THE MKII CORTINA OWNERS CLUB LIMITED

Company limited by guarantee

Company Registration Number:
04882904 (England and Wales)

Unaudited statutory accounts for the year ended 30 September 2024

Period of accounts

Start date: 01 October 2023

End date: 30 September 2024

THE MKII CORTINA OWNERS CLUB LIMITED

Company limited by guarantee

Contents of the Financial Statements

for the Period Ended 30 September 2024

Company Information - 3
Report of the Directors - 4
Income and Expenditure Account - 5
Balance sheet - 6
Additional notes - 8
Balance sheet notes - 11

THE MKII CORTINA OWNERS CLUB LIMITED

Company limited by guarantee

Company Information

for the Period Ended 30 September 2024




Director: Robert Armstrong
Graham Bird
Charles J Hanson
Mark Richards
Peter J Pascoe
Roderick D Smith
Stephen R Vincent
Secretary: Graham Bird
Registered office: 6
Slater Close
Kempston
Bedford
England
MK42 8SQ
Company Registration Number: 04882904 (England and Wales)

THE MKII CORTINA OWNERS CLUB LIMITED

Company limited by guarantee

Directors' Report Period Ended 30 September 2024

The directors present their report with the financial statements of the company for the period ended 30 September 2024

Principal Activities

Classic Car Club devoted to all variants of the MkII Cortina. The purchasing and selling of spare parts to members. Attending rallies and arranging events for the membership.

Directors

The directors shown below have held office during the whole of the period from 01 October 2023 to 30 September 2024
Robert Armstrong
Graham Bird
Charles J Hanson
Mark Richards
Peter J Pascoe

The director(s) shown below resigned during the period
Roderick D Smith
28 January 2024
Stephen R Vincent
27 February 2024

Secretary
Graham Bird

This report was approved by the board of directors on 15 February 2025
And Signed On Behalf Of The Board By:

Name: Robert Armstrong
Status: Director

THE MKII CORTINA OWNERS CLUB LIMITED

Company limited by guarantee

Income and Expenditure Account

for the Period Ended 30 September 2024


Notes

2024
£

2023
£
Turnover 59,822 47,220
Cost of sales ( 38,752 ) ( 27,973 )
Gross surplus or (deficit) 21,070 19,247
Income from coronavirus (COVID-19) business support grants 0 0
Distribution Costs ( 6,505 ) ( 4,376 )
Administrative Expenses ( 14,281 ) ( 13,385 )
Other operating income 0 0
Operating surplus or (deficit) 284 1,486
Interest Receivable and Similar Income 0 0
Interest Payable and Similar Charges ( 0 ) ( 0 )
Surplus or (deficit) before tax 284 1,486
Surplus or (deficit) for the period 284 1,486

The notes form part of these financial statements

THE MKII CORTINA OWNERS CLUB LIMITED

Company limited by guarantee

Balance sheet

As at 30 September 2024


Notes

2024
£

2023
£
Fixed assets
Tangible assets: 4 1,097 649
Total fixed assets: 1,097 649
Current assets
Stocks: 117,433 106,654
Cash at bank and in hand: 20,737 22,332
Total current assets: 138,170 128,986
Creditors: amounts falling due within one year: 5 ( 0 ) ( 6,380 )
Net current assets (liabilities): 138,170 122,606
Total assets less current liabilities: 139,267 123,255
Total net assets (liabilities): 139,267 123,255

The notes form part of these financial statements

THE MKII CORTINA OWNERS CLUB LIMITED

Company limited by guarantee

Balance sheet continued

As at 30 September 2024


Notes

2024
£

2023
£
Reserves
Income and expenditure account 139,267 123,255
Members funds 139,267 123,255

For the year ending 30 September 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 15 February 2025
And Signed On Behalf Of The Board By:

Name: Robert Armstrong
Status: Director

The notes form part of these financial statements

THE MKII CORTINA OWNERS CLUB LIMITED

Company limited by guarantee

Notes to the Financial Statements

for the Period Ended 30 September 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    The turnover shown in the profit and loss accounts represents revenue earned during the period.

    Tangible fixed assets depreciation policy

    Depreciation is provided at the following rates in order to write off each asset over its estimated useful life.
    e.g. Shed, Gazebo and Computer Equipment at 20%, Flags Banners and Clothing at 50% of cost.

    Valuation information and policy

    A full stock take and revaluation of spare parts was undertaken in September 2024 and the new figure is included on the Balance Sheet.

THE MKII CORTINA OWNERS CLUB LIMITED

Company limited by guarantee

Notes to the Financial Statements

for the Period Ended 30 September 2024

  • 2. Employees


    2024

    2023
    Average number of employees during the period 0 0

THE MKII CORTINA OWNERS CLUB LIMITED

Company limited by guarantee

Notes to the Financial Statements

for the Period Ended 30 September 2024

  • 3. Off balance sheet disclosure

    No

THE MKII CORTINA OWNERS CLUB LIMITED

Company limited by guarantee

Notes to the Financial Statements

for the Period Ended 30 September 2024

4. Tangible assets

Fixtures & fittings Office equipment Total
Cost £ £ £
At 01 October 2023 271 378 649
Additions 380 546 926
Disposals - - -
Revaluations - - -
Transfers - - -
At 30 September 2024 651 924 1,575
Depreciation
At 01 October 2023 - - -
Charge for year 118 360 478
On disposals - - -
Other adjustments - - -
At 30 September 2024 118 360 478
Net book value
At 30 September 2024 533 564 1,097
At 30 September 2023 271 378 649

Depreciation is provided at the following rates in order to write off each asset over its estimated useful life.
e.g. Shed, Gazebo and Computer Equipment at 20%, Flags, Banners and Clothing at 50% of cost.

THE MKII CORTINA OWNERS CLUB LIMITED

Company limited by guarantee

Notes to the Financial Statements

for the Period Ended 30 September 2024

5.Creditors: amounts falling due within one year note


2024
£

2023
£
Bank loans and overdrafts 0 0
Amounts due under finance leases and hire purchase contracts 0 0
Trade creditors 0 0
Taxation and social security 0 0
Accruals and deferred income 0 0
Other creditors 0 6,380
Total 0 6,380

The figure of £6,380 related to monies owed to The MkI Cortina Owners Club in relation to spare parts supplied and charges for The Joint National Rally.
Also spares supplied by Rubber Seals of Australia plus the refund of a deposit.