IRIS Accounts Production v24.2.0.383 01188119 Board of Directors 1.2.23 31.1.24 31.1.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh011881192023-01-31011881192024-01-31011881192023-02-012024-01-31011881192022-01-31011881192022-02-012023-01-31011881192023-01-3101188119ns14:PoundSterling2023-02-012024-01-3101188119ns10:Director12023-02-012024-01-3101188119ns10:CompanyLimitedByGuarantee2023-02-012024-01-3101188119ns10:SmallEntities2023-02-012024-01-3101188119ns10:AuditExempt-NoAccountantsReport2023-02-012024-01-3101188119ns10:SmallCompaniesRegimeForDirectorsReport2023-02-012024-01-3101188119ns10:SmallCompaniesRegimeForAccounts2023-02-012024-01-3101188119ns10:FullAccounts2023-02-012024-01-3101188119ns10:Director22023-02-012024-01-3101188119ns10:Director32023-02-012024-01-3101188119ns10:CompanySecretary12023-02-012024-01-3101188119ns10:RegisteredOffice2023-02-012024-01-3101188119ns5:CurrentFinancialInstruments2024-01-3101188119ns5:CurrentFinancialInstruments2023-01-3101188119ns5:Non-currentFinancialInstruments2024-01-3101188119ns5:Non-currentFinancialInstruments2023-01-3101188119ns5:RetainedEarningsAccumulatedLosses2024-01-3101188119ns5:RetainedEarningsAccumulatedLosses2023-01-3101188119ns5:LandBuildings2023-01-3101188119ns5:FurnitureFittings2023-01-3101188119ns5:LandBuildings2023-02-012024-01-3101188119ns5:FurnitureFittings2023-02-012024-01-3101188119ns5:LandBuildings2024-01-3101188119ns5:FurnitureFittings2024-01-3101188119ns5:LandBuildings2023-01-3101188119ns5:FurnitureFittings2023-01-3101188119ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-01-3101188119ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-01-3101188119ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2024-01-3101188119ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-01-31
REGISTERED NUMBER: 01188119










Unaudited Financial Statements

For The Year Ended 31 January 2024

for

Gloucester and District Irish Society
Limited (The)

Gloucester and District Irish Society
Limited (The) (Registered number: 01188119)






Contents of the Financial Statements
For The Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Gloucester and District Irish Society
Limited (The)

Company Information
For The Year Ended 31 January 2024







DIRECTORS: P J Maher
E F McGurk
P Duncliffe



SECRETARY:



REGISTERED OFFICE: Gloucester Irish Club
Horton Road
Gloucester
Gloucestershire
GL1 3QA



REGISTERED NUMBER: 01188119



ACCOUNTANTS: Kingscott Dix Limited
Chartered Accountants
Goodridge Court
Goodridge Avenue
Gloucester
Gloucestershire
GL2 5EN



BANKERS: National Westminster Bank Plc
21 Eastgate Street
Gloucester
GL1 1NH

Gloucester and District Irish Society
Limited (The) (Registered number: 01188119)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 128,595 138,115

CURRENT ASSETS
Stocks 5,000 5,000
Debtors 5 5,086 4,916
Cash at bank and in hand 30,607 46,053
40,693 55,969
CREDITORS
Amounts falling due within one year 6 40,483 72,990
NET CURRENT ASSETS/(LIABILITIES) 210 (17,021 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

128,805

121,094

CREDITORS
Amounts falling due after more than one
year

7

6,016

9,953
NET ASSETS 122,789 111,141

RESERVES
Income and expenditure account 122,789 111,141
122,789 111,141

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

Gloucester and District Irish Society
Limited (The) (Registered number: 01188119)

Balance Sheet - continued
31 January 2024


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 15 April 2024 and were signed on its behalf by:





P Duncliffe - Director


Gloucester and District Irish Society
Limited (The) (Registered number: 01188119)

Notes to the Financial Statements
For The Year Ended 31 January 2024

1. STATUTORY INFORMATION

Gloucester and District Irish 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.

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.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings Freehold: 2% straight line
Fixtures, fittings & equipment 10% straight line

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to present location and condition.

Gloucester and District Irish Society
Limited (The) (Registered number: 01188119)

Notes to the Financial Statements - continued
For The Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. The impairment loss is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

Classification of financial liabilities
Financial liabilities are classified according to the substance of the contractual arrangements entered into.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year. If not, they are presented as creditors falling due after more than one year. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities
Financial liabilities are derecognised when, and only when, the company's obligations are discharged, cancelled or they expire.

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.

Gloucester and District Irish Society
Limited (The) (Registered number: 01188119)

Notes to the Financial Statements - continued
For The Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued

Grant funding
A grant of £42,000 received from the Irish Embassy in respect of anticipated refurbishment work has been repaid to the the Embassy as the members decided not to embark on the contract.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 11 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and
property fittings Totals
£    £    £   
COST
At 1 February 2023
and 31 January 2024 306,009 74,417 380,426
DEPRECIATION
At 1 February 2023 194,273 48,038 242,311
Charge for year 6,120 3,400 9,520
At 31 January 2024 200,393 51,438 251,831
NET BOOK VALUE
At 31 January 2024 105,616 22,979 128,595
At 31 January 2023 111,736 26,379 138,115

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 1,940 3,604
Other debtors 2,596 -
Prepayments 550 1,312
5,086 4,916

Gloucester and District Irish Society
Limited (The) (Registered number: 01188119)

Notes to the Financial Statements - continued
For The Year Ended 31 January 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 4,259 4,259
Trade creditors 20,468 15,883
Social security & other taxes 1,383 1,447
VAT 3,484 3,649
Other creditors 1,949 4,252
Accruals & deferred income 8,940 1,500
Irish Embassy grant received
in advance of related
expenditure - 42,000
40,483 72,990

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.1.24 31.1.23
£    £   
Bounce Back loan 6,016 9,953

8. COMPANY LIMITED BY GUARANTEE

The company is limited by guarantee and has no shares.