023-12-31 03687421 6 2023-01-01 2023-12-31 03687421 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Registered number: 03687421









MX-5 OWNERS CLUB
(A Company Limited by Guarantee)

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
MX-5 OWNERS CLUB
 
(A Company Limited by Guarantee)
REGISTERED NUMBER: 03687421

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
9,446
-

Investments
 5 
1
1

  
9,447
1

Current assets
  

Stocks
  
10,833
10,336

Debtors: amounts falling due within one year
 6 
12,864
10,946

Cash at bank and in hand
  
171,746
200,542

  
195,443
221,824

Creditors: amounts falling due within one year
 7 
(54,078)
(49,494)

Net current assets
  
 
 
141,365
 
 
172,330

Total assets less current liabilities
  
150,812
172,331

  

Net assets
  
150,812
172,331


Capital and reserves
  

Profit and loss account
  
150,812
172,331

  
150,812
172,331


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 profit and loss account 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 26 September 2024.

Mr I Johnson
Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
MX-5 OWNERS CLUB

(A Company Limited by Guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

MX-5 Owners Club is a private company, limited by guarantee, incorporated in England and Wales, registration number 03687421.  The registered office is 6 St. Andrews Business Park, Norwich, Norfolk, NR7 0HR.

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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

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.

 
2.5

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.

Page 2

 
MX-5 OWNERS CLUB

(A Company Limited by Guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.5
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Office equipment
-
33%
straight line
Computer equipment
-
33%
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 the Profit and Loss Account.

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell.
At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 3

 
MX-5 OWNERS CLUB

(A Company Limited by Guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets
Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs.
Basic financial liabilities 
Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs.
Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year.


3.


Employees




The average monthly number of employees, including directors, during the year was 0 (2022 - 0).


4.


Tangible fixed assets





Other fixed assets

£



Cost or valuation


At 1 January 2023
53,289


Additions
9,446



At 31 December 2023

62,735



Depreciation


At 1 January 2023
53,289



At 31 December 2023

53,289



Net book value



At 31 December 2023
9,446



At 31 December 2022
-

Page 4

 
MX-5 OWNERS CLUB

(A Company Limited by Guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2023
1



At 31 December 2023
1





6.


Debtors

2023
2022
£
£


Trade debtors
6,600
6,600

Other debtors
3,566
1,486

Prepayments and accrued income
2,698
2,860

12,864
10,946



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
28,833
38,719

Amounts owed to group undertakings
20,841
6,017

Other creditors
1,000
1,000

Accruals and deferred income
3,404
3,758

54,078
49,494




8.


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.


Page 5