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Registration number: SC602527

Community Club Initiatives Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

Community Club Initiatives Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 12

 

Community Club Initiatives Limited

Company Information

Director

Mr Stuart Holmes

Registered office

161 Central Ave
Central Avenue
Gretna
Dumfriesshire
DG16 5AA

Accountants

Crossley & Davis Chartered Accountants
Ground Floor, Seneca House
Links Point, Amy Johnson Way
Blackpool
Lancashire
FY4 2FF

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Community Club Initiatives Limited
for the Year Ended 31 July 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Community Club Initiatives Limited for the year ended 31 July 2024 as set out on pages 3 to 12 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
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Community Club Initiatives Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Community Club Initiatives Limited and state those matters that we have agreed to state to the Board of Directors of Community Club Initiatives Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Community Club Initiatives Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Community Club Initiatives Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Community Club Initiatives Limited. You consider that Community Club Initiatives Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Community Club Initiatives 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 accounts.

......................................

Crossley & Davis Chartered Accountants
Ground Floor, Seneca House
Links Point, Amy Johnson Way
Blackpool
Lancashire
FY4 2FF

29 April 2025

 

Community Club Initiatives Limited

(Registration number: SC602527)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

3,700

14,323

Tangible assets

5

342

637

 

4,042

14,960

Current assets

 

Debtors

6

54,071

89,729

Creditors: Amounts falling due within one year

7

(68,662)

(85,255)

Net current (liabilities)/assets

 

(14,591)

4,474

Total assets less current liabilities

 

(10,549)

19,434

Creditors: Amounts falling due after more than one year

7

(7,384)

(15,367)

Provisions for liabilities

(770)

(2,885)

Net (liabilities)/assets

 

(18,703)

1,182

Capital and reserves

 

Called up share capital

8

1

1

Retained earnings

(18,704)

1,181

Shareholders' (deficit)/funds

 

(18,703)

1,182

For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 29 April 2025
 

 

Community Club Initiatives Limited

(Registration number: SC602527)
Balance Sheet as at 31 July 2024

.........................................
Mr Stuart Holmes
Director

 

Community Club Initiatives Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
161 Central Ave
Central Avenue
Gretna
Dumfriesshire
DG16 5AA
United Kingdom

These financial statements were authorised for issue by the director on 29 April 2025.

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

The financial statements have been prepared on a going concern basis.

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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Community Club Initiatives Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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

Office equipment

Straight line 33%

Amortisation

As at the year-end the company is developing computer software, the expenditure has been capitalised and will start to be amortised once the project is complete.

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

Computer software

Straight line 33%

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.

 

Community Club Initiatives Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

 

Community Club Initiatives Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

4

Intangible assets

Internally generated software development costs
 £

Total
£

Cost or valuation

At 1 August 2023

45,000

45,000

At 31 July 2024

45,000

45,000

Amortisation

At 1 August 2023

30,677

30,677

Amortisation charge

10,623

10,623

At 31 July 2024

41,300

41,300

Carrying amount

At 31 July 2024

3,700

3,700

At 31 July 2023

14,323

14,323

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 August 2023

2,975

2,975

Additions

220

220

At 31 July 2024

3,195

3,195

Depreciation

At 1 August 2023

2,338

2,338

Charge for the year

515

515

At 31 July 2024

2,853

2,853

Carrying amount

At 31 July 2024

342

342

At 31 July 2023

637

637

 

Community Club Initiatives Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

6

Debtors

Current

2024
£

2023
£

Trade debtors

3,607

3,056

Prepayments

9,997

30,215

Other debtors

40,467

56,458

 

54,071

89,729

 

Community Club Initiatives Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

10,931

39,705

Taxation and social security

 

21,008

8,754

Accruals and deferred income

 

20,532

21,873

Other creditors

 

16,191

14,923

 

68,662

85,255

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £5,316 (2023 - £5,007l).

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

7,384

15,367

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £5,160 (2023 - £10,476).

 

Community Club Initiatives Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

1

1

1

1

       

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

7,384

15,367

Current loans and borrowings

2024
£

2023
£

Bank borrowings

7,979

7,670

Bank overdrafts

2,952

2,035

Other borrowings

-

30,000

10,931

39,705

 

Community Club Initiatives Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

10

Related party transactions

Loans to related parties

2024

Key management
£

Total
£

At start of period

55,997

55,997

Advanced

30,550

30,550

Repaid

(51,998)

(51,998)

Interest transactions

705

705

At end of period

35,254

35,254

2023

Key management
£

Total
£

At start of period

37,232

37,232

Advanced

36,115

36,115

Repaid

(18,405)

(18,405)

Interest transactions

1,055

1,055

At end of period

55,997

55,997

Terms of loans to related parties

Interest at the offical rate is charged on loans over £10,000.