Company Registration No. 00255503 (England and Wales)
NEWCASTLE UPON TYNE EAST MASONIC TEMPLE COMPANY LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 9 JULY 2021
PAGES FOR FILING WITH REGISTRAR
NEWCASTLE UPON TYNE EAST MASONIC TEMPLE COMPANY LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
NEWCASTLE UPON TYNE EAST MASONIC TEMPLE COMPANY LIMITED
BALANCE SHEET
- 1 -
2021
2020
Notes
£
£
£
£
Fixed assets
Tangible assets
4
228,382
231,678
Current assets
Stocks
440
501
Debtors
5
7,690
12,092
Cash at bank and in hand
53,184
14,839
61,314
27,432
Creditors: amounts falling due within one year
6
(8,507)
(11,627)
Net current assets
52,807
15,805
Total assets less current liabilities
281,189
247,483
Creditors: amounts falling due after more than one year
7
(700)
(700)
Net assets
280,489
246,783
Capital and reserves
Called up share capital
57,585
57,585
General reserve
1,967
1,967
Capital reserve
53,283
53,283
Building reserve
44,907
24,907
Retained earnings
8
122,747
109,041
Total equity
280,489
246,783
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 9 July 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.
NEWCASTLE UPON TYNE EAST MASONIC TEMPLE COMPANY LIMITED
BALANCE SHEET (CONTINUED)
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 19 January 2022 and are signed on its behalf by:
Mr W Taylor
Director
Company Registration No. 00255503
NEWCASTLE UPON TYNE EAST MASONIC TEMPLE COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 9 JULY 2021
- 3 -
1
Accounting policies
Company information
Newcastle upon Tyne East Masonic Temple Company Limited is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
Masonic Hall, Corbridge Road, Newcastle upon Tyne, NE6 1HY.
1.1
Accounting convention
These financial statements have been prepared in accordance with 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, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents food and drink sales excluding value added tax and contributions from lodges in the way of rents received. Food and drink sales are recognised at the point of sale and lodge rents are recognised in the period to which they relate.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently 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:
Freehold land and buildings
Not provided
Fixtures and fittings
10% on reducing balance
In the opinion of the directors of the company, the estimated residual value of the freehold property, at the end of its useful economic life to the company, is greater than the net book value of the property shown above. In these circumstances it has not been appropriate to charge depreciation at this time on freehold property.
1.4
Stocks
Stocks are stated at the lower of cost and
net realisable value, after making due allowance for obsolete and slow moving items.
NEWCASTLE UPON TYNE EAST MASONIC TEMPLE COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 9 JULY 2021
- 4 -
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2021
2020
Number
Number
Total
3
3
4
Tangible fixed assets
Freehold land and buildings
Fixtures and fittings
Total
£
£
£
Cost
At 10 July 2020 and 9 July 2021
198,712
119,484
318,196
Depreciation and impairment
At 10 July 2020
86,518
86,518
Depreciation charged in the year
3,296
3,296
At 9 July 2021
89,814
89,814
Carrying amount
At 9 July 2021
198,712
29,670
228,382
At 9 July 2020
198,712
32,966
231,678
5
Debtors
2021
2020
Amounts falling due within one year:
£
£
Trade debtors
3,491
3,866
Other debtors
4,199
8,226
7,690
12,092
NEWCASTLE UPON TYNE EAST MASONIC TEMPLE COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 9 JULY 2021
5
Debtors
(Continued)
- 5 -
6
Creditors: amounts falling due within one year
2021
2020
£
£
Bank loans
3,018
Trade creditors
3,643
2,736
Taxation and social security
778
371
Other creditors
4,086
5,502
8,507
11,627
7
Creditors: amounts falling due after more than one year
2021
2020
£
£
Other creditors
700
700
8
Profit and loss reserves
2021
2020
£
£
At the beginning of the year
109,041
99,242
Profit for the year
33,706
9,799
Transfer to reserves
(20,000)
At the end of the year
122,747
109,041