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REGISTERED NUMBER: 04741706 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH JUNE 2024

FOR

KING'S LYNN MASONIC CENTRE LIMITED

KING'S LYNN MASONIC CENTRE LIMITED (REGISTERED NUMBER: 04741706)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2024










Page

Balance Sheet 1

Notes to the Financial Statements 2


KING'S LYNN MASONIC CENTRE LIMITED (REGISTERED NUMBER: 04741706)

BALANCE SHEET
30TH JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 383,618 396,741

CURRENT ASSETS
Stocks 5,239 5,245
Debtors 5 2,108 1,191
Cash at bank and in hand 58,074 83,306
65,421 89,742
CREDITORS
Amounts falling due within one year 6 37,923 33,807
NET CURRENT ASSETS 27,498 55,935
TOTAL ASSETS LESS CURRENT
LIABILITIES

411,116

452,676

CREDITORS
Amounts falling due after more than one year 7 (307,284 ) (334,651 )

PROVISIONS FOR LIABILITIES (3,128 ) (2,889 )
NET ASSETS 100,704 115,136

CAPITAL AND RESERVES
Called up share capital 900 900
Revaluation reserve 9 37,253 38,054
Retained earnings 62,551 76,182
SHAREHOLDERS' FUNDS 100,704 115,136

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which 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 company as at the end of each financial year and of its profit or loss 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 company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25th March 2025 and were signed on its behalf by:




Mr K T Turner - Director


KING'S LYNN MASONIC CENTRE LIMITED (REGISTERED NUMBER: 04741706)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2024


1. STATUTORY INFORMATION

King's Lynn Masonic Centre Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 04741706

Registered office: 9 Hamburg Way
North Lynn Industrial Estate
King's Lynn
Norfolk
PE30 2ND

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The turnover shown in the profit and loss account represents amounts receivable from sales and lettings during the period, net of value added tax. The company also received various donations which are included within 'other operating income'.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Fixtures and fittings - 15% on reducing balance

The directors have decided that in order to reflect more accurately the financial status of the company that the Freehold Property should be revalued periodically by suitable qualified person. In addition the directors will consider each year the value and report if in their opinion there is any impairment in the amount stated.

An amount equal to the excess of the annual depreciation charge on revalued assets over the notional historic cost depreciation charge on those assets is transferred annually from the revaluation reserve to the profit and loss account.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 7 ) .

KING'S LYNN MASONIC CENTRE LIMITED (REGISTERED NUMBER: 04741706)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2024


4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and
property fittings Totals
£    £    £   
COST OR VALUATION
At 1st July 2023
and 30th June 2024 530,636 88,896 619,532
DEPRECIATION
At 1st July 2023 150,632 72,159 222,791
Charge for year 10,612 2,511 13,123
At 30th June 2024 161,244 74,670 235,914
NET BOOK VALUE
At 30th June 2024 369,392 14,226 383,618
At 30th June 2023 380,004 16,737 396,741

The freehold property owned by the company was revalued on an existing use value basis in October 2006 by Messers Tawn Landles, Chartered Surveyors.

Cost or valuation at 30th June 2024 is represented by:

Fixtures
Freehold and
property fittings Totals
£    £    £   
Valuation in 2006 350,000 - 350,000
Cost 180,636 88,896 269,532
530,636 88,896 619,532

If freehold property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 490,569 490,569
Aggregate depreciation 158,431 148,620

Value of land in freehold land and buildings 332,138 341,949

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,632 617
Other debtors 96 217
Prepayments 380 357
2,108 1,191

KING'S LYNN MASONIC CENTRE LIMITED (REGISTERED NUMBER: 04741706)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,276 8,627
Trade creditors 1,518 3,462
Tax - 1,256
Social security and other taxes 193 66
VAT 4,343 4,341
Other creditors 8,478 8,656
Accruals and deferred income 13,115 7,399
37,923 33,807

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 2-5 years 46,044 53,388
Bank loans more 5 yr by instal 72,540 76,563
Unsecured loans 188,700 204,700
307,284 334,651

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 72,540 76,563

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 128,860 138,578

The bank loan is secured by a fixed and floating charge over the assets of the company.

9. RESERVES
Revaluation
reserve
£   
At 1st July 2023 38,054
Transfer to profit & loss (801 )

At 30th June 2024 37,253