Acorah Software Products - Accounts Production 14.6.300 false true true 31 October 2022 1 November 2021 false 1 November 2022 31 October 2023 31 October 2023 02927755 Mr Kevin Brazier Mr Paul Porter iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 02927755 2022-10-31 02927755 2023-10-31 02927755 2022-11-01 2023-10-31 02927755 frs-core:CurrentFinancialInstruments 2023-10-31 02927755 frs-core:Non-currentFinancialInstruments 2023-10-31 02927755 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-10-31 02927755 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 02927755 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-10-31 02927755 frs-core:PlantMachinery 2023-10-31 02927755 frs-core:PlantMachinery 2022-11-01 2023-10-31 02927755 frs-core:PlantMachinery 2022-10-31 02927755 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31 02927755 frs-bus:CompanyLimitedByGuarantee 2022-11-01 2023-10-31 02927755 frs-bus:FilletedAccounts 2022-11-01 2023-10-31 02927755 frs-bus:SmallEntities 2022-11-01 2023-10-31 02927755 frs-bus:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 02927755 frs-bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 02927755 frs-bus:Director1 2022-11-01 2023-10-31 02927755 frs-bus:Director2 2022-11-01 2023-10-31 02927755 frs-countries:EnglandWales 2022-11-01 2023-10-31 02927755 2021-10-31 02927755 2022-10-31 02927755 2021-11-01 2022-10-31 02927755 frs-core:CurrentFinancialInstruments 2022-10-31 02927755 frs-core:Non-currentFinancialInstruments 2022-10-31 02927755 frs-core:RetainedEarningsAccumulatedLosses 2022-10-31
Registered number: 02927755
Shire Park Bowls Club (Tewin) Limited
Financial Statements
For The Year Ended 31 October 2023
Resolve Corporate Ltd
11 Garden Court
Tewin Road
Welwyn Garden City
Hertfordshire
AL7 1BH
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 02927755
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 96,699 99,938
96,699 99,938
CURRENT ASSETS
Stocks 5 700 1,687
Debtors 6 1,514 1,563
Cash at bank and in hand 16,097 15,652
18,311 18,902
Creditors: Amounts Falling Due Within One Year 7 (1,659 ) (3,360 )
NET CURRENT ASSETS (LIABILITIES) 16,652 15,542
TOTAL ASSETS LESS CURRENT LIABILITIES 113,351 115,480
Creditors: Amounts Falling Due After More Than One Year 8 (21,424 ) (22,363 )
NET ASSETS 91,927 93,117
Income and Expenditure Account 91,927 93,117
MEMBERS' FUNDS 91,927 93,117
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For the year ending 31 October 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 Kevin Brazier
Director
31st July 2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Shire Park Bowls Club (Tewin) Limited is a private company, limited by guarantee, incorporated in England & Wales, registered number 02927755 . The registered office is School Lane, Tewin, Welwyn, Hertfordshire, AL6 0HT.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These  financial  statements  have  been  prepared  in accordance  with  FRS  102  "The  Financial  Reporting Standard applicable  in the UK and Republic of lreland" ("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 financial  statements  have been prepared  under the historical cost convention. The principal accounting policies adopted are set out below.
2.2. Going Concern Disclosure
At the time of approving  the financial statements, the director has a reasonable  expectation that the company has adequate  resources  to continue  in operational  existence  for the foreseeable  future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
2.3. Significant judgements and estimations
In the application of the company's accounting policies, the director is 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.
In the director's opinion there are no significant judgements or key sources of estimation uncertainty.
2.4. 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.
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2.5. Tangible Fixed Assets and Depreciation
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 2% straight line
Plant & Machinery 25% straight line
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
2.6. 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.
2.7. 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.
2.8. Taxation
The company is not liable to corporation tax due to being entitled to the Community Amateur Sports Club tax exemptions.
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2.9. Government Grant
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.
Government grants relating to turnover are recognised as income over the periods when the related costs are incurred. Grants relating to an asset are recognised in income systematically over the asset's expected useful life. If part of such a grant is deferred it is recognised as deferred income rather than being deducted from the asset's carrying amount.
2.10. Income and expenditure
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.
2.11. 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.
2.12. Cash at bank and in hand
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2022: NIL)
- -
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Total
£ £ £
Cost
As at 1 November 2022 135,753 52,375 188,128
Additions 4,339 - 4,339
As at 31 October 2023 140,092 52,375 192,467
Depreciation
As at 1 November 2022 51,477 36,713 88,190
Provided during the period 2,381 5,197 7,578
As at 31 October 2023 53,858 41,910 95,768
Net Book Value
As at 31 October 2023 86,234 10,465 96,699
As at 1 November 2022 84,276 15,662 99,938
5. Stocks
2023 2022
£ £
Finished goods 700 1,687
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6. Debtors
2023 2022
£ £
Due within one year
Prepayments and accrued income 1,514 1,563
1,514 1,563
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Accruals and deferred income 1,659 3,360
1,659 3,360
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Accruals and deferred income 21,424 22,363
21,424 22,363
9. Company limited by guarantee
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.
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