Company registration number 00570620 (England and Wales)
SOUTHEND MASONIC CENTRE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
SOUTHEND MASONIC CENTRE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
SOUTHEND MASONIC CENTRE LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,891,035
2,896,707
Current assets
Stocks
14,158
13,962
Debtors
4
43,217
51,121
Cash at bank and in hand
30,871
23,384
88,246
88,467
Creditors: amounts falling due within one year
5
(217,522)
(225,314)
Net current liabilities
(129,276)
(136,847)
Total assets less current liabilities
2,761,759
2,759,860
Creditors: amounts falling due after more than one year
6
(572,652)
(628,969)
Net assets
2,189,107
2,130,891
Reserves
Income and expenditure account
2,189,107
2,130,891
Total members' funds
2,189,107
2,130,891
For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 3 April 2025 and are signed on its behalf by:
Mr Graham Felton
Mr Colin Bott
Director
Director
Company registration number 00570620 (England and Wales)
SOUTHEND MASONIC CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information
Southend Masonic Centre Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Saxon Hall, Aviation Way, Southend on Sea, Essex, SS2 6UN.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
Stated at historical cost
Fixtures and fittings
10% Straight line
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.6
Taxation
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
2
Employees
The average monthly number of persons employed by the company during the year was:
2024
2023
Number
Number
Total
36
39
SOUTHEND MASONIC CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
3
Tangible fixed assets
Freehold land and buildings
Fixtures and fittings
Total
£
£
£
Cost
At 1 January 2024 and 31 December 2024
2,875,417
842,316
3,717,733
Depreciation and impairment
At 1 January 2024
821,026
821,026
Depreciation charged in the year
5,672
5,672
At 31 December 2024
826,698
826,698
Carrying amount
At 31 December 2024
2,875,417
15,618
2,891,035
At 31 December 2023
2,875,417
21,290
2,896,707
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
43,217
51,058
Corporation tax recoverable
63
43,217
51,121
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
90,644
92,337
Trade creditors
33,236
30,872
Corporation tax
17,932
14,045
Other taxation and social security
53,054
63,351
Other creditors
22,656
24,709
217,522
225,314
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
572,652
628,969
SOUTHEND MASONIC CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
7
Members' liability
The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.