Registration number: 03343356

Rudge Enthusiasts Club Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 10

Rudge Enthusiasts Club Limited

Company Information

Directors

D Grant M Collinson J Sweeting SW Wilkins RA Roberts

Company secretary

J Sweeting

Registered office

36 Greenhouse Gardens Cullompton EX15 1US

Accountants

M J Smith & Co Limited Chartered Accountants11 Yeo Business Park Axehayes Farm Clyst St. Mary Exeter Devon EX5 1DP

Rudge Enthusiasts Club Limited

(Registration number: 03343356)
Balance Sheet as at 30 September 2024

	Note	2024 £	2023 £
fixed assets
Intangible assets	6	28,360	30,676
tangible assets	7	4,511	4,686
Investments		5	5
		32,876	35,367
Current assets
stocks	9	349,406	360,513
Debtors	10	5,635	6,432
Cash at bank and in hand		8,728	11,247
		363,769	378,192
Creditors: Amounts falling due within one year	11	(4,385)	(4,450)
Net current assets		359,384	373,742
Net assets		392,260	409,109
capital and reserves
Restricted funds		59,652	59,652
Profit and loss account		332,608	349,457
Member's funds		392,260	409,109

For the financial 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.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Rudge Enthusiasts Club Limited

(Registration number: 03343356)
Balance Sheet as at 30 September 2024

Approved and authorised by the Board on 19 June 2025 and signed on its behalf by:
 

......................................... J Sweeting Company secretary and director

Rudge Enthusiasts Club Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1	General information

The company is a company limited by guarantee incorporated in England & Wales.

The address of its registered office is:
36 Greenhouse Gardens
Cullompton
EX15 1US
England

These financial statements were authorised for issue by the Board on 19 June 2025.

Every member of the company undertakes to contribute to the assets of the company in the event of the same being wound up while he is a member, or within one year after he ceases to be a member, for payment of the debts and liabilities of the company contracted before he ceased to be a member, and of the costs, charges and expenses of winding up, and for the adjustment of the rights of the contributories among themselves, such amount as may be required, not exceeding £5. The number of members is limited to a maximum of 1,000.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
 

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Rudge Enthusiasts Club Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Tax

The company is a Mutual Trading Company for taxation purposes, and is not therefore liable to corporation tax on trading profits. Corporation tax is payable on investment income only. For the year ended 30 September 21 the tax payable amounts to £5 (2020- £46).

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant & equipment	25% reducing balance
Rally assets	25% reducing balance
CD Master & drawings	10% reducing balance
Archive material	No depreciation applied

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Website	5% straight line

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Rudge Enthusiasts Club Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 4).

Rudge Enthusiasts Club Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4	Loss before tax

Arrived at after charging/(crediting)

	2024 £	2023 £
Depreciation expense	2,491	2,536

5	Taxation on profits on ordinary activities

	Note	2024 £	2023  £
Tax reconciliation
		-	-

Rudge Enthusiasts Club Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

6	Intangible assets

	Website  £	Total £
Cost or valuation
At 1 October 2023	46,358	46,358
At 30 September 2024	46,358	46,358
Amortisation
At 1 October 2023	15,682	15,682
Amortisation charge	2,316	2,316
At 30 September 2024	17,998	17,998
Carrying amount
At 30 September 2024	28,360	28,360
At 30 September 2023	30,676	30,676

7	Tangible assets

	Rally Assets  £	CD Masters & Drawings  £	Plant & Equipment  £	Total £
Cost or valuation
At 1 October 2023	6,879	2,657	16,621	26,157
At 30 September 2024	6,879	2,657	16,621	26,157
Depreciation
At 1 October 2023	4,017	2,464	14,990	21,471
Charge for the year	-	48	127	175
At 30 September 2024	4,017	2,512	15,117	21,646
Carrying amount
At 30 September 2024	2,862	145	1,504	4,511
At 30 September 2023	2,862	193	1,631	4,686

Rudge Enthusiasts Club Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

8	Investments

	2024 £	2023 £
Investments in subsidiaries	5	5