Registered number
00190908
Swansea Masonic Hall Company Limited
Filleted Accounts
30 June 2024
Cross & Bowen
Chartered Certified Accountants
Riverside House
Normandy Road
Swansea
SA1 2JA
Swansea Masonic Hall Company Limited
Registered number: 00190908
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 230,290 234,192
Current assets
Stocks 1,534 4,695
Debtors 4 9,953 4,369
Cash at bank and in hand 139,031 158,625
150,518 167,689
Creditors: amounts falling due within one year 5 (41,660) (70,855)
Net current assets 108,858 96,834
Total assets less current liabilities 339,148 331,026
Creditors: amounts falling due after more than one year 6 (12,468) (22,003)
Provisions for liabilities (9,455) (9,455)
Net assets 317,225 299,568
Capital and reserves
Called up share capital 2,400 2,400
Profit and loss account 314,825 297,168
Shareholders' funds 317,225 299,568
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
K.M. George
Director
Approved by the board on 15 February 2025
Swansea Masonic Hall Company Limited
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold frontage 2% straight line
Plant and machinery 10% - 20% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 2
3 Tangible fixed assets
Land and buildings Plant and machinery etc Building improvements Total
£ £ £ £
Cost
At 1 July 2023 111,165 116,809 123,263 351,237
Additions - 1,019 - 1,019
At 30 June 2024 111,165 117,828 123,263 352,256
Depreciation
At 1 July 2023 17,145 99,900 - 117,045
Charge for the year 714 4,207 - 4,921
At 30 June 2024 17,859 104,107 - 121,966
Net book value
At 30 June 2024 93,306 13,721 123,263 230,290
At 30 June 2023 94,020 16,909 123,263 234,192
4 Debtors 2024 2023
£ £
Trade debtors 2,532 (3,277)
Other debtors 7,421 7,646
9,953 4,369
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 27,948 8,333
Trade creditors 10,194 9,137
Taxation and social security costs 2,643 23,611
Other creditors 875 29,774
41,660 70,855
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 12,468 22,003
7 Provisions 2024 2023
£ £
At July 2023 9,455 9,455
At June 2024 9,455 9,455
8 Other information
Swansea Masonic Hall Company Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is:
152 St Helens Road
Swansea
SA1 4DF
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