Registered number
00111954
New Cleethorpes Constitutional Club Limited
Report and Accounts
31 January 2024
New Cleethorpes Constitutional Club Limited
Report and accounts
Contents
Page
Company information 1
Directors' report 2
Accountants' report 3
Profit and loss account 4
Balance sheet 5
Statement of changes in equity 6
Notes to the accounts 7
New Cleethorpes Constitutional Club Limited
Company Information
Directors
I England - resigned 9th October 2023
M J Goodwin - resigned 24th May 2023
C P Tully - resigned 19th April 2024
M Sargent - resigned 22 February 2023
J M Rhodes - resigned 1st February 2024
L Barker - resigned 1st February 2023
D McGregor - resigned 2nd May 2024
J Beckett - appointed 24th May 2023 - resigned 9th October 2023
D Cook - appointed 24th May 2023
M Parker - appointed 24th May 2023
M Phillips - Co-opted 1st March 2024
M Wilde - Co-opted 1st March 2024
K Southwell - Co-opted 1st March 2024
J Yates – Co-opted on 8 July 2024
Secretary
D Silcox - resigned 31st October 2023
S Marshall – appointed on 1 January 2024 resigned on 1 May 2024
T Clark - appointed 3rd June 2024
Accountants
Katie Sauvage Accountancy Services Ltd
12 Pilgrims Close
South Killingholme
Immingham
North Lincolnshire
DN40 3HU
Bankers
National Westminster Bank Plc
39 Grimsby Road
Cleethorpes
North East Lincolnshire
DN35 7GB
Registered office
The Club
179 Grimsby Road
Cleethorpes
North East Lincolnshire
DN35 7DJ
Registered number
00111954
New Cleethorpes Constitutional Club Limited
Registered number: 00111954
Directors' Report
The directors present their report and accounts for the year ended 31 January 2024.
Principal activities
The company's principal activity during the year continued to be operating a members club.
Directors
The following persons served as directors during the year:
I England - resigned 9th October 2023
M J Goodwin - resigned 24th May 2023
C P Tully - resigned 19th April 2024
M Sargent - resigned 22 February 2023
J M Rhodes - resigned 1st February 2024
L Barker - resigned 1st February 2023
D McGregor - resigned 2nd May 2024
J Beckett - appointed 24th May 2023 - resigned 9th October 2023
D Cook - appointed 24th May 2023
M Parker - appointed 24th May 2023
M Phillips - Co-opted 1st March 2024
M Wilde - Co-opted 1st March 2024
K Southwell - Co-opted 1st March 2024
J Yates – Co-opted on 8 July 2024
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 20 August 2024 and signed on its behalf.
Mr D Cook
Director
New Cleethorpes Constitutional Club Limited
Report to the directors on the preparation of the unaudited statutory accounts of New Cleethorpes Constitutional 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 New Cleethorpes Constitutional Club Limited for the year ended 31 January 2024 which comprise of the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163.
Katie Sauvage Accountancy Services Ltd
Chartered Certified Accountants
12 Pilgrims Close
South Killingholme
Immingham
North Lincolnshire
DN40 3HU
20 August 2024
New Cleethorpes Constitutional Club Limited
Profit and Loss Account
for the year ended 31 January 2024
2024 2023
£ £
Turnover 310,425 280,800
Cost of sales (144,159) (121,659)
Gross profit 166,266 159,141
Administrative expenses (169,014) (181,447)
Other operating income 5,764 5,050
Operating profit/(loss) 3,016 (17,256)
Interest receivable 253 41
Profit/(loss) before taxation 3,269 (17,215)
Tax on profit/(loss) (1,143) (1,155)
Profit/(loss) for the financial year 2,126 (18,370)
New Cleethorpes Constitutional Club Limited
Registered number: 00111954
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 78,519 87,045
Current assets
Stocks 11,994 9,681
Debtors 4 1,588 4,728
Cash at bank and in hand 73,379 51,034
86,961 65,443
Creditors: amounts falling due within one year 5 (33,676) (22,845)
Net current assets 53,285 42,598
Net assets 131,804 129,643
Capital and reserves
Called up share capital 238 203
Revaluation reserve 6 75,181 75,181
Other reserves 4,054 4,054
Profit and loss account 52,331 50,205
Shareholders' funds 131,804 129,643
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr D Cook
Director
Approved by the board on 20 August 2024
New Cleethorpes Constitutional Club Limited
Statement of Changes in Equity
for the year ended 31 January 2024
Share Share Re- Other Profit Total
capital premium valuation Reserves and loss
reserve account
£ £ £ £ £ £
At 1 February 2022 203 - 75,181 4,026 68,575 147,985
Loss for the financial year (18,370) (18,370)
Shares redeemed - 28 28
At 31 January 2023 203 - 75,181 4,054 50,205 129,643
At 1 February 2023 203 - 75,181 4,054 50,205 129,643
Profit for the financial year 2,126 2,126
Shares issued 35 - 35
At 31 January 2024 238 - 75,181 4,054 52,331 131,804
New Cleethorpes Constitutional Club Limited
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Improvements to property over 10 years
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 10 years
Freehold property is shown at a previous UK GAAP revaluation, which has been used as deemed cost on transition to FRS102. All other assets are stated at cost less depreciation.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell, after making allowance for obsolete and slow moving items. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
The Company operates a defined contribution pension scheme. Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 10 13
3 Tangible fixed assets
Land and buildings Plant and machinery etc Fixtures and fittings Total
£ £ £ £
Cost
At 1 February 2023 146,388 32,067 99,698 278,153
Additions - 2,453 - 2,453
At 31 January 2024 146,388 34,520 99,698 280,606
Depreciation
At 1 February 2023 67,347 29,088 99,698 196,133
Charge for the year 2,928 3,026 - 5,954
At 31 January 2024 70,275 32,114 99,698 202,087
Net book value
At 31 January 2024 76,113 2,406 - 78,519
At 31 January 2023 79,041 2,979 - 82,020
Freehold land and buildings: 2024 2023
£ £
Historical cost 66,719 66,719
Cumulative depreciation based on historical cost 35,215 33,881
31,504 32,838
The freehold property was professionally valued on 31 January 1980 at £118,000.
Freehold property is shown at a previous UK GAAP revaluation, which has been used as deemed cost at the date of transition to FRS102
4 Debtors 2024 2023
£ £
Other debtors 1,588 4,728
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 15,527 10,648
Taxation and social security costs 11,279 4,715
Other creditors 6,870 7,482
33,676 22,845
6 Revaluation reserve 2024 2023
£ £
At 1 February 2023 75,181 75,181
At 31 January 2024 75,181 75,181
7 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 1,476 4,008
8 Related party transactions
During the year there were the following related party transactions:
J Rhodes - Director until 1st February 2024
During the year, one of the properties owned by the company is rented to Mr J Rhodes, a director of the company. Rent of £5,100 (2023 : £5,100) is charged at full market value, included in debtors is an amount outstanding of £0 (2023 : £1,515).
9 Controlling party
The company is controlled by it's members.
10 Other information
New Cleethorpes Constitutional Club Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Club
179 Grimsby Road
Cleethorpes
North East Lincolnshire
DN35 7DJ
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