Statement of Financial Position

1

		2026			2025
		£	£		£	£
Fixed assets			16,637			21,937
Current assets		6,051			9,085
Creditors: amount falling due within one year		(27,571)			(29,697)
Net current assets			(21,520)			(20,612)
Total assets less current liabilities			(4,883)			1,325
Creditors: amount falling due after more than one year			0			(12,231)
Net assets			(4,883)			(10,906)
Represented by:
Loans and other debts due to members			7,644			0
Amounts due from members			(12,527)			(10,906)
Members' other interest
Other reserves			0			0
			0			0
			(4,883)			(10,906)
Total members' interests
Amounts due from members			(12,527)			(10,906)
Loans and other debts due to members			7,644			0
Members' other interests			0			0
			(4,883)			(10,906)

1.

Accounting policies Significant accounting policies Statement of compliance These financial statements have been prepared in compliance with FRS 105 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. Basis of preparation The financial statements have been prepared under the historical cost convention. The financial statements are prepared in sterling which is the functional currency of the company. Turnover Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. Tangible fixed assets Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: Land and Buildings 15 Years Straight Line Plant and Machinery 4 Years Straight Line Stocks Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.