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Company Registration No. 03499710 (England and Wales)
Wattstown Social Club Limited Unaudited accounts for the year ended 31 January 2024
Wattstown Social Club Limited Unaudited accounts Contents
Page
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Wattstown Social Club Limited Company Information for the year ended 31 January 2024
Director
F D J Brewis
Company Number
03499710 (England and Wales)
Registered Office
Bailey Street Wattstown Porth CF39 0RA Wales
Accountants
R H Jeffs & Rowe Ltd 27-28 Gelliwastad Road Pontypridd CF37 2BW
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Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Wattstown Social Club Limited for the year ended 31 January 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Wattstown Social Club Limited for the year ended 31 January 2024 as set out on pages 5 - 8 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
This report is made solely to the Board of Directors of Wattstown Social Club Limited, as a body, in accordance with the terms of our engagement letter dated 1 January 2018. Our work has been undertaken solely to prepare for your approval the accounts of Wattstown Social Club Limited and state those matters that we have agreed to state to the Board of Directors of Wattstown Social Club Limited, as a body, in this report in accordance with AAF 07/16 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Wattstown Social Club Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Wattstown Social Club Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Wattstown Social Club Limited. You consider that Wattstown Social Club Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Wattstown Social Club Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
R H Jeffs & Rowe Ltd Chartered Accountants 27-28 Gelliwastad Road Pontypridd CF37 2BW 7 October 2024
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Wattstown Social Club Limited Statement of financial position as at 31 January 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
8,705 
8,441 
Current assets
Inventories
5,000 
5,000 
Debtors
1,587 
1,843 
Cash at bank and in hand
11,791 
9,955 
18,378 
16,798 
Creditors: amounts falling due within one year
(9,498)
(4,420)
Net current assets
8,880 
12,378 
Total assets less current liabilities
17,585 
20,819 
Creditors: amounts falling due after more than one year
(106,222)
(98,416)
Net liabilities
(88,637)
(77,597)
Reserves
Profit and loss account
(88,637)
(77,597)
Members' funds
(88,637)
(77,597)
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 6 October 2024 and were signed on its behalf by
F D J Brewis Director Company Registration No. 03499710
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Wattstown Social Club Limited Notes to the Accounts for the year ended 31 January 2024
1
Statutory information
Wattstown Social Club Limited is a private company, limited by guarantee, registered in England and Wales, registration number 03499710. The registered office is Bailey Street , Wattstown, Porth, CF39 0RA, Wales.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
15% reducing balance
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Going concern
The company has a deficiency of assets. The Director has prepared the financial statements on a going concern basis, the validity of which depends upon the continued support of the Wattstown Social Welfare Centre. The financial statements do not include any adjustments that would result from a cessation of this support.
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Wattstown Social Club Limited Notes to the Accounts for the year ended 31 January 2024
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 February 2023
21,443 
Additions
1,800 
At 31 January 2024
23,243 
Depreciation
At 1 February 2023
13,002 
Charge for the year
1,536 
At 31 January 2024
14,538 
Net book value
At 31 January 2024
8,705 
At 31 January 2023
8,441 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
1,587 
1,843 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
2,039 
1,786 
Trade creditors
7,459 
2,634 
9,498 
4,420 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
5,157 
7,131 
Amounts owed to group undertakings and other participating interests
101,065 
91,285 
106,222 
98,416 
8
Company limited by guarantee
The company is limited by guarantee and has no share capital. Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
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Wattstown Social Club Limited Notes to the Accounts for the year ended 31 January 2024
9
Transactions with related parties
The Company is controlled by Wattstown Social Welfare Centre, a registered charity number 524254. The Company has entered into two agreements with Wattstown Social Welfare Centre whereby: (a) OCCUPATIONAL LICENCE - The Company is granted the right to trade from the premises of the Association at Bailey Street, Porth. This agreement can be cancelled or amended by the giving of one months notice by either side. (b) DEED OF COVENANT - The Company has agreed to make an annual covenanted payment to the Association of all its taxable profits, if any.
10
Average number of employees
During the year the average number of employees was 4 (2023: 5).
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