|
|
|
|
Abridged Financial Statements |
Contents |
Page |
Abridged statement of comprehensive income |
1 |
Abridged statement of financial position |
2 |
Reconciliation of members' interests |
4 |
Notes to the abridged financial statements |
6 |
|
Abridged Statement of Comprehensive Income |
2024 |
2023 |
|
Note |
£ |
£ |
Gross profit |
|
|
Distribution costs |
|
|
|
Administrative expenses |
|
|
|
--------- |
--------- |
||
Operating profit |
4 |
|
|
--------- |
--------- |
|
Profit for the financial year before members' remuneration and profit shares available for discretionary division among members |
423,062 |
347,963 |
--------- |
--------- |
|
|
Abridged Statement of Financial Position |
2024 |
2023 |
|
Note |
£ |
£ |
Tangible assets |
5 |
|
|
Debtors |
|
|
Cash at bank and in hand |
|
|
------------ |
------------ |
|
|
|
|
Creditors: amounts falling due within one year |
|
|
------------ |
------------ |
|
Net current assets |
|
|
------------ |
------------ |
|
Total assets less current liabilities |
|
|
------------ |
------------ |
|
Net assets |
|
|
------------ |
------------ |
|
Members' capital classified as a liability |
6 |
2,600,000 |
2,600,000 |
Other amounts |
6 |
33,301 |
– |
------------ |
------------ |
||
2,633,301 |
2,600,000 |
||
------------ |
------------ |
||
Other reserves |
– |
– |
------------ |
------------ |
|
2,633,301 |
2,600,000 |
|
------------ |
------------ |
|
Amounts due from members |
(1,905) |
(442,254) |
|
Loans and other debts due to members |
6 |
2,633,301 |
2,600,000 |
Members' other interests |
– |
– |
|
------------ |
------------ |
||
2,631,396 |
2,157,746 |
||
------------ |
------------ |
||
|
Abridged Statement of Financial Position (continued) |
|
Designated Member |
|
Reconciliation of Members' Interests |
Members' other interests |
Loans and other debts due to members less any amounts due from members in debtors |
Total members' interests |
||||
Other reserves |
Total |
Members' capital (classified as debt) |
Other amounts |
Total |
Total 2024 |
|
£ |
£ |
£ |
£ |
£ |
£ |
|
Amounts due to members |
– |
– |
||||
Amounts due from members |
(94,291) |
(94,291) |
||||
-------- |
-------- |
|||||
Balance at 1 March 2023 |
– |
– |
– |
(94,291) |
(94,291) |
(94,291) |
Profit for the financial year available for discretionary division among members |
423,062 |
423,062 |
423,062 |
|||
--------- |
--------- |
---- |
-------- |
-------- |
--------- |
|
Members' interests after profit for the year |
423,062 |
423,062 |
– |
(94,291) |
(94,291) |
328,771 |
Other division of profits |
(423,062) |
(423,062) |
423,062 |
423,062 |
– |
|
Introduced by members |
– |
2,600,000 |
– |
2,600,000 |
2,600,000 |
|
Drawings |
(297,375) |
(297,375) |
(297,375) |
|||
--------- |
------------ |
|||||
Amounts due to members |
33,301 |
33,301 |
||||
Amounts due from members |
(1,905) |
(1,905) |
||||
--------- |
--------- |
------------ |
--------- |
------------ |
------------ |
|
Balance at 29 February 2024 |
– |
– |
2,600,000 |
31,396 |
2,631,396 |
2,631,396 |
--------- |
--------- |
------------ |
--------- |
------------ |
------------ |
|
|
Reconciliation of Members' Interests (continued) |
Members' other interests |
Loans and other debts due to members less any amounts due from members in debtors |
Total members' interests |
||||
Other reserves |
Total |
Members' capital (classified as debt) |
Other amounts |
Total |
Total 2023 |
|
£ |
£ |
£ |
£ |
£ |
£ |
|
Amounts due to members |
42,683 |
42,683 |
||||
Amounts due from members |
(13,658) |
(13,658) |
||||
-------- |
-------- |
|||||
Balance at 1 March 2022 |
– |
– |
– |
29,025 |
29,025 |
29,025 |
Profit for the financial year available for discretionary division among members |
347,963 |
347,963 |
347,963 |
|||
--------- |
--------- |
---- |
-------- |
-------- |
--------- |
|
Members' interests after profit for the year |
347,963 |
347,963 |
– |
29,025 |
29,025 |
376,988 |
Introduced by members |
– |
2,600,000 |
– |
2,600,000 |
2,600,000 |
|
Drawings |
(471,279) |
(471,279) |
(471,279) |
|||
--------- |
------------ |
|||||
Amounts due to members |
– |
– |
||||
Amounts due from members |
(442,254) |
(442,254) |
||||
--------- |
--------- |
------------ |
--------- |
------------ |
------------ |
|
Balance at 28 February 2023 |
347,963 |
347,963 |
2,600,000 |
(442,254) |
2,157,746 |
2,505,709 |
--------- |
--------- |
------------ |
--------- |
------------ |
------------ |
|
|
Notes to the Abridged Financial Statements |
1. |
General information |
2. |
Statement of compliance |
3. |
Accounting policies |
|
Notes to the Abridged Financial Statements (continued) |
4. |
Operating profit |
2024 |
2023 |
|
£ |
£ |
|
Depreciation of tangible assets |
|
|
-------- |
--------- |
|
5. |
Tangible assets |
£ |
|
Cost |
|
At 1 March 2023 |
|
Additions |
|
Disposals |
(
|
--------- |
|
At 29 February 2024 |
|
--------- |
|
Depreciation |
|
At 1 March 2023 |
|
Charge for the year |
|
Disposals |
(
|
--------- |
|
At 29 February 2024 |
|
--------- |
|
Carrying amount |
|
At 29 February 2024 |
351,673 |
--------- |
|
At 28 February 2023 |
434,098 |
--------- |
|
6. |
Loans and other debts due to members |
2024 |
2023 |
|
£ |
£ |
|
Amounts owed to members in respect of profits |
33,301 |
– |
Other amounts |
2,600,000 |
2,600,000 |
------------ |
------------ |
|
2,633,301 |
2,600,000 |
|
------------ |
------------ |
|