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REGISTERED COMPANY NUMBER: 07309421 (England and Wales)












Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 July 2024

for


LAU GAR LIMITED

(A COMPANY LIMITED BY GUARANTEE)



LAU GAR LIMITED



Contents of the Financial Statements

for the Year Ended 31 July 2024












Page



Report of the Trustees  

1


to


2


Statement of Financial Activities  

3



Balance Sheet  

4



Notes to the Financial Statements  

5


to


9



LAU GAR LIMITED (REGISTERED NUMBER: 07309421)



Report of the Trustees

for the Year Ended 31 July 2024




The directors are pleased to present their annual report together with the financial

statements of the charity for the year ended 31 July 2024.


OBJECTIVES AND ACTIVITIES

Objectives and aims

The objectives of the charity are the promotion of community participation in healthy recreation, in particular by the provision of financial support for any activities that will fulfil the objectives of the charity, principally to advance the education of the public in Chinese martial arts.

Public benefit

The Trustees consider that the charitable aims stated above will benefit the public by means of improving both the mental and physical health of the participants. The Trustees are conscious of the need to ensure that the benefits from its activities continue to relate to the charity's aims, and continually monitor events and activities with this in mind. This includes reference to the Charity Commission's guidance on public benefit.

FINANCIAL REVIEW

Financial position

The charity's financial position is broadly unchanged since the end of the previous reporting period. The company has retained funds with a view to providing financial support to suitable applicants for the foreseeable future.


STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The organisation is a charity limited by guarantee, incorporated on 9 July 2010 and registered as a charity on 30 July 2012. The company was established under its Memorandum of Association and is governed under its Articles of Association.


Recruitment and appointment of new trustees

The directors of the company are also trustees. One third of the directors must retire, in rotation, at successive Annual Meetings. New directors may be appointed by ordinary resolution, notwithstanding that the existing directors may appoint a new director, but that such directors will be subject to retirement and re-appointment at the next Annual Meeting.

Decision making

The directors are responsible, subject to the conditions laid down in the Articles of Association, for making decisions affecting the charity.


Key management remuneration

The directors must not be paid any remuneration, other than as authorised under article 7.


REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

07309421 (England and Wales)


Registered Charity number

1148347


Registered office

Telegraph House

59 Wolverhampton Road

Stafford

ST17 4AW


Trustees

S V Hunt Director

W P Hornby Director

J Russell Director


Company Secretary

W P Hornby


Approved by order of the board of trustees on 27 November 2024 and signed on its behalf by:






LAU GAR LIMITED (REGISTERED NUMBER: 07309421)



Report of the Trustees

for the Year Ended 31 July 2024





W P Hornby - Trustee



LAU GAR LIMITED



Statement of Financial Activities

for the Year Ended 31 July 2024



31.7.24


31.7.23


Unrestricted


Total


fund


funds


Notes

£   

£   


INCOME AND ENDOWMENTS FROM


Investment income

2

2,387


649



EXPENDITURE ON

Charitable activities

Fundraising events

9,309


9,082



Other

971


760


Total

10,280


9,842



NET INCOME/(EXPENDITURE)

(7,893

)

(9,193

)



RECONCILIATION OF FUNDS

Total funds brought forward

68,071


77,264



TOTAL FUNDS CARRIED FORWARD

60,178


68,071




LAU GAR LIMITED (REGISTERED NUMBER: 07309421)



Balance Sheet

31 July 2024



31.7.24


31.7.23


Unrestricted


Total


fund


funds


Notes

£   

£   


FIXED ASSETS


Intangible assets

6

3,058


-


Tangible assets

7

581


683


3,639


683



CURRENT ASSETS


Cash at bank

61,699


71,735



CREDITORS


Amounts falling due within one year

8

(5,160

)

(4,347

)


NET CURRENT ASSETS

56,539


67,388



TOTAL ASSETS LESS CURRENT LIABILITIES

60,178


68,071



NET ASSETS

60,178


68,071


FUNDS

9

Unrestricted funds

60,178


68,071


TOTAL FUNDS

60,178


68,071



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


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


The trustees acknowledge their responsibilities for
(a)ensuring that the charitable company keeps accounting records that 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 charitable 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 charitable company.

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




The financial statements were approved by the Board of Trustees and authorised for issue on 27 November 2024 and were signed on its behalf by:






W P Hornby - Trustee



LAU GAR LIMITED



Notes to the Financial Statements

for the Year Ended 31 July 2024



1.

