Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-30true2023-07-01falseNo description of principal activity2020trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 00757412 2023-07-01 2024-06-30 00757412 2022-07-01 2023-06-30 00757412 2024-06-30 00757412 2023-06-30 00757412 c:Director3 2023-07-01 2024-06-30 00757412 c:Director4 2023-07-01 2024-06-30 00757412 d:Buildings 2024-06-30 00757412 d:Buildings 2023-06-30 00757412 d:Buildings d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 00757412 d:FurnitureFittings 2023-07-01 2024-06-30 00757412 d:FurnitureFittings 2024-06-30 00757412 d:FurnitureFittings 2023-06-30 00757412 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 00757412 d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 00757412 d:CurrentFinancialInstruments 2024-06-30 00757412 d:CurrentFinancialInstruments 2023-06-30 00757412 d:Non-currentFinancialInstruments 2024-06-30 00757412 d:Non-currentFinancialInstruments 2023-06-30 00757412 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 00757412 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 00757412 d:Non-currentFinancialInstruments d:AfterOneYear 2024-06-30 00757412 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 00757412 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-06-30 00757412 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-06-30 00757412 d:ShareCapital 2024-06-30 00757412 d:ShareCapital 2023-06-30 00757412 d:RetainedEarningsAccumulatedLosses 2024-06-30 00757412 d:RetainedEarningsAccumulatedLosses 2023-06-30 00757412 c:OrdinaryShareClass1 2023-07-01 2024-06-30 00757412 c:OrdinaryShareClass1 2024-06-30 00757412 c:OrdinaryShareClass1 2023-06-30 00757412 c:FRS102 2023-07-01 2024-06-30 00757412 c:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 00757412 c:FullAccounts 2023-07-01 2024-06-30 00757412 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 00757412 2 2023-07-01 2024-06-30 00757412 e:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 00757412









SOUTHGATE MASONIC CENTRE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
SOUTHGATE MASONIC CENTRE LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SOUTHGATE MASONIC CENTRE LIMITED
FOR THE YEAR ENDED 30 JUNE 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of SOUTHGATE MASONIC CENTRE LIMITED for the year ended 30 June 2024 which comprise  the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

It is your duty to ensure that SOUTHGATE MASONIC CENTRE LIMITED has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of SOUTHGATE MASONIC CENTRE LIMITED. You consider that SOUTHGATE MASONIC CENTRE LIMITED is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of SOUTHGATE MASONIC CENTRE LIMITED. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Hurkan Sayman & Co
Chartered Accountants
291 Green Lanes
Palmers Green
London
N13 4XS
13 March 2025
Page 1

 
SOUTHGATE MASONIC CENTRE LIMITED
REGISTERED NUMBER: 00757412

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
598,159
600,004

  
598,159
600,004

Current assets
  

Stocks
  
5,361
6,328

Debtors: amounts falling due within one year
 5 
3,000
-

Cash at bank and in hand
 6 
8,118
21,563

  
16,479
27,891

Creditors: amounts falling due within one year
 7 
(65,680)
(18,525)

Net current (liabilities)/assets
  
 
 
(49,201)
 
 
9,366

Total assets less current liabilities
  
548,958
609,370

Creditors: amounts falling due after more than one year
 8 
(1,250)
(5,250)

  

Net assets
  
547,708
604,120


Capital and reserves
  

Called up share capital 
  
590,390
590,390

Profit and loss account
  
(42,682)
13,730

  
547,708
604,120


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 13 March 2025.
Page 2

 
SOUTHGATE MASONIC CENTRE LIMITED
REGISTERED NUMBER: 00757412
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024


M J Rye OBE
P M A Lovell MBE
Director
Director

The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
SOUTHGATE MASONIC CENTRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Southgate Masonic Centre Limited is a private company, limited by shares, registered in England and Wales, company number 00757412. The company's registered office is 88 High Street, London N14 6EB

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis, which assumes that the company will continue in operational existence for the foreseeable future, being a period of at least 12 months from the date of approval of these financial statements. In making their assessment, the directors have considered the company's current financial position, including its cash flow forecasts, liquidity and funding requirements. The company has reported a net loss of £56,411 for the year ended 30 June 2024 and has net current liabilities of £49,201 as at 30 June 2024. The ability of the company to continue as a going concern is dependent of the continued financial support of Metropolitan Grand Lodge of London and Middlesex Masonic Development Fund Limited.

Page 4

 
SOUTHGATE MASONIC CENTRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 5

 
SOUTHGATE MASONIC CENTRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Freehold land and buildings are not depreciated and are regularly reviewed for signs of impairment.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
reducung balance basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 6

 
SOUTHGATE MASONIC CENTRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 20 (2023 - 20).


4.


Tangible fixed assets





Freehold property
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 July 2023
592,623
190,537
783,160



At 30 June 2024

592,623
190,537
783,160



Depreciation


At 1 July 2023
-
183,156
183,156


Charge for the year on owned assets
-
1,845
1,845



At 30 June 2024

-
185,001
185,001



Net book value



At 30 June 2024
592,623
5,536
598,159



At 30 June 2023
592,623
7,381
600,004


5.


Debtors

2024
2023
£
£

Page 7

 
SOUTHGATE MASONIC CENTRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

5.Debtors (continued)


Staff loan
3,000
-

3,000
-



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
8,118
21,563

8,118
21,563



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

MMDF loan
4,000
4,000

Trade creditors
-
(1)

Other taxation and social security
50,921
11,758

Other creditors
8,464
2,463

Accruals and deferred income
2,295
305

65,680
18,525



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

MMDF loan
1,250
5,250

1,250
5,250


Page 8

 
SOUTHGATE MASONIC CENTRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

MMDF loan
4,000
4,000


4,000
4,000

Amounts falling due 1-2 years

MMDF loan
1,250
5,250


1,250
5,250



5,250
9,250



10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



590,390 (2023 - 590,390) Ordinary shares of £1.00 each
590,390
590,390



11.


Pension commitments

The company operates a defined contribution scheme. The assets of the scheme are held seperately from those of the company in an independently administered fund. The pension charge represents contributions payable by the company to the fund and amounted to £1,267. Contributions totallng £220.18 (2023: £284) were payable to the fund at the balance sheet date and are included in creditors.

 
Page 9