Company registration number 00457174 (England and Wales)
SOUTHPORT MASONIC HALL COMPANY LIMITED (THE)
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
SOUTHPORT MASONIC HALL COMPANY LIMITED (THE)
COMPANY INFORMATION
Directors
L M Gilston
D Glover
R G Jackson
C G Jenkins
G C J Latham
K A Monaghan
R Roukin
D I Scott
P G Stock
B T Griffiths
M P Braham
Mr R Jenkinson
(Appointed 1 July 2024)
Secretary
L M Gilston
Company number
00457174
Registered office
The Masonic Hall
Duke Street
Southport
PR8 1LS
Accountants
Harrison Latham & Company
97 Tulketh Street
Southport
Merseyside
PR8 1AW
SOUTHPORT MASONIC HALL COMPANY LIMITED (THE)
CONTENTS
Page
Directors' report
1
Accountants' report
2
Profit and loss account
3
Balance sheet
4
Statement of changes in equity
5
Notes to the financial statements
6 - 10
SOUTHPORT MASONIC HALL COMPANY LIMITED (THE)
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MAY 2025
- 1 -
The directors present their annual report and financial statements for the year ended 31 May 2025.
Principal activities
The principal activity of the company continued to be that of maintaining and supporting premises for masonic purposes.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
L M Gilston
D Glover
P R Hardman
(Resigned 1 July 2024)
R G Jackson
C G Jenkins
G C J Latham
K A Monaghan
R Roukin
D I Scott
P G Stock
B T Griffiths
M P Braham
Mr R Jenkinson
(Appointed 1 July 2024)
Small companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
By order of the board
L M Gilston
Secretary
31 July 2025
SOUTHPORT MASONIC HALL COMPANY LIMITED (THE)
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SOUTHPORT MASONIC HALL COMPANY LIMITED (THE) FOR THE YEAR ENDED 31 MAY 2025
- 2 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Southport Masonic Hall Company Limited (The) for the year ended 31 May 2025 which comprise the profit and loss account, the balance sheet, the statement of changes in equity 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 Southport Masonic Hall Company Limited (The), as a body. Our work has been undertaken solely to prepare for your approval the financial statements of Southport Masonic Hall Company Limited (The) and state those matters that we have agreed to state to the Board of Directors of Southport Masonic Hall Company Limited (The), 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 Southport Masonic Hall Company Limited (The) and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that Southport Masonic Hall Company Limited (The) 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 loss of Southport Masonic Hall Company Limited (The). You consider that Southport Masonic Hall Company Limited (The) 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 financial statements of Southport Masonic Hall Company Limited (The). 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.
Harrison Latham & Company
31 July 2025
Chartered Accountants
97 Tulketh Street
Southport
Merseyside
PR8 1AW
SOUTHPORT MASONIC HALL COMPANY LIMITED (THE)
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 MAY 2025
- 3 -
2025
2024
£
£
Turnover
329,373
283,871
Cost of sales
(84,333)
(86,589)
Gross profit
245,040
197,282
Administrative expenses
(261,908)
(211,249)
Other operating income
8,700
7,446
Operating loss
(8,168)
(6,521)
Interest receivable and similar income
9,723
8,116
Profit before taxation
1,555
1,595
Tax on profit
(3,906)
(3,399)
Loss for the financial year
(2,351)
(1,804)
The profit and loss account has been prepared on the basis that all operations are continuing operations.
SOUTHPORT MASONIC HALL COMPANY LIMITED (THE)
BALANCE SHEET
- 4 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
156,352
135,063
Investment property
4
80,000
80,000
236,352
215,063
Current assets
Stocks
2,800
2,642
Debtors
5
1,043
1,052
Cash at bank and in hand
324,505
341,132
328,348
344,826
Creditors: amounts falling due within one year
6
(40,998)
(33,836)
Net current assets
287,350
310,990
Net assets
523,702
526,053
Capital and reserves
Called up share capital
3,580
3,580
Other reserves
35,478
35,478
Profit and loss reserves
484,644
486,995
Total equity
523,702
526,053
For the financial year ended 31 May 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 31 July 2025 and are signed on its behalf by:
D I Scott
P G Stock
Director
Director
Company registration number 00457174 (England and Wales)
SOUTHPORT MASONIC HALL COMPANY LIMITED (THE)
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MAY 2025
- 5 -
Share capital
Profit and loss reserves
Total
£
£
£
£
Balance at 1 June 2023
3,580
35,478
488,799
527,857
Year ended 31 May 2024:
Loss and total comprehensive income
-
-
(1,804)
(1,804)
Balance at 31 May 2024
3,580
35,478
486,995
526,053
Year ended 31 May 2025:
Loss and total comprehensive income
-
-
(2,351)
(2,351)
Balance at 31 May 2025
3,580
35,478
484,644
523,702
SOUTHPORT MASONIC HALL COMPANY LIMITED (THE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
- 6 -
1
Accounting policies
Company information
Southport Masonic Hall Company Limited (The) is a private company limited by shares incorporated in England and Wales. The registered office is The Masonic Hall, Duke Street, Southport, PR8 1LS.
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.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
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.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Rents from lodges and room hire are recognised as income when the income is earned.
Rental income is recognised in accordance with the lease.
Interest income is recognised when it is probable that the economic benefits will flow to the company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding and the effective interest rate applicable.
All other sources of income are recognised on receipt.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
periods between 20 and 52 years on a straight line basis
Plant and equipment
between 5% and 20% of cost
No depreciation is provided on freehold land of £7,000 (2023 £7,000).
SOUTHPORT MASONIC HALL COMPANY LIMITED (THE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1
Accounting policies
(Continued)
- 7 -
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
1.5
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
Recoverable amount is the higher of fair value less costs to sell and value in use.
If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
1.6
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises purchase price together with costs incurred in bringing the stocks to their present location and condition.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.7
Cash at bank and in hand
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.
1.8
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
SOUTHPORT MASONIC HALL COMPANY LIMITED (THE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1
Accounting policies
(Continued)
- 8 -
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.9
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. No dividends payable on equity instruments.
1.10
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on none mutual 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.
1.11
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.12
Leases
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.
SOUTHPORT MASONIC HALL COMPANY LIMITED (THE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 9 -
2
Employees
The average monthly number of persons employed by the company during the year was:
2025
2024
Number
Number
Total
18
18
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 June 2024
188,875
319,515
508,390
Additions
38,662
38,662
Disposals
(4,759)
(4,759)
At 31 May 2025
188,875
353,418
542,293
Depreciation and impairment
At 1 June 2024
131,264
242,063
373,327
Depreciation charged in the year
3,618
12,327
15,945
Eliminated in respect of disposals
(3,331)
(3,331)
At 31 May 2025
134,882
251,059
385,941
Carrying amount
At 31 May 2025
53,993
102,359
156,352
At 31 May 2024
57,611
77,452
135,063
4
Investment property
2025
£
Fair value
At 1 June 2024 and 31 May 2025
80,000
The fair value of the investment property has been arrived at on the basis of a valuation carried out by the directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Other debtors
1,043
1,052
SOUTHPORT MASONIC HALL COMPANY LIMITED (THE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 10 -
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
12,427
5,223
Corporation tax
3,906
3,399
Other taxation and social security
5,328
11,140
Other creditors
19,337
14,074
40,998
33,836
7
Related party transactions
Funds of £33,500 (2024 £10,000) were received from The Southport Masonic Hall Foundation. The objects of the Foundation are to raise funds and donations and to hold such funds for the needs of the Southport Masonic Hall Company Limited.