Wrexham Masonic Hall Company Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00185179 (England and Wales)

Wrexham Masonic Hall Company

Limited

Unaudited Financial Statements

for the Year Ended 31 December 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr P George

Mr F Palmer

Mr P D Dempsey

Mr P Maddocks

Mr PAR Matthews

Mr M W Bennett

A Jones

REGISTERED OFFICE:

Maesgwyn Hall

Mold Road

Wrexham

Clwyd

LL11 2AF

REGISTERED NUMBER:

00185179 (England and Wales)

ACCOUNTANTS:

Salisbury & Company

Chartered Accountants

Irish Square

Upper Denbigh Road

St Asaph

Denbighshire

LL17 0RN

FIXED ASSETS

Tangible assets

4

44,728

44,355

Investment property

5

720,000

720,000

764,728

764,355

CURRENT ASSETS

Stocks

6,200

4,600

Debtors

6

8,843

28,661

Cash at bank and in hand

20,813

25,371

35,856

58,632

CREDITORS

Amounts falling due within one year

7

20,475

36,382

NET CURRENT ASSETS

15,381

22,250

TOTAL ASSETS LESS CURRENT LIABILITIES

780,109

786,605

CREDITORS

Amounts falling due after more than one year

8

(16,514

)

(32,728

)

PROVISIONS FOR LIABILITIES

9

(118,887

)

(117,853

)

NET ASSETS

644,708

636,024

CAPITAL AND RESERVES

Called up share capital

21,559

21,559

Fair value reserve

10

541,593

541,593

Retained earnings

10

81,556

72,872

SHAREHOLDERS' FUNDS

644,708

636,024

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 November 2020 and were signed on its behalf by:

Mr P J Butler - Director

1.	STATUTORY INFORMATION

Wrexham Masonic Hall Company Limited is a private company, limited by shares , 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 as modified by the revaluation of certain assets.

Turnover

Turnover represents net invoiced sales of goods and services, excluding Value Added Tax.

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 and 10% 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 is included at fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 8 (2018 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST OR VALUATION

At 1 January 2019

108,912

Additions

8,900

At 31 December 2019

117,812

DEPRECIATION

At 1 January 2019

64,557

Charge for year

8,527

At 31 December 2019

73,084

NET BOOK VALUE

At 31 December 2019

44,728

At 31 December 2018

44,355

Cost or valuation at 31 December 2019 is represented by:

Plant and

machinery

etc

£

Valuation in 2015

79,733

Valuation in 2016

2,684

Valuation in 2017

15,106

Valuation in 2018

11,389

Valuation in 2019

8,900

117,812

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2019

and 31 December 2019

720,000

NET BOOK VALUE

At 31 December 2019

720,000

At 31 December 2018

720,000

Fair value at 31 December 2019 is represented by:

£

Valuation in 2012

600,000

Valuation in 2016

120,000

720,000

If Maesgwyn Hall had not been revalued it would have been included at the following historical cost:

2019

2018

£

£

Cost

51,367

51,367

Investment property was valued on an open market basis on 31 December 2016 by Beresford Adams Chartered Surveyors .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

8,033

27,446

Other debtors

810

1,215

8,843

28,661

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

4,158

2,500

Trade creditors

12,368

23,658

Taxation and social security

131

83

Other creditors

3,818

10,141

20,475

36,382

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Bank loans

21,071

23,721

Other creditors

(4,557

)

9,007

16,514

32,728

Amounts falling due in more than five years:

Repayable by instalments

VAT

(4,557

)

9,007

9.	PROVISIONS FOR LIABILITIES

2019

2018

£

£

Deferred tax

118,887

117,853

Deferred

tax

£

Balance at 1 January 2019

117,853

Movement

1,034

Balance at 31 December 2019

118,887

10.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 January 2019

72,872

541,593

614,465

Profit for the year

8,684

8,684

At 31 December 2019

81,556

541,593

623,149

Fair value

The fair value reserve includes any fair value adjustments recognised for current and prior years, which are unavailable for distribution.

Retained earnings

The retained earnings reserve includes all current and prior period retained profits and losses, which remain available but are undistributed at the reporting date.