Registered number
06834218
MURTC Ltd
Unaudited Filleted Accounts
31 March 2023
MURTC Ltd
Registered number: 06834218
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 3,593 5,971
Current assets
Stocks 525 931
Debtors 4 6,205 6,921
Cash at bank and in hand 69,465 72,794
76,195 80,646
Creditors: amounts falling due within one year 5 (21,290) (28,276)
Net current assets 54,905 52,370
Net assets 58,498 58,341
Capital and reserves
Profit and loss account 58,498 58,341
Shareholders' funds 58,498 58,341
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
P Rivlin
Director
Approved by the board on 10 November 2023
MURTC Ltd
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover comprises membership, subscriptions, court fees, lessons and income from events.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Fixtures and fittings straight line to end of current licence to occupy
Improvements straight line to end of current licence to occupy
Stocks
Stocks are valued at lower of the cost and net realiseable value after making allowances for obsolete and slow moving stocks.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Office equipment Improvements & fixtures Total
£ £
Cost
At April 1 2022 17,963 34,537 52,500
Additions - - -
Disposal - - -
At 31 March 2023 17,963 34,537 52,500
Depreciation
At 1 April 2022 12,822 33,707 46,529
Charge for the year 1,548 830 2,378
On disposal - - -
At 31 March 2023 14,370 34,537 48,907
Net book value
At 31 March 2023 3,593 - 3,593
At 31 March 2022 5,141 830 5,971
4 Debtors 2023 2022
£ £
Trade debtors 1,308 636
Prepayments 531 988
Other debtors 4,366 5,297
6,205 6,921
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 69 69
Other creditors 21,221 28,207
21,290 28,276
6 Other information
MURTC Ltd is a private company limited by shares and incorporated in England. Its registered office is:
The Burroughs
Hendon
London
NW4 4BT
7 Funding of Real Tennis Student interns
The Club engaged one University student as an intern for the academic year 2022/2023 at a cost of £3,338 (2021/2022 - £5,068), paid out of its own funds up to 31 March 2023. For the academic year 2023/2024 the Club will have two student interns.
8 MURTC Juniors Programme
The Club continues to try and develop Real Tennis in schools for young people.
9 MURTC Crowdfunding
MURTC undertook a crowdfunding campaign to raise funds to support student tennis. The crowdfunding initiative raised £1,051.
10 Middlesex University Students - Funding Student Real Tennis and Grants
(i) The cost of unfunded student Real Tennis paid to the professionals by the Club during the year 31 March 2023 was £14,965 (2021/2022 - £20,778) in addition to the student costs and lessons funded by the University. During the year to 31 March 2023 the Club received direct grant funding of £600 from The Tennis and Rackets Association and £800 from the Dedanists Foundation.
(ii) In addition, the Club continued to surcharge the playing members’ court fees to assist in the funding of student Real Tennis. In the period to 31 March 2023 this raised £3,206 (2021/2022 - £2,218)
(iii) The Club received £293 funding by HMRS JRS Grant during COVID 19 lockdown in the year to 31 March 2022 (2021 - £9,594).
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