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Financial Statements |
Contents |
Page |
Members' report |
1 |
Statement of comprehensive income |
2 |
Statement of financial position |
3 |
Reconciliation of members' interests |
5 |
Notes to the financial statements |
7 |
Chartered accountant's report to the members on the preparation of the unaudited statutory financial statements |
11 |
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Members' Report |
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Designated Member |
Registered office: |
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Statement of Comprehensive Income |
2024 |
2023 |
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Note |
£ |
£ |
Administrative expenses |
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Other operating income |
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--------- |
--------- |
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Operating profit |
4 |
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Interest payable and similar expenses |
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--------- |
--------- |
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Profit for the financial year before members' remuneration and profit shares available for discretionary division among members |
66,645 |
57,221 |
--------- |
--------- |
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Statement of Financial Position |
2024 |
2023 |
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Note |
£ |
£ |
Tangible assets |
5 |
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Debtors |
6 |
– |
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Cash at bank and in hand |
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------- |
-------- |
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Creditors: amounts falling due within one year |
7 |
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-------- |
-------- |
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Net current liabilities |
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------------ |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
8 |
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Net assets |
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Other amounts |
9 |
1,720,123 |
1,841,527 |
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Other reserves |
– |
– |
------------ |
------------ |
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1,720,123 |
1,841,527 |
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Loans and other debts due to members |
9 |
1,720,123 |
1,841,527 |
Members' other interests |
– |
– |
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------------ |
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1,720,123 |
1,841,527 |
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Statement of Financial Position (continued) |
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Designated Member |
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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 |
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Other reserves |
Total |
Other amounts |
Total |
Total 2024 |
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£ |
£ |
£ |
£ |
£ |
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Balance at 1 March 2023 |
– |
– |
1,841,526 |
1,841,526 |
1,841,526 |
Profit for the financial year available for discretionary division among members |
66,645 |
66,645 |
66,645 |
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-------- |
-------- |
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------------ |
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Members' interests after profit for the year |
66,645 |
66,645 |
1,841,526 |
1,841,526 |
1,908,171 |
Other division of profits |
(66,645) |
(66,645) |
66,645 |
66,645 |
– |
Introduced by members |
– |
– |
– |
– |
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Repayments of debt |
(188,048) |
(188,048) |
(188,048) |
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-------- |
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Balance at 29 February 2024 |
– |
– |
1,720,123 |
1,720,123 |
1,720,123 |
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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 |
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Other reserves |
Total |
Other amounts |
Total |
Total 2023 |
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£ |
£ |
£ |
£ |
£ |
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Balance at 1 March 2022 |
– |
– |
– |
– |
– |
Profit for the financial year available for discretionary division among members |
57,221 |
57,221 |
57,221 |
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-------- |
-------- |
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---- |
-------- |
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Members' interests after profit for the year |
57,221 |
57,221 |
– |
– |
57,221 |
Other division of profits |
(57,221) |
(57,221) |
57,221 |
57,221 |
– |
Introduced by members |
– |
3,691,276 |
3,691,276 |
3,691,276 |
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Repayments of debt |
(1,906,970) |
(1,906,970) |
(1,906,970) |
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Balance at 28 February 2023 |
– |
– |
1,841,527 |
1,841,527 |
1,841,527 |
-------- |
-------- |
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Notes to the Financial Statements |
1. |
General information |
2. |
Statement of compliance |
3. |
Accounting policies |
4. |
Operating profit |
2024 |
2023 |
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£ |
£ |
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Depreciation of tangible assets |
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– |
------- |
---- |
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5. |
Tangible assets |
Freehold property |
Motor vehicles |
Total |
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£ |
£ |
£ |
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Cost |
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At 1 March 2023 |
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– |
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Additions |
– |
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------- |
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At 29 February 2024 |
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------- |
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Depreciation |
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At 1 March 2023 |
– |
– |
– |
Charge for the year |
– |
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------- |
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At 29 February 2024 |
– |
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------- |
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Carrying amount |
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At 29 February 2024 |
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------------ |
------- |
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At 28 February 2023 |
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– |
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------- |
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6. |
Debtors |
2024 |
2023 |
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£ |
£ |
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Other debtors |
– |
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---- |
------- |
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2024 |
2023 |
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£ |
£ |
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Trade creditors |
– |
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Other creditors |
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-------- |
-------- |
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-------- |
-------- |
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2024 |
2023 |
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£ |
£ |
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Bank loans and overdrafts |
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------------ |
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9. |
Loans and other debts due to members |
2024 |
2023 |
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£ |
£ |
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Loans from members |
1,653,478 |
1,784,306 |
Amounts owed to members in respect of profits |
66,645 |
57,221 |
------------ |
------------ |
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1,720,123 |
1,841,527 |
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Management Information |
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Chartered Accountant's Report to the Members on the Preparation of the Unaudited Statutory Financial Statements of
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