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REGISTERED NUMBER: 04952689 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

THE PARSONS GREEN SPORTS AND SOCIAL
CLUB LIMITED

THE PARSONS GREEN SPORTS AND SOCIAL
CLUB LIMITED (REGISTERED NUMBER: 04952689)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


THE PARSONS GREEN SPORTS AND SOCIAL
CLUB LIMITED

COMPANY INFORMATION
for the year ended 31 March 2023







DIRECTORS: Ms A Jefferson
Mr P Markham
Ms A Christodoulou
Mr L F R Ahl
Ms V M Bird
Mrs C A F Sullet-Arnaud
Mr M Graham





SECRETARY: Mr L F R Ahl





REGISTERED OFFICE: 31 Broomhouse Lane
Fulham
London
SW6 3DP





REGISTERED NUMBER: 04952689 (England and Wales)





ACCOUNTANTS: Thorne Lancaster Parker
4th Floor
Venture House
27-29 Glasshouse Street
London
W1B 5DF

THE PARSONS GREEN SPORTS AND SOCIAL
CLUB LIMITED (REGISTERED NUMBER: 04952689)

STATEMENT OF FINANCIAL POSITION
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 5 3,684,603 3,862,383

CURRENT ASSETS
Inventories 6 8,440 6,365
Debtors: amounts falling due within one year 7 31,692 23,694
Cash at bank and in hand 860,242 843,999
900,374 874,058
CREDITORS
Amounts falling due within one year 8 319,148 385,986
NET CURRENT ASSETS 581,226 488,072
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,265,829

4,350,455

RESERVES
Redevelopment reserve 9 4,392,969 4,556,929
Retained earnings 9 (127,140 ) (206,474 )
MEMBERS' FUNDS 4,265,829 4,350,455

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the Company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the Company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the Company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 September 2023 and were signed on its behalf by:




Mr P Markham - Director



Mr L F R Ahl - Director


THE PARSONS GREEN SPORTS AND SOCIAL
CLUB LIMITED (REGISTERED NUMBER: 04952689)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2023


1. STATUTORY INFORMATION

The Parsons Green Sports and Social Club Limited is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including explanations of future events that are believe to be reasonable under the circumstances.

Going concern
The directors of the company review recurring cash flows monthly and regularly look at income forecasts. As shown in the director's report, the directors look at the figures before depreciation and based on these projections plus the current year's trading performance the directors are confident that the club is a going concern.

Revenue recognition
Revenue is recognised at the fair value of the consideration received or receivable for the provision of services to external customers in the ordinary nature of the business. The fair value of the consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover
The principal sources of revenue are members' subscriptions, bar and catering sales. Subscriptions are recognised in the period to which they relate. Bar and catering revenues are recognised at the point of sale.

Other income
Other income is recognised on an accruals basis and is presented within other operating income. Some of this amount relates to a service charge recovery on shared property grounds.

Tangible fixed assets
Property, plant and equipment are initially measured at cost (or deemed cost) and are subsequently measured at cost or valuation, net of depreciation and accumulated impairment losses. Cost includes the original purchase price, costs directly attributable to bringing the asset to its working condition for its intended use, dismantling and restoration initially recorded at cost.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.


Land & buildings65 years
Sports grounds10 years
Fixtures & fittings5 - 10 years
Plant & machinery3 - 10 years

THE PARSONS GREEN SPORTS AND SOCIAL
CLUB LIMITED (REGISTERED NUMBER: 04952689)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023


3. ACCOUNTING POLICIES - continued

Inventories
Inventories are stated at the lower of cost and estimated selling price less costs to sell after making due allowance for obsolete and slow moving items. Inventories are recognised as an expense in the period in which the related revenue is generated.

Cost is determined on a first in first out basis. Cost includes the purchase price and other directly attributable costs to bring the inventory to its present location and condition.

At the end of each period, inventories are assessed for impairment. If an item of inventory is impaired, the identified inventory is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the income statement.

Taxation
Taxation expense for the period comprises current and deferred tax recognised in the reporting period. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case tax is also recognised in other comprehensive income or directly in equity respectively.

Current or deferred taxation assets and liabilities are not discounted.

