2 2 Club Lotus Limited 05212328 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is operation of the membership of the Club Lotus car owners club, publishing magazines for the membership and selling Lotus merchandise. Digita Accounts Production Advanced 6.30.9574.0 true 05212328 2023-09-01 2024-08-31 05212328 2024-08-31 05212328 core:CurrentFinancialInstruments 2024-08-31 05212328 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 05212328 core:Goodwill 2024-08-31 05212328 core:OfficeEquipment 2024-08-31 05212328 bus:SmallEntities 2023-09-01 2024-08-31 05212328 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 05212328 bus:FilletedAccounts 2023-09-01 2024-08-31 05212328 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 05212328 bus:RegisteredOffice 2023-09-01 2024-08-31 05212328 bus:Director2 2023-09-01 2024-08-31 05212328 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 05212328 bus:Agent1 2023-09-01 2024-08-31 05212328 core:Goodwill 2023-09-01 2024-08-31 05212328 core:ComputerEquipment 2023-09-01 2024-08-31 05212328 core:OfficeEquipment 2023-09-01 2024-08-31 05212328 countries:EnglandWales 2023-09-01 2024-08-31 05212328 2023-08-31 05212328 core:Goodwill 2023-08-31 05212328 core:OfficeEquipment 2023-08-31 05212328 2022-09-01 2023-08-31 05212328 2023-08-31 05212328 core:CurrentFinancialInstruments 2023-08-31 05212328 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 05212328 core:Goodwill 2023-08-31 05212328 core:OfficeEquipment 2023-08-31 xbrli:pure iso4217:GBP

Registration number: 05212328

Club Lotus Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

Club Lotus Limited

Contents

Company Information

1

Accountants' Report

2

Statement of Financial Position

3

Notes to the Unaudited Financial Statements

4 to 7

 

Club Lotus Limited

Company Information

Director

A R G Morgan

Registered office

D S House
306 High Street
Croydon
Surrey
CR0 1NG

Accountants

Innovi Advisors Ltd
Chartered Certified Accountants163 Herne Hill
London
SE24 9LR

 

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Club Lotus Limited
for the Year Ended 31 August 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Club Lotus Limited for the year ended 31 August 2024 as set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of Club Lotus Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Club Lotus Limited and state those matters that we have agreed to state to the Board of Directors of Club Lotus Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at
http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/october/factsheet
-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Club Lotus Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Club Lotus Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Club Lotus Limited. You consider that Club Lotus Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Club Lotus 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 accounts.

......................................

Innovi Advisors Ltd
Chartered Certified Accountants
163 Herne Hill
London
SE24 9LR

21 March 2025

 

Club Lotus Limited

(Registration number: 05212328)
Statement of Financial Position as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

3,822

20,117

Tangible assets

5

693

1,039

 

4,515

21,156

Current assets

 

Stocks

6

5,440

5,440

Debtors

7

-

378

Cash at bank and in hand

 

28,508

22,124

 

33,948

27,942

Creditors: Amounts falling due within one year

8

(15,156)

(21,031)

Net current assets

 

18,792

6,911

Net assets

 

23,307

28,067

Capital and reserves

 

Called up share capital

100

100

Retained earnings

23,207

27,967

Shareholders' funds

 

23,307

28,067

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the director on 21 March 2025
 

A R G Morgan
Director

   
     
 

Club Lotus Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
D S House
306 High Street
Croydon
Surrey
CR0 1NG
England

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentation currency of the financial statements is Pound Sterling (£) rounded to the nearest Pound.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Club Lotus Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

2

Accounting policies (continued)

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer equipment

33% reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

 

Club Lotus Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 September 2023

325,898

325,898

At 31 August 2024

325,898

325,898

Amortisation

At 1 September 2023

305,781

305,781

Amortisation charge

16,295

16,295

At 31 August 2024

322,076

322,076

Carrying amount

At 31 August 2024

3,822

3,822

At 31 August 2023

20,117

20,117

5

Tangible assets

Computer equipment
£

Total
£

Cost or valuation

At 1 September 2023

12,714

12,714

At 31 August 2024

12,714

12,714

Depreciation

At 1 September 2023

11,675

11,675

Charge for the year

346

346

At 31 August 2024

12,021

12,021

Carrying amount

At 31 August 2024

693

693

At 31 August 2023

1,039

1,039

6

Stocks

2024
£

2023
£

Other inventories

5,440

5,440

 

Club Lotus Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

7

Debtors

2024
£

2023
£

Other debtors

-

378

-

378

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

7,023

13,246

Taxation and social security

5,121

5,586

Accruals and deferred income

2,100

2,100

Other creditors

912

99

15,156

21,031