Old Northamptonians Association Limited - Limited company accounts 18.2
Old Northamptonians Association Limited - Limited company accounts 18.2
REGISTERED NUMBER: |
Report of the Directors and |
Unaudited Financial Statements For The Year Ended 31 May 2018 |
for |
The Old Northamptonians Association |
Limited |
The Old Northamptonians Association |
Limited (Registered number: 06498032) |
Contents of the Financial Statements |
For The Year Ended 31 May 2018 |
Page |
Company Information | 1 |
Report of the Directors | 2 |
Income Statement | 3 |
Balance Sheet | 4 |
Notes to the Financial Statements | 5 |
The Old Northamptonians Association |
Limited |
Company Information |
For The Year Ended 31 May 2018 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
The Old Northamptonians Association |
Limited (Registered number: 06498032) |
Report of the Directors |
For The Year Ended 31 May 2018 |
The directors present their report with the financial statements of the company for the year ended 31 May 2018. |
DIRECTORS |
The directors shown below have held office during the whole of the period from 1 June 2017 to the date of this report. |
The company is limited by guarantee and consequently the directors have no beneficial interest in any share capital. |
Under the Memorandum of Association the directors form the Management Committee of the company. |
In the event of the winding up of the company, after satisfaction of all its debts and liabilities, the assets remaining shall |
be transferred in the furtherance of the objects stated above to any organisation having objects similar to or compatible |
with any objects of the co-operative as may be determined by a General Meeting or, insofar as the assets are not |
transferred, shall be held for charitable purposes. |
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: |
The Old Northamptonians Association |
Limited (Registered number: 06498032) |
Income Statement |
For The Year Ended 31 May 2018 |
2018 | 2017 |
Notes | £ | £ |
TURNOVER |
Cost of sales |
GROSS SURPLUS |
Administrative expenses |
OPERATING DEFICIT | 4 | ( |
) | ( |
) |
Interest receivable and similar income |
(6,001 | ) | (291 | ) |
Interest payable and similar expenses |
DEFICIT BEFORE TAXATION | ( |
) | ( |
) |
Tax on deficit |
DEFICIT FOR THE FINANCIAL YEAR | ( |
) | ( |
) |
The Old Northamptonians Association |
Limited (Registered number: 06498032) |
Balance Sheet |
31 May 2018 |
2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
RESERVES |
Income and expenditure account |
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 by: |
The Old Northamptonians Association |
Limited (Registered number: 06498032) |
Notes to the Financial Statements |
For The Year Ended 31 May 2018 |
1. | STATUTORY INFORMATION |
The Old Northamptonians Association Limited is a |
and Wales. The company's registered number and registered office address can be found on the Company |
Information page. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents monies received (excluding value added tax) from bar sales and other activities. |
Tangible fixed assets |
Plant and machinery etc | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and |
slow moving items. |
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. |
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. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to surplus or deficit on a straight line basis over the period of |
the lease. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
The Old Northamptonians Association |
Limited (Registered number: 06498032) |
Notes to the Financial Statements - continued |
For The Year Ended 31 May 2018 |
4. | OPERATING DEFICIT |
The operating deficit is stated after charging: |
2018 | 2017 |
£ | £ |
Depreciation - owned assets |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
New | Plant and | and | Office |
Clubhouse | machinery | fittings | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 June 2017 |
Additions |
At 31 May 2018 |
DEPRECIATION |
At 1 June 2017 |
Charge for year |
At 31 May 2018 |
NET BOOK VALUE |
At 31 May 2018 |
At 31 May 2017 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Trade creditors |
Taxation and social security |
Other creditors |
The Old Northamptonians Association |
Limited (Registered number: 06498032) |
Notes to the Financial Statements - continued |
For The Year Ended 31 May 2018 |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
2018 | 2017 |
£ | £ |
Hire purchase contracts | - | 2,747 |
9. | RELATED PARTY DISCLOSURES |
Mr John TG Harris, is a director of the Old Northamptonians Association Limited. In addition he is a partner in |
Harris & Clarke LLP who provide payroll and company secretarial services to the Old Northamptonians |
Association Limited. During the year under review the cost of these services amounted to £1,645 (2017 - |
£1,660). |
10. | CONTINGENT LIABILITY |
The company pays rental to the Northampton Old Grammar School Foundation, currently in the sum of £8,000 |
per annum. The lease is subject to a rent review clause which is currently being negotiated. The directors do not |
consider it likely that a material change in the annual charge is likely. |