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REGISTERED NUMBER: 06867321 (England and Wales)















Wells Rugby Football Club Limited
Limited by guarantee

Unaudited Financial Statements for the Year Ended 30 April 2024






Wells Rugby Football Club Limited (Registered number: 06867321)
Limited by guarantee






Contents of the Financial Statements
for the year ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Wells Rugby Football Club Limited
Limited by guarantee

Company Information
for the year ended 30 April 2024







DIRECTORS: M J Durston
T G Payne
S Hegarty
B N Knight
F J Watts
G M Walker-Doyle





REGISTERED OFFICE: The Clubhouse
Charter Way
Wells
Somerset
BA5 2FB





REGISTERED NUMBER: 06867321 (England and Wales)





ACCOUNTANTS: Webb & Co Ltd
Accountants and Business Advisers
One New Street
Wells
Somerset
BA5 2LA

Wells Rugby Football Club Limited (Registered number: 06867321)
Limited by guarantee

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 430,965 433,679
Investments 4 1 1
430,966 433,680

CURRENT ASSETS
Debtors 5 17,413 19,972
Cash at bank 26,982 27,184
44,395 47,156
CREDITORS
Amounts falling due within one year 6 85,577 109,115
NET CURRENT LIABILITIES (41,182 ) (61,959 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

389,784

371,721

CREDITORS
Amounts falling due after more than one
year

7

(12,470

)

(22,158

)

PROVISIONS FOR LIABILITIES (2,965 ) (3,382 )
NET ASSETS 374,349 346,181

RESERVES
Revaluation reserve 66,110 66,110
Retained earnings 308,239 280,071
MEMBERS' FUNDS 374,349 346,181

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Wells Rugby Football Club Limited (Registered number: 06867321)
Limited by guarantee

Balance Sheet - continued
30 April 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 July 2024 and were signed on its behalf by:





M J Durston - Director


Wells Rugby Football Club Limited (Registered number: 06867321)
Limited by guarantee

Notes to the Financial Statements
for the year ended 30 April 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about Wells Rugby Football 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - Land 0%. Buildings over 50 years.
Plant and machinery - 10% on cost
Motor vehicles - 20% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 9 ) .

Wells Rugby Football Club Limited (Registered number: 06867321)
Limited by guarantee

Notes to the Financial Statements - continued
for the year ended 30 April 2024

3. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 May 2023 434,795 24,388 2,500 461,683
Additions - 400 - 400
Disposals - - (2,500 ) (2,500 )
At 30 April 2024 434,795 24,788 - 459,583
DEPRECIATION
At 1 May 2023 14,643 10,861 2,500 28,004
Charge for year 1,046 2,068 - 3,114
Eliminated on disposal - - (2,500 ) (2,500 )
At 30 April 2024 15,689 12,929 - 28,618
NET BOOK VALUE
At 30 April 2024 419,106 11,859 - 430,965
At 30 April 2023 420,152 13,527 - 433,679

4. FIXED ASSET INVESTMENTS
Shares in
group
under-
takings
£   
COST
At 1 May 2023
and 30 April 2024 1
NET BOOK VALUE
At 30 April 2024 1
At 30 April 2023 1

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Wells RFC Trading Limited
Registered office: Charter Way, Wells, Somerset
Nature of business:
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 1 326
(Loss)/profit for the year (325 ) 6,159

Wells Rugby Football Club Limited (Registered number: 06867321)
Limited by guarantee

Notes to the Financial Statements - continued
for the year ended 30 April 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 960
Amounts owed by group undertakings 285 -
Other debtors 17,128 19,012
17,413 19,972

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 9,500 9,500
Trade creditors 1,695 861
Amounts owed to group undertakings - 494
Taxation and social security 1,741 1,521
Other creditors 72,641 96,739
85,577 109,115

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 12,470 22,158

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Other loans 70,000 70,000

First legal mortgage dated 18 December 2009 with full title guarantee all that property or land situated on the south side of the A371 at Haybridge, Wells, Somerset title number WS20708 together with all buildings erections structures fixtures fittings and appurtenances.

First legal mortgage dated 18 December 2009 with full title guarantee all that property or land situated to the north of Charter Way, Wells, Somerset and known as Wells Rugby Club title number WS21088 together with all buildings erections structures fixtures fittings and appurtenances.