REPORT OF THE DIRECTORS AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023
FOR
MALPAS VINTAGE MACHINERY ASSOCIATION LTD
MALPAS VINTAGE MACHINERY ASSOCIATION LTD
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023
| Page | |
|---|---|
| Company Information | 1 |
| Report of the Directors | 2 |
| Income Statement | 3 |
| Balance Sheet | 4 |
| Notes to the Financial Statements | 5 |
| Trading and Profit and Loss Account | 7 |
MALPAS VINTAGE MACHINERY ASSOCIATION LTD
COMPANY INFORMATION FOR THE YEAR ENDED 31ST DECEMBER 2023
DIRECTORS: T J Littler A Barratt J R Blackwell R C Langley R J Gosmore J J H Lindsay J R Webb M Bradbury SECRETARY: Mrs A J Littler REGISTERED OFFICE: Park Lodge Rhosddu Road Wrexham WREXHAM LL11 1NF REGISTERED NUMBER: 01687888 (England and Wales) ACCOUNTANTS: GODFREY EDWARDS Park Lodge Rhosddu Road Wrexham WREXHAM LL11 1NF
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MALPAS VINTAGE MACHINERY ASSOCIATION LTD
REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31ST DECEMBER 2023
The directors present their report with the financial statements of the company for the year ended 31st December 2023.
PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of holding a steam rally to raise funds for the charity. Charity number 514476
DIRECTORS
The directors shown below have held office during the whole of the period from 1st January 2023 to the date of this report.
T J Littler A Barratt J R Blackwell R C Langley R J Gosmore J J H Lindsay J R Webb M Bradbury
Other changes in directors holding office are as follows:
W Evans - resigned 19th October 2023 G W Moore - resigned 19th October 2023 R W Pickering - resigned 19th October 2023
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.
ON BEHALF OF THE BOARD:
T J Littler - Director
8th May 2024
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MALPAS VINTAGE MACHINERY ASSOCIATION LTD
INCOME STATEMENT
FOR THE YEAR ENDED 31ST DECEMBER 2023
| Notes TURNOVER Cost of sales GROSS PROFIT Administrative expenses OPERATING PROFIT 4 Interest receivable and similar income PROFIT BEFORE TAXATION Tax on profit PROFIT FOR THE FINANCIAL YEAR |
2023 £ 95,842 75,456 20,386 12,284 8,102 48 8,150 - 8,150 |
2022 £ 85,525 46,834 |
|---|---|---|
| 38,691 5,699 |
||
| 32,992 7 |
||
| 32,999 - |
||
| 32,999 |
The notes form part of these financial statements
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MALPAS VINTAGE MACHINERY ASSOCIATION LTD (REGISTERED NUMBER: 01687888)
BALANCE SHEET
31ST DECEMBER 2023
| Notes FIXED ASSETS Tangible assets 5 CURRENT ASSETS Cash at bank and in hand CREDITORS Amounts falling due within one year 6 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES RESERVES Retained earnings |
2023 £ 77,829 17,965 |
£ 1,845 59,864 61,709 61,709 61,709 |
2022 £ 70,446 17,720 |
£ 833 52,726 |
|---|---|---|---|---|
| 53,559 | ||||
| 53,559 | ||||
| 53,559 |
The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 in accordance with Section 476 of the Companies Act 2006.
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
-
(b) 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.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Board of Directors and authorised for issue on 8th May 2024 and were signed on its behalf by:
T J Littler - Director
The notes form part of these financial statements
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MALPAS VINTAGE MACHINERY ASSOCIATION LTD
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023
1. STATUTORY INFORMATION
Malpas Vintage Machinery Association Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2. ACCOUNTING POLICIES
Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
3. EMPLOYEES AND DIRECTORS
The average number of employees during the year was 10 (2022 - 11).
4. OPERATING PROFIT
The operating profit is stated after charging:
| 2023 | 2022 | ||
|---|---|---|---|
| £ | £ | ||
| Depreciation - owned assets | 460 | - |
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continued...
MALPAS VINTAGE MACHINERY ASSOCIATION LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2023
- TANGIBLE FIXED ASSETS
| COST At 1st January 2023 Additions At 31st December 2023 DEPRECIATION At 1st January 2023 Charge for year At 31st December 2023 NET BOOK VALUE At 31st December 2023 At 31st December 2022 6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR VAT Accrued expenses |
Plant and machinery etc £ 20,801 1,472 22,273 19,968 460 20,428 1,845 833 2023 2022 £ £ 17,105 17,105 860 615 17,965 17,720 |
|---|---|
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MALPAS VINTAGE MACHINERY ASSOCIATION LTD
TRADING AND PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31ST DECEMBER 2023
| Turnover Donations Rally Income Memberships Cost of sales Rally Expenses GROSS PROFIT Other income Deposit account interest Expenditure Insurance Telephone Advertising Sundry expenses Rally Organiser Accountancy Club Secretary Legal fees Depreciation Plant and machinery Computer equipment NET PROFIT |
2023 £ 525 94,957 360 2,116 77 1,372 3,389 - 1,770 2,860 240 366 94 |
£ 95,842 75,456 20,386 48 20,434 11,824 8,610 460 8,150 |
2022 £ 167 84,948 410 971 73 765 664 1,200 818 1,000 - 208 - |
£ 85,525 46,834 |
|---|---|---|---|---|
| 38,691 7 |
||||
| 38,698 5,491 |
||||
| 33,207 208 |
||||
| 32,999 |
This page does not form part of the statutory financial statements
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