2 2 Milton Keynes Model Railway Society Ltd 08248257 false 2023-10-01 2024-09-30 2024-09-30 The principal activity of the company is Activities Of Other Membership Organisation Digita Accounts Production Advanced 6.30.9574.0 true 08248257 2023-10-01 2024-09-30 08248257 2024-09-30 08248257 core:CurrentFinancialInstruments core:WithinOneYear 2024-09-30 08248257 bus:SmallEntities 2023-10-01 2024-09-30 08248257 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 08248257 bus:AbridgedAccounts 2023-10-01 2024-09-30 08248257 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 08248257 bus:RegisteredOffice 2023-10-01 2024-09-30 08248257 bus:CompanySecretary1 2023-10-01 2024-09-30 08248257 bus:CompanyLimitedByGuarantee 2023-10-01 2024-09-30 08248257 countries:UnitedKingdom 2023-10-01 2024-09-30 08248257 2022-10-01 2023-09-30 08248257 2023-09-30 08248257 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 xbrli:pure iso4217:GBP

Registration number: 08248257

Milton Keynes Model Railway Society Ltd

(A company limited by guarantee)

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 30 September 2024

 

Milton Keynes Model Railway Society Ltd

(Registration number: 08248257)
Abridged Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Current assets

 

Cash at bank and in hand

 

19,408

17,170

Creditors: Amounts falling due within one year

(15,618)

(9,529)

Total assets less current liabilities

 

3,790

7,641

Accruals and deferred income

 

(650)

(600)

Net assets

 

3,140

7,041

Reserves

 

Retained earnings

3,140

7,041

Surplus

 

3,140

7,041

For the financial year ending 30 September 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 in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the director on 14 April 2025
 

.........................................
James Woodley
Company secretary

 

Milton Keynes Model Railway Society Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a company limited by guarantee, incorporated in United Kingdom, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £Nil towards the assets of the company in the event of liquidation.

The address of its registered office is:
North House
1 Bond Avenue
Bletchley
Milton Keynes
Bucks
MK1 1SW

The principal place of business is:
33 Milton Grove
Bletchley
Milton Keynes
MK3 5BJ

These financial statements were authorised for issue by the director on 14 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged 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 abridged 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.

 

Milton Keynes Model Railway Society Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2024

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.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

3

Staff numbers

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

4

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.