Tavistock Constitutional Club Company Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—4

Registered number: 00045658

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Investment Properties	4		315,000		315,000

			315,000		315,000
CURRENT ASSETS
Debtors	5	56,142		48,994
Cash at bank and in hand		6,532		27,277

		62,674		76,271
Creditors: Amounts Falling Due Within One Year	6	(10,840 )		(11,608 )

NET CURRENT ASSETS (LIABILITIES)			51,834		64,663

TOTAL ASSETS LESS CURRENT LIABILITIES			366,834		379,663

PROVISIONS FOR LIABILITIES
Provisions For Charges			(21,017 )		(22,412 )
Deferred Taxation			(6,500 )		(6,500 )

NET ASSETS			339,317		350,751

CAPITAL AND RESERVES
Called up share capital	7		2,250		2,250
Revaluation reserve	8		289,055		289,055
Profit and Loss Account			48,012		59,446

SHAREHOLDERS' FUNDS			339,317		350,751

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Tavistock Constitutional Club Company Limited

Balance Sheet (continued)

As At 30 September 2024

For the 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.

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 Profit and Loss Account.

On behalf of the board

Joan Frost

Director

07/05/2025

The notes on pages 3 to 4 form part of these financial statements.

1. General Information

Tavistock Constitutional Club Company Limited is a private company, limited by shares, incorporated in England & Wales, registered number 00045658 . The registered office is C/O Tavistock Conservative Club, Drake Road, Tavistock, Devon, PL19 0AU.

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

The turnover shown in the profit and loss account represents rental income receivable during the year and is stated net of VAT. Rent received in advance is included in accruals and deferred income.

2.3. Investment Properties

Investment property is included at fair value. Changes in fair value are recognised in the profit and loss account. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

2.4. Financial Instruments

The company holds the following financial instruments:

- Short term trade and other debtors and creditors;

- Cash and bank balances.

All financial instruments are classified as basic.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company's obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.

2.5. Taxation

Current tax

Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax

Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 4 (2023: 4)

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Tavistock Constitutional Club Company Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2024

4. Investment Property

	2024
	£
Fair Value
As at 1 October 2023 and 30 September 2024	315,000

The directors have been advised that in the current economic climate for retail premises, it is unlikely that the previous level of rent will be achievable. In addition, it is unlikely that any new tenant will have the financial strength of the previous tenant HSBC. Accordingly, the directors, with informal advice, consider the property has a value of around £315,000.

5. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	11,197	4,642
Prepayments and accrued income	8,945	8,352
Other debtors	36,000	36,000

	56,142	48,994

6. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Corporation tax	-	128
VAT	508	651
Accruals and deferred income	10,332	10,829

	10,840	11,608

7. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	2,250	2,250

8. Reserves

	Revaluation Reserve
	£
As at 1 October 2023	289,055

As at 30 September 2024	289,055

9. Related Party Transactions

Tavistock Conservative Club (Majority shareholders)

The company has previously advanced an interest free loan to Tavistock Conservative Club. No further advances were made during the year. The Club has investments valued at approximately £25,000 which are held by a director on behalf of the Company. The Club has undertaken that their investments will only be sold to reduce the Club's indebtedness to the Company.

There is no set repayment schedule, but the loans are to be repaid when the Club's finances will permit repayment. At the balance sheet date the amount due from Tavistock Conservative Club was £36,000 (2023: £36,000)

The company provides premises to Tavistock Conservative Club at no charge.

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