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No description of principal activities is disclosed
2022-05-01
Sage Accounts Production 21.0 - FRS102_2021
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Company registration number:
12190883
ARFC Commercial Limited
Unaudited filleted financial statements
30 April 2023
ARFC Commercial Limited
Contents
Directors and other information
Accountant's report
Statement of financial position
Notes to the financial statements
ARFC Commercial Limited
Directors and other information
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Directors |
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Mr Robert Henry Read |
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Mr Thomas Brian Morgan |
(Retired 21 February 2023) |
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Mrs Gwendoline Ada Jenkins |
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Mr Huw Prys Williams |
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Mrs Nerys Ann Hywel |
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Mr David Raymond Evans |
(Appointed 21 February 2023) |
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Secretary |
Mr David Brian Isaac |
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Company number |
12190883 |
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Registered office |
Aberystwyth Rugby Club |
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Plas Crug |
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Aberystwyth |
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SY23 1HL |
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Accountant |
Davies Lewis Baker |
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31 Bridge Street |
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Aberystwyth |
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Ceredigion |
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SY23 1QB |
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ARFC Commercial Limited
Report to the board of directors on the preparation of the
unaudited statutory financial statements of ARFC Commercial Limited
Year ended 30 April 2023
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial statements of ARFC Commercial Limited for the year ended 30 April 2023 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given me.
As a practising member of the Association of Chartered Certified Accountants , I am subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com /gb/en/about-us/regulation/rulebook.html.
This report is made solely to the board of directors of ARFC Commercial Limited, as a body, in accordance with the terms of my engagement letter. My work has been undertaken solely to prepare for your approval the financial statements of ARFC Commercial Limited and state those matters that we have agreed to state to the board of directors of ARFC Commercial Limited as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global /Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than ARFC Commercial Limited and its board of directors as a body for my work or for this report.
It is your duty to ensure that ARFC Commercial Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of ARFC Commercial Limited. You consider that ARFC Commercial Limited is exempt from the statutory audit requirement for the year.
I have not been instructed to carry out an audit or a review of the financial statements of ARFC Commercial Limited. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.
Davies Lewis Baker
31 Bridge Street
Aberystwyth
Ceredigion
SY23 1QB
7 November 2023
ARFC Commercial Limited
Statement of financial position
30 April 2023
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2023 |
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2022 |
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Note |
£ |
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£ |
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£ |
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£ |
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Current assets |
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Stocks |
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4,065 |
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4,410 |
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Debtors |
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5 |
5 |
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1,645 |
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Cash at bank and in hand |
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20,994 |
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19,098 |
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_______ |
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_______ |
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25,064 |
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25,153 |
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Creditors: amounts falling due |
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within one year |
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6 |
(
15,672) |
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(
15,761) |
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_______ |
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_______ |
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Net current assets |
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9,392 |
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9,392 |
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_______ |
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_______ |
Total assets less current liabilities |
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9,392 |
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9,392 |
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_______ |
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_______ |
Net assets |
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9,392 |
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9,392 |
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_______ |
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_______ |
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Capital and reserves |
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Called up share capital |
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1 |
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1 |
Profit and loss account |
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9,391 |
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9,391 |
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_______ |
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_______ |
Shareholders funds |
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9,392 |
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9,392 |
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_______ |
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_______ |
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For the year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
07 November 2023
, and are signed on behalf of the board by:
Mrs Gwendoline Ada Jenkins
Mrs Nerys Ann Hywel
Director
Director
Company registration number:
12190883
ARFC Commercial Limited
Notes to the financial statements
Year ended 30 April 2023
1.
General information
The company is a private company limited by shares, registered in Wales. The address of the registered office is Aberystwyth Rugby Club, Plas Crug, Aberystwyth, SY23 1HL.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the exemption from preparing consolidated financial statements contained in Section 400 of the Companies Act 2006 on the basis that it is a subsidiary undertaking and its immediate parent undertaking is established under the law of any part of the United Kingdom.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the [EntityType] will comply with the conditions attaching to them and the grants will be received.Government grants are recognised using the accrual model and the performance model.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
3
(2022:
3
).
5.
Debtors
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2023 |
2022 |
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£ |
£ |
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Trade debtors |
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1,643 |
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Other debtors |
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5 |
2 |
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_______ |
_______ |
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5 |
1,645 |
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_______ |
_______ |
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6.
Creditors: amounts falling due within one year
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2023 |
2022 |
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£ |
£ |
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Trade creditors |
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- |
496 |
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Corporation tax |
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- |
763 |
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Social security and other taxes |
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3,281 |
5,952 |
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Other creditors |
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12,391 |
8,550 |
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_______ |
_______ |
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15,672 |
15,761 |
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_______ |
_______ |
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7.
Related party transactions
During the year the company entered into the following transactions with related parties:
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Transaction value |
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Balance owed by/(owed to) |
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2023 |
2022 |
2023 |
2022 |
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£ |
£ |
£ |
£ |
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Aberystwyth Rugby Football Club (2019) Limited |
- |
- |
4 |
1 |
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Donations paid
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11,578
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8,816
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- |
- |
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_______ |
_______ |
_______ |
_______ |
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8.
Controlling party
The company is wholly owned and controlled by its only shareholder Aberystwyth Rugby Football Club (2019) Limited.