| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 December 2024 |
| for |
| Newark Town & District Club Limited |
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 December 2024 |
| for |
| Newark Town & District Club Limited |
| Newark Town & District Club Limited (Registered number: 03538288) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Newark Town & District Club Limited |
| Company Information |
| for the Year Ended 31 December 2024 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants & Business Advisers |
| Morton House |
| 12 Appletongate |
| Newark |
| Nottinghamshire |
| NG24 1JY |
| BANKERS: |
| 1 Market Place |
| Newark |
| Nottinghamshire |
| NG24 1DY |
| Newark Town & District Club Limited (Registered number: 03538288) |
| Balance Sheet |
| 31 December 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Share premium | 10 |
| Revaluation reserve | 10 |
| Retained earnings | 10 |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Newark Town & District Club Limited (Registered number: 03538288) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2024 |
| 1. | STATUTORY INFORMATION |
| Newark Town & District Club Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents the value of goods and services supplied by the company including value added tax. |
| Tangible fixed assets |
| Improvements to property | - |
| Fixtures and fittings | - |
| The directors feel that the refurbishment expenditure has enhanced the value of the property by more than the expenditure. Therefore, no depreciation is charged and the refurbishment expenditure has been added to the valuation of the property. |
| The property valuation is considered by the directors annually and an external valuation gained when relevant and necessary. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Taxation |
| The Inland Revenue have confirmed that no corporation tax is payable on profits from mutual trading whilst the club continues in its present form. Profits relating to the non- mutual trading are subject to corporation tax. |
| Expenditure |
| Expenditure is allocated directly to the activity to which it relates. Where utility expenditure is not directly attributable to one activity it is attributed based on the cost of utilities at 80% to the HMO and 20% to the club.Other expenditure that is less direct, is split 75% to the club and 25% to the HMO. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Improvements | Fixtures |
| Land and | to | and |
| Buildings | property | fittings | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 January 2024 |
| and 31 December 2024 |
| DEPRECIATION |
| At 1 January 2024 |
| Charge for year |
| At 31 December 2024 |
| NET BOOK VALUE |
| At 31 December 2024 |
| At 31 December 2023 |
| Newark Town & District Club Limited (Registered number: 03538288) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Other creditors |
| Included in trade creditors is an amount of £298 (2023: £312) relating to tax and NIC. |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2024 | 2023 |
| £ | £ |
| Bank loans |
| The bank loans are secured against the property held by the company. |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2024 | 2023 |
| value: | £ | £ |
| "A" Ordinary Shares | 1.00 | 51 | 51 |
| Ordinary Redeemable | 100.0 | 0 | 55,000 | 56,500 |
| 55,051 | 56,551 |
| 10. | RESERVES |
| Retained | Share | Revaluation |
| earnings | premium | reserve | Totals |
| £ | £ | £ | £ |
| At 1 January 2024 | 152,146 |
| Deficit for the year | ( |
) | ( |
) |
| At 31 December 2024 | 144,244 |
| 11. | TAXATION |
| As there were losses brought forward from previous accounting periods, no corporation tax is due in the current year on the non-mutual trading income.. |