Gillingham Masonic Club Company Limited - Accounts to registrar (filleted) - small 18.1
Gillingham Masonic Club Company Limited - Accounts to registrar (filleted) - small 18.1
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2017 |
FOR |
GILLINGHAM MASONIC CLUB COMPANY LIMITED |
GILLINGHAM MASONIC CLUB COMPANY LIMITED (REGISTERED NUMBER: 00176643) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2017 |
Page |
Company Information | 1 |
Balance Sheet | 3 |
Notes to the Financial Statements | 5 |
GILLINGHAM MASONIC CLUB COMPANY LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 AUGUST 2017 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Bank Chambers |
1 Central Avenue |
SITTINGBOURNE |
Kent |
ME10 4AE |
BANKERS: |
231 High Str |
Chatham |
Kent |
ME4 4BQ |
GILLINGHAM MASONIC CLUB COMPANY LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 AUGUST 2017 |
SOLICITORS: |
41 Railway Street |
Chatham |
Kent |
ME4 4RH |
GILLINGHAM MASONIC CLUB COMPANY LIMITED (REGISTERED NUMBER: 00176643) |
BALANCE SHEET |
31 AUGUST 2017 |
31.8.17 | 31.8.16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Capital redemption reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 profit or loss 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. |
GILLINGHAM MASONIC CLUB COMPANY LIMITED (REGISTERED NUMBER: 00176643) |
BALANCE SHEET - continued |
31 AUGUST 2017 |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors on |
GILLINGHAM MASONIC CLUB COMPANY LIMITED (REGISTERED NUMBER: 00176643) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2017 |
1. | STATUTORY INFORMATION |
Gillingham Masonic Club Company Limited is a |
Wales. The company's registered number and registered office address can be found on the Company |
Information page. |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents income from the letting of rooms for functions and meetings and franchise fees. The |
company is not registered for value added tax. |
Tangible fixed assets |
Freehold property | - |
Improvements to property | - |
Fixtures and fittings | - |
GILLINGHAM MASONIC CLUB COMPANY LIMITED (REGISTERED NUMBER: 00176643) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2017 |
3. | ACCOUNTING POLICIES - continued |
Financial instruments |
The company enters into basic financial instruments that result in the recognition of financial assets and |
liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and |
loans to related parties. |
a) Trade and other debtors |
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the |
effective interest method, less impairment losses for bad and doubtful debts except where the effect of |
discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for |
bad and doubtful debts. |
b) Cash and cash equivalents |
Cash and cash equivalents comprise cash at bank and in hand. |
c) Impairment of financial assets |
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period |
for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is |
recognised in profit or loss. |
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an |
asset's carrying amount and the present value of estimated cash flows discounted at the asset's original |
effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any |
impairment loss is the current effective interest rate determined under the contract. |
For financial assets measured at cost less impairment, the impairment loss is measured as the difference |
between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the |
company would receive for the asset if it were to be sold at the reporting date. |
d) Trade and other creditors |
Debt instruments like loans and other accounts payable are initially measured at present value of the future |
payments and subsequently at amortised cost using the effective interest method. Debt instruments that are |
payable within one year, typically trade payables, are measured, initially and subsequently, at the undiscounted |
amount of the cash or other consideration expected to be paid. However, if the arrangements of a short-term |
instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business |
terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at |
market rate, the financial asset is measured, initially and subsequently, at the present value of the future |
payments discounted at a market rate of interest for a similar debt instrument. |
Financial assets and liabilities are offset and the net amount reported in the statement of financial position when |
there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis |
or to realise the asset and settle the liability simultaneously. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to |
the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
substantively enacted by the balance sheet date. |
GILLINGHAM MASONIC CLUB COMPANY LIMITED (REGISTERED NUMBER: 00176643) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2017 |
3. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws |
that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal |
of the timing difference. |
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. |
Impairment of non-financial assets |
At each reporting date non-financial assets not carried at fair value, like plant and equipment, are reviewed, to |
determine whether there is an indication that an asset may be impaired. If there is an indication of possible |
impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use |
and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable |
amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss |
is recognised immediately in profit and loss. |
Inventories are also assessed for impairment at each reporting date. Each item of inventory is compared to the |
last sold date and an impairment loss recognised on a percentage basis in profit and loss. |
If an impairment loss is subsequently reversed, the carrying amount of the asset or group of related assets is |
increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been |
determined had no impairment loss been recognised for the asset or group of related assets in prior periods. A |
reversal of an impairment loss is recognised immediately in profit and loss. |
Significant judgements and estimates |
In the application of the company's accounting policies, management is required to make judgements, estimates |
and assumptions about the carrying value of assets and liabilities that are not readily apparent from other |
sources. The estimates and underlying assumptions are based on historical experience and other factors that |
are considered relevant. Actual results may differ from these estimates. The estimates and underlying |
assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period |
to which the estimate is revised if the revision affects only that period or in the period of the revision and future |
periods if the revision affects both current and future periods. The key sources of estimation uncertainty that |
have a significant effect on the amounts recognised in the financial statements are the depreciation charges that |
are calculated with reference to the useful economic life of fixed assets. |
GILLINGHAM MASONIC CLUB COMPANY LIMITED (REGISTERED NUMBER: 00176643) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2017 |
4. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
Freehold | to | and |
property | property | fittings | Totals |
£ | £ | £ | £ |
COST |
At 1 September 2016 |
and 31 August 2017 |
DEPRECIATION |
At 1 September 2016 |
Charge for year |
At 31 August 2017 |
NET BOOK VALUE |
At 31 August 2017 |
At 31 August 2016 |
Included in cost of land and buildings is freehold land of £ 6,886 (2016 - £ 6,886 ) which is not depreciated. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.8.17 | 31.8.16 |
£ | £ |
Trade debtors |
Accrued income |
Prepayments |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.8.17 | 31.8.16 |
£ | £ |
Debentures |
Bank loans and overdrafts |
Other loans - less than 1 yr |
Taxation |
Other creditors |
Deferred Income |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.8.17 | 31.8.16 |
£ | £ |
Debentures - 2-5 years |
GILLINGHAM MASONIC CLUB COMPANY LIMITED (REGISTERED NUMBER: 00176643) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2017 |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.8.17 | 31.8.16 |
value: | £ | £ |
Ordinary | £1 | 10,000 | 10,000 |
Gillingham Masonic Club Company Limited own shares in their own company to the nominal value of £404. |
9. | ULTIMATE CONTROLLING PARTY |
There is no Ultimate Controlling Party. |