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Registered number: 00389149
Magdala Lawn Tennis Club Limited(The)
Unaudited Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Balance Sheet 1—2
Statement of Changes in Equity 3
Notes to the Financial Statements 4—6
Page 1
Balance Sheet
Registered number: 00389149
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 3,278 3,248
3,278 3,248
CURRENT ASSETS
Stocks 5 386 298
Debtors 6 525 630
Cash at bank and in hand 61,774 44,887
62,685 45,815
Creditors: Amounts Falling Due Within One Year 7 (3,217 ) (2,603 )
NET CURRENT ASSETS (LIABILITIES) 59,468 43,212
TOTAL ASSETS LESS CURRENT LIABILITIES 62,746 46,460
Creditors: Amounts Falling Due After More Than One Year 8 (1,575 ) (3,075 )
NET ASSETS 61,171 43,385
RESERVES
Other reserves 33,463 32,138
Income and Expenditure Account 27,708 11,247
MEMBERS' FUNDS 61,171 43,385
Page 1
Page 2
For the year ending 31 December 2024 the company was entitled to exemption from audit 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income and Expenditure Account.
On behalf of the board
Mr P J Syrysko
Director
12/03/2025
The notes on pages 4 to 6 form part of these financial statements.
Page 2
Page 3
Statement of Changes in Equity
Other reserves Income and Expenditure Account Total
£ £ £
As at 1 January 2023 31,806 9,561 41,367
Profit for the year and total comprehensive income - 2,017 2,017
Movements in sinking fund 332 - 332
Transfer to/from Other Reserves - (331) (331)
As at 31 December 2023 and 1 January 2024 32,138 11,247 43,385
Profit for the year and total comprehensive income - 17,786 17,786
Movements in sinking fund 1,325 - 1,325
Transfer to/from Other Reserves - (1,325) (1,325)
As at 31 December 2024 33,463 27,708 61,171
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Magdala Lawn Tennis Club Limited(The) is a private company, limited by guarantee, incorporated in England & Wales, registered number 00389149 . The registered office is Northgate House North Gate, New Basford, Nottingham, NG7 7BQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold Nil
Courts 20% straight line basis
Gardeners hut 12.5% straight line basis
Floodlights 20% straight line basis
Pavilion 6.67% straight line basis
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 5)
4 5
4. Tangible Assets
Land & Property
Freehold Courts Gardeners hut Floodlights
£ £ £ £
Cost
As at 1 January 2024 1,833 52,904 1,673 51,489
Additions - - - -
As at 31 December 2024 1,833 52,904 1,673 51,489
Depreciation
As at 1 January 2024 - 52,903 261 51,488
Provided during the period - - 210 -
As at 31 December 2024 - 52,903 471 51,488
Net Book Value
As at 31 December 2024 1,833 1 1,202 1
As at 1 January 2024 1,833 1 1,412 1
Pavilion Total
£ £
Cost
As at 1 January 2024 9,669 117,568
Additions 244 244
As at 31 December 2024 9,913 117,812
Depreciation
As at 1 January 2024 9,668 114,320
Provided during the period 4 214
As at 31 December 2024 9,672 114,534
Net Book Value
As at 31 December 2024 241 3,278
As at 1 January 2024 1 3,248
5. Stocks
2024 2023
£ £
Stock 386 298
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6. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 30
Other debtors 525 600
525 630
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Notts LTA loan < 1 year 1,500 1,500
Other creditors 1,717 1,103
3,217 2,603
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Interest free loan 75 75
Notts LTA loan > 1 year 1,500 3,000
1,575 3,075
9. Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
Page 6