WEST DERBY BOWLING CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
West Derby Bowling Club Limited is a private company limited by shares, which is incorporated under the Companies Act 2006 and registered in England and Wales (No. 00368095). The address of the registered office is 3 Hayman's Green, Liverpool L12 7JG.
These financial statements present information about the company as an individual undertaking; it is not a member of a group companies. The principal activity of the company is that of a property holding company.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
No depreciation is provided on the cost of the freehold building or the bowling green as it would be immaterial. Having undertaken an impairment review the directors consider that the property and the bowling green have residual values not less than cost. Freehold land is not depreciated.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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The Company has no employees other than the directors, who did not receive any remuneration (2023 - £NIL).
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The average monthly number of employees, including directors, during the year was 0 (2023 - 0).
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