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Unaudited Financial Statements for the Year Ended 31st July 2020 |
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Oldfoggies Skiclub Limited |
REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31st July 2020 |
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for |
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Oldfoggies Skiclub Limited |
Oldfoggies Skiclub Limited (Registered number: SC305969) |
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Contents of the Financial Statements |
for the Year Ended 31st July 2020 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 | to | 4 |
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Report of the Accountants | 5 |
Oldfoggies Skiclub Limited |
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Company Information |
for the Year Ended 31st July 2020 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Dumfries Enterprise Park |
Heathhall |
Dumfries |
DUMFRIESSHIRE |
DG1 3SJ |
Oldfoggies Skiclub Limited (Registered number: SC305969) |
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Balance Sheet |
31st July 2020 |
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2020 | 2019 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 5 | ( |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | ( |
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( |
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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 |
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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 profit or loss 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. |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
its behalf by: |
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Oldfoggies Skiclub Limited (Registered number: SC305969) |
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Notes to the Financial Statements |
for the Year Ended 31st July 2020 |
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1. | STATUTORY INFORMATION |
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Oldfoggies Skiclub Limited is a
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and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Tangible fixed assets |
Amounts written off each asset over the estimated useful life represent cost less residual value. |
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The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. |
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Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life: |
Heritable property - 2% on cost |
Fixtures and fittings - 15% reducing balance |
Property improvements - 2% on cost |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. |
Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange |
differences are taken into account in arriving at the operating result. |
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Financial instruments |
Cash and cash equivalents |
Cash and cash equivalents comprise cash on hand and call deposits, and other short term highly liquid investments that are |
readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. |
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Trade debtors |
Trade debtors are amounts due from customers for the sale of goods and services performed in the ordinary course of business. |
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Trade debtors are recognised initially at the transaction price and represent the full value of the goods and services charged to |
customers, including any amounts charged on for third parties. |
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Trade creditors |
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from |
suppliers. |
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Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the |
reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional |
right to defer settlement for at least twelve months after the reporting date they are presented as non current liabilities. |
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Borrowings |
Interest bearing borrowings are initially recorded at fair value, net of transaction costs. Interest bearing borrowings are |
subsequently carried at amortised cost, with the difference between the proceeds, net of transactions costs, and the amount due on |
redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing. |
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Provisions and contingencies |
Provisions are recognised when the company has a present legal or constructive obligation as a result of past events; it is |
probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated |
reliably. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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Oldfoggies Skiclub Limited (Registered number: SC305969) |
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Notes to the Financial Statements - continued |
for the Year Ended 31st July 2020 |
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4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1st August 2019 |
and 31st July 2020 |
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DEPRECIATION |
At 1st August 2019 |
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Charge for year |
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At 31st July 2020 |
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NET BOOK VALUE |
At 31st July 2020 |
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At 31st July 2019 |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade creditors |
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Other creditors |
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6. | RELATED PARTY DISCLOSURES |
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At 31st July 2020 the company owed the following amounts to the directors of the company: |
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£52,719 - Mrs E A Kemp (2019 - £51,719) |
£52,719 - Mrs P M Mitchell (2019 - £51,719) |
£52,719 - Ms P A MacLaurin (2019 - £51,719) |
£52,719 - Dr G Garden (2019 - £51,719) |
£42,719 - Dr K Kramer (2019 - £41,719) |
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These amounts are repayable on demand and no interest is charged on the sums advanced. |
Oldfoggies Skiclub Limited |
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Report of the Accountants to the Directors of |
Oldfoggies Skiclub Limited |
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The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial |
statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are |
cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be |
filed with the Registrar of Companies. |
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As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31st July 2020 set out on pages three to six and you consider that the company is exempt from an audit. |
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In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us. |
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Dumfries Enterprise Park |
Heathhall |
Dumfries |
DUMFRIESSHIRE |
DG1 3SJ |
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