REGISTERED COMPANY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 31 July 2024 |
for |
LAU GAR LIMITED |
(A COMPANY LIMITED BY GUARANTEE) |
REGISTERED COMPANY NUMBER: |
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 |
Registered Charity number |
Registered office |
Trustees |
Company Secretary |
Approved by order of the board of trustees on |
LAU GAR LIMITED (REGISTERED NUMBER: 07309421) |
Report of the Trustees |
for the Year Ended 31 July 2024 |
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 |
EXPENDITURE ON |
Charitable activities |
Other |
Total |
NET INCOME/(EXPENDITURE) | ( | ) | ( | ) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 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 |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 | ( | ) | ( | ) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 9 |
Unrestricted funds | 68,071 |
TOTAL FUNDS | 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. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
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 |
|
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 | - |
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
2. | INVESTMENT INCOME |
31.7.24 | 31.7.23 |
£ | £ |
Deposit account interest |
3. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
31.7.24 | 31.7.23 |
£ | £ |
Depreciation - owned assets |
Patents and licences amortisation |
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 |
EXPENDITURE ON |
Charitable activities |
Other |
Total |
NET INCOME/(EXPENDITURE) | ( | ) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
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 |
DEPRECIATION |
At 1 August 2023 |
Charge for year |
At 31 July 2024 |
NET BOOK VALUE |
At 31 July 2024 |
At 31 July 2023 |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.24 | 31.7.23 |
£ | £ |
Trade creditors | ( | ) |
Other creditors |
Accruals and deferred income |
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 | (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 | ( | ) | (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 |