Acorah Software Products - Accounts Production 14.5.601 false true 31 August 2022 1 September 2021 false 1 September 2022 31 August 2023 31 August 2023 11963720 Mr G E Morris Mr R Williams Mr A Lewis Mr A Lewis iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11963720 2022-08-31 11963720 2023-08-31 11963720 2022-09-01 2023-08-31 11963720 frs-core:CurrentFinancialInstruments 2023-08-31 11963720 frs-core:Non-currentFinancialInstruments 2023-08-31 11963720 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-08-31 11963720 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 11963720 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-08-31 11963720 frs-core:PlantMachinery 2023-08-31 11963720 frs-core:PlantMachinery 2022-09-01 2023-08-31 11963720 frs-core:PlantMachinery 2022-08-31 11963720 frs-core:RevaluationReserve 2022-08-31 11963720 frs-core:RevaluationReserve 2023-08-31 11963720 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31 11963720 frs-bus:CompanyLimitedByGuarantee 2022-09-01 2023-08-31 11963720 frs-bus:FilletedAccounts 2022-09-01 2023-08-31 11963720 frs-bus:SmallEntities 2022-09-01 2023-08-31 11963720 frs-bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 11963720 frs-bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 11963720 frs-bus:Director1 2022-09-01 2023-08-31 11963720 frs-bus:Director2 2022-09-01 2023-08-31 11963720 frs-bus:Director3 2022-09-01 2023-08-31 11963720 frs-bus:CompanySecretary1 2022-09-01 2023-08-31 11963720 frs-countries:EnglandWales 2022-09-01 2023-08-31 11963720 2021-08-31 11963720 2022-08-31 11963720 2021-09-01 2022-08-31 11963720 frs-core:CurrentFinancialInstruments 2022-08-31 11963720 frs-core:Non-currentFinancialInstruments 2022-08-31 11963720 frs-core:RevaluationReserve 2022-08-31 11963720 frs-core:RetainedEarningsAccumulatedLosses 2022-08-31
Registered number: 11963720
Maesteg Harlequins (Tir Iarll) R.F.C. Limited
Unaudited Financial Statements
For The Year Ended 31 August 2023
Robert Cole & Co
Chartered Certified Accountants
Office 2 Llynfi Enterprise Centre
Heol Ty Gwyn Industrial Estate
Maesteg
CF34 0BQ
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—8
Page 1
Accountant's Report
Report to the directors on the preparation of the unaudited statutory accounts of Maesteg Harlequins (Tir Iarll) R.F.C. Limited for the year ended 31 August 2023
To assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of Maesteg Harlequins (Tir Iarll) R.F.C. Limited which comprise the Income and Expenditure Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the directors of Maesteg Harlequins (Tir Iarll) R.F.C. Limited , as a body, in accordance with the terms of our engagement letter dated 18 May 2023. Our work has been undertaken solely to prepare for your approval the accounts of Maesteg Harlequins (Tir Iarll) R.F.C. Limited and state those matters that we have agreed to state to the directors of Maesteg Harlequins (Tir Iarll) R.F.C. Limited , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Maesteg Harlequins (Tir Iarll) R.F.C. Limited and its directors as a body for our work or for this report.
It is your duty to ensure that Maesteg Harlequins (Tir Iarll) R.F.C. Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Maesteg Harlequins (Tir Iarll) R.F.C. Limited . You consider that Maesteg Harlequins (Tir Iarll) R.F.C. Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Maesteg Harlequins (Tir Iarll) R.F.C. Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
22 April 2024
Robert Cole & Co
Chartered Certified Accountants
Office 2 Llynfi Enterprise Centre
Heol Ty Gwyn Industrial Estate
Maesteg
CF34 0BQ
Page 1
Page 2
Balance Sheet
Registered number: 11963720
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 178,438 166,637
178,438 166,637
CURRENT ASSETS
Stocks 5,745 2,317
Debtors 5 2,523 -
Cash at bank and in hand 6,051 36,073
14,319 38,390
Creditors: Amounts Falling Due Within One Year 6 (14,313 ) (17,386 )
NET CURRENT ASSETS (LIABILITIES) 6 21,004
TOTAL ASSETS LESS CURRENT LIABILITIES 178,444 187,641
Creditors: Amounts Falling Due After More Than One Year 7 (22,780 ) (33,491 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (14,250 ) (14,250 )
NET ASSETS 141,414 139,900
RESERVES
Revaluation reserve 8 60,750 60,750
Income and Expenditure Account 80,664 79,150
MEMBERS' FUNDS 141,414 139,900
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Page 3
For the year ending 31 August 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 G E Morris
Director
22 April 2024
The notes on pages 4 to 8 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Maesteg Harlequins (Tir Iarll) R.F.C. Limited is a private company, limited by guarantee, incorporated in England & Wales, registered number 11963720 . The registered office is 25a Talbot Street, Maesteg, Bridgend, CF34 9BW.
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.
The financial statements are presented in Sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
2.2. Significant judgements and estimations
The significant accounting policies applied in the application of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
No significant judgements have had to be made by the directors in preparing these financial statements, other than:
Valuation of Freehold property:
As described in note 4 to the financial statements, freehold property is stated at fair value based on the valuation performed by an independent professional valuer, Ferriers Estate Agents, with experience in the location and category of the property valued.
2.3. 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. 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. 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.
2.4. 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:
Freehold Over 100 years & 33.3 years
Plant & Machinery Over 5 years
Freehold property is stated at fair value based on the valuation performed by an independent professional valuer.
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2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Financial Instruments
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2.7. 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.
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2.8. Government Grant
Government grants are recognised in the income and expenditure account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the income and expenditure account. Grants towards general activities of the entity over a specific period are recognised in the income and expenditure account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the income and expenditure account over the useful life of the asset concerned.
All grants in the income and expenditure account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
1 1
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Total
£ £ £
Cost or Valuation
As at 1 September 2022 152,739 19,281 172,020
Additions 15,000 3,293 18,293
As at 31 August 2023 167,739 22,574 190,313
Depreciation
As at 1 September 2022 1,527 3,856 5,383
Provided during the period 1,977 4,515 6,492
As at 31 August 2023 3,504 8,371 11,875
Net Book Value
As at 31 August 2023 164,235 14,203 178,438
As at 1 September 2022 151,212 15,425 166,637
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Cost or valuation as at 31 August 2023 represented by:
Land & Property
Freehold Plant & Machinery Total
£ £ £
At cost 92,739 22,574 115,313
At valuation 75,000 - 75,000
167,739 22,574 190,313
Freehold property was valued, on an open market basis, by Ferriers Estate Agents during the period-ended 31 August 2022.
The Directors believe that this is an accurate representation of the fair value of the freehold property held.
If the following tangible fixed assets had been accounted for under historical cost accounting rules, the amounts would be:
Land & Property
Freehold
£
Cost 77,739
5. Debtors
2023 2022
£ £
Due within one year
Other taxes and social security 2,523 -
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Bank loans and overdrafts 4,823 4,310
Other loans 3,747 4,289
Corporation tax 2,636 2,086
Other taxes and social security - 384
Other creditors (563 ) 2,147
Accruals and deferred income 1,500 2,000
Capital grants 2,170 2,170
14,313 17,386
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7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 12,594 17,930
Other loans 5,846 9,051
Capital grants 4,340 6,510
22,780 33,491
8. Reserves
Revaluation Reserve
£
As at 1 September 2022 60,750
As at 31 August 2023 60,750
Revaluation reserves relate to fair value adjustments for the revaluation of freehold property. These fair value adjustments are not taxable until any gain/loss is realised.
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.
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