Registered number
07954207
Albemarle Club Ltd
Report and Accounts
31 July 2024
Albemarle Club Ltd
Report and accounts
Contents
Page
Company information1
Directors' report2
Accountants' report3
Profit and loss account4
Balance sheet5
Statement of changes in equity6
Notes to the accounts7 to 9
Albemarle Club Ltd
Company Information
Directors
K KESHWAR
M PHOTIOU
Accountants
GERALD CHARLES & CO
239 Bullsmoor Lane
Enfield
MIDDX
EN1 4SB
Registered office
2a Carterhatch Road
Enfield
MIDDX
EN3 5LS
Registered number
07954207
Albemarle Club Ltd
Registered number: 07954207
Directors' Report
The directors present their report and accounts for the year ended 31 July 2024.
Principal activities
The company's principal activity during the year continued to be that of Gentelmen's Club Operators
Directors
The following persons served as directors during the year:
K KESHWAR
M PHOTIOU
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 15 March 2025 and signed on its behalf.
M PHOTIOU
Director
Albemarle Club Ltd
Accountants' Report
Accountants' report to the directors of
Albemarle Club Ltd
You consider that the company is exempt from an audit for the year ended 31 July 2024. You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
GERALD CHARLES & CO
Accountants
239 Bullsmoor Lane
Enfield
MIDDX
EN1 4SB
15 March 2025
Albemarle Club Ltd
Profit and Loss Account
for the year ended 31 July 2024
Notes2024 2023
£ £
Turnover325,282415,625
Cost of sales(57,782)(75,545)
Gross profit267,500340,080
Administrative expenses(280,337)(381,311)
Operating loss(12,837)(41,231)
Interest payable(1,162)(907)
Loss on ordinary activities before taxation(13,999)(42,138)
Tax on loss on ordinary activities- -
Loss for the financial year13,999)42,138)
Albemarle Club Ltd
Registered number:07954207
Balance Sheet
as at 31 July 2024
Notes2024 2023
£ £
Fixed assets
Intangible assets296,826296,826
Tangible assets3,7895,053
300,615301,879
Current assets
Stocks5,0005,000
Debtors339,72841,668
Cash at bank and in hand18,0856,397
62,81353,065
Creditors: amounts falling due within one year4(198,231)(166,315)
Net current liabilities(135,418)(113,250)
Total assets less current liabilities165,197188,629
Creditors: amounts falling due after more than one year5(8,713)(18,146)
Net assets£156,484£170,483
Capital and reserves
Called up share capital1,0001,000
Profit and loss account155,484169,483
Shareholders' funds£156,484£170,483
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.
M PHOTIOU
Director
Approved by the board on 15 March 2025
Albemarle Club Ltd
Statement of Changes in Equity
for the year ended 31 July 2024
ShareShareRe-ProfitTotal
capitalpremiumvaluationand loss
reserveaccount
£ £ £ £ £
At 1 August 20221,000- - 211,621212,621
Loss for the financial year(42,138)(42,138)
At 31 July 2023£1,000 £0 £0 £169,483 £170,483
At 1 August 20231,000- - 169,483170,483
Loss for the financial year(13,999)(13,999)
At 31 July 2024£1,000£0 £0 £155,484£156,484
Albemarle Club Ltd
Notes to the Accounts
for the year ended 31 July 2024
1Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 as applied to small entities by section 1A of the standard. The Financial Reporting Standard applicable in the UK and Republic of Ireland.
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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Fixtures, fittings, tools and equipmentreducing balance @ 25%
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.
2Employees2024 2023
NumberNumber
Average number of persons employed by the company67
3Debtors2024 2023
£ £
Trade debtors17013,672
Other debtors3802737996
£39,728£41,668
4Creditors: amounts falling due within one year2024 2023
£ £
Bank loans and overdrafts10,00010,000
Trade creditors15,94712,077
Corporation tax- 2,689
Other taxes and social security costs22,50224,624
Other creditors149,782116,925
£198,231£166,315
5Creditors: amounts falling due after one year2024 2023
£ £
Bank loans£8,713£18,146
6Other information
Albemarle Club Ltd is a private company limited by shares and incorporated in England. Its registered office is:
2a Carterhatch Road
Enfield
MIDDX
EN3 5LS
Albemarle Club Ltd
Detailed profit and loss account
for the year ended 31 July 2024
2024 2023
£ £
Sales325,282415,625
Cost of sales(57,782)(75,545)
Gross profit267,500340,080
Administrative expenses(280,337)(381,311)
Operating loss(12,837)(41,231)
Interest payable(1,162)(907)
Loss before tax13,999)42,138)
Albemarle Club Ltd
Detailed profit and loss account
for the year ended 31 July 2024
2024 2023
£ £
Sales
Sales£
325,282
£
415,625
Cost of sales
Opening Stocks5,000 5,000
Purchases
57,782
75,545
Closing stocks(
5,000
)
(
5,000
)
£57,782 £75,545
Administrative expenses
Employee costs:
Wages and salaries
78,760
128,271
Directors' salaries
22,980
24,327
Pensions
2,145
3,393
Credit Card Charges
12,898
15,481
Employer's NI
5,138
9,364
Protective clothing12 50
Staff training and welfare
327
6,038
Travel and subsistence
1,615
2,114
Motor expenses
520
4,773
124,395 193,811
Premises costs:
Rent
94,766
116,036
Rates
11,628
19,861
Light and heat
2,595
2,292
Cleaning & Waste
8,484
15,204
117,473 153,393
General administrative expenses:
Telephone and fax
4,402
4,148
Stationery and printing
662
1,009
Subscriptions & licences
1,551
1,881
Bank charges
728
1,330
Insurance
6,153
559
Consumables
7,416
6,554
Equipment hire-
146
Repairs and maintenance
6,978
7,539
Depreciation
1,263
1,684
Sundry expenses
1,413
1,670
30,566 26,520
Legal and professional costs:
Accountancy fees
7,809
7,292
Advertising and PR
94
295
7,903 7,587
£280,337 £381,311
Albemarle Club Ltd
CORPORATION TAX COMPUTATIONS
for the year ended 31 July 2024
£ £
PROFIT PER ACCOUNTS(13,999)
ADD: Depreciation1,263
1,263
(12,736)
LESS: Capital Allowances1,041
LESS: Loss b/fwd43,408
LOSS FOR THE YEAR(£57,185)
CAPITAL ALLOWANCES
POOLCARC/A
££
W.D.V. B/FWD5,784
Additions: Plant & Machinery
Disposal proceeds:
5,784
W.D.V @ 18%(1,041)1,041
£1,041
W D V C/FWD£4,743 £0
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