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STATEMENT OF CONSENT TO PREPARE ABRIDGED FINANCIAL STATEMENTS
All of the members of Knowle & Dorridge Cricket Club Limited have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 October 2023 in accordance with Section 444(2A) of the Companies Act 2006.
COMPANY REGISTRATION NUMBER: 09427329
KNOWLE & DORRIDGE CRICKET CLUB LIMITED
COMPANY LIMITED BY GUARANTEE
FILLETED UNAUDITED ABRIDGED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 October 2023
KNOWLE & DORRIDGE CRICKET CLUB LIMITED
COMPANY LIMITED BY GUARANTEE
ABRIDGED STATEMENT OF FINANCIAL POSITION
31 October 2023
2023
2022
Note
£
£
£
£
Fixed Assets
Tangible assets
6
73,524
79,411
Investments
7
240
240
------------
------------
73,764
79,651
Current Assets
Stocks
6,748
7,356
Debtors
11,501
5,195
Cash at bank and in hand
59,860
116,791
------------
------------
78,109
129,342
Creditors: amounts falling due within one year
49,363
52,069
------------
------------
Net Current Assets
28,746
77,273
------------
------------
Total Assets Less Current Liabilities
102,510
156,924
------------
------------
Net Assets
102,510
156,924
------------
------------
Reserves
Profit and loss account
102,510
156,924
------------
------------
Trustees Funds
102,510
156,924
------------
------------
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
KNOWLE & DORRIDGE CRICKET CLUB LIMITED
COMPANY LIMITED BY GUARANTEE
ABRIDGED STATEMENT OF FINANCIAL POSITION (continued)
31 October 2023
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
These abridged financial statements were approved by the board of directors and authorised for issue on 7 February 2024 , and are signed on behalf of the board by:
K S Chambers
I Maddocks
Director
Director
Company registration number: 09427329
KNOWLE & DORRIDGE CRICKET CLUB LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
YEAR ENDED 31 OCTOBER 2023
1. General Information
The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is Station Road, Dorridge, Solihull, B93 8ET, West Midlands.
2. Statement of Compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting Policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Income is recognised when received or receivable by the company and is derived from membership, advertising and sponsorship, bar sales and other income generated mainly from the members.
Income tax
The company has tax exempt status.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Pavilion, shed and nets
-
2-10% on straight line
Ground machinery and equipment
-
25% on reducing balance
Fixtures, fittings and bar equipment
-
7.5% on reducing balance
No depreciation is provided in the year of acquisition.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell.
Financial instruments
Financial liabilities and equity instruments are classified 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 entity after deducting all of its financial liabilities.
4. Company Limited by Guarantee
The company is limited by guarantee and has no share capital.
5. Employee Numbers
The average number of persons employed by the company during the year amounted to 7 (2022: 6 ).
6. Tangible Assets
£
Cost
At 1 November 2022 and 31 October 2023
123,841
------------
Depreciation
At 1 November 2022
44,430
Charge for the year
5,887
------------
At 31 October 2023
50,317
------------
Carrying amount
At 31 October 2023
73,524
------------
At 31 October 2022
79,411
------------
7. Investments
£
Cost
At 1 November 2022 and 31 October 2023
240
------------
Impairment
At 1 November 2022 and 31 October 2023
------------
Carrying amount
At 31 October 2023
240
------------
At 31 October 2022
240
------------
8. Related Party Transactions
The Trustees of Knowle & Dorridge Cricket Club retained monies from the sale of the investment property to fund the refurbishment of Station Road during 2017. Monies held in the Trustees bank account at 31 October 2023 amounted to £111,424 (2021 : £110,721).