Company registration number 07237935 (England and Wales)
LEIGHTON BUZZARD RUGBY FOOTBALL CLUB LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
LEIGHTON BUZZARD RUGBY FOOTBALL CLUB LTD
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 8
LEIGHTON BUZZARD RUGBY FOOTBALL CLUB LTD
BALANCE SHEET
AS AT
30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
1,565,561
1,557,181
Current assets
Stocks
6
12,362
20,550
Debtors
7
43,016
5,514
Cash at bank and in hand
25,690
21,371
81,068
47,435
Creditors: amounts falling due within one year
8
(223,505)
(140,562)
Net current liabilities
(142,437)
(93,127)
Total assets less current liabilities
1,423,124
1,464,054
Creditors: amounts falling due after more than one year
9
(174,822)
(156,641)
Net assets
1,248,302
1,307,413
Reserves
Income and expenditure account
1,248,302
1,307,413
Members' funds
1,248,302
1,307,413
The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true
For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on
27 June 2024
27 June 2024
and are signed on its behalf by:
Mr Gordon Fletcher
Director
Company registration number 07237935 (England and Wales)
LEIGHTON BUZZARD RUGBY FOOTBALL CLUB LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2024
- 2 -
Income and expenditure
£
Balance at 1 May 2022
1,286,000
Year ended 30 April 2023:
Surplus and total comprehensive income
21,413
Balance at 30 April 2023
1,307,413
Year ended 30 April 2024:
Deficit and total comprehensive income
(59,111)
Balance at 30 April 2024
1,248,302
LEIGHTON BUZZARD RUGBY FOOTBALL CLUB LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 3 -
1
Accounting policies
Company information
Leighton Buzzard Rugby Football Club Ltd is a private company limited by guarantee incorporated in England and Wales. The registered office is Leighton Buzzard Rugby Club Wright's Meadow, Stanbridge Road, Leighton Buzzard, Bedfordshire, LU7 9HR.
1.1
Accounting convention
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.
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 financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Income and expenditure
Income and expenses are included in the financial statements as they become receivable or due.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
2% or 3% on valuation
Floodlights
5% on cost
Land
N/A
Radio mast land
N/A
Fixtures and fittings
5% on cost
Computer equipment
33% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to surplus or deficit.
1.4
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).
1.5
Stocks
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.
LEIGHTON BUZZARD RUGBY FOOTBALL CLUB LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 4 -
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.
1.6
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7
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.
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.
LEIGHTON BUZZARD RUGBY FOOTBALL CLUB LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 5 -
1.8
Employee benefits
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.
1.9
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
1.10
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
2
Judgements and key sources of estimation uncertainty
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 are 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.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was: 21
2024
2023
Number
Number
21
14
LEIGHTON BUZZARD RUGBY FOOTBALL CLUB LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 6 -
4
Tangible fixed assets
Freehold land and buildings
Floodlights
Land
Radio mast land
Fixtures and fittings
Computer equipment
Total
£
£
£
£
£
£
£
Cost
At 1 May 2023
1,919,012
90,689
48,000
100,000
130,014
2,682
2,290,397
Additions
58,149
5,005
63,154
At 30 April 2024
1,977,161
90,689
48,000
100,000
135,019
2,682
2,353,551
Depreciation and impairment
At 1 May 2023
605,703
49,876
77,073
564
733,216
Depreciation charged in the year
42,742
4,534
6,613
885
54,774
At 30 April 2024
648,445
54,410
83,686
1,449
787,990
Carrying amount
At 30 April 2024
1,328,716
36,279
48,000
100,000
51,333
1,233
1,565,561
At 30 April 2023
1,313,309
40,813
48,000
100,000
52,941
2,118
1,557,181
LEIGHTON BUZZARD RUGBY FOOTBALL CLUB LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 7 -
5
Financial instruments
6
Stocks
2024
2023
£
£
Finished goods and goods for resale
12,362
20,550
7
Debtors
2024
2023
Amounts falling due within one year:
£
£
Service charges due
5,841
2,696
Prepayments and accrued income
37,175
2,818
43,016
5,514
8
Creditors: amounts falling due within one year
2024
2023
Notes
£
£
Bank loans
10
7,148
7,148
Obligations under finance leases
12,543
Trade creditors
56,938
11,111
Taxation and social security
3,637
3,307
Government grants
11
2,196
2,196
Other creditors
138,761
113,982
Accruals and deferred income
2,282
2,818
223,505
140,562
9
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans and overdrafts
10
143,149
139,073
Obligations under finance leases
16,301
Government grants
11
15,372
17,568
174,822
156,641
LEIGHTON BUZZARD RUGBY FOOTBALL CLUB LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 8 -
10
Loans and overdrafts
2024
2023
£
£
Bank loans
150,297
146,221
Payable within one year
7,148
7,148
Payable after one year
143,149
139,073
11
Government grants
2024
2023
£
£
Arising from government grants
17,568
19,764
Included in the financial statements as follows:
Current liabilities
2,196
2,196
Non-current liabilities
15,372
17,568
17,568
19,764
12
Members' liability
The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.
