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REGISTERED NUMBER: 01705672 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Guildford Model Engineering Society
Limited
(A Company Limited By Guarantee)

Guildford Model Engineering Society
Limited (Registered number: 01705672)
(A Company Limited By Guarantee)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Guildford Model Engineering Society
Limited
(A Company Limited By Guarantee)

Company Information
for the Year Ended 31 December 2024







DIRECTORS: C F Phillips
A Clayton
W R Read





SECRETARY: B J Finch





REGISTERED OFFICE: GMES Clubhouse
Stoke Park
London Road
Guildford
Surrey
GU1 1TU





REGISTERED NUMBER: 01705672 (England and Wales)





ACCOUNTANTS: Tropman & Co Limited
39 Station Road
Liphook
Hampshire
GU30 7DW

Guildford Model Engineering Society
Limited (Registered number: 01705672)
(A Company Limited By Guarantee)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 96,292 103,292

CURRENT ASSETS
Debtors 5 9,785 9,295
Cash at bank and in hand 46,854 53,316
56,639 62,611
CREDITORS
Amounts falling due within one year 6 7,570 8,794
NET CURRENT ASSETS 49,069 53,817
TOTAL ASSETS LESS CURRENT
LIABILITIES

145,361

157,109

RESERVES
Income and expenditure account 145,361 157,109
145,361 157,109

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 March 2025 and were signed on its behalf by:





W R Read - Director


Guildford Model Engineering Society
Limited (Registered number: 01705672)
(A Company Limited By Guarantee)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Guildford Model Engineering Society Limited is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents income generated from the activities of the company, acting as a society, for the benefit of its members.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Buildings & grounds - in accordance with the property
Track - in accordance with the property
Rally items - at variable rates on reducing balance
4mm 00 Gauge Railway - at variable rates on reducing balance
Garden Railway - in accordance with the property
Live Steam Models & Equipment - at variable rates on reducing balance
Furniture Trophies Computer - at variable rates on reducing balance
Tools & Equipment - at variable rates on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

Guildford Model Engineering Society
Limited (Registered number: 01705672)
(A Company Limited By Guarantee)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

4. TANGIBLE FIXED ASSETS
4mm 00
Buildings Rally Gauge
& grounds Track items Railway
£    £    £    £   
COST
At 1 January 2024 236,855 45,166 6,954 6,966
Additions 855 11,522 - 279
At 31 December 2024 237,710 56,688 6,954 7,245
DEPRECIATION
At 1 January 2024 173,141 34,279 6,138 5,093
Charge for year 14,290 4,482 204 43
At 31 December 2024 187,431 38,761 6,342 5,136
NET BOOK VALUE
At 31 December 2024 50,279 17,927 612 2,109
At 31 December 2023 63,714 10,887 816 1,873

Live
Steam Furniture
Garden Models & Trophies Tools &
Railway Equipment Computer Equipment Totals
£    £    £    £    £   
COST
At 1 January 2024 20,529 48,107 2,697 10,277 377,551
Additions - 1,669 - 114 14,439
At 31 December 2024 20,529 49,776 2,697 10,391 391,990
DEPRECIATION
At 1 January 2024 14,788 30,859 2,413 7,548 274,259
Charge for year 1,148 745 55 472 21,439
At 31 December 2024 15,936 31,604 2,468 8,020 295,698
NET BOOK VALUE
At 31 December 2024 4,593 18,172 229 2,371 96,292
At 31 December 2023 5,741 17,248 284 2,729 103,292

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Prepayments 9,785 9,295

Guildford Model Engineering Society
Limited (Registered number: 01705672)
(A Company Limited By Guarantee)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Tax 15 147
Subscriptions/Fares received in advance 3,324 3,209
Key Deposits 47 504
Deposits held re parties - 700
Ring fenced Donations
and Grants 2,924 2,974
Accruals & Deferred Income 1,260 1,260
7,570 8,794