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REGISTERED NUMBER: 03538288 (England and Wales)






















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: G W Hicks
M F A Tuplin
D W Guthrie
M L E Watson
L Thompson
K Robertshaw
J R Bird
T R G Mason


SECRETARY: R W Spencer


REGISTERED OFFICE: Barnby Gate House
Barnby Gate
Newark
NG24 1PX


REGISTERED NUMBER: 03538288 (England and Wales)


ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
Morton House
12 Appletongate
Newark
Nottinghamshire
NG24 1JY


BANKERS: National Westminster PLC
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 4 257,958 262,134

CURRENT ASSETS
Stocks 2,327 2,048
Debtors 5 360 508
Cash at bank 130 8,450
2,817 11,006
CREDITORS
Amounts falling due within one year 6 25,584 25,384
NET CURRENT LIABILITIES (22,767 ) (14,378 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

235,191

247,756

CREDITORS
Amounts falling due after more than one
year

7

35,896

39,059
NET ASSETS 199,295 208,697

CAPITAL AND RESERVES
Called up share capital 9 55,051 56,551
Share premium 10 22,574 22,574
Revaluation reserve 10 62,007 62,007
Retained earnings 10 59,663 67,565
SHAREHOLDERS' FUNDS 199,295 208,697

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 April 2025 and were signed on its behalf by:





K Robertshaw - Director


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 private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the value of goods and services supplied by the company including value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 12.5% on reducing balance
Fixtures and fittings - 12.5% on reducing balance

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 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
Land and to and
Buildings property fittings Totals
£    £    £    £   
COST
At 1 January 2024
and 31 December 2024 228,729 35,906 18,515 283,150
DEPRECIATION
At 1 January 2024 - 4,488 16,528 21,016
Charge for year - 3,928 248 4,176
At 31 December 2024 - 8,416 16,776 25,192
NET BOOK VALUE
At 31 December 2024 228,729 27,490 1,739 257,958
At 31 December 2023 228,729 31,418 1,987 262,134

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 360 508

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 3,600 3,600
Trade creditors 3,565 3,198
Other creditors 18,419 18,586
25,584 25,384

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 35,896 39,059

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 39,496 42,659

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: £    £   
51 "A" Ordinary Shares 1.00 51 51
550 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 67,565 22,574 62,007 152,146
Deficit for the year (7,902 ) (7,902 )
At 31 December 2024 59,663 22,574 62,007 144,244

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..