2024-04-302023-05-01false14 June 2024CCH SoftwareCCH Accounts Production 2024.100No description of principal activityMr Peter ArthurMr Lee BeaumontMr James DavisMr Robert EvansMr Gordon FletcherMr Mark HardyMr Neil RaynerMr Marc TaylorMr Mark Hardyfalsefalse072379352023-05-012024-04-30072379352024-04-30072379352023-04-3007237935core:LandBuildingscore:OwnedOrFreeholdAssets2024-04-3007237935core:LandBuildingscore:LeasedAssetsHeldAsLessee2024-04-3007237935core:LeaseholdImprovements2024-04-3007237935core:PlantMachinery2024-04-3007237935core:FurnitureFittings2024-04-3007237935core:ComputerEquipment2024-04-3007237935core:LandBuildingscore:OwnedOrFreeholdAssets2023-04-3007237935core:LandBuildingscore:LeasedAssetsHeldAsLessee2023-04-3007237935core:LeaseholdImprovements2023-04-3007237935core:PlantMachinery2023-04-3007237935core:FurnitureFittings2023-04-3007237935core:ComputerEquipment2023-04-3007237935core:CurrentFinancialInstrumentscore:WithinOneYear2024-04-3007237935core:CurrentFinancialInstrumentscore:WithinOneYear2023-04-3007237935core:Non-currentFinancialInstrumentscore:AfterOneYear2024-04-3007237935core:Non-currentFinancialInstrumentscore:AfterOneYear2023-04-3007237935core:CurrentFinancialInstruments2024-04-3007237935core:CurrentFinancialInstruments2023-04-3007237935core:Non-currentFinancialInstruments2024-04-3007237935core:Non-currentFinancialInstruments2023-04-3007237935core:RetainedEarningsAccumulatedLosses2024-04-3007237935core:RetainedEarningsAccumulatedLosses2023-04-3007237935core:RetainedEarningsAccumulatedLosses2022-04-3007237935bus:Director52023-05-012024-04-3007237935core:RetainedEarningsAccumulatedLosses2022-05-012023-04-3007237935core:RetainedEarningsAccumulatedLosses2023-05-012024-04-3007237935core:LandBuildingscore:OwnedOrFreeholdAssets2023-05-012024-04-3007237935core:LandBuildingscore:LongLeaseholdAssets2023-05-012024-04-3007237935core:LeaseholdImprovements2023-05-012024-04-3007237935core:PlantMachinery2023-05-012024-04-3007237935core:FurnitureFittings2023-05-012024-04-3007237935core:ComputerEquipment2023-05-012024-04-30072379352022-05-012023-04-3007237935core:LandBuildingscore:OwnedOrFreeholdAssets2023-04-3007237935core:LandBuildingscore:LeasedAssetsHeldAsLessee2023-04-3007237935core:LeaseholdImprovements2023-04-3007237935core:PlantMachinery2023-04-3007237935core:FurnitureFittings2023-04-3007237935core:ComputerEquipment2023-04-30072379352023-04-3007237935core:LandBuildingscore:LeasedAssetsHeldAsLessee2023-05-012024-04-3007237935bus:CompanyLimitedByGuarantee2023-05-012024-04-3007237935bus:SmallCompaniesRegimeForAccounts2023-05-012024-04-3007237935bus:FRS1022023-05-012024-04-3007237935bus:AuditExemptWithAccountantsReport2023-05-012024-04-3007237935bus:Director12023-05-012024-04-3007237935bus:Director22023-05-012024-04-3007237935bus:Director32023-05-012024-04-3007237935bus:Director42023-05-012024-04-3007237935bus:Director62023-05-012024-04-3007237935bus:Director72023-05-012024-04-3007237935bus:Director82023-05-012024-04-3007237935bus:CompanySecretary12023-05-012024-04-3007237935bus:FullAccounts2023-05-012024-04-30xbrli:purexbrli:sharesiso4217:GBP