Acorah Software Products - Accounts Production 14.5.501 false true true 31 January 2023 1 February 2022 false 1 February 2023 31 January 2024 31 January 2024 01393846 Mr John Mountain Mrs Penelope Mountain iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 01393846 2023-01-31 01393846 2024-01-31 01393846 2023-02-01 2024-01-31 01393846 frs-core:CurrentFinancialInstruments 2024-01-31 01393846 frs-core:Non-currentFinancialInstruments 2024-01-31 01393846 frs-core:FurnitureFittings 2024-01-31 01393846 frs-core:FurnitureFittings 2023-02-01 2024-01-31 01393846 frs-core:FurnitureFittings 2023-01-31 01393846 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-02-01 2024-01-31 01393846 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-01-31 01393846 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 01393846 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-01-31 01393846 frs-core:MotorVehicles 2023-02-01 2024-01-31 01393846 frs-core:PlantMachinery 2024-01-31 01393846 frs-core:PlantMachinery 2023-02-01 2024-01-31 01393846 frs-core:PlantMachinery 2023-01-31 01393846 frs-core:ShareCapital 2024-01-31 01393846 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31 01393846 frs-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 01393846 frs-bus:FilletedAccounts 2023-02-01 2024-01-31 01393846 frs-bus:SmallEntities 2023-02-01 2024-01-31 01393846 frs-bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 01393846 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 01393846 frs-bus:Director1 2023-02-01 2024-01-31 01393846 frs-bus:CompanySecretary1 2023-02-01 2024-01-31 01393846 frs-core:CurrentFinancialInstruments 1 2024-01-31 01393846 frs-core:CurrentFinancialInstruments 2 2024-01-31 01393846 frs-countries:EnglandWales 2023-02-01 2024-01-31 01393846 2022-01-31 01393846 2023-01-31 01393846 2022-02-01 2023-01-31 01393846 frs-core:CurrentFinancialInstruments 2023-01-31 01393846 frs-core:Non-currentFinancialInstruments 2023-01-31 01393846 frs-core:ShareCapital 2023-01-31 01393846 frs-core:RetainedEarningsAccumulatedLosses 2023-01-31 01393846 frs-core:CurrentFinancialInstruments 1 2023-01-31 01393846 frs-core:CurrentFinancialInstruments 2 2023-01-31
Registered number: 01393846
Grimsby Squash Rackets Club Limited(The)
Unaudited Financial Statements
For The Year Ended 31 January 2024
Unaudited Financial Statements
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 01393846
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 702,322 683,125
702,322 683,125
CURRENT ASSETS
Stocks 5 12,766 11,098
Debtors 6 24,309 26,166
Cash at bank and in hand 133,233 155,069
170,308 192,333
Creditors: Amounts Falling Due Within One Year 7 (213,957 ) (251,943 )
NET CURRENT ASSETS (LIABILITIES) (43,649 ) (59,610 )
TOTAL ASSETS LESS CURRENT LIABILITIES 658,673 623,515
Creditors: Amounts Falling Due After More Than One Year 8 (22,339 ) (32,270 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (11,865 ) (8,143 )
NET ASSETS 624,469 583,102
CAPITAL AND RESERVES
Called up share capital 9 900 900
Income Statement 623,569 582,202
SHAREHOLDERS' FUNDS 624,469 583,102
Page 1
Page 2
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 member has 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr John Mountain
Director
14th March 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Grimsby Squash Rackets Club Limited(The) is a private company, limited by shares, incorporated in England & Wales, registered number 01393846 . The registered office is Millfields 53 Bargate, Grimsby, North East Lincolshire, DN34 5AD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold Not depreciated
Leasehold Not depreciated
Plant & Machinery 25% straight line
Motor Vehicles 25% straight line
Fixtures & Fittings 20% reducing balance
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the income statement as they become payable in accordance with the rules of the scheme.
Page 3
Page 4
2.8. Government Grant
Government grants are recognised in the income statement in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the income statement. Grants towards general activities of the entity over a specific period are recognised in the income statement over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the income statement over the useful life of the asset concerned.
All grants in the income statement are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 34 (2023: 34)
34 34
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 February 2023 713,073 23,889 672,736 1,409,698
Additions - - 35,259 35,259
As at 31 January 2024 713,073 23,889 707,995 1,444,957
Depreciation
As at 1 February 2023 74,997 23,889 627,687 726,573
Provided during the period - - 16,062 16,062
As at 31 January 2024 74,997 23,889 643,749 742,635
Net Book Value
As at 31 January 2024 638,076 - 64,246 702,322
As at 1 February 2023 638,076 - 45,049 683,125
5. Stocks
2024 2023
£ £
Materials 12,766 11,098
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 19,565 20,204
Prepayments and accrued income 4,744 5,962
24,309 26,166
Page 4
Page 5
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 46,474 17,749
Bank loans and overdrafts 9,952 9,707
Corporation tax payable 5,905 10,936
VAT control account 30,000 33,735
PAYE control account 6,578 5,222
Sundry creditors 29,729 49,398
Deposits taken 22,870 25,962
Accruals < 1 year 12,264 5,864
Director's loan account 50,185 93,370
213,957 251,943
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 22,339 32,270
22,339 32,270
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 900 900
Page 5