Exeter Labour and Trades Unions Premises Limited 31/12/2022 iXBRL
Exeter Labour and Trades Unions Premises Limited 31/12/2022 iXBRL
Company registration number:
00915525
EXETER LABOUR AND TRADES UNIONS PREMISES LIMITED
DIRECTORS AND OTHER INFORMATION
Directors |
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(Resigned 14 February 2022) | |
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(Resigned 14 February 2022) | ||
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(Appointed 14 February 2022 Resigned 1 January 2023) | ||
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(Appointed 1 January 2023) | ||
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(Appointed 14 February 2022) | ||
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(Resigned 14 February 2022) | ||
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(Resigned 14 February 2022) | ||
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(Appointed 14 February 2022) | ||
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(Resigned 14 February 2022) | ||
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(Appointed 14 February 2022) | ||
Mr Martin Pearce | (Appointed 14 February 2022) | ||
Ms Marilyn Whitton | (Appointed 14 February 2022) | ||
Secretary |
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Company number |
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Registered office |
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Business address |
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Accountants |
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30 St Peter Street | |||
Tiverton | |||
Devon | |||
EX16 6NR | |||
EXETER LABOUR AND TRADES UNIONS PREMISES LIMITED
STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2022
2022 | 2021 | ||||||||
Note | £ | £ | £ | £ | |||||
Fixed assets | |||||||||
Tangible assets | 5 |
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Current assets | |||||||||
Cash at bank and in hand |
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Creditors: amounts falling due | |||||||||
within one year | 6 |
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Net current assets |
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Total assets less current liabilities |
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Creditors: amounts falling due | |||||||||
after more than one year | 7 |
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Net liabilities |
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Capital and reserves | |||||||||
Called up share capital |
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Profit and loss account | 8 |
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Shareholders deficit |
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Directors responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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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 financial statements.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
27 September 2023
, and are signed on behalf of the board by:
Director
Company registration number:
00915525
EXETER LABOUR AND TRADES UNIONS PREMISES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2022
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is
Exeter Labour and Trades Unions Premises Limited
, 26b Clifton Hill, Exeter, Devon, EX1 2DJ.
Principal activity
The principal activity of the company is owning property to derive rental income.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Long leasehold property | - | The lease and alterations are amortised at a straight line rate commensurate with its term | |
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at theend of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
6
(2021:
6
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5.
Tangible assets
Long leasehold property | Fixtures, fittings and equipment | Total | ||
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Cost | ||||
At 1 January 2022 and 31 December 2022 |
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Depreciation | ||||
At 1 January 2022 |
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Charge for the year |
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At 31 December 2022 |
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Carrying amount | ||||
At 31 December 2022 |
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At 31 December 2021 |
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A 99 year lease dated 1 January 1968 is held by the company in respect of 26b Clifton Hill,Exeter.An annual rental of £1 is payable to the freeholders, the Exeter Labour Party.
6.
Creditors: amounts falling due within one year
2022 | 2021 | |||
£ | £ | |||
Trade creditors |
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Social security and other taxes | 90 | 102 | ||
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798 | 766 | |||
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7.
Creditors: amounts falling due after more than one year
2022 | 2021 | |||
£ | £ | |||
Other creditors |
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8.
Reserves
Profit and loss account:This reserve records retained earnings and accumulated losses.
Directors' loans are repayable on demand and subject to interest on overdrawn balances at the official rate.