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REGISTERED NUMBER: 08761408 (England and Wales)















Financial Statements for the Year Ended 31 March 2024

for

Stourbridge Lawn Tennis and Squash Club
Limited

Stourbridge Lawn Tennis and Squash Club
Limited (Registered number: 08761408)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Stourbridge Lawn Tennis and Squash Club
Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr J Bartlett
Mr N Carter
Mr S P G Davis
Mr A G Grosvenor
Mr R J Hunt
Mr S Hunter
Mr P Mumby
Mr T J Roberts
Mr P R Barnsley
Miss A Goodby





SECRETARY: Mr T J Roberts





REGISTERED OFFICE: Sugar Loaf Lane
Iverley
Stourbridge
West Midlands
DY7 6PS





REGISTERED NUMBER: 08761408 (England and Wales)

Stourbridge Lawn Tennis and Squash Club
Limited (Registered number: 08761408)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,510,262 1,499,230

CURRENT ASSETS
Stocks 9,364 8,297
Debtors 5 343,435 305,019
Cash at bank and in hand 170,002 267,655
522,801 580,971
CREDITORS
Amounts falling due within one year 6 471,834 440,533
NET CURRENT ASSETS 50,967 140,438
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,561,229

1,639,668

CREDITORS
Amounts falling due after more than one
year

7

(136,209

)

(162,691

)

PROVISIONS FOR LIABILITIES 9 (22,350 ) (23,950 )
NET ASSETS 1,402,670 1,453,027

RESERVES
Retained earnings 1,402,670 1,453,027
MEMBERS' FUNDS 1,402,670 1,453,027

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

Stourbridge Lawn Tennis and Squash Club
Limited (Registered number: 08761408)

Balance Sheet - continued
31 March 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 July 2024 and were signed on its behalf by:





Mr P R Barnsley - Director


Stourbridge Lawn Tennis and Squash Club
Limited (Registered number: 08761408)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Stourbridge Lawn Tennis and Squash Club Limited is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. 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.

Turnover
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates and VAT. The following criteria must also be met before revenue is recognised:

Subscriptions - Revenue is recognised in the period in which the membership relates.

Grant - Amounts received in respect of capital expenditure are treated as deferred income and are credited to the income and expenditure account over the estimated useful life of the asset to which they relate.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Clubhouse and other assets - at varying rates on cost
Tennis courts and surrounds - 10% on cost
Gym and gym equipment - at varying rates on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Stourbridge Lawn Tennis and Squash Club
Limited (Registered number: 08761408)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2023 - 23 ) .

4. TANGIBLE FIXED ASSETS
Tennis
Clubhouse courts Gym and
and other and gym
assets surrounds equipment Totals
£    £    £    £   
COST
At 1 April 2023 1,520,681 327,572 296,421 2,144,674
Additions 74,684 - 4,063 78,747
At 31 March 2024 1,595,365 327,572 300,484 2,223,421
DEPRECIATION
At 1 April 2023 343,262 216,285 85,897 645,444
Charge for year 31,271 22,130 14,314 67,715
At 31 March 2024 374,533 238,415 100,211 713,159
NET BOOK VALUE
At 31 March 2024 1,220,832 89,157 200,273 1,510,262
At 31 March 2023 1,177,419 111,287 210,524 1,499,230

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 328,966 294,021
Other debtors 3,970 2,310
Prepayments and accrued income 10,499 8,688
343,435 305,019

Stourbridge Lawn Tennis and Squash Club
Limited (Registered number: 08761408)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 29,000 32,000
Trade creditors 4,136 4,334
Tax 1,277 1,195
Social security and other taxes 5,805 3,241
VAT 5,532 10,547
Other creditors 12,356 12,654
Sales reserve 397,519 368,748
Accruals and deferred income 16,209 7,814
471,834 440,533

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans - 1-2 years 29,000 32,000
Bank loans - 2-5 years 107,209 130,691
136,209 162,691

8. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 165,209 194,691

The Lloyds Bank plc loan is secured on a fixed and floating charge on the freehold land and buildings created 23rd December 2013.

9. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Other provisions 22,350 23,950

Grant
provision
£   
Balance at 1 April 2023 23,950
Balance at 31 March 2024 23,950

10. LIMITED BY GUARANTEE

The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of a liquidation.