ACCOUNTING POLICIES



Basis of preparing the financial statements


The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.



Income


All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.



Expenditure


Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.



Patents and licences


Patents and licences are being amortised on a 10% straight line basis.



Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.



Plant and machinery

-

15% on reducing balance



Taxation

The charity is exempt from corporation tax on its charitable activities.

2.

INVESTMENT INCOME


31.7.24


31.7.23

£   

£   



Deposit account interest

2,387


649




3.

NET INCOME/(EXPENDITURE)



Net income/(expenditure) is stated after charging/(crediting):




31.7.24


31.7.23

£   

£   



Depreciation - owned assets

102


121




Patents and licences amortisation

110


-






LAU GAR LIMITED



Notes to the Financial Statements - continued

for the Year Ended 31 July 2024



4.

TRUSTEES' REMUNERATION AND BENEFITS


There were no trustees' remuneration or other benefits for the year ended 31 July 2024 nor for the year ended 31 July 2023.



Trustees' expenses



No expenses were paid to trustees during the current year or in the previous year.


5.

COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES


Unrestricted


fund

£   



INCOME AND ENDOWMENTS FROM



Investment income

649




EXPENDITURE ON


Charitable activities


Fundraising events

9,082




Other

760



Total

9,842




NET INCOME/(EXPENDITURE)

(9,193

)




RECONCILIATION OF FUNDS


Total funds brought forward

77,264




TOTAL FUNDS CARRIED FORWARD

68,071



6.

INTANGIBLE FIXED ASSETS


Patents


and


licences

£   



COST


Additions

3,168




AMORTISATION


Charge for year

110




NET BOOK VALUE


At 31 July 2024

3,058




At 31 July 2023

-






LAU GAR LIMITED



Notes to the Financial Statements - continued

for the Year Ended 31 July 2024



7.

TANGIBLE FIXED ASSETS


Plant and


machinery

£   



COST


At 1 August 2023 and 31 July 2024

1,843




DEPRECIATION


At 1 August 2023

1,160




Charge for year

102




At 31 July 2024

1,262




NET BOOK VALUE


At 31 July 2024

581




At 31 July 2023

683




8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR


31.7.24


31.7.23

£   

£   



Trade creditors

(1

)

121




Other creditors

-


59




Accruals and deferred income

5,161


4,167



5,160


4,347




9.

MOVEMENT IN FUNDS


Net




movement


At



At 1.8.23


in funds


31.7.24


£   

£   

£   



Unrestricted funds


General fund

68,071


(7,893

)

60,178





TOTAL FUNDS

68,071


(7,893

)

60,178





Net movement in funds, included in the above are as follows:



Incoming


Resources


Movement



resources


expended


in funds


£   

£   

£   



Unrestricted funds


General fund

2,387


(10,280

)

(7,893

)




TOTAL FUNDS

2,387


(10,280

)

(7,893

)





LAU GAR LIMITED



Notes to the Financial Statements - continued

for the Year Ended 31 July 2024



9.

MOVEMENT IN FUNDS - continued



Comparatives for movement in funds



Net




movement


At



At 1.8.22


in funds


31.7.23


£   

£   

£   



Unrestricted funds


General fund

77,264


(9,193

)

68,071





TOTAL FUNDS

77,264


(9,193

)

68,071





Comparative net movement in funds, included in the above are as follows:



Incoming


Resources


Movement



resources


expended


in funds


£   

£   

£   



Unrestricted funds


General fund

649


(9,842

)

(9,193

)




TOTAL FUNDS

649


(9,842

)

(9,193

)




A current year 12 months and prior year 12 months combined position is as follows:



Net




movement


At



At 1.8.22


in funds


31.7.24


£   

£   

£   



Unrestricted funds


General fund

77,264


(17,086

)

60,178





TOTAL FUNDS

77,264


(17,086

)

60,178





A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:



Incoming


Resources


Movement



resources


expended


in funds


£   

£   

£   



Unrestricted funds


General fund

3,036


(20,122

)

(17,086

)




TOTAL FUNDS

3,036


(20,122

)

(17,086

)





LAU GAR LIMITED



Notes to the Financial Statements - continued

for the Year Ended 31 July 2024



10.

RELATED PARTY DISCLOSURES



There were no related party transactions for the year ended 31 July 2024.