W H Members Company Limited - Filleted accounts

W H Members Company Limited - Filleted accounts

W.H.MEMBERS COMPANY,LIMITED - Company Information

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Registered number
00390228
W H Members Company Limited
Filleted Accounts
31 January 2020
W H Members Company Limited
Registered number: 00390228
Balance Sheet
as at 31 January 2020
Notes 2020 2019
£ £
Fixed Assets
Intangible assets - -
Tangible Assets 3 2,513,400 2,511,240
Investments 4 - -
2,513,400 2,511,240
Current Assets
Stocks 2,534 1,453
Debtors 5 4,457 5,917
Investments held as current assets 6 - -
Bank and Cash 129,794 117,065
136,785 124,435
Creditors: Due Within One Year 7 (17,829) (16,327)
Net Current Assets 118,956 108,108
Total Assets less Current Liabilities 2,632,356 2,619,348
Creditors: amounts falling due after more than one year 8 - -
Provisions for Liabilities 10 (263,050) (263,050)
Net Assets 2,369,306 2,356,298
Capital and Reserves
Called Up Share Capital 9,850 9,350
Property/Grounds Maint Reserve 30,000 20,000
Non Distributable Reserve 2,166,340 2,166,340
Profit and Loss Account 163,116 160,608
Shareholders' Funds 2,369,306 2,356,298
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
___________________
Phil Rowing
Treasurer
Approved by the board on 25 August 2020
W H Members Company Limited
Notes to the Accounts
for the year ended 31 January 2020
1 Accounting Policies
Basis of Preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes the club subscriptions and other income generated from the members. The subscriptions are invoiced annually each March and so 2/12ths of the subscriptions have been treated as prepaid.
Tangible Fixed Assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land and buildings (which are now regularly revalued), at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold Land and Buildings no depreciation is provided
Fixtures, fittings and Equipment 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
The company pays tax on its interest and other income and capital generated from its assets. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2020 2019
Number Number
Average number of persons employed by the company - -
3 Tangible Fixed Assets
Land and buildings Fixtures, Fittings & Equipment Motor vehicles Total
£ £ £ £
Cost
At 1 February 2019 2,500,000 60,018 - 2,560,018
Additions - 6,627 - 6,627
Surplus on revaluation - - - -
Disposals - - - -
At 31 January 2020 2,500,000 66,645 - 2,566,645
Depreciation
At 1 February 2019 - 48,778 - 48,778
Charge for the year - 4,467 - 4,467
Surplus on revaluation - - - -
On disposals - - - -
At 31 January 2020 - 53,245 - 53,245
Net Book Values
At 31 January 2020 2,500,000 13,400 - 2,513,400
At 31 January 2019 2,500,000 11,240 - 2,511,240
Freehold land and buildings: 2020 2019
£ £
Historical cost - -
Cumulative depreciation based on historical cost - -
- -
[For revalued assets, state the years in which the assets were valued and their values. For assets revalued during the reporting period, state the names of the persons who revalued them or particulars of their qualifications for doing so and the bases of valuation used by them.]
4 Investments
Investments in
subsidiary Other
undertakings investments Total
£ £ £
Cost
At 1 February 2019 - - -
Additions - - -
Revaluation - - -
Disposals - - -
At 31 January 2020 - - -
Historical cost
At 1 February 2019 - -
At 31 January 2020 - -
[For revalued investments, see FRS 102 paragraphs 1AC.15, 1AC.22 and 1AC.23 for disclosures]
5 Debtors 2020 2019
£ £
Trade debtors - -
Amounts owed by group undertakings and undertakings in which the company has a participating interest - -
