Company Registration Number 04613510 (England and Wales)
FREEMASONS' HALL (LEICESTER) LIMITED
(A COMPANY LIMITED BY GUARANTEE)
ANNUAL REPORT AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MAY 2023
PAGES FOR FILING WITH REGISTRAR
FREEMASONS' HALL (LEICESTER) LIMITED
(A COMPANY LIMITED BY GUARANTEE)
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
FREEMASONS' HALL (LEICESTER) LIMITED
(A COMPANY LIMITED BY GUARANTEE)
BALANCE SHEET
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
256,374
219,439
Investments
4
2
2
256,376
219,441
Current assets
Stocks
24,835
24,051
Debtors
5
249,016
179,289
Cash at bank and in hand
267,618
342,360
541,469
545,700
Creditors: amounts falling due within one year
6
(133,438)
(97,661)
Net current assets
408,031
448,039
Total assets less current liabilities
664,407
667,480
Creditors: amounts falling due after more than one year
7
(281,580)
(289,178)
Net assets
382,827
378,302
Reserves
Income and expenditure account
382,827
378,302
Members' funds
382,827
378,302
The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true
For the financial year ended 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
FREEMASONS' HALL (LEICESTER) LIMITED
(A COMPANY LIMITED BY GUARANTEE)
BALANCE SHEET (CONTINUED)
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 15 August 2023 and are signed on its behalf by:
B S Carruthers
Director
Company Registration No. 04613510
FREEMASONS' HALL (LEICESTER) LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023
- 3 -
1
Accounting policies
Company information
Freemasons' Hall (Leicester) Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is 80 London Road, Leicester, LE2 0RA.
1.1
Basis of preparation
These financial statements have been prepared in accordance with applicable accounting standards including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
1.2
Income and expenditure
Income and expenses are included in the financial statements as they become receivable or due.
1.3
Tangible fixed assets
Tangible fixed assets are measured at cost, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Plant and machinery
10% - 15% per annum on cost
Fixtures, fittings & equipment
5% - 25% per annum on cost
1.4
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in surplus or deficit.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
FREEMASONS' HALL (LEICESTER) LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
1
Accounting policies
(Continued)
- 4 -
1.5
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset, or the asset's cash generating unit is estimated and compared to the carrying amount in order to determine the extent of the impairment loss (if any). Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in the profit and loss account unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.
1.6
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Provision is made for damaged, obsolete and slow-moving stock where appropriate.
1.7
Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Debtors and creditors with no stated interest rate and receivable or payable within one year are measured at transaction price. Any losses arising from impairment are recognised in the profit and loss account.
1.8
Taxation
The company is exempt from corporation tax, it being a company not carrying on a business for the purposes of making a profit.
1.9
Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.
1.10
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.11
Leases
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.
1.12
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
FREEMASONS' HALL (LEICESTER) LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
- 5 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
37
30
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2022
1,060,947
Additions
93,655
At 31 May 2023
1,154,602
Depreciation and impairment
At 1 June 2022
841,508
Depreciation charged in the year
56,720
At 31 May 2023
898,228
Carrying amount
At 31 May 2023
256,374
At 31 May 2022
219,439
4
Fixed asset investments
2023
2022
£
£
Investments
2
2
FREEMASONS' HALL (LEICESTER) LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
4
Fixed asset investments
(Continued)
- 6 -
Movements in fixed asset investments
Shares in group undertakings
£
Cost or valuation
At 1 June 2022 & 31 May 2023
2
Carrying amount
At 31 May 2023
2
At 31 May 2022
2
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
126,852
114,269
Amounts owed by group undertakings
69,535
36,232
Other debtors
36,069
(474)
Prepayments and accrued income
16,560
29,262
249,016
179,289
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
44,565
45,490
Taxation and social security
33,156
19,753
Other creditors
23,265
22,893
Accruals and deferred income
32,452
9,525
133,438
97,661
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
281,580
289,178
8
Members' liability
The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.