Company No:
Contents
Note | 2022 | 2021 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 3 |
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Investments | 4 |
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522,976 | 527,927 | |||
Current assets | ||||
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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261,022 | 89,439 | |||
Creditors | ||||
Amounts falling due within one year | 6 | (
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Net current assets | 234,658 | 79,749 | ||
Total assets less current liabilities | 757,634 | 607,676 | ||
Creditors | ||||
Amounts falling due after more than one year | 7 | (
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Net assets |
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Reserves | ||||
Profit and loss account |
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Total reserves |
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Directors' responsibilities:
The financial statements of Truro Rugby Football Club Limited (registered number:
Mr C A Price
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Truro Rugby Football Club Limited (the Company) is a private company, limited by guarantee, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Truro Rugby Football Club, St Clements Hill, Truro, Cornwall, TR1 1NY, United Kingdom. The company's registered number is 09449233.
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 items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.
The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
[Input type of fixed asset and rate of depreciation]
Land and buildings |
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Fixtures and fittings |
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Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.
2022 | 2021 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Land and buildings | Fixtures and fittings | Total | |||
£ | £ | £ | |||
Cost | |||||
At 01 May 2021 |
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Additions |
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At 30 April 2022 |
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Accumulated depreciation | |||||
At 01 May 2021 |
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Charge for the financial year |
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At 30 April 2022 |
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Net book value | |||||
At 30 April 2022 |
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At 30 April 2021 |
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Investments in subsidiaries
2022 | |
£ | |
Cost | |
At 01 May 2021 |
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At 30 April 2022 |
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Carrying value at 30 April 2022 |
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Carrying value at 30 April 2021 |
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2022 | 2021 | ||
£ | £ | ||
Trade debtors |
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Amounts owed by own subsidiaries |
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Prepayments |
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2022 | 2021 | ||
£ | £ | ||
Bank loans |
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Trade creditors |
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Other creditors |
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Accruals |
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Other taxation and social security |
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Obligations under finance leases and hire purchase contracts |
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2022 | 2021 | ||
£ | £ | ||
Bank loans |
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Obligations under finance leases and hire purchase contracts |
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Other creditors |
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116,666 | 19,649 |
Amounts repayable after more than 5 years are included in creditors falling due over one year:
2022 | 2021 | ||
£ | £ | ||
Bank loans (repayable by instalments) |
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Other creditors (repayable by instalments) |
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69,793 | 0 |
The members of the Truro Rugby Football Club Limited have undertaken to contribute a sum not exceeding £1 each to meet the liabilities of the Company if it should be wound up.