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Registered number: 07880266
Alfreton Cricket Club Limited
Financial Statements
For The Year Ended 27 September 2023
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 07880266
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 178,113 197,523
178,113 197,523
CURRENT ASSETS
Debtors 5 3,058 3,081
Cash at bank and in hand 19,136 12,763
22,194 15,844
Creditors: Amounts Falling Due Within One Year 6 (37,788 ) (37,195 )
NET CURRENT ASSETS (LIABILITIES) (15,594 ) (21,351 )
TOTAL ASSETS LESS CURRENT LIABILITIES 162,519 176,172
Creditors: Amounts Falling Due After More Than One Year 7 (161,913 ) (173,747 )
NET ASSETS 606 2,425
Income and Expenditure Account 606 2,425
MEMBERS' FUNDS 606 2,425
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For the year ending 27 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income and Expenditure Account.
On behalf of the board
Mr T D Rooke
Director
23 April 2024
The notes on pages 3 to 4 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Alfreton Cricket Club Limited is a private company, limited by guarantee, incorporated in England & Wales, registered number 07880266 . The registered office is 7 LarkHill, Swanwick, Alfreton, Derbyshire, DE55 1DD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 3.33% Straight line
Plant & Machinery 25% Straight line
Fixtures & Fittings 10% Straight line
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable surplus for the year. Taxable surplus differs from surplus as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable surplus. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable surplus will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable surplus will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in surplus or deficit, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 3)
2 3
Page 3
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4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Fixtures & Fittings Total
£ £ £ £
Cost
As at 28 September 2022 239,659 19,118 76,341 335,118
As at 27 September 2023 239,659 19,118 76,341 335,118
Depreciation
As at 28 September 2022 67,354 5,890 64,351 137,595
Provided during the period 7,981 3,795 7,634 19,410
As at 27 September 2023 75,335 9,685 71,985 157,005
Net Book Value
As at 27 September 2023 164,324 9,433 4,356 178,113
As at 28 September 2022 172,305 13,228 11,990 197,523
5. Debtors
2023 2022
£ £
Due within one year
Other debtors 2,831 2,854
Corporation tax recoverable assets 227 227
3,058 3,081
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 7,959 -
Bank loans and overdrafts - 305
Other creditors 16,711 23,772
Deferred income - Grants under one year 13,118 13,118
37,788 37,195
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Deferred income - Grants over one year 161,913 173,747
161,913 173,747
8. Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
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