Chesham Model Flying Club Limited - Limited company accounts 16.1
Chesham Model Flying Club Limited - Limited company accounts 16.1
| REGISTERED NUMBER: |
| REPORT OF THE DIRECTORS AND |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 AUGUST 2015 |
| FOR |
| CHESHAM MODEL FLYING CLUB LIMITED |
| CHESHAM MODEL FLYING CLUB LIMITED (REGISTERED NUMBER: 02810774) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 AUGUST 2015 |
| Page |
| Company Information | 1 |
| Report of the Directors | 2 |
| Accountants' Report | 3 |
| Income and Expenditure Account | 4 |
| Balance Sheet | 5 | to | 6 |
| Notes to the Financial Statements | 7 | to | 8 |
| CHESHAM MODEL FLYING CLUB LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 AUGUST 2015 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| CHESHAM MODEL FLYING CLUB LIMITED (REGISTERED NUMBER: 02810774) |
| REPORT OF THE DIRECTORS |
| FOR THE YEAR ENDED 31 AUGUST 2015 |
| The directors present their report with the financial statements of the company for the year ended 31 August 2015. |
| DIRECTORS |
| The directors shown below have held office during the whole of the period from 1 September 2014 to the date |
| of this report. |
| Other changes in directors holding office are as follows: |
| This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 |
| relating to small companies. |
| ON BEHALF OF THE BOARD: |
| ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
| ON THE UNAUDITED FINANCIAL STATEMENTS OF |
| CHESHAM MODEL FLYING CLUB LIMITED |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval |
| the financial statements of Chesham Model Flying Club Limited for the year ended 31 August 2015 which |
| comprise the Income and Expenditure Account, the Balance Sheet and the related notes from the company's |
| accounting records and from information and explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook. |
| This report is made solely to the Board of Directors of Chesham Model Flying Club Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Chesham Model Flying Club Limited and state those matters that we have agreed to state to the Board of Directors of Chesham Model Flying Club Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that Chesham Model Flying Club Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Chesham Model Flying Club Limited. You consider that Chesham Model Flying Club Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of Chesham Model Flying Club Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| 16 December 2015 |
| CHESHAM MODEL FLYING CLUB LIMITED (REGISTERED NUMBER: 02810774) |
| INCOME AND EXPENDITURE ACCOUNT |
| FOR THE YEAR ENDED 31 AUGUST 2015 |
| 2015 | 2014 |
| Notes | £ | £ |
| TURNOVER |
| Administrative expenses |
| (7 | ) | 20 |
| Other operating income |
| OPERATING SURPLUS | 2 |
| Interest receivable and similar income |
| SURPLUS ON ORDINARY ACTIVITIES BEFORE TAXATION |
| Tax on surplus on ordinary activities | 3 |
| SURPLUS FOR THE FINANCIAL YEAR |
| CHESHAM MODEL FLYING CLUB LIMITED (REGISTERED NUMBER: 02810774) |
| BALANCE SHEET |
| 31 AUGUST 2015 |
| 2015 | 2014 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 5 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| RESERVES |
| Capital Reserve | 6 |
| Income and expenditure account | 6 |
| CHESHAM MODEL FLYING CLUB LIMITED (REGISTERED NUMBER: 02810774) |
| BALANCE SHEET - continued |
| 31 AUGUST 2015 |
| 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 surplus or deficit 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 were approved by the Board of Directors on its behalf by: |
| CHESHAM MODEL FLYING CLUB LIMITED (REGISTERED NUMBER: 02810774) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 AUGUST 2015 |
| 1. | ACCOUNTING POLICIES |
| Accounting convention |
| The financial statements have been prepared under the historical cost convention and in accordance |
| with the Financial Reporting Standard for Smaller Entities (effective April 2008). |
| Turnover |
| Turnover represents net invoiced sales of services, excluding value added tax. |
| Tangible fixed assets |
| Freehold Land | - |
| Improvements to Freehold Land | - |
| Motor mowers | - |
| Plant and Equipment | - |
| Containers | - |
| 2. | OPERATING SURPLUS |
| The operating surplus is stated after charging: |
| 2015 | 2014 |
| £ | £ |
| Depreciation - owned assets |
| Directors' remuneration and other benefits etc |
| 3. | TAXATION |
| In accordance with a recent H.M. Revenue and Customs directive, the company will not be liable to |
| Corporation Tax on its investment income for the foreseeable future. |
| 4. | TANGIBLE FIXED ASSETS |
| Improvements |
| to |
| Freehold | Freehold | Motor |
| Land | Land | mowers |
| £ | £ | £ |
| COST |
| At 1 September 2014 |
| and 31 August 2015 |
| DEPRECIATION |
| At 1 September 2014 |
| Charge for year |
| At 31 August 2015 |
| NET BOOK VALUE |
| At 31 August 2015 |
| At 31 August 2014 |
| CHESHAM MODEL FLYING CLUB LIMITED (REGISTERED NUMBER: 02810774) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2015 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Plant and |
| Equipment | Containers | Totals |
| £ | £ | £ |
| COST |
| At 1 September 2014 |
| and 31 August 2015 |
| DEPRECIATION |
| At 1 September 2014 |
| Charge for year |
| At 31 August 2015 |
| NET BOOK VALUE |
| At 31 August 2015 |
| At 31 August 2014 |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2015 | 2014 |
| £ | £ |
| Other creditors |
| 6. | RESERVES |
| Income |
| and |
| expenditure | Capital |
| account | Reserve | Totals |
| £ | £ | £ |
| At 1 September 2014 |
| Surplus for the year |
| At 31 August 2015 |
| The company is limited by guarantee and has no share capital. |
| The liability of each member is limited to £2 by guarantee. |
| The capital reserve represents the assets and liabilities transferred from Chesham Model Flying Club |
| to Chesham Model Flying Club Limited on the date of incorporation, and is non-distributable. |
| 7. | RELATED PARTY DISCLOSURES |
| The company was under the control of its Directors throughout the current and previous year. |
| No transactions with related parties were undertaken such as are required to be disclosed under |
| Financial Reporting Standard for Smaller Entities (effective April 2008). |