Company rogistralion nuMr. 01500364 LEIGH HERITAGE CENTRE LIMITED Company Ilmlted by guarantoe Unaudltod financlal 8tatsment8 3108¢omb•r 2023 T V M ACCOUNTANCY LTD Charterod A¢¢ountants
LEIGH HERITAGE CENTRE LIMITED Company limlted by guarants• Contents Pag• Oir8Ctots and other Information Directors report Accountants pOrt statement of income and retalned eamings Statement of financlal pogltion Notes to the financial statements 7.10
LEIGH HERITAGE CENTRE LIMITED Company Ilmlted by guarantee Dlrectorn and othor Infomiatlon Dlroctor• C Cottridge A Crystall S Hayes D Mulroney C Mulroney A Price R Osborne P G8$kell IRe519ned 27th March 20231 (Died 17th July 20231 8ocr•tsry C Cottridge Company nurnr 015¢)0384 Reghtfrred offlco 13A High Street L&lgh on Sea Essex SS9 2EN 8u8inu• addre•• 13A Hlgh Street Lewh on Sèa Essex S89 2EN Accountants T V M ACCOUNTANCY LTD 1422124 London Road Leigh on Sea Essex SS9 2UL Page 1
LEIGH HERITAGE CENTRE LIMITED Company Ilmltad by guarantee Olroctors report Y?ar ended 31st December 2023 The directors present Iheir report and the unaudited financial ststements of the company for the year ended 31 st December 2023. Dlrector8 The directors who served the company during the year were as folkiws.. C Cottridge A Crystsll S Hayes D Mulroney C Mulroney A Price R Osborne P Ga8kell (Resigned 27th March 20231 (Oigd 17th July 2023) Small company provlsions This r8POrt has been prepared In accordance wlth the provisions appllc8ble lo o)mpanwJ entitled lo the small companies exemption. This report was approved by the board of directors on 5th March 2024 and svJned on behalf of the board by.. C Cottridge DI¢10r Pago 2
LEIGH HERITAGE CENTRE LIMITED Company Ilmtted by guarant00 Chartered accountants report to the board of directors on the preparatlon of th• unaudlted statutory flnanclal statements of LEIGH HERITAGE CENTRE LIMITED Year ended 31st December 2023 In order to assist you to fLtIfiI your duties under the Companies Act 2006, we have prepared lor your approval the financial statements of LEIGH HERITAGE CENTRE LIMITED for the year ended 31st December 2023 which comprise the statement of income and retained earnings, statement of financial position and related notes from the company's accounts'ng record5 and from infomiation and explanations you have given us. As a practising member fi'rm of the Institut8 of Chartered Accounlanls in England and Wath IICAEWI, we are subject lo its ethical and other professional fequirements which are detailed at http'.IIMw.Icaew,com lenlmemberslregulations-slandards-and-guldan¢e/, This report is made solely to the board of directors of LEIGH HERITAGE CENTRE LIMITED, as a body, in accordance wllh the temis of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial slatemenls of LEIGH HERITAGE CENTRE LIMITED and state those matters th8t we have agreed to state lo the board of directors of LEIGH HERITAGE CENTRE LIMITED as a body, in this report in accordance with ICAEW Technical Release 07116 AAF. To the fullest extent permitted by law, w8 do not accept or assume responsibility to anyone othér than LEIGH HERITAGE CENTRE LIMITED and rts board of directors as a body for our work or for this report. It is your duty to ensure that LEIGH HERITAGE CENTRE LIMITED has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, flnancial position and profil of LEIGH HERITAGE CENTRE LIMITED. You consider that LEIGH HERITAGE CENTRE LIMITED 1$ exempt from the statutory audit requ1ment for the year. We have not beèn instructed lo carry out an audit or a review of the financial ststements of LEIGH HERITAGE CENTRE LIMITED. For this reason, we have not verified the accuracy or completeness of the accounting records or infomiation and explanations you have given to us and we do not, Iherefofe, express any opinion on the slatulory financial slalements. T V M ACCOUNTANCY LTD Chartered Accountants 1422124 London Road Lelgh on Sea Essex SS9 2UL 5th March 2024 Page 3
LEIGH HERITAGE CENTRE LIMITED Company Ilmltsd by guarantee Statement of Income and retalned earnlngs Year ended 31st Docgmber 2023 2023 2022 Note Turnover Cost of sales 40,568 (10.762) 23,686 18.772} Gross profit 29,806 14,914 Adminlstrative expenses (18,2561 {10,5041 Oporallng proflt 11,550 4.410 other interest receivable and similar income 688 91 Proflt bofor? tsx•tlon 12,238 4,501 T8x on proflt Profit for tho Ilnanclal y•ar and total compreh•nslve Incom• 12.238 4,501 All the activities of the company are from continuing operatn3. Tho noto5 on p•ges 7 to 10 form part of these flnan¢lal slat¢m•nts. Page 4
