Company Registration No. 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 2021
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 - 7
FREEMASONS' HALL (LEICESTER) LIMITED
(A COMPANY LIMITED BY GUARANTEE)
BALANCE SHEET
- 1 -
2021
2020
Notes
£
£
£
£
Fixed assets
Tangible assets
3
219,925
253,829
Investments
4
2
2
219,927
253,831
Current assets
Stocks
19,537
23,643
Debtors
5
115,338
174,658
Cash at bank and in hand
373,036
256,362
507,911
454,663
Creditors: amounts falling due within one year
6
(48,597)
(78,698)
Net current assets
459,314
375,965
Total assets less current liabilities
679,241
629,796
Creditors: amounts falling due after more than one year
7
(296,777)
(304,375)
Net assets
382,464
325,421
Reserves
Income and expenditure account
382,464
325,421
Members' funds
382,464
325,421
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 2021 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.
T
he 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 18 August 2021 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 2021
- 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 a
mounts
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 or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation 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 2021
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.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit)
in
prior years. A reversal of an impairment loss is recognised immediately in surplus or deficit, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
1.6
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
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.
FREEMASONS' HALL (LEICESTER) LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2021
1
Accounting policies
(Continued)
- 5 -
1.12
Government grants
Government grants are recognised at the fair value of the asset receive
d
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.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2021
2020
Number
Number
Total
25
40
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2020
998,590
Additions
14,466
At 31 May 2021
1,013,056
Depreciation and impairment
At 1 June 2020
744,761
Depreciation charged in the year
48,370
At 31 May 2021
793,131
Carrying amount
At 31 May 2021
219,925
At 31 May 2020
253,829
4
Fixed asset investments
2021
2020
£
£
Investments
2
2
FREEMASONS' HALL (LEICESTER) LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2021
4
Fixed asset investments
(Continued)
- 6 -
Movements in fixed asset investments
Shares in group undertakings
£
Cost or valuation
At 1 June 2020 & 31 May 2021
2
Carrying amount
At 31 May 2021
2
At 31 May 2020
2
5
Debtors
2021
2020
Amounts falling due within one year:
£
£
Trade debtors
91,118
97,104
Amounts owed by group undertakings
4,653
25,650
Other debtors
11,339
40,485
Prepayments and accrued income
8,228
11,419
115,338
174,658
6
Creditors: amounts falling due within one year
2021
2020
£
£
Trade creditors
15,207
10,758
Taxation and social security
8,640
32,392
Other creditors
17,292
28,849
Accruals and deferred income
7,458
6,699
48,597
78,698
7
Creditors: amounts falling due after more than one year
2021
2020
£
£
Other creditors
296,777
304,375
FREEMASONS' HALL (LEICESTER) LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2021
- 7 -
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.
9
Events after the reporting date
During the year, there has been an impact on turnover as a result of the coronavirus (Covid-19) pandemic. in response to this, the company has utilised the job retention scheme and implemented a recovery strategy to secure the position of the business. As the situation is ongoing future restrictions are unknown and the full financial effect of the pandemic cannot currently be estimated.
2021-05-31
2020-06-01
false
25 August 2021
CCH Software
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B S Carruthers
A de Rodriguez Pearse
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