Seven Towers Motor Cycle Club Limited - Period Ending 2020-11-30
Seven Towers Motor Cycle Club Limited - Period Ending 2020-11-30
Registration number:
Seven Towers Motor Cycle Club Limited
(A company limited by guarantee)
for the Year Ended 30 November 2020
Seven Towers Motor Cycle Club Limited
Contents
Balance Sheet |
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Notes to the Unaudited Financial Statements |
Seven Towers Motor Cycle Club Limited
(Registration number: NI028026)
Balance Sheet as at 30 November 2020
Note |
2020 |
2019 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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( |
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Net current assets |
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Net assets |
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Capital and reserves |
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Profit and loss account |
4,187 |
4,493 |
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Shareholders' funds |
4,187 |
4,493 |
For the financial year ending 30 November 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Seven Towers Motor Cycle Club Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2020
General information |
The company is a company limited by guarantee, incorporated in Northern Ireland, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £Nil towards the assets of the company in the event of liquidation.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Plant & machinery |
20% reducing balance |
Seven Towers Motor Cycle Club Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2020
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Tangible assets |
Other tangible assets |
Total |
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Cost or valuation |
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At 1 December 2019 |
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At 30 November 2020 |
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Depreciation |
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At 1 December 2019 |
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Charge for the year |
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At 30 November 2020 |
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Carrying amount |
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At 30 November 2020 |
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At 30 November 2019 |
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Creditors |
Creditors: amounts falling due within one year
2020 |
2019 |
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Due within one year |
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Accruals and deferred income |
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Other creditors |
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