REGISTERED NUMBER: |
LLAY MINERS WELFARE INSTITUTE LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED |
31 JANUARY 2024 |
REGISTERED NUMBER: |
LLAY MINERS WELFARE INSTITUTE LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED |
31 JANUARY 2024 |
LLAY MINERS WELFARE INSTITUTE LIMITED (REGISTERED NUMBER: 03158938) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2024 |
Page |
Company information | 1 |
Balance sheet | 2 |
Notes to the financial statements | 3 |
LLAY MINERS WELFARE INSTITUTE LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 JANUARY 2024 |
Directors: |
Registered office: |
Registered number: |
Accountants: |
St Andrews House |
Yale Business Village |
Ellice Way |
Wrexham |
Wrexham CB |
LL13 7YL |
LLAY MINERS WELFARE INSTITUTE LIMITED (REGISTERED NUMBER: 03158938) |
BALANCE SHEET |
31 JANUARY 2024 |
2024 | 2023 |
Notes | £ | £ |
Creditors |
Amounts falling due within one year | 4 |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities | ( |
) | ( |
) |
Reserves |
Income and expenditure account | ( |
) | ( |
) |
( |
) | ( |
) |
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. |
The financial statements were approved by the Board of Directors and authorised for issue on |
LLAY MINERS WELFARE INSTITUTE LIMITED (REGISTERED NUMBER: 03158938) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2024 |
1. | Statutory information |
Llay Miners Welfare Institute Limited is a |
2. | Accounting policies |
Basis of preparing the financial statements |
Turnover and other operating income |
This represents the cash received for the sale of goods and services made during the year, net of value added tax. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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. |
Brewery discount |
The brewery discount and brewery loan write offs on beer barrelage received during the year are taken into account in cost of sales. |
Operating leases |
Operating lease rentals are charged to the profit and loss as incurred. |
LLAY MINERS WELFARE INSTITUTE LIMITED (REGISTERED NUMBER: 03158938) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2024 |
2. | Accounting policies - continued |
Going concern |
At the time of approving the financial statements, the directors have a reasonable expectation that the company will continue in operational existence for a period of at least 12 months.. Thus the directors continue to adopt the going concern basis of accounting preparing the financial statements. The company continues with the support of Llay Miners Welfare Institute and Recreation Grounds (registered charity number 524064) which has provided support to the company during it's periods of closure resulting from the Covid-19 pandemic and is continuing to provide this support until trading returns to pre pandemic levels. The financial statements are prepared on the basis that the company will continue to have the support of the charity. |
3. | Employees and directors |
The average number of employees during the year was |
4. | Creditors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Other creditors |
Other creditors relates to support provided to the company by Llay Miners Welfare Institute and Recreation Grounds (registered charity number 524064). The company is obliged to covenant any surplus to the charity but, due to enforced closures during the Covid-19 pandemic, the company suffered losses in previous years, and has again this year. Therefore, in order to safeguard the company and it's future surpluses the charity provided support. By doing so the charity ensures it's own future revenue by way of surpluses and occupational licence fees. The support will be repaid out of future surpluses. |
5. | Related party disclosures |
The company is obliged by its Memorandum and Articles of Association to covenant any profit to Llay Miners Welfare Institute and Recreation Grounds which is a Registered Charity Number 524064 at the end of each financial period. However as this year the company has made a loss, this loss is being carried forward to offset against future profits (2023 profits transferred - £nil). |
The company received support from Llay Miners Welfare Institute and Recreation Grounds in previous years amounting to £1,956 (net). After including this years loss the remaining balance of support outstanding is £9,308. |
During the year occupational licence fees of £16,000 (2023 - £16,000) were paid by the company to Llay Miners Welfare Institute and Recreation Grounds. |
6. | Company limited by guarantee |
The company is limited by guarantee and therefore has no share capital. |