REGISTERED NUMBER: |
The Professional Bowls Corporation Ltd |
Report of the Directors and |
Unaudited Financial Statements |
for the Period 1st December 2021 to 31st May 2023 |
REGISTERED NUMBER: |
The Professional Bowls Corporation Ltd |
Report of the Directors and |
Unaudited Financial Statements |
for the Period 1st December 2021 to 31st May 2023 |
The Professional Bowls Corporation Ltd (Registered number: 12297213) |
Contents of the Financial Statements |
for the period 1st December 2021 to 31st May 2023 |
Page |
Company Information | 1 |
Report of the Directors | 2 | to | 3 |
Chartered Accountants' Report | 4 |
Income Statement | 5 |
Balance Sheet | 6 |
Notes to the Financial Statements | 7 | to | 9 |
The Professional Bowls Corporation Ltd |
Company Information |
for the period 1st December 2021 to 31st May 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
BUSINESS ADDRESS: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
310 Wellingborough Road |
Northampton |
NN1 4EP |
The Professional Bowls Corporation Ltd (Registered number: 12297213) |
Report of the Directors |
for the period 1st December 2021 to 31st May 2023 |
The directors present their report with the financial statements of the company for the period 1st December 2021 to 31st May 2023. |
REVIEW OF BUSINESS |
The Company continues to invest and work to make BowlsFit® for the FUTURE by promoting Bowls, Bowlers and Bowls Clubs for all formats of Bowls. |
Whilst there was a partial uplift in Bowls Club membership after the significant Covid decline, our work suggests there has been a change on how Bowls Club Members "play Bowls". New Bowls Club members appear to view Bowls as one of many social activities which they undertake in small groups at their home club RATHER than as part of a team against other clubs, involving travel with a meal after. Whilst there are competitions and competitive leagues, they are becoming harder to fill as new bowlers come into the sport to play locally with friends. |
This change we see is reflected in others sports with "Park Run" being an example of how a sport can adapt by offering free high quality FREE events with a world class administration and support structure. Bowls has the advantage of an estimated £1 billion of assets within local communities which have multi-functional use e.g. multiple formats of bowls, fitness classes, COVID testing/ vaccination centres. |
As the sport of Bowls, is accessible to everyone, promotes both physical & mental wellbeing and currently has limited commercial involvement relative to the potential, the Directors continue to see value and commercial potential in Bowls. This was confirmed in 2023 as seen by the addition of Aviva as the sponsor of the Bowls England National Finals. |
So the company continues to invest in, is protected by registered trademarks and continues to take action to defend its Registered Trademarks.:- |
1. Professional Bowls Corporation® focused on modernising Bowls Administration both in terms of effectiveness and efficiency. |
2. Bowls is Bowls® since 1984 has simply been promoting all formats of Bowls equally as they are all equally important. |
3. Astro Bowls® promotes the idea of addressing the loss of traditional outdoor and indoor bowling greens by playing bowls on existing artificial sports surfaces (hockey pitches, football pitches, tennis courts, running tracks...... ) within local communities. |
4. 'Bowls Fit® ' a fitness brand developed with a fitness professional Katie Bulmer-Cooke and Apprentice candidate as a low impact fitness programme based on the movements and muscles used to play bowls. This program is accessible, like Bowls, to all ages and abilities and can be used individually or as part of group classes. |
5. 'World Series Bowls ®' given the significant commercial potential of running many different World Series for each format of bowls. |
Sadly our work continues to highlight allegations of bullying across all formats of Bowls and from our work, we believe the processes for raising Complaints and Grievances currently in place within Bowls may fall short of the standard required for public funding. This is an issue we will continue to highlight and campaign for change with those organisations responsible for Bowls Governance and Funding the sport of Bowls. |
DIRECTORS |
The directors shown below have held office during the whole of the period from 1st December 2021 to the date of this report. |
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 Professional Bowls Corporation Ltd (Registered number: 12297213) |
Report of the Directors |
for the period 1st December 2021 to 31st May 2023 |
STATEMENT OF DIRECTORS' RESPONSIBILITIES - continued |
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. |
