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Registration number: 09017632

Gosford All Blacks RFC

(A company limited by guarantee)

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

 

Gosford All Blacks RFC

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Profit and Loss Account

4

Balance Sheet

5

Statement of Changes in Equity

6

Notes to the Unaudited Financial Statements

7 to 9

 

Gosford All Blacks RFC

Company Information

Directors

Mr R V Benito

Mr R W Eynon

Mr M R Gardner

Miss R L Hill

Mr D J Hipkiss

Mr P O S T Peirsegaele

Mr M Wittet

Ms S Blizzard

Mr D Rea

Mr J P Hartley

Mr S Durley

Registered office

Stratfield Brake Sports Ground
Frieze Way
Kidlington
Oxfordshire
OX5 1UP

Accountants

Wenn Townsend
Chartered Accountants
30 St Giles'
Oxford
OX1 3LE

 

Gosford All Blacks RFC

Directors' Report for the Year Ended 31 March 2023

The directors present their report and the financial statements for the year ended 31 March 2023.

Directors of the company

The directors who held office during the year were as follows:

Mr R V Benito

Mr R W Eynon

Mr M R Gardner

Miss R L Hill

Mr D J Hipkiss

Mr P O S T Peirsegaele

Mr M Wittet

Ms S Blizzard

Mr T M Ellis (resigned 13 June 2023)

Mr A Karim (resigned 13 December 2022)

Mr D Rea (appointed 13 December 2022)

Mr J P Hartley (appointed 13 December 2022)

The following director was appointed after the year end:

Mr S Durley (appointed 13 June 2023)

Principal activity

The principal activity of the company is that of a sports club

The club has enjoyed a full season after two years of disruption due to COVID. Two new teams were added during the year, a Women’s team and an Under 16s Boys Team.

The club achieved a small surplus of £550 for the year (2022 - surplus of £1,498). This reduction is primarily due to the loss of one of the club’s long term sponsors. Additional fundraising efforts have mitigated this somewhat and action is underway to seek a replacement sponsor for the coming season.

Cash at bank and in hand increased to £49,980 at 31 March 2023 (2022 - £47,873).


 

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the Board on 19 July 2023 and signed on its behalf by:

.........................................
Mr M Wittet
Director

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Gosford All Blacks RFC
for the Year Ended 31 March 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Gosford All Blacks RFC for the year ended 31 March 2023 as set out on pages 4 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Gosford All Blacks RFC, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Gosford All Blacks RFC and state those matters that we have agreed to state to the Board of Directors of Gosford All Blacks RFC, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Gosford All Blacks RFC and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Gosford All Blacks RFC has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Gosford All Blacks RFC. You consider that Gosford All Blacks RFC is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Gosford All Blacks RFC. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Wenn Townsend
Chartered Accountants
30 St Giles'
Oxford
OX1 3LE

19 July 2023

 

Gosford All Blacks RFC

Profit and Loss Account for the Year Ended 31 March 2023

Note

2023
£

2022
£

Turnover

 

129,337

103,821

Cost of sales

 

(69,520)

(54,671)

Gross surplus

 

59,817

49,150

Administrative expenses

 

(61,288)

(49,675)

Other operating income

 

1,980

2,020

Operating surplus

 

509

1,495

Other interest receivable and similar income

 

43

3

Interest payable and similar expenses

 

(2)

-

Surplus before tax

4

550

1,498

Surplus for the financial year

 

550

1,498

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Gosford All Blacks RFC

(Registration number: 09017632)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

2,060

4,395

Current assets

 

Stocks

6

1,000

1,000

Debtors

7

4,375

4,100

Cash at bank and in hand

 

49,980

47,873

 

55,355

52,973

Creditors: Amounts falling due within one year

8

(19,220)

(19,723)

Net current assets

 

36,135

33,250

Net assets

 

38,195

37,645

Reserves

 

Retained earnings

38,195

37,645

Surplus

 

38,195

37,645

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 19 July 2023 and signed on its behalf by:
 

.........................................
Mr M Wittet
Director

 

Gosford All Blacks RFC

Statement of Changes in Equity for the Year Ended 31 March 2023

Profit and loss account
£

Total
£

At 1 April 2022

37,645

37,645

Surplus for the year

550

550

At 31 March 2023

38,195

38,195

Profit and loss account
£

Total
£

At 1 April 2021

36,147

36,147

Surplus for the year

1,498

1,498

Total comprehensive income

1,498

1,498

At 31 March 2022

37,645

37,645

 

Gosford All Blacks RFC

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

1

General information

The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

The address of its registered office is:
Stratfield Brake Sports Ground
Frieze Way
Kidlington
Oxfordshire
OX5 1UP
United Kingdom

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Gosford All Blacks RFC

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

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Equipment

33% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price.

Grants and other income received for specified purposes which have not been spent, are treated as deferred revenue.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2022 - 0).

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

2,335

2,633

 

Gosford All Blacks RFC

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

5

Tangible assets

Equipment
£

Total
£

Cost or valuation

At 1 April 2022

9,732

9,732

At 31 March 2023

9,732

9,732

Depreciation

At 1 April 2022

5,337

5,337

Charge for the year

2,335

2,335

At 31 March 2023

7,672

7,672

Carrying amount

At 31 March 2023

2,060

2,060

At 31 March 2022

4,395

4,395

6

Stocks

2023
£

2022
£

Other inventories

1,000

1,000

7

Debtors

2023
£

2022
£

Trade debtors

-

-

Prepayments

2,400

4,100

Accrued income

1,975

-

4,375

4,100

8

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

6,030

-

Accruals and deferred income

12,959

19,723

Other creditors

231

-

19,220

19,723