Deferred tax asset - -
Other Debtors 4,457 5,917
4,457 5,917
Amounts due after more than one year included above - -
6 Investments held as current assets 2020 2019
£ £
Fair value
Listed investments - -
Unlisted investments - -
- -
Increase/(decrease) in fair value included in the profit and loss account for the financial year
Listed investments - -
Unlisted investments - -
- -
[For revalued investments, see FRS 102 paragraphs 1AC.22 and 1AC.23 for disclosures]
7 Creditors: Due Within One Year 2020 2019
£ £
Non-equity preference shares - -
Bank loans and overdrafts - -
Obligations under finance lease and hire purchase contracts - -
Trade creditors 1,096 -
Amounts owed to group undertakings and undertakings in which the company has a participating interest - -
Corporation and Other Taxes 4,234 3,674
Other Creditors 12,499 12,653
17,829 16,327
8 Creditors: amounts falling due after one year 2020 2019
£ £
Non-equity preference shares - -
Bank loans - -
Obligations under finance lease and hire purchase contracts - -
Trade creditors - -
Amounts owed to group undertakings and undertakings in which the company has a participating interest - -
Other creditors - -
- -
9 Loans 2020 2019
£ £
Creditors include:
Amounts payable otherwise than by instalment falling due for payment after more than five years - -
Instalments falling due for payment after more than five years - -
- -
Secured bank loans - -
[Give an indication of the nature and form of the security for the bank loans]
10 Provision for Liabilities - Deferred Tax 2020 2019
£ £
At 1 February 2019 263,050 263,050
Charge/(Credit) for Year - -
At 31 January 2020 263,050 263,050
11 Events after the reporting date
12 Capital commitments 2020 2019
£ £
Amounts contracted for but not provided in the accounts - -
13 Pension commitments
14 Other financial commitments 2020 2019
£ £
Total future minimum payments under non-cancellable operating leases - -
15 Contingent liabilities
16 Off-balance sheet arrangements
17 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Val Humfress
[Loan 1] - - - -
[Loan 2] - - - -
Michael Clark
[Loan 1] - - - -
[Loan 2] - - - -
Michael Fearnley
[Loan 1] - - - -
[Loan 2] - - - -
Timothy Hill - appointed 20/01/2020
[Loan 1] - - - -
[Loan 2] - - - -
Leigh Houghton - appointed 08/04/2019
[Loan 1] - - - -
[Loan 2] - - - -
Richard Lambley
[Loan 1] - - - -
[Loan 2] - - - -
Helen Mason - resigned 08/04/2019
[Loan 1] - - - -
[Loan 2] - - - -
Derek Ross
[Loan 1] - - - -
[Loan 2] - - - -
Deborah Winchester - resigned 13/12/2019
[Loan 1] - - - -
[Loan 2] - - - -
- - - -
18 Guarantees made by the company on behalf of directors
Main terms Maximum Amount paid
liability and incurred
£ £
Val Humfress
[Guarantee 1] - -
[Guarantee 2] - -
Michael Clark
[Guarantee 1] - -
[Guarantee 2] - -
Michael Fearnley
[Guarantee 1] - -
[Guarantee 2] - -
Timothy Hill - appointed 20/01/2020
[Guarantee 1] - -
[Guarantee 2] - -
Leigh Houghton - appointed 08/04/2019
[Guarantee 1] - -
[Guarantee 2] - -
Richard Lambley
[Guarantee 1] - -
[Guarantee 2] - -
Helen Mason - resigned 08/04/2019
[Guarantee 1] - -
[Guarantee 2] - -
Derek Ross
[Guarantee 1] - -
[Guarantee 2] - -
Deborah Winchester - resigned 13/12/2019
[Guarantee 1] - -
[Guarantee 2] - -
- -
19 Related party transactions
20 Controlling party
21 Other Information
W H Members Company Limited is a private company limited by shares and incorporated in England. Its registered office is:
10 Southview Road
Warlingham
Surrey
CR6 9JE
8 Tax on Profit/(Loss) 2020 2019
£ £
Corporation Tax Charge 201 198
Deferred Tax Charge/(Credit) - -
Tax in Profit/Loss Account 201 198
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