REGISTERED NUMBER: |
AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
EAST GLOUCESTERSHIRE CLUB LIMITED |
REGISTERED NUMBER: |
AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
EAST GLOUCESTERSHIRE CLUB LIMITED |
EAST GLOUCESTERSHIRE CLUB LIMITED (REGISTERED NUMBER: 09794879) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
Page |
Company Information | 1 |
Abridged Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
EAST GLOUCESTERSHIRE CLUB LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITOR: |
6 Manor Park Business Centre |
Mackenzie Way |
Cheltenham |
Gloucestershire |
GL51 9TX |
EAST GLOUCESTERSHIRE CLUB LIMITED (REGISTERED NUMBER: 09794879) |
ABRIDGED STATEMENT OF FINANCIAL POSITION |
31 DECEMBER 2023 |
31.12.23 | 31.12.22 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Stocks |
Debtors |
Investments |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
( |
) |
( |
) |
NET ASSETS |
RESERVES |
Club development & maintenance |
fund | 8 |
Court renewal fund | 8 |
Junior squash fund | 8 |
Capital fund | 8 |
Income and expenditure account | 8 |
EAST GLOUCESTERSHIRE CLUB LIMITED (REGISTERED NUMBER: 09794879) |
ABRIDGED STATEMENT OF FINANCIAL POSITION - continued |
31 DECEMBER 2023 |
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 |
EAST GLOUCESTERSHIRE CLUB LIMITED (REGISTERED NUMBER: 09794879) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
1. | STATUTORY INFORMATION |
East Gloucestershire Club Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The financial statements contain information about East Gloucestershire Club Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Subscription and sponsorship income are recognised on a time-apportioned basis in the accounting period to which the subscription or sponsorship relates. Course fees, facilities rental income and other event income is recognised when the event takes place. Court booking income is recognised when the booking is made. Retail and catering income is recognised at the point of sale. |
Tangible fixed assets |
Tennis and Padel courts | - |
Clubhouse and grounds | - |
Equipment | - |
Freehold land is not depreciated. Only assets costing greater than £1,000 are capitalised, with smaller value items being expensed as they are incurred. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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. |
Value added tax |
As a non-profit making sports club, the company is governed by the partial exemption regulations as stipulated by HM Revenue and Customs. In adhering to these regulations the company is not in a position to recover all VAT suffered in respect of goods and services purchased. In line with latest HMRC guidelines, the amount of non-recoverable VAT is added to the cost of the individual headings of expenditure rather than shown on a separate line of expenditure. |
EAST GLOUCESTERSHIRE CLUB LIMITED (REGISTERED NUMBER: 09794879) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 January 2023 |
Additions |
Disposals | ( |
) |
At 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
Included in the cost of land and buildings is freehold land at a historic cost of £8,667 (2022: £8,667), which is not depreciated. |
5. | FIXED ASSET INVESTMENTS |
Information on investments other than loans is as follows: |
Totals |
£ |
COST |
At 1 January 2023 |
and 31 December 2023 | 1 |
NET BOOK VALUE |
At 31 December 2023 | 1 |
At 31 December 2022 | 1 |
6. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.12.23 | 31.12.22 |
£ | £ |
Other loans |
Other loans represents loan funding from the Lawn Tennis Association (LTA). This funding is secured by a fixed charge, the latest being created 2 March 2021, over the property at East Gloucestershire Club. The LTA loan is interest-free. |
EAST GLOUCESTERSHIRE CLUB LIMITED (REGISTERED NUMBER: 09794879) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
7. | PENSION COMMITMENTS |
The Club operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Club in independently administered funds. The pension cost charge represents contributions payable by the Club to the funds and amounted to £11,791 (2022: £11,173). Contributions payable to the fund at the balance sheet date were £1,933 (2022: £707). |
8. | RESERVES |
Income | Club |
and | development | Court |
expenditure | & maintenance | renewal |
account | fund | fund |
£ | £ | £ |
At 1 January 2023 |
Surplus for the year | - | - |
Capital expenditure | (109,340 | ) | - | - |
Transfers between funds | (34,827 | ) | 29,255 | 99,300 |
At 31 December 2023 |
Junior |
squash | Capital |
fund | fund | Totals |
£ | £ | £ |
At 1 January 2023 | 1,369,548 |
Surplus for the year | - | - |
Capital expenditure | - | 109,340 | - |
Transfers between funds | (331 | ) | (93,397 | ) | - |
At 31 December 2023 | 1,454,217 |
The club development and maintenance fund represents reserves allocated for new initiatives and significant maintenance and repair costs to the clubhouse and grounds. Every year 5% of membership subscriptions are added to this fund. |
The capital fund represents the net book value of the club’s fixed assets, net of our asset-secured LTA loan. |
The court renewal fund represents reserves put aside to finance the maintenance of the club’s tennis and padel courts. Amounts are provided annually to cover the ongoing costs of refurbishment, with reference to LTA guidelines. |
The junior squash fund represents donations made in respect of the club’s junior squash activities. |
9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditor was unqualified. |
for and on behalf of |
EAST GLOUCESTERSHIRE CLUB LIMITED (REGISTERED NUMBER: 09794879) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
10. | CAPITAL COMMITMENTS |
31.12.23 | 31.12.22 |
£ | £ |
Contracted but not provided for in the |
financial statements |
11. | RELATED PARTY DISCLOSURES |
Transactions with directors |
During the year the company reimbursed out-of-pocket expenses paid on its behalf to two directors totalling £266 (2022: one director totalling £98). |
East Glos Club Coaching Limited |
Wholly-owned subsidiary |
East Glos Club Coaching Limited paid its surplus of £158,840 (2022: £142,808) to this company as a distribution payment to a CASC-registered entity. |
No balance was due from / to East Glos Club Coaching Limited at 31 December 2023 or 2022. |
12. | COMPANY STATUS |
The company is limited by guarantee. The liability of each member is limited to £1, being the amount that each member undertakes to contribute to the assets of the company in the event of its being wound up whilst he or she is a member or within one year after he or she ceases to be a member. |