Lagonda Club Limited - Accounts to registrar - small 17.2
Lagonda Club Limited - Accounts to registrar - small 17.2
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 March 2017 |
for |
LAGONDA CLUB LIMITED |
LAGONDA CLUB LIMITED (REGISTERED NUMBER: 02166365) |
Contents of the Financial Statements |
for the Year Ended 31 March 2017 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
LAGONDA CLUB LIMITED |
Company Information |
for the Year Ended 31 March 2017 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANT: |
Chartered Certified Accountant |
3 Ballards Rise |
South Croydon |
Surrey |
CR2 7JT |
LAGONDA CLUB LIMITED (REGISTERED NUMBER: 02166365) |
Balance Sheet |
31 March 2017 |
31.3.17 | 31.3.16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 3 |
CURRENT ASSETS |
Stocks | 4 |
Debtors | 5 |
Prepayments and accrued income |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
RESERVES |
Revaluation reserve |
Income and expenditure account |
MEMBERS' 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 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. |
LAGONDA CLUB LIMITED (REGISTERED NUMBER: 02166365) |
Balance Sheet - continued |
31 March 2017 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors on by: |
LAGONDA CLUB LIMITED (REGISTERED NUMBER: 02166365) |
Notes to the Financial Statements |
for the Year Ended 31 March 2017 |
1. | STATUTORY INFORMATION |
Lagonda Club Limited is a |
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 is measured at the fair value of the consideration received or receivable, excluding discounts, |
rebates, value added tax and other sales taxes. |
Tangible fixed assets |
All tangible fixed assets are shown at cost with the exception of trophies and awards which are stated at |
valuation and are not depreciated. |
Depreciation on other fixed assets is provided on the following basis in order to write off each asset over its |
estimated useful life. |
Patterns & drawings is depreciated on a 'units of production' basis. Accordingly the depreciation is charged |
based on the actual usage of the assets. Periodic assessments of their value based on the total life and usage |
to date is made and any necessary adjustments to the net book value is made annually. |
Plant and machinery etc. - 25% on reducing balance |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and |
slow moving items. |
Taxation |
The company is a members' club which is involved in mutual trading. Hence it is not liable to tax on any |
profits arising from their mutual trading. |
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. |
LAGONDA CLUB LIMITED (REGISTERED NUMBER: 02166365) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2017 |
3. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 April 2016 |
Additions |
At 31 March 2017 |
DEPRECIATION |
At 1 April 2016 |
Charge for year |
At 31 March 2017 |
NET BOOK VALUE |
At 31 March 2017 |
At 31 March 2016 |
Plant and machinery includes trophies and awards which are stated at valuation and are not depreciated and |
patterns and drawings which are depreciated on a 'unit of production' basis and charged according to actual |
usage of the assets. |
4. | STOCKS |
31.3.17 | 31.3.16 |
£ | £ |
Regalia and literature | 9,575 | 9,504 |
Spares - new |
Spares - used | 21,439 | 22,726 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.17 | 31.3.16 |
£ | £ |
Trade debtors |
Other debtors |
LAGONDA CLUB LIMITED (REGISTERED NUMBER: 02166365) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2017 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.17 | 31.3.16 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
7. | COMPANY LIMITED BY GUARANTEE |
The club is a company limited by guarantee and does not have a share capital. In accordance with the |
Memorandum of Association, "every member of the club undertakes to contribute to the assets of the club |
in the event of the club being wound up during the time he is a member or within one year afterwards for |
payment of the debts and liabilities of the club contracted before the time at which he ceases to be a |
member, and of the cost, charges and expenses of winding up of the same and for the adjustments of the |
rights of the contributions amongst themselves, a sum not exceeding £5". |