| Thursdays Trust Ltd |
| Registered number: |
05186546 |
| Balance Sheet |
| as at 31 July 2023 |
|
| Notes |
|
|
2023 |
|
|
2022 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
10,140 |
|
|
96 |
|
| Current assets |
| Debtors |
4 |
|
92 |
|
|
- |
| Cash at bank and in hand |
|
|
1,681 |
|
|
4,855 |
|
|
|
1,773 |
|
|
4,855 |
|
| Creditors: amounts falling due within one year |
5 |
|
(19,079) |
|
|
(7,611) |
|
| Net current liabilities |
|
|
|
(17,306) |
|
|
(2,756) |
|
| Total assets less current liabilities |
|
|
|
(7,166) |
|
|
(2,660) |
|
| Creditors: amounts falling due after more than one year |
6 |
|
|
(7,739) |
|
|
- |
|
|
|
| Net liabilities |
|
|
|
(14,905) |
|
|
(2,660) |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Reserves |
7 |
|
|
(14,905) |
|
|
(2,660) |
|
| Shareholders' funds |
|
|
|
(14,905) |
|
|
(2,660) |
|
|
|
|
|
|
|
|
| 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. |
|
|
|
|
| Mr M Watkins |
| Director |
| Approved by the board on 1 March 2024 |
|
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
|
|
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, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Leasehold Improvements |
over 10 years |
|
Fixtures, fittings and equipment |
over 6.66 years |
|
Plant and Machinery |
over 5 years |
|
|
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 |
|
There is no tax payable as the company is a not for profit making orgnaisation. |
|
|
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 |
2023 |
|
2022 |
| Number |
Number |
|
|
Average number of persons employed by the company |
0 |
|
0 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
Leasehold Improvements to Land and buildings |
|
Plant and machinery etc |
|
Total |
| £ |
£ |
£ |
|
Cost |
|
At 1 August 2022 |
24,958 |
|
15,693 |
|
40,651 |
|
Additions |
- |
|
12,600 |
|
12,600 |
|
At 31 July 2023 |
24,958 |
|
28,293 |
|
53,251 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 August 2022 |
24,958 |
|
15,597 |
|
40,555 |
|
Charge for the year |
- |
|
2,556 |
|
2,556 |
|
At 31 July 2023 |
24,958 |
|
18,153 |
|
43,111 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 July 2023 |
- |
|
10,140 |
|
10,140 |
|
At 31 July 2022 |
- |
|
96 |
|
96 |
|
|
| 4 |
Debtors |
2023 |
|
2022 |
| £ |
£ |
|
|
Other debtors |
92 |
|
- |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2023 |
|
2022 |
| £ |
£ |
|
|
Trade creditors |
7,334 |
|
1,677 |
|
Loan from members |
1,301 |
|
- |
|
Deferred Grant Income |
2,580 |
|
- |
|
Other creditors |
7,864 |
|
5,934 |
|
|
|
|
|
|
19,079 |
|
7,611 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due after one year |
2023 |
|
2022 |
| £ |
£ |
|
|
Deferred Grant Income due after 12 months |
7,739 |
|
- |
|
|
|
|
|
|
|
|
|
|
| 7 |
Statement of movement on reserves |
2023 |
|
2022 |
| £ |
£ |
|
|
Balance as at 1st August 2022 |
(2,660) |
|
(764) |
|
Deficit for the Year |
(12,245) |
|
(1,896) |
|
|
Balance as at 31st July 2023 |
(14,905) |
|
(2,660) |
|
|
|
|
|
|
|
|
|
|
|
| 8 |
Related party transactions |
|
|
During the year the director, Mr T D Indge continued to rent a room at the Pen-Y-Pound Stadium. Mr T D Indge paid a total of £1,125 in rent during the year. (2022: £NIL)
All transactions are at arms length. |
|
| 9 |
Unauthorised Director Appointments and Resginations |
|
|
During 2022/23 directors of the Thursdays Trust Limited experienced considerable difficulties whereby a number of directors were unlawfully appointed and terminated by other directors of the company which was actioned outside of their remit and without prior consent of the Board. As a result there were multiple changes to directors during 2022/23.
These said directors also took over the management of the Company bank account and closed the account post yearend. As a result limited books and records were available for the preparation of both the 31st July 2022 and 31st July 2023 accounts.
|
|
| 10 |
Unauthorised Exepnditure |
|
|
As a result of difficulties experienced by the Thursdays Trust Limited during the year ending 31st July 2023 the Thursdays Trust Ltd incurred costs of £5,184 whereby these said directors took control of the company bank account and spent funds of the Trust on unauthorised expenditure. These directors have now mee removed from the Thursdays Trust Limited board. |
|
| 11 |
Other information |
|
|
Thursdays Trust Ltd is a private company limited by guarantee and incorporated in England and Wales. Its registered office is: |
|
The Old Bank |
|
Beaufort Street |
|
Crickhowell |
|
Powys |
|
NP8 1AD |