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: |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
The Professional Bowls Corporation Ltd |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Professional Bowls Corporation Ltd for the period ended 31st May 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the Board of Directors of The Professional Bowls Corporation Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of The Professional Bowls Corporation Ltd and state those matters that we have agreed to state to the Board of Directors of The Professional Bowls Corporation Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Professional Bowls Corporation Ltd and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that The Professional Bowls Corporation Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of The Professional Bowls Corporation Ltd. You consider that The Professional Bowls Corporation Ltd is exempt from the statutory audit requirement for the period. |
We have not been instructed to carry out an audit or a review of the financial statements of The Professional Bowls Corporation Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
310 Wellingborough Road |
Northampton |
NN1 4EP |
The Professional Bowls Corporation Ltd (Registered number: 12297213) |
Income Statement |
for the period 1st December 2021 to 31st May 2023 |
Period |
1.12.21 |
to | Year ended |
31.5.23 | 30.11.21 |
Notes | £ | £ |
TURNOVER |
Cost of sales |
GROSS PROFIT |
Administrative expenses |
OPERATING LOSS | 5 | ( |
) | ( |
) |
Interest payable and similar expenses |
LOSS BEFORE TAXATION | ( |
) | ( |
) |
Tax on loss |
LOSS FOR THE FINANCIAL PERIOD | ( |
) | ( |
) |
The Professional Bowls Corporation Ltd (Registered number: 12297213) |
Balance Sheet |
31st May 2023 |
2023 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 6 |
Tangible assets | 7 |
CURRENT ASSETS |
Stocks |
Debtors | 8 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 9 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
10 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS |
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 were approved by the Board of Directors and authorised for issue on |
The Professional Bowls Corporation Ltd (Registered number: 12297213) |
Notes to the Financial Statements |
for the period 1st December 2021 to 31st May 2023 |
1. | STATUTORY INFORMATION |
The Professional Bowls Corporation Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
The principal activity of the company in the year under review was that of the promotion of bowling activities. |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Improvements to property | - |
Fixtures and fittings | - |
Website | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. |
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. |
The Professional Bowls Corporation Ltd (Registered number: 12297213) |
Notes to the Financial Statements - continued |
for the period 1st December 2021 to 31st May 2023 |
3. | ACCOUNTING POLICIES - continued |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was NIL (2021 - NIL). |
5. | OPERATING LOSS |
The operating loss is stated after charging: |
Period |
1.12.21 |
to | Year ended |
31.5.23 | 30.11.21 |
£ | £ |
Depreciation - owned assets |
6. | INTANGIBLE FIXED ASSETS |
Other | WSB | Bowls Fit |
Trademarks | Trademark | Trademark | Totals |
£ | £ | £ | £ |
COST |
At 1st December 2021 |
Additions |
At 31st May 2023 |
NET BOOK VALUE |
At 31st May 2023 |
At 30th November 2021 |
7. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | and |
property | fittings | Website | Totals |
£ | £ | £ | £ |
COST |
At 1st December 2021 |
Additions |
Disposals | ( |
) | ( |
) | ( |
) |
At 31st May 2023 |
DEPRECIATION |
Charge for period |
At 31st May 2023 |
NET BOOK VALUE |
At 31st May 2023 |
At 30th November 2021 |
The Director is of the opinion that the fixed assets do not need to be depreciated for the year ended 30th November 2021. |
The Professional Bowls Corporation Ltd (Registered number: 12297213) |
Notes to the Financial Statements - continued |
for the period 1st December 2021 to 31st May 2023 |
8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2021 |
£ | £ |
Other debtors |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2021 |
£ | £ |
Other creditors |
10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2021 |
£ | £ |
Loans due after one year |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2021 |
value: | £ | £ |
Ordinary shares | £1 | 50,000 | 50,000 |
12. | CONTINGENT LIABILITIES |
There were no contingent liabilities as at 31st May 2023 or 30th November 2021. |
13. | CAPITAL COMMITMENTS |
There were no capital commitments as at 31st May 2023 or 30th November 2021. |