Registered number
01599072
Austin Healey Club Limited
Unaudited Filleted Accounts
31 August 2024
Austin Healey Club Limited
Registered number: 01599072
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Current assets
Stocks 1,211 1,128
Debtors 3 21,181 12,099
Cash at bank and in hand 299,170 296,549
321,562 309,776
Creditors: amounts falling due within one year 4 (58,715) (56,022)
Net current assets 262,847 253,754
Net assets 262,847 253,754
Capital and reserves
Profit and loss account 262,847 253,754
Shareholders' funds 262,847 253,754
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.
D A Broughton
Director
Approved by the board on 1 December 2024
Austin Healey Club Limited
Notes to the Accounts
for the year ended 31 August 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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.
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:
Computers and software over 4 years
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.
Corporation tax
The results of the company's operations are regarded as mutual trading and, with the exception of investment income received, not subject to corpration tax.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 8 8
3 Debtors 2024 2023
£ £
Trade debtors 8,369 8,962
Other debtors 12,812 3,137
21,181 12,099
4 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors - 30
Taxation and social security costs 5,992 217
Members subscriptions in advance 48,346 48,586
Other creditors 4,377 7,189
58,715 56,022
5 Share capital
The company is limited by guarantee and does not have a share capital.
6 Controlling party
The company is not under the control of any one person or organisation.
7 Other information
Austin Healey Club Limited is a private company limited by shares and incorporated in England. Its registered office is:
Ground Floor
Helen House
Halesowen
West Midlands
B63 3AB
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