Registered number: 10209218
RUSHDEN & HIGHAM RUGBY UNION FOOTBALL CLUB LTD
(A Company Limited by Guarantee)
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE PERIOD ENDED 31 MARCH 2023
|
|
|
|
RUSHDEN & HIGHAM RUGBY UNION FOOTBALL CLUB LTD
(A Company Limited by Guarantee)
|
CONTENTS
|
|
|
|
Statement of Changes in Equity
|
|
Notes to the Financial Statements
|
|
|
|
|
|
RUSHDEN & HIGHAM RUGBY UNION FOOTBALL CLUB LTD
(A Company Limited by Guarantee)
REGISTERED NUMBER:10209218
|
BALANCE SHEET
AS AT 31 MARCH 2023
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Debtors: amounts falling due within one year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due within one year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
RUSHDEN & HIGHAM RUGBY UNION FOOTBALL CLUB LTD
(A Company Limited by Guarantee)
REGISTERED NUMBER:10209218
|
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023
The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
................................................
D B Griffiths
|
|
|
|
|
|
|
|
The notes on pages 4 to 8 form part of these financial statements.
|
|
|
|
RUSHDEN & HIGHAM RUGBY UNION FOOTBALL CLUB LTD
(A Company Limited by Guarantee)
|
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 MARCH 2023
|
|
|
|
|
|
|
|
|
|
|
|
Comprehensive income for the year
|
|
|
|
|
|
|
|
Depreciation of leasehold
|
|
|
|
Other comprehensive income for the year
|
|
|
|
Total comprehensive income for the year
|
|
|
|
Total transactions with owners
|
|
|
|
|
|
|
|
|
|
|
|
Comprehensive income for the period
|
|
|
|
|
|
|
|
|
|
|
|
Other comprehensive income for the period
|
|
|
|
Total comprehensive income for the period
|
|
|
|
Total transactions with owners
|
|
|
|
|
|
|
|
|
|
|
|
|
The notes on pages 4 to 8 form part of these financial statements.
|
|
|
|
|
RUSHDEN & HIGHAM RUGBY UNION FOOTBALL CLUB LTD
(A Company Limited by Guarantee)
|
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023
Rushden & Higham Rugby Union Football Club Ltd ("the Company") is a company limited by guarantee, domiciled and incorporated in the UK. The Company is registered at Century House, The Lakes, Northampton, NN4 7HD. The place of business is Manor Park, Bedford Road, Rushden, Northants, NN10 0SA.
The company has changed its year end from 31 May to 31 March 2023. This years financial statements are for the period of ten months.
2.Accounting policies
|
|
Basis of preparation of financial statements
|
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
|
|
Exemption from preparing consolidated financial statements
|
The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, Value Added Tax and other sales taxes. The following criteria must also be met before turnover is recognised:
Sale of goods
Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
∙the Company has transferred the significant risks and rewards of ownership to the buyer;
∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
∙the amount of turnover can be measured reliably;
∙it is probable that the Company will receive the consideration due under the transaction; and
∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Subscription and sponsorship income received in respect of future periods is recorded as income in advance within creditors and released as its due.
|
|
|
|
RUSHDEN & HIGHAM RUGBY UNION FOOTBALL CLUB LTD
(A Company Limited by Guarantee)
|
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023
2.Accounting policies (continued)
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
|
|
|
|
|
|
|
|
|
|
|
Long-term leasehold property
|
|
|
|
|
|
|
|
|
|
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Investments in subsidiaries are measured at cost less accumulated impairment.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
|
|
Cash and cash equivalents
|
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
|
|
|
|
RUSHDEN & HIGHAM RUGBY UNION FOOTBALL CLUB LTD
(A Company Limited by Guarantee)
|
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023
|
The average monthly number of employees, including directors, during the period was 3 (2022 - 3).
|
|
|
|
Long-term leasehold property
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Charge for the period on owned assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
RUSHDEN & HIGHAM RUGBY UNION FOOTBALL CLUB LTD
(A Company Limited by Guarantee)
|
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023
|
|
Investments in subsidiary companies
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Period ended 31 March 2023
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amounts owed by group undertakings
|
|
|
|
Prepayments and accrued income
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents
|
|
|
|
|
|
|
|
|
|
|
|
|
Period ended 31 March 2023
|
|
|
|
|
|
|
|
|
|
|
|
|
RUSHDEN & HIGHAM RUGBY UNION FOOTBALL CLUB LTD
(A Company Limited by Guarantee)
|
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023
|
Creditors: Amounts falling due within one year
|
|
|
|
|
|
|
|
|
|
|
|
|
Period ended 31 March 2023
|
|
|
|
|
|
|
|
|
All debtors and creditors are basic financial instruments and are held at amortised cost.
Other reserves
Includes income and expenditure relating to the the refurbishment of the property.
The Company is a private company limited by guarantee and consequently does not have share capital. Each of the members are liable to contribute an amount not exceeding £10 towards the assets of the Company in the event of liquidation.
There were no capital commitments at 31 May 2021 or at 31 May 2020.
During the year the year ended 31 May 2021 the Club received a Sport of England Grant from the RFU of £50,000. At 31 March 2023 the club had spent £25,612 of this, the remainder of the grant will be spent on the new floodlights that are planned to be installed during the next financial year.
The directors are the Company's controlling related party by virtue of their office.
|
|