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REGISTERED NUMBER: 14613862 (England and Wales)















REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

FOR

RAMS RUGBY FOOTBALL CLUB LIMITED

RAMS RUGBY FOOTBALL CLUB LIMITED (REGISTERED NUMBER: 14613862)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023




Page

Company Information 1

Report of the Directors 2

Report of the Independent Auditors 4

Profit and Loss Account 8

Balance Sheet 9

Notes to the Financial Statements 11


RAMS RUGBY FOOTBALL CLUB LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: I B Duncan
W R W Gornall-King
A T Lynch
G D Reynolds
J M Fleming
J Raspin
C Reynolds
S P Reynolds
M M Tewkesbury
H C Lynch
S N Sheppard





REGISTERED OFFICE: Old Bath Road
Sonning
Reading
Berkshire
RG4 6TQ





REGISTERED NUMBER: 14613862 (England and Wales)

RAMS RUGBY FOOTBALL CLUB LIMITED (REGISTERED NUMBER: 14613862)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 JUNE 2023

The directors present their report with the financial statements of the company for the year ended 30 June 2023.

INCORPORATION AND CONVERSION
The company was incorporated and commenced trading on 24 January 2023 following a conversion from a Society previously operated under the Co-operative and Community Benefit Societies Act 2014.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of the provision of rugby facilities and coaching for its members.

REVIEW OF BUSINESS
The club had a successful season with the first team achieving runner - up status in National League 1 in season 2022-2023. The club continued to be a thriving community club running senior teams and having over 500 junior members.

During the year the club completed the process of converting to a Limited Company. The main aim of this conversion was to strengthen the financial position of the club by converting member loans to equity share capital. The club continued to invest in capital projects such as installing additional floodlights which facilitates more training and playing facilities.

FUTURE DEVELOPMENTS
The club will continue to invest in new facilities including an indoor training area which will be completed in the 2023-2024 financial year. The club is in the process of setting up an associated Charity which will enable the club to increase the outreach activities the club is currently undertaking with schools and other organisations.

DIRECTORS
The directors who have held office during the period from 1 July 2022 to the date of this report are as follows:

I B Duncan - appointed 24 January 2023
W R W Gornall-King - appointed 24 January 2023
A T Lynch - appointed 24 January 2023
G D Reynolds - appointed 24 January 2023
J M Fleming - appointed 24 January 2023
J Raspin - appointed 24 January 2023
C Reynolds - appointed 24 January 2023
S P Reynolds - appointed 24 January 2023
M M Tewkesbury - appointed 24 January 2023
H C Lynch - appointed 20 June 2023

S N Sheppard was appointed as a director after 30 June 2023 but prior to the date of this report.


RAMS RUGBY FOOTBALL CLUB LIMITED (REGISTERED NUMBER: 14613862)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 JUNE 2023

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Vale & West Accountancy Services Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

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

ON BEHALF OF THE BOARD:





W R W Gornall-King - Director


17 November 2023

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
RAMS RUGBY FOOTBALL CLUB LIMITED

Opinion
We have audited the financial statements of Rams Rugby Football Club Limited (the 'company') for the year ended 30 June 2023 which comprise the Profit and Loss Account, Balance Sheet and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 30 June 2023 and of its loss for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
RAMS RUGBY FOOTBALL CLUB LIMITED


Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Report of the Directors has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Directors.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
RAMS RUGBY FOOTBALL CLUB LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The extent to which the audit was considered capable of detecting irregularities including fraud
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
- we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the sector;
- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment,and health and safety legislation;
- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:
- performed analytical procedures to identify any unusual or unexpected relationships;
- tested journal entries to identify unusual transactions;
- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and
- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
- agreeing financial statement disclosures to underlying supporting documentation;
- reading the minutes of meetings of those charged with governance; and
- enquiring of management as to actual and potential litigation and claims.


REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
RAMS RUGBY FOOTBALL CLUB LIMITED

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Jason Pyke FCA (Senior Statutory Auditor)
for and on behalf of Vale & West Accountancy Services Limited
Chartered Accountants
Statutory Auditors
Victoria House
26 Queen Victoria Street
Reading
Berkshire
RG1 1TG

20 November 2023

RAMS RUGBY FOOTBALL CLUB LIMITED (REGISTERED NUMBER: 14613862)

PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 30 JUNE 2023

30.6.23 30.6.22
£    £   

TURNOVER 915,359 802,525

Cost of sales 995,889 891,502
GROSS LOSS (80,530 ) (88,977 )

Administrative expenses 169,696 100,798
OPERATING LOSS (250,226 ) (189,775 )


Interest payable and similar expenses 2,927 6,324
LOSS BEFORE TAXATION (253,153 ) (196,099 )

Tax on loss - -
LOSS FOR THE FINANCIAL YEAR (253,153 ) (196,099 )

RAMS RUGBY FOOTBALL CLUB LIMITED (REGISTERED NUMBER: 14613862)

BALANCE SHEET
30 JUNE 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 953,887 866,902

CURRENT ASSETS
Stocks 9,970 8,780
Debtors 5 15,773 12,605
Cash at bank 37,558 13,264
63,301 34,649
CREDITORS
Amounts falling due within one year 6 261,996 159,999
NET CURRENT LIABILITIES (198,695 ) (125,350 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

755,192

741,552

CREDITORS
Amounts falling due after more than one year 7 96,547 839,760
NET ASSETS/(LIABILITIES) 658,645 (98,208 )

CAPITAL AND RESERVES
Called up share capital 9 1,010,006 -
Retained earnings (351,361 ) (98,208 )
SHAREHOLDERS' FUNDS 658,645 (98,208 )

RAMS RUGBY FOOTBALL CLUB LIMITED (REGISTERED NUMBER: 14613862)

BALANCE SHEET - continued
30 JUNE 2023


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 19 November 2023 and were signed on its behalf by:




G D Reynolds - Director W R W Gornall-King - Director




J M Fleming - Director


RAMS RUGBY FOOTBALL CLUB LIMITED (REGISTERED NUMBER: 14613862)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1. STATUTORY INFORMATION

Rams Rugby Football Club Limited is a private company, limited by shares, registered in England and Wales. The registered office is Old Bath Road, Sonning, Reading, Berkshire, RG4 6TQ.

The principal activity for the period was the provision of rugby facilities and coaching for its members.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are presented in sterling, which is the functional currency of the company.

Conversion to a Company Limited by Shares
On 24 January 2023, the club converted from a Society under the Co-operative and Community Benefit Societies Act 2014 to a Company Limited by Shares. The club activities are continued by the Company and the financial statements for the period are accordingly prepared on a single economic entity basis. The comparative information for the previous period and transactions for the period up to the conversion date are therefore those of the former Society.

Going concern
At the time of approving the financial statements, the directors have reasonable expectation that the company has adequate resources to continue in operation for the foreseeable future as the shareholders have provided written confirmation to the directors that for a period of at least 12 months from the date of approval of these financial statements, they will continue to make available funds as needed by the company to ensure its liabilities are met as they fall due.

Revenue recognition
Revenue is measured at the fair value of 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 value added tax, returns, rebates, and discounts.

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

Revenue from membership subscriptions, sponsorship agreements and season tickets is recognised in the relevant period and where received in advance is deferred to the relevant future period.

Match-day income, match-day tickets, hospitality packages and other match-day income, is recognised when the relevant match takes place.

Trading income from bar, catering and shop sales are recognised at the point of sale.

Voluntary income such as fundraising and donations is recognised on receipt.

RAMS RUGBY FOOTBALL CLUB LIMITED (REGISTERED NUMBER: 14613862)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
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 recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Clubhouse improvements-50 years straight line
Clubhouse equipment-5 years straight line
Ground and exercise equipment-5 years straight line
Scrummage and gym equipment-5 years straight line

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.