LEIGH HERITAGE CENTRE LIMITED Company Ilmltgd by guaranto• Statemertl of flnanclal posltlon 31st December 2023 2023 2022 Not• Fixed assets Tangible assets 12,600 12,709 12,600 12,709 Current a880ts Stocks Debtors Cash at bank and in hand 5,384 255 63,582 5.158 52,444 69.221 57,802 Crodltor•: amounts falling duo wlthln one year 11,0381 {1,7661 Not current usets 68,183 55,836 Totsl •••et• 10•8 curront Ilabllltl 80.783 68,545 Nfrt OS•et• 80,783 68,545 Capltal and ro8•rv08 Profit and loss account 80,783 68,545 Memb8rn funds 80.783 68.545 For th& year ènding 31s1 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors responsibilit5.. The members have not required the company lo obtain an audit of ils financial s18temenls for the year in question in accordance with section 476., The directors acknIledge their responsibililtes for complying with the requirements of the Act with respe¢l to accounting reGords and the preparation of financial statements. These financial statements have been prepared in accordance with the provisions applicable lo companies subject lo the small companies, regime and in accordance with Section 1A of FRS 102 'The Financial Reportt'ng Standard applicable in the UK and Republic of Ireland,. The notes on Pag 7 to 10 forni part of these financial statemènts. Page 5
LEIGH HERITAGE CENTRE LIMITED Company Ilmtted by guarantee Statement of financial position Icontinugd 31st Decemb?r 2023 These financial statements were approved by the board of directors and authodsed for Issue on 51h March 2024, and are signed on behalf of the board by.. R Osbome Director Company reglstration number. 01500364 The notes on pages 7 to 10 form part of theso flnanclal statsmonts. Pag• 6
LEIGH HERITAGE CENTRE LIMITED Company limited by guaranto9 Notes to the flnanclal statements Yoar ended 31st December 2023 Genoral Informatlon The company is a private company Ilmiled by guarantee, regISted In England. The address of the registered office is 13A High Street, Leigh on Sea, Essex, SS9 2EN. Statement of compllance These financial statements hav8 been prepared in compliance with the provisions of FRS 102. Section 1 A. 'The Financial Reporting Standard applicable in the UK and Republic of Ireland.. Accountlng pollclo8 Ba81• of pr8parallon The financial statements have been prepared on the historical cost basis, as modifled by the revaluation of certain financial assets and Ilabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in Sterling, which 18 the functional currency of the entity. Turnovor Turnover is measured at the fair valu8 of thè consid8ralion recèivéd or receivablè for goods supplied 8nd services r8ndered, nel of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred lo the buyer (usually on de$p8t¢h of the goods)., the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity,, and the costs incurred or to be incurred in re9pecl of the transactions can be measured reliably. Turnover lor the year comprised Sales £21,272 { last year £20,725) Donations and fund raising £16,731 1 last year £2,961 1 Subscriptions £1,905 1 last year £0 I Events - Income £660 { last year £0 } Taxatlon The taxaln expense repfftsenls the aggregate amount of curnt and deferd tax recognised in the porting period. Tax is recognlsed in the statement of comprehenslve income, except lo the extent that it relates lo items reoognised in other comprehensive income or directly in capital and reseNes. In this case, tax is recognised in other comprehensive income or directly in capital and reserves. respectively. Current tsx is recognised on taxable profit for the current and past periods. Current lax is measured at the amounts of tsx expected lo pay or recover using the lax rates and laws that have been enacted or subslanlively enacted at the reporting dale. Deferred lax is recognised in fespecl of all timing dlfferences al the reporting date. Unrelieved tax 105ses and other deferred tax assets are recognised to the extent that il is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measu using the tax rates and laws that have been enacted or subslanlively enacted by the reports'ng dale that are expected lo apply to the reversal of the timing difference. Page 7
LEIGH HERITAGE CENTRE LIMITED Company Ilmltsd by guarantee Notu to the flnanclal statements Icontlnuedl Yoar ended 31st December 2023 Tangible assets Tangible assets are initially recorded at cost, and are subsequently staled at cost less any accumulated depreciation and impairment losses. Any tangible assets Carried at revalued amounts are recorded al the fair value al the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An irscrease in the carrying amount of an asset as a result of a Valuatt.0n, Is recognised in other comprehensive Income and accumulated in capital and reserves, except to the extent il reverses a revaluation decrease of the same asset previously recognised in profit or loss. A deorease in the carying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously reco9nis8d revaluation increase