Company Registration No. 00269408 (England and Wales)
The Herts Bowling Club
Unaudited accounts
for the year ended 30 September 2023
The Herts Bowling Club
Unaudited accounts
Contents
The Herts Bowling Club
Company Information
for the year ended 30 September 2023
Directors
David Norman Airey
Roger Leonard Stuchfield
Frederick Clifford Lingwood
Anthony Thompson
Neil Roberts
Secretary
Anthony Thompson
Company Number
00269408 (England and Wales)
Registered Office
The Sun Sports Ground
Bellmount Wood Avenue
Watford
WD17 3BT
Accountants
abacus azure
85-87 Bayham Street
Camden
London
NW1 0AG
The Herts Bowling Club
Statement of financial position
as at 30 September 2023
Tangible assets
969,730
1,007,352
Cash at bank and in hand
175,133
195,333
Creditors: amounts falling due within one year
(37,905)
(49,905)
Net current assets
160,893
166,385
Total assets less current liabilities
1,130,623
1,173,737
Creditors: amounts falling due after more than one year
(7,500)
(15,000)
Net assets
1,123,123
1,158,737
Revaluation reserve
664,151
664,151
Profit and loss account
458,972
494,586
Members' funds
1,123,123
1,158,737
For the year ending 30 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 12 February 2024 and were signed on its behalf by
Roger Leonard Stuchfield
Director
Company Registration No. 00269408
The Herts Bowling Club
Notes to the Accounts
for the year ended 30 September 2023
The Herts Bowling Club is a private company, limited by guarantee, registered in England and Wales, registration number 00269408. The registered office is The Sun Sports Ground, Bellmount Wood Avenue , Watford, WD17 3BT.
2
Compliance with accounting standards
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Income and expenses are included in the financial statements as they become receivable or due.
Expenses include VAT where applicable as the company cannot reclaim it.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
over 50 years
Fixtures & fittings
10% Straight Line
Other tangible fixed assets
over 10 years
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in surplus or deficit, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
The Herts Bowling Club
Notes to the Accounts
for the year ended 30 September 2023
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.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is
measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
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 company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
The Herts Bowling Club
Notes to the Accounts
for the year ended 30 September 2023
4
Tangible fixed assets
Land & buildings
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 October 2022
1,030,481
105,809
1,136,290
At 30 September 2023
1,030,481
110,709
1,141,190
At 1 October 2022
36,368
92,570
128,938
Charge for the year
37,870
4,652
42,522
At 30 September 2023
74,238
97,222
171,460
At 30 September 2023
956,243
13,487
969,730
At 30 September 2022
994,113
13,239
1,007,352
Finished goods
16,997
17,909
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
Amounts falling due within one year
Accrued income and prepayments
6,422
2,869
The Herts Bowling Club
Notes to the Accounts
for the year ended 30 September 2023
7
Creditors: amounts falling due within one year
2023
2022
Trade creditors
24,715
35,319
Taxes and social security
(974)
(935)
Other creditors
13,449
14,201
8
Creditors: amounts falling due after more than one year
2023
2022
Other creditors
7,500
15,000
9
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.
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
11
Average number of employees
During the year the average number of employees was 2 (2022: 2).