REGISTERED NUMBER: 00051704 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Launceston Liberal Club Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

94

117

Investment property

5

184,857

184,857

184,951

184,974

CURRENT ASSETS

Debtors

6

-

96

Cash at bank

47,989

45,162

47,989

45,258

CREDITORS

Amounts falling due within one year

7

600

1,277

NET CURRENT ASSETS

47,389

43,981

TOTAL ASSETS LESS CURRENT LIABILITIES

232,340

228,955

CAPITAL AND RESERVES

Called up share capital

3,814

3,814

Other reserves

285

285

Retained earnings

228,241

224,856

232,340

228,955

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 profit or loss 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 26 July 2025 and were signed on its behalf by:

R W Cavey - Director

G K Anston-Race - Director

1.	STATUTORY INFORMATION

Launceston Liberal Club Limited is a private company limited by shares incorporated in England and Wales. The registered office is Treveth, Chapel Park, Launceston, Cornwall PL15 7BU

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.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of their investment properties 4 Tower Street and 2 Northgate Street. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. There is a significant risk that actual results may differ from these estimates.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

20% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognized 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 recognized in profit or loss.

The investment property comprises 4 Tower Street and 2 Northgate Street. The fair value of the investment property has been reviewed by the Directors with regards to the market values of the properties based on a capitalization of market rents of between 15 and 16 times net rents. They consider the value to be appropriate and materially correct.

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

and 31 December 2024

2,161

DEPRECIATION

At 1 January 2024

2,044

Charge for year

23

At 31 December 2024

2,067

NET BOOK VALUE

At 31 December 2024

94

At 31 December 2023

117

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

and 31 December 2024

184,857

NET BOOK VALUE

At 31 December 2024

184,857

At 31 December 2023

184,857

Investment property comprises 4 Tower Street and 2 Northgate Street. The fair value of the investment property has been reviewed by the Directors and they consider the value above to be appropriate.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Other debtors

-

96

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

600

1,277