Government and other grants
Government grants and other grants are recognised based on the accrual model and are measured at the fair value where there is reasonable assurance that the grant will be received. Amounts received are recognised over the period in which the related costs are recognised. This is shown within Other Operating Income.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial assets and liabilities
Financial assets and financial liabilities are recognised when the company becomes a party to the Trade and other debtors are initially recognised at transaction price and subsequently remeasured to amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within current liabilities.

Trade and other creditors are initially recognised at transaction price and subsequently remeasured to amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.


RAMS RUGBY FOOTBALL CLUB LIMITED (REGISTERED NUMBER: 14613862)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation represents the sum of tax currently payable and deferred tax.

The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted bu the end of the reporting period.

Operating leases
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the tease term, unless another systematic basis is representative of the time pattern of the lessee’s benefit from the use of the leased asset.

Leased assets
Assets obtained under finance leases are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Employee pension benefits
The obligation for contributions to defined contribution schemes are recognised as an expense as incurred. The assets of the scheme are held separately from those of the company in an independent administered fund.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 62 (2022 - 53 ) .

RAMS RUGBY FOOTBALL CLUB LIMITED (REGISTERED NUMBER: 14613862)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

4. TANGIBLE FIXED ASSETS
Ground
and Scrummage
Clubhouse Clubhouse exercise and gym
improvements equipment equipment equipment Totals
£    £    £    £    £   
COST
At 1 July 2022 707,511 127,272 433,660 26,291 1,294,734
Additions 46,235 54,535 104,077 - 204,847
At 30 June 2023 753,746 181,807 537,737 26,291 1,499,581
DEPRECIATION
At 1 July 2022 94,477 91,894 226,872 14,589 427,832
Charge for year 14,551 20,613 78,934 3,764 117,862
At 30 June 2023 109,028 112,507 305,806 18,353 545,694
NET BOOK VALUE
At 30 June 2023 644,718 69,300 231,931 7,938 953,887
At 30 June 2022 613,034 35,378 206,788 11,702 866,902

Fixed assets, included in the above, which are held under finance leases are as follows:

Plant and
machinery
etc
£   
COST
At 1 July 2022
and 30 June 2023 51,727
DEPRECIATION
At 1 July 2022 30,173
Charge for year 10,345
At 30 June 2023 40,518
NET BOOK VALUE
At 30 June 2023 11,209
At 30 June 2022 21,554

RAMS RUGBY FOOTBALL CLUB LIMITED (REGISTERED NUMBER: 14613862)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 5,877 3,489
Prepayments 9,896 9,116
15,773 12,605

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans and overdrafts 10,000 10,000
Other loans 16,668 21,052
Finance leases 15,728 14,423
Trade creditors 12,444 23,847
Social security and other taxes 12,918 2,122
Other creditors 1,384 1,384
Accruals and deferred income 192,854 87,171
261,996 159,999

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.23 30.6.22
£    £   
Bank loans due 2 to 5 years 19,167 29,167
Other loans due 2 to 5 years 76,308 793,592
Finance leases 1,072 17,001
96,547 839,760

8. SECURED DEBTS

The finance leases are secured on the relevant fixed assets.

Other loans of £66,655 (2022 - £83,323) are secured by way of the personal guarantee of directors.

RAMS RUGBY FOOTBALL CLUB LIMITED (REGISTERED NUMBER: 14613862)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.23 30.6.22
value: £    £   
1,010,006 Ordinary £1 1,010,006 -

1,010,006 Ordinary shares of £1 each were allotted and fully paid for cash at par during the year.

10. OTHER FINANCIAL COMMITMENTS

At 31 December 2022, the company had total commitments under non-cancellable operating leases over the remaining life of the leases, as follows:
30.6.2330.6.22
££
Within one year15,87517,500
Between one and five years36,00046,842
More than five years324,000370,110
375,875434,452

11. RELATED PARTY DISCLOSURES

Sponsorship revenue of £250,000 (2022 - £189,500) was received from an unconnected company in which a director has an interest.

Donations of £75,295 (2022 - £31,751) in total was received from the directors.

Two directors subscribed to 1,010,000 Ordinary £1 shares in consideration for a redemption of loans advanced to the former Society.