New Camborne Liberal Hall Limited - Period Ending 2017-10-31
New Camborne Liberal Hall Limited - Period Ending 2017-10-31
Registration number:
FINANCIAL PERIOD DATA REFRESH REQUIRED
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New Camborne Liberal Hall Limited
(A company limited by guarantee)
for the Period from 19 October 2016 to 31 October 2017
Chartered Accountants
Unit 2 Brewery Court
Sea Lane
Hayle
Cornwall
TR27 4DP
New Camborne Liberal Hall Limited
Contents
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Company Information |
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Director's Report |
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Accountants' Report |
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Balance Sheet |
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Notes to the Financial Statements |
New Camborne Liberal Hall Limited
Company Information
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Director |
Mr Christopher Malcolm Tankard |
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Registered office |
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Accountants |
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Page 1 |
New Camborne Liberal Hall Limited
Director's Report for the Period from 19 October 2016 to 31 October 2017
The director presents his report and the financial statements for the period from 19 October 2016 to 31 October 2017.
Incorporation
The company was incorporated on
Director of the company
The director who held office during the period was as follows:
Principal activity
The principal activity of the company is Operation of community hall
Going concern
The company has made a loss in the year and is showing a deficit on net assets at the end of the year.
The director has confirmed his support of the business and will continue to support the cashflow of the hall through his directors loan account for the next 12 months.
Small companies provision statement
This report has 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.
Approved by the
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Director
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Page 2 |
Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
New Camborne Liberal Hall Limited
for the Period Ended 31 October 2017
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of New Camborne Liberal Hall Limited for the period ended 31 October 2017 as set out on pages 4 to 6 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
http://www.icaew.com/en/members/regulations-standards-and-guidance/.
This report is made solely to the Board of Directors of New Camborne Liberal Hall Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of New Camborne Liberal Hall Limited and state those matters that we have agreed to state to the Board of Directors of New Camborne Liberal Hall Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than New Camborne Liberal Hall Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that New Camborne Liberal Hall Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of New Camborne Liberal Hall Limited. You consider that New Camborne Liberal Hall Limited is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the accounts of New Camborne Liberal Hall 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 accounts.
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Chartered Accountants
Sea Lane
Hayle
Cornwall
TR27 4DP
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Page 3 |
New Camborne Liberal Hall Limited
(Registration number: 10436891)
Balance Sheet as at 31 October 2017
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Note |
2017 |
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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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Net current liabilities |
( |
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Net liabilities |
( |
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Capital and reserves |
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Profit and loss account |
( |
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Total equity |
( |
For the financial period ending 31 October 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his 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.
Approved and authorised by the
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Director
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Page 4 |
New Camborne Liberal Hall Limited
Notes to the Financial Statements for the Period from 19 October 2016 to 31 October 2017
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General information |
The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 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
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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.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
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:
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Page 5 |
New Camborne Liberal Hall Limited
Notes to the Financial Statements for the Period from 19 October 2016 to 31 October 2017
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Asset class |
Depreciation method and rate |
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Furniture and fittings |
Depreciation is not provided for in the year |
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.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
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Tangible assets |
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Land and buildings |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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Additions |
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At 31 October 2017 |
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Depreciation |
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Carrying amount |
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At 31 October 2017 |
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Included within the net book value of land and buildings above is £151,066 in respect of freehold land and buildings.
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Creditors |
Creditors: amounts falling due within one year
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2017 |
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Due within one year |
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Other creditors |
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Page 6 |