Company Registration No. 07426901 (England and Wales)
ST PANCRAS BOYS CLUB LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2015
ST PANCRAS BOYS CLUB LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
ST PANCRAS BOYS CLUB LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 JUNE 2015
30 June 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
4,468
5,958
Investments
2
1
1
4,469
5,959
Current assets
Debtors
1,113
-
Cash at bank and in hand
22,883
29,891
23,996
29,891
Creditors: amounts falling due within one year
(29,103)
(34,816)
Net current liabilities
(5,107)
(4,925)
Total assets less current liabilities
(638)
1,034
Capital and reserves
Profit and loss account
(638)
1,034
Shareholders' funds
(638)
1,034
For the financial year ended 30 June 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
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;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 31 March 2016
G A Springer
Director
Company Registration No. 07426901
ST PANCRAS BOYS CLUB LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2015
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
The going concern basis is still considered by the directors to be appropriate as the parent charity has undertaken to support the subsidiary in meeting any liabilities it has in the future as they fall due.
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts ground rent receivable.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Fixtures, fittings & equipment
25% reducing balance.
1.5
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
2
Fixed assets
Tangible assets
Investments
Total
£
£
£
Cost
At 1 July 2014 & at 30 June 2015
14,123
1
14,124
Depreciation
At 1 July 2014
8,165
-
8,165
Charge for the year
1,490
-
1,490
At 30 June 2015
9,655
-
9,655
Net book value
At 30 June 2015
4,468
1
4,469
At 30 June 2014
5,958
1
5,959
The company has granted long leases on 7 flats at 25-27 Talacre Road, on which it receives ground rents.
ST PANCRAS BOYS CLUB LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2015
- 3 -
3
Limited liability
The company is limited by guarantee and has no share capital. Each member of the company is liable for all debts in excess of assets of the company for an amount not exceeding £1 each in the event of the company being wound up.