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Registration number: 01794099

Norfolk Ski Club Limited(The)

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Norfolk Ski Club Limited(The)

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Norfolk Ski Club Limited(The)

Company Information

Directors

Mr E F Harden

Mr G Dudley

Mr N I F Watson

Mr H W Steward

Ms O G V Button

Mr D M Rich

Ms M Duly

Mr I Wilson

Mr K J Rhead

Ms D L Anstee

Mr E G Bellamy

Ms L R Alston

Registered office

Whitlingham Lane
Trowse
Norwich
NR14 8TW

Accountants

Perk Accounting Ltd Office, 31 Cattle Market Street
Norwich
Norfolk
NR1 3DY

 

Norfolk Ski Club Limited(The)

(Registration number: 01794099)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

103,492

108,493

Current assets

 

Stocks

5

2,450

2,450

Debtors

6

11,341

2,495

Cash at bank and in hand

 

243,465

261,856

 

257,256

266,801

Creditors: Amounts falling due within one year

7

(96,069)

(109,324)

Net current assets

 

161,187

157,477

Total assets less current liabilities

 

264,679

265,970

Creditors: Amounts falling due after more than one year

7

(12,500)

(22,500)

Net assets

 

252,179

243,470

Capital and reserves

 

Retained earnings

252,179

243,470

Shareholders' funds

 

252,179

243,470

For the financial year ending 30 April 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 and 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 27 January 2025 and signed on its behalf by:
 

.........................................
Mr N I F Watson
Director

 

Norfolk Ski Club Limited(The)

Notes to the Unaudited Financial Statements for the Year Ended 30 April 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:
Whitlingham Lane
Trowse
Norwich
NR14 8TW

These financial statements were authorised for issue by the Board on 27 January 2025.

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.

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

Other equipment

5 years straight line

Leasehold improvement

Over the expected term of the lease

Ski slope and lifts

7 years straight line

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.

 

Norfolk Ski Club Limited(The)

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 71 (2023 - 87).

 

Norfolk Ski Club Limited(The)

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 May 2023

721,136

370,532

1,351,703

2,443,371

Additions

-

24,554

-

24,554

At 30 April 2024

721,136

395,086

1,351,703

2,467,925

Depreciation

At 1 May 2023

627,048

356,128

1,351,702

2,334,878

Charge for the year

23,532

6,023

-

29,555

At 30 April 2024

650,580

362,151

1,351,702

2,364,433

Carrying amount

At 30 April 2024

70,556

32,935

1

103,492

At 30 April 2023

94,088

14,404

1

108,493

Included within the net book value of land and buildings above is £70,556 (2023 - £94,088) in respect of long leasehold land and buildings.
 

5

Stocks

2024
£

2023
£

Other inventories

2,450

2,450

6

Debtors

Current

2024
£

2023
£

Prepayments

-

2,495

Other debtors

11,341

-

 

11,341

2,495

 

Norfolk Ski Club Limited(The)

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

10,000

10,000

Trade creditors

 

13,437

14,275

Taxation and social security

 

24,452

45,650

Accruals and deferred income

 

30,939

28,557

Other creditors

 

17,241

10,842

 

96,069

109,324

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

12,500

22,500

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

12,500

22,500

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,000

10,000