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        Registered number: 05829165












    

WEST NORFOLK SPORTING TRUST LIMITED
(A Company Limited by Guarantee)


UNAUDITED

DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

 
WEST NORFOLK SPORTING TRUST LIMITED
 
(A Company Limited by Guarantee)
 
 
COMPANY INFORMATION


Directors
A J MacNicol 
C W L Barratt 
S R Bullard  (Chairman) 
A W K Merriam (resigned 21 May 2024)
S M Scott 
C T Joice 
I P Mason (appointed 21 May 2024)




Company secretary
C L Farrow



Registered number
05829165



Registered office
The Racecourse
Fakenham

Norfolk

NR21 7NY




Accountants
Larking Gowen LLP
Chartered Accountants

Summerhill House

1 Sculthorpe Road

Fakenham

NR21 9HA





 
WEST NORFOLK SPORTING TRUST LIMITED
 
(A Company Limited by Guarantee)
 

CONTENTS



Page
Directors' Report
 
 
1 - 2
Accountants' Report
 
 
3
Profit and Loss Account
 
 
4
Balance Sheet
 
 
5
Notes to the Financial Statements
 
 
6 - 7


 
WEST NORFOLK SPORTING TRUST LIMITED

(A Company Limited by Guarantee)
 
 
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024

The Directors present their report and the financial statements for the year ended 31 December 2024.

Directors' responsibilities statement

The Directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
 
Company law requires the Directors to prepare financial statements for each financial year. Under that law the Directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the Directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

 In preparing these financial statements, the Directors are required to:


select suitable accounting policies for the Company's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Principal activity

The objects for which the Company is established are:
a) Hold shares in Fakenham Racecourse Limited (company no 862851) on trust for the West Norfolk Foxhounds Hunt Club in accordance with the terms of a Declaration of Trust made between the Company (1) and Mr John Peter Labouchere as Chairman, and as the duly authorised representative for and on behalf of the West Norfolk Foxhounds Hunt Club (2);
b) Promote and support lawful hunting with Foxhounds in West Norfolk;
c) Carry on, promote and support equestrian, hound, field and country sports, pursuits and activities;
d) Support, including without limitation the giving of grants, in cases of hardship, to former employees and servants and the families of former employees and servants of Fakenham Racecourse Limited, the West Norfolk Foxhounds Hunt Club and West Norfolk Foxhounds Hunt Limited.
 

Page 1

 
WEST NORFOLK SPORTING TRUST LIMITED

(A Company Limited by Guarantee)
 
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024


Directors

The Directors who served during the year were:

A J MacNicol 
C W L Barratt 
S R Bullard  (Chairman) 
A W K Merriam (resigned 21 May 2024)
S M Scott 
C T Joice 
I P Mason (appointed 21 May 2024)

Small companies note

In preparing this report, the Directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board and signed on its behalf.
 





................................................
S R Bullard  (Chairman)
Director

Date: 13 May 2025

Page 2

 
WEST NORFOLK SPORTING TRUST LIMITED
 
(A Company Limited by Guarantee)
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF WEST NORFOLK SPORTING TRUST LIMITED
FOR THE YEAR ENDED 31 DECEMBER 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of West Norfolk Sporting Trust Limited for the year ended 31 December 2024 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of West Norfolk Sporting Trust Limited, as a body, in accordance with the terms of our engagement letter dated 6 June 2024Our work has been undertaken solely to prepare for your approval the financial statements of West Norfolk Sporting Trust Limited and state those matters that we have agreed to state to the Board of Directors of West Norfolk Sporting Trust Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than West Norfolk Sporting Trust Limited and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that West Norfolk Sporting Trust Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of West Norfolk Sporting Trust Limited. You consider that West Norfolk Sporting Trust Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of West Norfolk Sporting Trust Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Larking Gowen LLP
 
Chartered Accountants
  
Summerhill House
1 Sculthorpe Road
Fakenham
NR21 9HA
18 July 2025
Page 3

 
WEST NORFOLK SPORTING TRUST LIMITED
 
(A Company Limited by Guarantee)
 
 
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024

2024
2023
Note
£
£

  

Income from shares in group undertakings
  
1,500
3,000

Profit before tax
  
1,500
3,000

Profit for the financial year
  
1,500
3,000

The notes on pages 6 to 7 form part of these financial statements.

Page 4

 
WEST NORFOLK SPORTING TRUST LIMITED
 
(A Company Limited by Guarantee)
REGISTERED NUMBER: 05829165

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

  

Current assets
  

Cash at bank and in hand
 3 
-
1

  
-
1

Creditors: amounts falling due within one year
 4 
-
(1)

Net current assets
  
 
 
-
 
 
-

Total assets less current liabilities
  
-
-

  

Net assets
  
-
-


Capital and reserves
  

  
-
-


The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


................................................
S R Bullard  (Chairman)
................................................
S M Scott
Director
Director


Date: 13 May 2025

Page 5

 
WEST NORFOLK SPORTING TRUST LIMITED

(A Company Limited by Guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

West Norfolk Sporting Trust Limited is a private company limited by guarantee and incorporated in England, registration number 05829165. The registered office is The Racecourse, Fakenham, Norfolk, NR21 7NY.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.3

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.4

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.5

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares. 

 
2.7

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 6

 
WEST NORFOLK SPORTING TRUST LIMITED

(A Company Limited by Guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

3.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
-
1



4.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other creditors
-
1

-
1




5.


Company status

The Company is a private company limited by guarantee and consequently does not have share capital.


6.


Related party transactions

The Company holds, as nominee, all of the issued share capital of Fakenham Racecourse Limited on trust for the West Norfolk Foxhounds Hunt Club. A dividend of £1,500 (2023: £3,000) was received during the year from Fakenham Racecourse Limited and £1,500 (2023: £3,000) was due to the West Norfolk Foxhounds Hunt Club. 


7.


Controlling party

The Company is controlled by its directors, none of whom own any shares as the Company is limited by guarantee and consequently no share capital exists. 

Page 7