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REGISTERED NUMBER: 00854236 (England and Wales)











CORBY SILVER BAND CLUB LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






CORBY SILVER BAND CLUB LIMITED (REGISTERED NUMBER: 00854236)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Balance Sheet 1

Notes to the Financial Statements 3


CORBY SILVER BAND CLUB LIMITED (REGISTERED NUMBER: 00854236)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 508,427 521,227

CURRENT ASSETS
Stocks 5,596 9,205
Prepayments and accrued income 3,223 10,333
Cash at bank and in hand 111,286 69,746
120,105 89,284
CREDITORS
Amounts falling due within one year 5 31,271 30,815
NET CURRENT ASSETS 88,834 58,469
TOTAL ASSETS LESS CURRENT
LIABILITIES

597,261

579,696

ACCRUALS AND DEFERRED INCOME 19,054 4,284
NET ASSETS 578,207 575,412

RESERVES
Income and expenditure account 578,207 575,412
578,207 575,412

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

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.

CORBY SILVER BAND CLUB LIMITED (REGISTERED NUMBER: 00854236)

BALANCE SHEET - continued
31 MARCH 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 19 June 2024 and were signed on its behalf by:





J Smith - Director


CORBY SILVER BAND CLUB LIMITED (REGISTERED NUMBER: 00854236)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Corby Silver Band Club Limited is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 00854236

Registered office: Unit 1
Denford Road
Corby
Northamptonshire
NN17 2QW

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A
These financial statements for the year ended 31 March 2024 are the first that are prepared in accordance with FRS 102 Section 1A. The previous financial statements were prepared in accordance with UK GAAP, the date of transition to FRS 102 Section 1A is 1 April 2022.

Turnover
Turnover represents amounts (excluding value added tax) derived from the provision of goods and services to customers during the year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - in accordance with the property
Improvements to property - in accordance with the property
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 10% on reducing balance
Band Instruments - 10% on reducing balance

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Debtors and creditors
Debtors receivable / creditors payable within one year are measured at transaction price (less any impairment losses on debtors for bad and doubtful debts). Loans and other financial assets / liabilities are initially measured at transaction price and subsequently measured at amortised cost determined using the effective interest method (less any impairment losses on debtors) for bad and doubtful debts.

Any losses arising from impairment are recognised in the profit and loss account.


CORBY SILVER BAND CLUB LIMITED (REGISTERED NUMBER: 00854236)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to surplus or deficit on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 15 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Long to Plant and
leasehold property machinery
£    £    £   
COST
At 1 April 2023
and 31 March 2024 197,399 558,096 126,553
DEPRECIATION
At 1 April 2023 105,847 151,286 115,923
Charge for year 2,467 6,977 2,130
At 31 March 2024 108,314 158,263 118,053
NET BOOK VALUE
At 31 March 2024 89,085 399,833 8,500
At 31 March 2023 91,552 406,810 10,630

CORBY SILVER BAND CLUB LIMITED (REGISTERED NUMBER: 00854236)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. TANGIBLE FIXED ASSETS - continued

Fixtures
and Band
fittings Instruments Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 126,966 54,267 1,063,281
DEPRECIATION
At 1 April 2023 118,233 50,765 542,054
Charge for year 875 351 12,800
At 31 March 2024 119,108 51,116 554,854
NET BOOK VALUE
At 31 March 2024 7,858 3,151 508,427
At 31 March 2023 8,733 3,502 521,227

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 15,809 18,549
Taxation and social security 12,964 10,290
Other creditors 2,498 1,976
31,271 30,815