Caseware UK (AP4) 2022.0.179 2022.0.179 2023-09-302023-09-302022-05-17falseNo description of principal activity5truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 14111812 2022-05-16 14111812 2022-05-17 2023-09-30 14111812 2021-05-17 2022-05-16 14111812 2023-09-30 14111812 c:Director1 2022-05-17 2023-09-30 14111812 d:Buildings 2022-05-17 2023-09-30 14111812 d:Buildings 2023-09-30 14111812 d:Buildings d:OwnedOrFreeholdAssets 2022-05-17 2023-09-30 14111812 d:FurnitureFittings 2022-05-17 2023-09-30 14111812 d:FurnitureFittings 2023-09-30 14111812 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-05-17 2023-09-30 14111812 d:OwnedOrFreeholdAssets 2022-05-17 2023-09-30 14111812 d:CurrentFinancialInstruments 2023-09-30 14111812 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 14111812 d:InvestmentPropertiesRevaluationReserve 2023-09-30 14111812 d:RetainedEarningsAccumulatedLosses 2023-09-30 14111812 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-09-30 14111812 d:AcceleratedTaxDepreciationDeferredTax 2023-09-30 14111812 d:TaxLossesCarry-forwardsDeferredTax 2023-09-30 14111812 d:OtherDeferredTax 2023-09-30 14111812 c:FRS102 2022-05-17 2023-09-30 14111812 c:AuditExempt-NoAccountantsReport 2022-05-17 2023-09-30 14111812 c:FullAccounts 2022-05-17 2023-09-30 14111812 c:CompanyLimitedByGuarantee 2022-05-17 2023-09-30 14111812 2 2022-05-17 2023-09-30 iso4217:GBP xbrli:pure

Registered number: 14111812










HORSMONDEN SPORTS CLUB LIMITED
(A company limited by guarantee)








UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 SEPTEMBER 2023



 
HORSMONDEN SPORTS CLUB LIMITED
 
(A company limited by guarantee)
REGISTERED NUMBER: 14111812

BALANCE SHEET
AS AT 30 SEPTEMBER 2023

2023
Note
£

Fixed assets
  

Tangible assets
 4 
292,129

Current assets
  

Stocks
  
622

Debtors: amounts falling due within one year
 5 
10,482

Cash at bank and in hand
  
21,611

  
32,715

Creditors: amounts falling due within one year
 7 
(44,262)

Net current (liabilities)/assets
  
 
 
(11,547)

Total assets less current liabilities
  
280,582

Provisions for liabilities
  

Deferred tax
  
(54,757)

  
 
 
(54,757)

Net assets
  
225,825


Capital and reserves
  

Investment property reserve
  
226,799

Profit and loss account
  
(974)

  
225,825


Page 1

 
HORSMONDEN SPORTS CLUB LIMITED
 
(A company limited by guarantee)
REGISTERED NUMBER: 14111812

BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 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: 




M R Dace
Director

Date: 9 February 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
HORSMONDEN SPORTS CLUB LIMITED

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2023

1.Accounting policies

 
1.1

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:

 
1.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue 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 revenue is recognised:

Sale of goods

Revenue 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 revenue 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.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
1.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

 
1.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
HORSMONDEN SPORTS CLUB LIMITED

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2023

1.Accounting policies (continued)

 
1.5

Current and deferred taxation

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
1.6

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 charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Land and buildings
-
not depreciated
Fixtures and fittings
-
25%
reducing balance

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.

Page 4

 
HORSMONDEN SPORTS CLUB LIMITED

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2023

1.Accounting policies (continued)

 
1.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
1.8

Debtors

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.

 
1.9

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.

 
1.10

Creditors

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.

 
1.11

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

Page 5

 
HORSMONDEN SPORTS CLUB LIMITED

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2023

1.Accounting policies (continued)

 
1.12

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


2.


General information

Horsmonden Sports Club Limited is a company limited by guarantee, incorporated in England and Wales. The company's principal place of business is Maidstone Road, Horsmonden, Kent TN12 8JJ.


3.


Employees

The average monthly number of employees, including directors, during the period was 5.

Page 6

 
HORSMONDEN SPORTS CLUB LIMITED

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2023

4.


Tangible fixed assets





Land and buildings
Fixtures and fittings
Total

£
£
£



Cost or valuation


Additions
7,453
4,838
12,291


Revaluations
279,999
-
279,999



At 30 September 2023

287,452
4,838
292,290



Depreciation


Charge for the period on owned assets
-
161
161



At 30 September 2023

-
161
161



Net book value



At 30 September 2023
287,452
4,677
292,129


5.


Debtors

2023
£


Other debtors
8,000

Prepayments and accrued income
2,482

10,482



6.


Cash and cash equivalents

2023
£

Cash at bank and in hand
21,611


Page 7

 
HORSMONDEN SPORTS CLUB LIMITED

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2023

7.


Creditors: Amounts falling due within one year

2023
£

Other creditors
33,945

Accruals and deferred income
10,317

44,262



8.


Financial instruments

2023
£

Financial assets


Financial assets measured at fair value through profit or loss
21,611




Financial assets measured at fair value through profit or loss comprise cash held.


9.


Deferred taxation



2023


£






Utilised in year
(54,757)



At end of year
(54,757)

The deferred taxation balance is made up as follows:

2023
£


Accelerated capital allowances
(2,335)

Tax losses carried forward
778

Gains from changes in fair value
(53,200)

(54,757)

Page 8

 
HORSMONDEN SPORTS CLUB LIMITED

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2023


10.


Company status

The company is a private company limited by guarantee 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.


Page 9