Current tax
Current tax is the amount of income tax payable in respect of the taxable profit for the year or prior years. Tax is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the period end.

Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. It establishes provisions where appropriate on the basis of amounts expected to be paid to the tax authorities.

Deferred tax
Deferred tax is recognised in respect of all timing differences which are differences between taxable profits and total comprehensive income that arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent the directors consider that it probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase and finance lease agreements are capitalised in the balance sheet and depreciated over their useful lives. The interest element is charged to the profit and loss account over the period of the agreement.

Rentals paid under operating leases are charged to income on a straight-line basis over the term of the lease.

THE PARSONS GREEN SPORTS AND SOCIAL
CLUB LIMITED (REGISTERED NUMBER: 04952689)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023


3. ACCOUNTING POLICIES - continued

Financial instruments
The company has chosen to adopt Section 11 of FRS 102 in respect of financial instruments as it has only basic financial instruments.

Basic financial assets
Trade debtors, other debtors and bank balances, which are due within one year are initially recognised at transaction price and subsequently carried at amortised cost being the transaction price less any amounts settled and any impairment losses.

At the end of each reporting period basic financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

A financial asset is derecognised only when the contractual rights to cash flows expire or are settled, or substantially all the risks and rewards of ownership are transferred to another party, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities
Financial liabilities are classified as liabilities and equity instruments according to the substance of the contractual arrangements entered into an equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Trade creditors and other creditors are initially recognised at transaction price and subsequently carried at amortised cost, being transaction price less any amounts settled.

Basic financial liabilities are derecognised when the contractual obligation is discharged, cancelled or expired.

Cash and cash equivalents
Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 9 ) .

THE PARSONS GREEN SPORTS AND SOCIAL
CLUB LIMITED (REGISTERED NUMBER: 04952689)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023


5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Freehold Sports and Plant &
property Grounds fittings Machinery Totals
£    £    £    £    £   
COST
At 1 April 2022 2,910,676 466,180 374,093 566,027 4,316,976
Additions 4,233 680 25,724 1,086 31,723
Disposals - - - (4,290 ) (4,290 )
At 31 March 2023 2,914,909 466,860 399,817 562,823 4,344,409
DEPRECIATION
At 1 April 2022 108,158 112,506 90,516 143,413 454,593
Charge for year 44,845 46,686 57,686 60,286 209,503
Eliminated on disposal - - - (4,290 ) (4,290 )
At 31 March 2023 153,003 159,192 148,202 199,409 659,806
NET BOOK VALUE
At 31 March 2023 2,761,906 307,668 251,615 363,414 3,684,603
At 31 March 2022 2,802,518 353,674 283,577 422,614 3,862,383

6. INVENTORIES
2023 2022
£    £   
Stocks 8,440 6,365

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 10,995 -
Other debtors 4,537 3,883
Prepayments and accrued income 16,160 19,811
31,692 23,694

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 19,987 20,217
Corporation tax 445 -
Social security and other taxes 5,730 -
VAT 4,463 2,065
Other creditors 2,088 337
Deferred income 230,443 270,858
Accruals 55,992 92,509
319,148 385,986

Deferred income includes subscriptions received in advance of £230,443 (2022 - £233,935).

THE PARSONS GREEN SPORTS AND SOCIAL
CLUB LIMITED (REGISTERED NUMBER: 04952689)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023


9. RESERVES
Retained Redevelopment
earnings reserve Totals
£    £    £   

At 1 April 2022 (206,474 ) 4,556,929 4,350,455
Deficit for the year (84,626 ) - (84,626 )
Transfer of reserves 163,960 (163,960 ) -
At 31 March 2023 (127,140 ) 4,392,969 4,265,829

The redevelopment reserve represents the historic gains as a result of the development over a period of depleted trading activity dating back to 2010/11.

10. COMPANY STATUS

The company is limited by guarantee to the extent that each member has undertaken to contribute such amount as may be required (not exceeding £1) to the company's assets in the event of a winding up while he or she is a member, or within one year of ceasing to be a member in respect of liabilities incurred during membership.

The Articles of Association of the company prohibit the directors from distributing the profits, reserves or other income of the company to the members, as dividend, bonus or otherwise.