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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 |
Statement of cash flows |
7 |
Notes to the financial statements |
8 |
|
Members' Report |
|
Member |
Registered office: |
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Statement of Comprehensive Income |
Period from |
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1 Mar 23 to |
Year to |
||
31 Mar 24 |
28 Feb 23 |
||
Note |
£ |
£ |
|
Turnover |
4 |
|
|
Cost of sales |
|
|
--------- |
--------- |
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Gross profit |
|
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Administrative expenses |
|
|
|
--------- |
--------- |
||
Operating profit |
6 |
|
|
Interest payable and similar expenses |
7 |
– |
|
--------- |
--------- |
||
Profit for the financial period before members' remuneration and profit shares available for discretionary division among members |
45,950 |
23,521 |
|
--------- |
--------- |
||
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Statement of Financial Position |
31 Mar 24 |
28 Feb 23 |
|
Note |
£ |
£ |
Tangible assets |
8 |
|
|
Debtors |
9 |
|
|
Cash at bank and in hand |
|
|
|
-------- |
-------- |
||
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|
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Creditors: amounts falling due within one year |
10 |
|
|
-------- |
-------- |
||
Net current (liabilities)/assets |
(
|
|
|
------- |
-------- |
||
Total assets less current liabilities |
|
|
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---- |
-------- |
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Net assets |
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---- |
-------- |
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Other amounts |
11 |
483 |
17,092 |
---- |
-------- |
||
Other reserves, including the fair value reserve |
– |
– |
---- |
-------- |
|
483 |
17,092 |
|
---- |
-------- |
|
Amounts due from members |
(174) |
– |
|
Loans and other debts due to members |
11 |
483 |
17,092 |
Members' other interests |
– |
– |
|
---- |
-------- |
||
309 |
17,092 |
||
---- |
-------- |
||
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Statement of Financial Position (continued) |
|
Member |
|
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 |
|||
Other reserves, including the fair value reserve |
Total |
Other amounts |
Total |
Total 31 Mar 24 |
|
£ |
£ |
£ |
£ |
£ |
|
Amounts due to members |
54,246 |
54,246 |
|||
Amounts due from members |
– |
– |
|||
-------- |
-------- |
||||
Balance at 1 March 2023 |
– |
– |
54,246 |
54,246 |
54,246 |
Profit for the financial period available for discretionary division among members |
45,950 |
45,950 |
45,950 |
||
-------- |
-------- |
-------- |
-------- |
--------- |
|
Members' interests after profit for the period |
45,950 |
45,950 |
54,246 |
54,246 |
100,196 |
Other division of profits |
(45,950) |
(45,950) |
45,950 |
45,950 |
– |
Drawings |
(99,887) |
(99,887) |
(99,887) |
||
-------- |
-------- |
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Amounts due to members |
483 |
483 |
|||
Amounts due from members |
(174) |
(174) |
|||
-------- |
-------- |
-------- |
-------- |
--------- |
|
Balance at 31 March 2024 |
– |
– |
309 |
309 |
309 |
-------- |
-------- |
-------- |
-------- |
--------- |
|
|
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 |
|||
Other reserves, including the fair value reserve |
Total |
Other amounts |
Total |
Total 2023 |
|
£ |
£ |
£ |
£ |
£ |
|
Balance at 1 March 2022 |
– |
– |
28,538 |
28,538 |
28,538 |
Profit for the financial year available for discretionary division among members |
23,521 |
23,521 |
23,521 |
||
-------- |
-------- |
-------- |
-------- |
-------- |
|
Members' interests after profit for the year |
23,521 |
23,521 |
28,538 |
28,538 |
52,059 |
Other division of profits |
(23,521) |
(23,521) |
23,521 |
23,521 |
– |
Drawings |
(34,967) |
(34,967) |
(34,967) |
||
-------- |
-------- |
-------- |
-------- |
-------- |
|
Balance at 28 February 2023 |
– |
– |
17,092 |
17,092 |
17,092 |
-------- |
-------- |
-------- |
-------- |
-------- |
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Statement of Cash Flows |
31 Mar 24 |
28 Feb 23 |
