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COMPANY REGISTRATION NUMBER: 04159068
Taunton Vineyard Church
Company Limited by Guarantee
Filleted Unaudited Financial Statements
31 August 2024
Taunton Vineyard Church
Company Limited by Guarantee
Statement of Financial Position
31 August 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
6
275,583
256,014
Current assets
Debtors
7
1,990
2,362
Cash at bank and in hand
115,136
93,974
---------
--------
117,126
96,336
Creditors: amounts falling due within one year
8
2,172
1,963
---------
--------
Net current assets
114,954
94,373
---------
---------
Total assets less current liabilities
390,537
350,387
Creditors: amounts falling due after more than one year
9
94,464
101,594
---------
---------
Net assets
296,073
248,793
---------
---------
Taunton Vineyard Church
Company Limited by Guarantee
Statement of Financial Position (continued)
31 August 2024
2024
2023
Note
£
£
£
Capital and reserves
Profit and loss account
296,073
248,793
---------
---------
Members funds
296,073
248,793
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 August 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 18 December 2024 , and are signed on behalf of the board by:
Mr N J Webb
Director
Company registration number: 04159068
Taunton Vineyard Church
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 August 2024
1. General information
The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is 2 Chartfield House, Castle Street, Taunton, Somerset, TA1 4AS.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
The turnover shown in the income and expenditure account represents amounts received of charitable donations during the year.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
F&F and Equipment
-
15% reducing balance
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities and are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
4. Company limited by guarantee
The company is Limited by guarantee and hence has no share capital.
5. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2023: 4 ).
6. Tangible assets
Land and buildings
F&F and Equipment
Total
£
£
£
Cost
At 1 September 2023
249,902
36,750
286,652
Additions
18,842
1,933
20,775
---------
--------
---------
At 31 August 2024
268,744
38,683
307,427
---------
--------
---------
Depreciation
At 1 September 2023
30,638
30,638
Charge for the year
1,206
1,206
---------
--------
---------
At 31 August 2024
31,844
31,844
---------
--------
---------
Carrying amount
At 31 August 2024
268,744
6,839
275,583
---------
--------
---------
At 31 August 2023
249,902
6,112
256,014
---------
--------
---------
7. Debtors
2024
2023
£
£
Other debtors
1,990
2,362
-------
-------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Social security and other taxes
453
Other creditors
2,172
1,510
-------
-------
2,172
1,963
-------
-------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
94,464
101,594
--------
---------