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Registered number: 13407383









LAINDON COMMUNITY CENTRE LIMITED








FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2023

 
LAINDON COMMUNITY CENTRE LIMITED
REGISTERED NUMBER: 13407383

BALANCE SHEET
AS AT 30 NOVEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Stocks
 4 
6,633
7,278

Debtors: amounts falling due within one year
 5 
741
-

Cash at bank and in hand
 6 
4,748
14,875

  
12,122
22,153

Creditors: amounts falling due within one year
 7 
(43,531)
(22,081)

Net current (liabilities)/assets
  
 
 
(31,409)
 
 
72

  

Net (liabilities)/assets
  
(31,409)
72


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
(31,411)
70

  
(31,409)
72


Page 1

 
LAINDON COMMUNITY CENTRE LIMITED
REGISTERED NUMBER: 13407383
    
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2023

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 November 2024.






B J Clark
L R Lidgard
Director
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
LAINDON COMMUNITY CENTRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.


General information

Laindon Community Centre Limited is a company limited by shares, incorporated in England, United Kingdom. The address of the principal place of business is Laindon Community Centre, Aston Road, Basildon, Essex, United Kingdom, SS15 6NX. The company's principal activity is that of a social club.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the company has transferred the significant risks and rewards of ownership to the buyer;
the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Operating leases: the company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
LAINDON COMMUNITY CENTRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.5

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the company in independently administered funds.

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell.


 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
LAINDON COMMUNITY CENTRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.11

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's Balance sheet when the company becomes party to the contractual provisions of the instrument.


3.


Employees

The average monthly number of employees, including directors, during the year was 16 (2022 - 11).


4.


Stocks

2023
2022
£
£

Goods for resale
6,633
7,278



5.


Debtors

2023
2022
£
£


Other debtors
94
-

Prepayments and accrued income
647
-

741
-



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
4,748
14,875


Page 5

 
LAINDON COMMUNITY CENTRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
33,214
2,478

Corporation tax
-
17

Other taxation and social security
3,034
4,741

Other creditors
1,564
12,445

Accruals and deferred income
5,719
2,400

43,531
22,081



8.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from
those of the company in an independently administered fund. The pension cost represents contributions payable by
the company to the fund and amounted to £1,160
 (2022 - £1,773). Contributions totalling £Nil (2022 - £Nil) were
payable to the fund at the balance sheet date and are included in creditors.


9.


Related party transactions


2023
2022
£
£
Amounts owed to connected parties
1,563
12,445

 
Page 6