accumulated in capital and reserves in respect of that assèt. whe a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reseryes in r8spe¢t of that asset, the excess shall be recognised in profit or loss. D•proelatlon Depfecialion is calculat8d so as to Write off the cost or valuation of an asset, lèss Its residual value, over the useful economic lrfe of that asset as follows.. Long aSehOld property Fixtures, fittings and equipment over 5 10 8 ygars not depreciated 20% If there is an indication that there has been 8 slgniranI change in depreciatlon rate, useful lif8 or residual value of tangible 8ssets. the depreciatson is revised prospectively to reflect the new estimates. Impalrm•nt A review for indicators of impairmént is carried out at each reporting dale, wllh the recoverabkg amount being estimated where such indicator5 exlst. Where the Carrying value exceeds the recovèrable amount, the asset is impaired accordingly. Prior impairment8 are also reviewed for possible reversal at each reporting dale. When it is not possible lo estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unil lo which the asset belongs. The cash4enerating unil is the smallest i¢Jentifiable group of assets that includes the agset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. Stockg Stocks are measured at Ihe lower of cost and estimated selling price less ¢osls to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks lo their present location and condition. Page 8
LEIGH HERITAGE CENTRE LIMITED Company limited by guarantee Notes to the flnanclal statements Icontlnued) Yoar gndod 31st Dgcgrnber 2023 Flnanclal Instruments A financial asset or a financial liability is recognised only when the company becomes a paty to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transa¢lion priGe, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the fvture payments discounted at a market rate of interest for a similar debt instrument. Debt instruments a subsequently MeaSud al amortised cost. Where invèstments in non-convertible preference shares and non-puttable ordinary shares or pr&ferenee sharas are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. Al other such investments are subsequently measured at cost less impairment. Other financial instrumenls, including derivatives. are initially recognised at falr value, unless payment for an asset Is deferred beyond normal business terms or financed at a rale of inleresl that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rat& of inter85t for a similar debt instrument. Other financial instruments are subsequently measured at fair value. wth any changes CognISed in profil or loss. wlh the exception of hedging instfuments in a designated hedging relats'onship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at Ihe end of each reporting date. If there is objective evidence of impairment, an irnpairment loss is recognised in profit or loss immediately. For all equty Instruments regardless of slgnlficance, and other financial assets that are individually signlficanl, these are assessed individually for impaim8nt. Other financial assets or either assessed individually or grouped on the basis of simllar credit risk characlerisJcs. Any reversals of impairment are recogni88d in profil or loss immediately, lo the extent that the reversal does not result in a carrying amount of the fi'nancial asset that exceeds what the carrying amount would have been had the impairment not previously been re¢ognised, Llmltod by gu•ranl All members of the Association undertake to contribute lo the assets of the Association, in the event of the same being wound up whilst they are members, or within one year after ceasing lo be members, for payment of debts and liabilities of the Association conlraeted before they cease lo be members, and ol the costs, charges and expenses of winding up, and for the adjustment of thè nghts of the conth'butories among themselves, such amounl as may be required not exceeding 50 pence. Profft before tsxatlon Profit tefore taxation is stated after chargingllereditingl.. 2023 2022 D8preciation of tanglble assets 109 137 Page 9
LEIGH HERITAGE CENTRE LIMITED Company Ilmlted by guarantee Note8 to the financlal statements l¢ontinued) Year ended 31st Docember 2023 Tanglble a88et8 Long Fixtures, leasehold fittings and property equipment Totsl Cost At 1st January 2023 and 318t De¢ember 2023 Depreclatlon Al 1st January 2023 Charge for the year At 318t Decofflber 2023 12,161 9,207 21.368 8,659 109 8.659 109 8.768 8,768 Corrylng amount At 318t De¢omber 2023 12,161 439 12,600 At 31st December 2022 12,161 548 12,709 D•btorn 2023 2022 Olher debtors 255 Cr•dltorn: amount• lalllng duo wlthln one year 2023 2022 Other creditors 1,038 1,766 Controlllng party There Is no controlling party. Page 10