|
£ |
£ |
|
Profit for the financial period |
|
23,521 |
Adjustments for: |
||
Depreciation of tangible assets |
2,871
|
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Interest payable and similar expenses |
– |
|
Accrued (income)/expenses |
(
|
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Changes in: |
||
Trade and other debtors |
|
(
|
-------- |
-------- |
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Cash generated from operations |
|
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Interest paid |
– |
(
|
-------- |
-------- |
|
Net cash from operating activities |
|
|
-------- |
-------- |
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Purchase of tangible assets |
|
(
|
-------- |
-------- |
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Net cash from/(used in) investing activities |
|
(
|
-------- |
-------- |
|
Payments to members representing a return on amounts subscribed or otherwise contributed |
(99,887) |
(34,967) |
-------- |
-------- |
|
Net cash used in financing activities |
(
|
(
|
-------- |
-------- |
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Net decrease in cash and cash equivalents |
(
|
(
|
Cash and cash equivalents at beginning of period |
1,002 |
– |
-------- |
-------- |
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Cash and cash equivalents at end of period |
(
|
(
|
-------- |
-------- |
|
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Notes to the Financial Statements |
1. |
General information |
2. |
Statement of compliance |
3. |
Accounting policies |
4. |
Turnover |
5. |
Staff costs |
31 Mar 24 |
28 Feb 23 |
|
No. |
No. |
|
Period from |
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1 Mar 23 to |
Year to |
|
31 Mar 24 |
28 Feb 23 |
|
£ |
£ |
|
Wages and salaries |
|
|
Other pension costs |
|
– |
------- |
-------- |
|
|
|
|
------- |
-------- |
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6. |
Operating profit |
Period from |
||
1 Mar 23 to |
Year to |
|
31 Mar 24 |
28 Feb 23 |
|
£ |
£ |
|
Depreciation of tangible assets |
|
|
Impairment of trade debtors |
– |
6,951 |
Foreign exchange differences |
|
(
|
------- |
------- |
|
7. |
Interest payable and similar expenses |
Period from |
||
1 Mar 23 to |
Year to |
|
31 Mar 24 |
28 Feb 23 |
|
£ |
£ |
|
Interest on banks loans and overdrafts |
– |
|
---- |
---- |
|
8. |
Tangible assets |
Fixtures and fittings |
Equipment |
Total |
|
£ |
£ |
£ |
|
Cost |
|||
At 1 March 2023 |
|
|
|
Additions |
|
(
|
(
|
-------- |
------- |
-------- |
|
At 31 March 2024 |
|
|
|
-------- |
------- |
-------- |
|
Depreciation |
|||
At 1 March 2023 |
|
|
|
Charge for the period |
|
– |
|
-------- |
------- |
-------- |
|
At 31 March 2024 |
|
|
|
-------- |
------- |
-------- |
|
Carrying amount |
|||
At 31 March 2024 |
|
|
|
-------- |
------- |
-------- |
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At 28 February 2023 |
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|
6,190
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-------- |
------- |
-------- |
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9. |
Debtors |
31 Mar 24 |
28 Feb 23 |
|
£ |
£ |
|
Trade debtors |
|
– |
Prepayments and accrued income |
|
|
Amounts due from members |
174 |
– |
-------- |
-------- |
|
|
|
|
-------- |
-------- |
|
31 Mar 24 |
28 Feb 23 |
|
£ |
£ |
|
Accruals and deferred income |
|
|
-------- |
-------- |
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11. |
Loans and other debts due to members |
31 Mar 24 |
28 Feb 23 |
|
£ |
£ |
|
Amounts owed to members in respect of profits |
483 |
17,092 |
---- |
-------- |
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12. |
Analysis of changes in net debt |
At 1 Mar 2023 |
Cash flows |
At 31 Mar 2024 |
|
£ |
£ |
£ |
|
Cash at bank and in hand |
|
(995) |
|
------- |
---- |
---- |
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Net debt (before members' debt) |
1,002 |
(995) |
7 |
------- |
---- |
---- |
|
Loans and other debts due to members |
|||
Other amounts |
(17,092) |
16,609 |
(483) |
-------- |
-------- |
---- |
|
Net debt |
(
|
|
(
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-------- |
-------- |
---- |
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