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REGISTERED NUMBER: 04201975 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Greshams Sports & Social Club Limited

Greshams Sports & Social Club Limited (Registered number: 04201975)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Greshams Sports & Social Club Limited

Company Information
for the Year Ended 31 March 2023







DIRECTOR: M Calver





SECRETARY: B K Turner





REGISTERED OFFICE: 312 Tuddenham Road
Ipswich
Suffolk
IP4 3QJ





REGISTERED NUMBER: 04201975 (England and Wales)





ACCOUNTANTS: Suffolk Tax Accountants Group
9 Byford Court
Crockatt Road
Hadleigh
Suffolk
IP7 6RD

Greshams Sports & Social Club Limited (Registered number: 04201975)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 87,909 87,909

CURRENT ASSETS
Stocks 2,251 2,251
Debtors 5 88,307 88,307
Cash at bank and in hand 5,382 5,382
95,940 95,940
CREDITORS
Amounts falling due within one year 6 374,109 374,109
NET CURRENT LIABILITIES (278,169 ) (278,169 )
TOTAL ASSETS LESS CURRENT LIABILITIES (190,260 ) (190,260 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (190,262 ) (190,262 )
SHAREHOLDERS' FUNDS (190,260 ) (190,260 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 13 October 2023 and were signed by:





M Calver - Director


Greshams Sports & Social Club Limited (Registered number: 04201975)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Greshams Sports & Social Club Limited 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.

The accounts have been prepared on a going concern basis despite a deficit in net assets. The directors believe that the company will be able to continue trading and to meet its current liabilities as they fall due for a period of at least 12 months following the approval of the accounts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost, 20% on cost and in accordance with the property

In 2002 the company received £20,000 from AXA Insurance Plc in satisfaction of payments towards improvements made to the club by AXA Sports and Social Club (Ipswich) Limited. This amount has been included in other creditors and is being released to the profit and loss account over a 20 year period in equal annual instalments.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 NIL (2022 - NIL).

Greshams Sports & Social Club Limited (Registered number: 04201975)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022
and 31 March 2023 292,612
DEPRECIATION
At 1 April 2022
and 31 March 2023 204,703
NET BOOK VALUE
At 31 March 2023 87,909
At 31 March 2022 87,909

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 22,837 22,837
Other debtors 65,470 65,470
88,307 88,307

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 9,988 9,988
Hire purchase contracts (3,360 ) (3,360 )
Trade creditors 136,083 136,083
Taxation and social security 34,866 34,866
Other creditors 196,532 196,532
374,109 374,109

7. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Bank overdrafts 9,988 9,988

The Natwest bank overdraft is secured by a fixed and floating charge over the undertaking and all property and assets present and future, along with a personal guarantee from the director Mr M Calver.