Registered number
04866739
New Vortex Jazz Club Limited
Filleted Accounts
31 August 2024
New Vortex Jazz Club Limited
Registered number: 04866739
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 139,077 154,821
Current assets
Stocks 2,000 2,000
Debtors 4 981 19,141
Cash at bank and in hand 44,873 21,288
47,854 42,429
Creditors: amounts falling due within one year 5 (8,591) (38,414)
Net current assets 39,263 4,015
Total assets less current liabilities 178,340 158,836
Creditors: amounts falling due after more than one year 6 (197,021) (202,254)
Net liabilities (18,681) (43,418)
Capital and reserves
Revaluation reserve 7 40,000 40,000
Profit and loss account (58,681) (83,418)
Shareholders' funds (18,681) (43,418)
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.
Colin Daly
Director
Approved by the board on 29 May 2025
New Vortex Jazz 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:
Fixtures and equipment 25% reducing balance
Leasehold improvements 10% straight line
Musical instruments No depreciation charged
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Leasehold improvements Fixtures & equipment Musical equipment Total
£ £ £ £
Cost
At 1 September 2023 282,876 65,820 40,000 388,696
At 31 August 2024 282,876 65,820 40,000 388,696
Depreciation
At 1 September 2023 181,983 51,892 - 233,875
Charge for the year 9,650 6,094 - 15,744
At 31 August 2024 191,633 57,986 - 249,619
Net book value
At 31 August 2024 91,243 7,834 40,000 139,077
At 31 August 2023 100,893 13,928 40,000 154,821
4 Debtors 2024 2023
£ £
Trade debtors 981 1,020
Other debtors - 18,121
981 19,141
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 3,960 32,869
Accruals 1,660 1,660
Taxation and social security costs 2,971 3,885
8,591 38,414
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 34,309 39,542
Other creditors 162,712 162,712
197,021 202,254
Included in other creditors is a loan from Mr Oliver Weindling, a director of the company. The loan is non interest bearing and with no fixed repayment date.
7 Revaluation reserve 2024 2023
£ £
At 1 September 2023 40,000 40,000
At 31 August 2024 40,000 40,000
8 Controlling party
The company is limited by guarantee and there has no share capital. This is "not for profit" organisation run for the benefit of the local communities. The members have given guarantees up to a maximum of £1 to the company's assets should it be wound up.
9 Other information
New Vortex Jazz Club Limited is a private company limited by shares and incorporated in England. Its registered office is:
1 Old Court Mews
311 Chase Road
London
N14 6JS
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