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Registration number: 00171430

Burnley Masonic Hall Company Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

Burnley Masonic Hall Company Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Burnley Masonic Hall Company Limited

Company Information

Chairman

Mr Clifford Foster

Directors

Mr Allan Cunliffe

Mr Allan Bradshaw

Mr Richard Sagar

Mr Colin Barton

Mr Leslie Latcham

Mr Chris Thompson

Mr Squire Lavin

Mr James Cannon

Company secretary

Mr Colin Berry

Registered office

Masonic Hall
Nelson Square
Burnley
Lancashire
BB11 1LA

Accountants

Hughes Accountants Limited
AAT Qualified Accountant
Ground Floor Unit 8, Vantage Court
Riverside Way
Barrowford
Nelson
Lancashire
BB9 6BP

 

Burnley Masonic Hall Company Limited

(Registration number: 00171430)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

402,286

402,690

Current assets

 

Debtors

5

707

120

Cash at bank and in hand

 

13,303

21,201

 

14,010

21,321

Creditors: Amounts falling due within one year

6

(18,525)

(21,717)

Net current liabilities

 

(4,515)

(396)

Net assets

 

397,771

402,294

Capital and reserves

 

Called up share capital

7

500

500

Retained earnings

397,271

401,794

Shareholders' funds

 

397,771

402,294

For the financial year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 12 November 2024 and signed on its behalf by:
 

.........................................
Mr Clifford Foster
Chairman

 

Burnley Masonic Hall Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Masonic Hall
Nelson Square
Burnley
Lancashire
BB11 1LA

These financial statements were authorised for issue by the Board on 12 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold land and buildings

At variable rates of reducing balance

Plant and machinery

15% reducing balance

 

Burnley Masonic Hall Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

 

Burnley Masonic Hall Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

4

Tangible assets

Land and buildings
£

Other tangible assets
£

Total
£

Cost or valuation

At 1 June 2023

400,000

91,526

491,526

At 31 May 2024

400,000

91,526

491,526

Depreciation

At 1 June 2023

-

88,836

88,836

Charge for the year

-

404

404

At 31 May 2024

-

89,240

89,240

Carrying amount

At 31 May 2024

400,000

2,286

402,286

At 31 May 2023

400,000

2,690

402,690

Included within the net book value of land and buildings above is £400,000 (2023 - £400,000) in respect of freehold land and buildings.
 

5

Debtors

Current

2024
£

2023
£

Trade debtors

573

120

Other debtors

134

-

 

707

120

 

Burnley Masonic Hall Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

7,200

10,800

Accruals and deferred income

 

1,800

74

Other creditors

 

9,525

10,843

 

18,525

21,717

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

500

500

500

500

         

8

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Bank borrowings

7,200

10,800