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REGISTERED NUMBER: 01073048 (England and Wales)

















Unaudited Financial Statements

For The Year Ended 31 January 2024

for

Tye Green Indoor Bowls Club Limited

Tye Green Indoor Bowls Club Limited (Registered number: 01073048)

Contents of the Financial Statements
For The Year Ended 31 January 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Tye Green Indoor Bowls Club Limited

Company Information
For The Year Ended 31 January 2024







DIRECTORS: Mrs S Duck
Mrs T S Shaw
Mr M J Brown
Mrs S M Bloomfield
Mr R D Spence
Mr R Hepworth
Mr S Hepworth
Mr J Anderson
Mr F A Mitson





REGISTERED OFFICE: Tilegate Road
Bush Fair
Harlow
Essex
CM18 6LU





REGISTERED NUMBER: 01073048 (England and Wales)





ACCOUNTANTS: Giess Wallis Crisp LLP
Chartered Accountants
10/12 Mulberry Green
Old Harlow
Essex
CM17 0ET

Tye Green Indoor Bowls Club Limited (Registered number: 01073048)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 222,180 243,552

CURRENT ASSETS
Stocks 6 6,413 6,947
Debtors 7 4,756 4,256
Cash at bank and in hand 121,173 161,158
132,342 172,361
CREDITORS
Amounts falling due within one year 8 48,539 58,031
NET CURRENT ASSETS 83,803 114,330
TOTAL ASSETS LESS CURRENT
LIABILITIES

305,983

357,882

RESERVES
Income and expenditure account 305,983 357,882
305,983 357,882

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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 surplus or deficit 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 March 2024 and were signed on its behalf by:




Mr M J Brown - Director



Mrs S M Bloomfield - Director


Tye Green Indoor Bowls Club Limited (Registered number: 01073048)

Notes to the Financial Statements
For The Year Ended 31 January 2024


1. STATUTORY INFORMATION

Tye Green Indoor Bowls 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.

The financial statements have been prepared under the historical cost convention.
The financial statements have been prepared as a single entity.
The principal accounting policies adopted are set out below.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

There are no estimates and assumptions which have had a significant risk of causing a material adjustment to the carrying amount of assets and liabilities

Turnover
Significant turnover streams are:

- Bar takings
- Membership fees
- Green fees


Bar takings turnover represents net sales of goods , excluding value added tax.
Bar takings are recognised at the point of sale, which is an over the counter transaction.

Membership fee turnover represents net sales of services, excluding value added tax.
Membership fees are recognised on a pro-rata basis over the period of membership, which runs annually from 1st September to 31st August.

Green fee turnover represents net sales of services, excluding value added tax.
Green fees are recognised on the date in which the service is provided, usually the same day as the transaction itself.

Tye Green Indoor Bowls Club Limited (Registered number: 01073048)

Notes to the Financial Statements - continued
For The Year Ended 31 January 2024


3. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Improvements to property - 10% on cost
Plant and machinery - 10% on cost
Fixtures and fittings - 10% on cost

Recognition and impairment of tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost net of depreciation and any impairment losses.

The entity reviews the carrying value's of its tangible fixed assets at each reporting date, to determine wether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the estimated recoverable value of the asset is used to determine the extent of the impairment loss (if any).

Inventory
Inventories are valued at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items.

Financial instruments
The company has elected to apply the provisions of Section 11:'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues ' of FRS 102 to all of its financial instruments

The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities such as trade debtors and creditors.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an 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.

Debtors
Short terms debtors are measured at transaction price, less any impairment.

Cash and cash equivalents
Cash is represented by current accounts, 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.

Creditors
Short term creditors are measured at the transaction price.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Tye Green Indoor Bowls Club Limited (Registered number: 01073048)

Notes to the Financial Statements - continued
For The Year Ended 31 January 2024


3. ACCOUNTING POLICIES - continued
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 9 ) .

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
Freehold to Plant and and
property property machinery fittings Totals
£    £    £    £    £   
COST
At 1 February 2023 335,082 362,207 126,603 259,388 1,083,280
Additions - - - 1,045 1,045
At 31 January 2024 335,082 362,207 126,603 260,433 1,084,325
DEPRECIATION
At 1 February 2023 152,910 335,174 120,839 230,805 839,728
Charge for year 5,881 6,758 1,922 7,856 22,417
At 31 January 2024 158,791 341,932 122,761 238,661 862,145
NET BOOK VALUE
At 31 January 2024 176,291 20,275 3,842 21,772 222,180
At 31 January 2023 182,172 27,033 5,764 28,583 243,552

Included in cost of land and buildings is freehold land of £ 41,020 (2023 - £ 41,020 ) which is not depreciated.

6. STOCKS
2024 2023
£    £   
Stocks 6,413 6,947

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 4,756 4,256

Tye Green Indoor Bowls Club Limited (Registered number: 01073048)

Notes to the Financial Statements - continued
For The Year Ended 31 January 2024


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 7,908 8,574
Taxation and social security 2,821 11,333
Other creditors 37,810 38,124
48,539 58,031

9. ULTIMATE CONTROLLING PARTY

The directors, who are appointed by the membership, are the ultimate controlling party.