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REGISTERED NUMBER: 03305164 (England and Wales)













SWANSEA RUGBY FOOTBALL CLUB LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023






SWANSEA RUGBY FOOTBALL CLUB LIMITED (REGISTERED NUMBER: 03305164)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SWANSEA RUGBY FOOTBALL CLUB LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: D J Blyth
C L Charvis
K Colclough
S N Hughes





REGISTERED OFFICE: St Helen's Ground
Bryn Road
Brynmill
Swansea
SA2 OAR





REGISTERED NUMBER: 03305164 (England and Wales)





ACCOUNTANTS: Carr, Jenkins & Hood
3 New Mill Court
Enterprise Park
Swansea
SA7 9FG

SWANSEA RUGBY FOOTBALL CLUB LIMITED (REGISTERED NUMBER: 03305164)

BALANCE SHEET
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 365,679 381,323
Investments 5 350,100 350,101
715,779 731,424

CURRENT ASSETS
Debtors 6 54,443 61,019
Cash at bank and in hand 10,403 62,066
64,846 123,085
CREDITORS
Amounts falling due within one year 7 139,506 106,850
NET CURRENT (LIABILITIES)/ASSETS (74,660 ) 16,235
TOTAL ASSETS LESS CURRENT LIABILITIES 641,119 747,659

CREDITORS
Amounts falling due after more than one
year

8

846,815

816,356
NET LIABILITIES (205,696 ) (68,697 )

CAPITAL AND RESERVES
Called up share capital 2,190,277 2,190,176
Retained earnings (2,395,973 ) (2,258,873 )
(205,696 ) (68,697 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

SWANSEA RUGBY FOOTBALL CLUB LIMITED (REGISTERED NUMBER: 03305164)

BALANCE SHEET - continued
30 JUNE 2023


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 8 March 2024 and were signed on its behalf by:





S N Hughes - Director


SWANSEA RUGBY FOOTBALL CLUB LIMITED (REGISTERED NUMBER: 03305164)

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


1. STATUTORY INFORMATION

Swansea Rugby Football Club Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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

Taxation
Taxation for the year 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 year 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 52 (2022 - 50 ) .

SWANSEA RUGBY FOOTBALL CLUB LIMITED (REGISTERED NUMBER: 03305164)

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


4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 July 2022 353,140 571,466 924,606
Additions - 6,284 6,284
At 30 June 2023 353,140 577,750 930,890
DEPRECIATION
At 1 July 2022 64,744 478,539 543,283
Charge for year 7,063 14,865 21,928
At 30 June 2023 71,807 493,404 565,211
NET BOOK VALUE
At 30 June 2023 281,333 84,346 365,679
At 30 June 2022 288,396 92,927 381,323

5. FIXED ASSET INVESTMENTS

2023 2022
£    £   
Other investments not loans 100 101
Other loans 350,000 350,000
350,100 350,101

Additional information is as follows:
Other
investments
£   
COST
At 1 July 2022
and 30 June 2023 100
NET BOOK VALUE
At 30 June 2023 100
At 30 June 2022 100

Investments (neither listed nor unlisted) were as follows:
2023 2022
£    £   
No description - 1

SWANSEA RUGBY FOOTBALL CLUB LIMITED (REGISTERED NUMBER: 03305164)

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


5. FIXED ASSET INVESTMENTS - continued
Other
Fixed
Asset
Investments
£   
At 1 July 2022
and 30 June 2023 350,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 50,711 53,401
Other debtors 3,732 7,618
54,443 61,019

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 7,350 4,587
Trade creditors 113,708 83,867
Taxation and social security 7,834 -
Other creditors 10,614 18,396
139,506 106,850

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 24,065
Other creditors 846,815 792,291
846,815 816,356

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 54,003 40,322

Other borrowings represent interest free loans with deemed repayments terms of 30 years, which have been discounted in accordance with FRS 102 to a present value of £789,482 (2022: £751,878). The original transactional values of the loans amount to £2,309,440 (2022: £2,309,440) of which £1,255,242 (2022: £1,255,242) is secured by a fixed and floating charge over the assets of the company.

SWANSEA RUGBY FOOTBALL CLUB LIMITED (REGISTERED NUMBER: 03305164)

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


9. RELATED PARTY DISCLOSURES

Amounts owed to related parties are shown at their original transactional value. Amounts owed to related parties include loans provided to the company interest free, with a deemed repayment term of 30 years. Therefore in accordance with FRS 102, outstanding loans have been discounted resulting in the original liability due to related parties being reduced to present value under Creditors amounts falling due after more than one year.