REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2023 |
for |
Reedham Park Sports Club Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2023 |
for |
Reedham Park Sports Club Limited |
Reedham Park Sports Club Limited (Registered number: 03353663) |
Contents of the Financial Statements |
for the Year Ended 31 March 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Reedham Park Sports Club Limited |
Company Information |
for the Year Ended 31 March 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
Reedham Park Sports Club Limited (Registered number: 03353663) |
Balance Sheet |
31 March 2023 |
31.3.23 | 31.3.22 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
Investments | 6 |
CURRENT ASSETS |
Stocks | 7 |
Debtors | 8 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 9 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 10 | ( |
) | ( |
) |
NET ASSETS |
RESERVES |
Reedham Park Tennis Club Limited loan | 11 |
Sinking fund | 11 |
Income and expenditure account | 11 |
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 surplus or deficit 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. |
Reedham Park Sports Club Limited (Registered number: 03353663) |
Balance Sheet - continued |
31 March 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Reedham Park Sports Club Limited (Registered number: 03353663) |
Notes to the Financial Statements |
for the Year Ended 31 March 2023 |
1. | STATUTORY INFORMATION |
Reedham Park Sports Club Limited is a |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents club income derived from membership fees and associated sundry club income, excluding value added tax. |
Tangible fixed assets |
Leasehold land & buildings | - |
Tennis courts & floodlights | - |
Equipment | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Lottery grant |
In 1999 the company received a lottery grant of £249,734 from the English Sports Council. This amount is being amortised over the life of the long leasehold property, to which the grant was applied, at the rate of 2% per annum. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Reedham Park Sports Club Limited (Registered number: 03353663) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
5. | TANGIBLE FIXED ASSETS |
Leasehold | Tennis |
land & | courts & |
buildings | floodlights | Equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 April 2022 |
Additions |
At 31 March 2023 |
DEPRECIATION |
At 1 April 2022 |
Charge for year |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
6. | FIXED ASSET INVESTMENTS |
Investments (neither listed nor unlisted) were as follows: |
31.3.23 | 31.3.22 |
£ | £ |
NS&I savings certificates | 22,827 | 19,757 |
7. | STOCKS |
31.3.23 | 31.3.22 |
£ | £ |
Stocks |
8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.23 | 31.3.22 |
£ | £ |
VAT |
Prepayments |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.23 | 31.3.22 |
£ | £ |
VAT | - | 199 |
Accruals and deferred income |
Reedham Park Sports Club Limited (Registered number: 03353663) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.3.23 | 31.3.22 |
£ | £ |
Deferred lottery grant |
11. | RESERVES |
Reedham |
Park |
Income | Tennis |
and | Club |
expenditure | Limited | Sinking |
account | loan | fund | Totals |
£ | £ | £ | £ |
At 1 April 2022 | 290,658 |
Surplus for the year |
Transfer | (9,428 | ) | - | 9,428 | - |
At 31 March 2023 | 300,086 |
The loan from Reedham Park Tennis Club Limited, which was granted when Reedham Park Sports Club Limited was first established, will not, in normal circumstances, be repayable. The directors interpret this as meaning that the loan will only become repayable on the ultimate dissolution of Reedham Park Sports Club Limited. For this reason the directors consider that this is in the nature of a reserve and is therefore disclosed accordingly. |
12. | RELATED PARTY DISCLOSURES |
Reedham Park Tennis Club Limited owns the freehold title to the land on which the clubhouse and tennis courts stand and has leased this land to the Company at a peppercorn rent for 99 years from 1 April 1997. In addition Reedham Park Tennis Club Limited has provided the loan as detailed in note 13 above. |
The following are common directors of both companies:- |
P L Wallyn |
J J Fletcher |
Both directors retired from Reedham Park Sports Club Limited after the balance sheet date. |
Reedham Park Sports Club Limited (Registered number: 03353663) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
13. | COMPANY STATUS |
The company is limited by guarantee without having a share capital. Each member is liable to contribute £10 in the event that the company is dissolved with insufficient funds to meet all its liabilities. |