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Registration number: 02245573

Dewsbury Rams RLFC (Holdings) Limited

Unaudited Filleted Financial Statements

for the Year Ended 27 November 2023

 

Dewsbury Rams RLFC (Holdings) Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Dewsbury Rams RLFC (Holdings) Limited

(Registration number: 02245573)
Balance Sheet as at 27 November 2023

Note

2023
£

2022
£

           

Fixed assets

   

 

Tangible assets

4

 

19,555

 

37,577

Current assets

   

 

Stocks

2,095

 

2,070

 

Debtors

5

62,200

 

40,843

 

Cash at bank and in hand

 

7,476

 

39,299

 

 

71,771

 

82,212

 

Creditors: Amounts falling due within one year

6

(188,691)

 

(198,765)

 

Net current liabilities

   

(116,920)

 

(116,553)

Total assets less current liabilities

   

(97,365)

 

(78,976)

Creditors: Amounts falling due after more than one year

6

 

(248,187)

 

(170,285)

Net liabilities

   

(345,552)

 

(249,261)

Capital and reserves

   

 

Called up share capital

7

650

 

650

 

Other reserves

350

 

350

 

Retained earnings

(346,552)

 

(250,261)

 

Shareholders' deficit

   

(345,552)

 

(249,261)

 

Dewsbury Rams RLFC (Holdings) Limited

(Registration number: 02245573)
Balance Sheet as at 27 November 2023

For the financial year ending 27 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 1 July 2024 and signed on its behalf by:
 

.........................................
M A Sawyer
Director

 

Dewsbury Rams RLFC (Holdings) Limited

Notes to the Unaudited Financial Statements for the Year Ended 27 November 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Flair Stadium
Owl Lane
Dewsbury
West Yorkshire
WF12 7RH

These financial statements were authorised for issue by the Board on 1 July 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

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 disclosure and presentation requirements of Section 1A and the Companies Act 2006. The company has chosen to early adopt Financial Reporting Standard 102 March 2018

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The company's functional and presentation currency is pound sterling.

Going concern

Although the balance sheet shows a net liability position, the shareholders have indicated that they will continue to support the company, accordingly, the directors have prepared the financial statements on a going concern basis.

Revenue recognition

Turnover comprises the amount receivable from all activities associated with the running of a rugby league football club and is stated net of value added tax. All turnover arises in the United Kingdom.

Government grants

Grants are measured at the fair value of the asset received or receivable.

Grants relating to revenue shall be recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate.

A grant that becomes receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs shall be recognised in income in the period in which it becomes receivable.

Grants relating to assets shall be recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred it shall be recognised as deferred income and not deducted from the carrying amount of the asset.

 

Dewsbury Rams RLFC (Holdings) Limited

Notes to the Unaudited Financial Statements for the Year Ended 27 November 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Improvements to leasehold property

10% straight line basis

Plant and machinery

25% straight line basis

Fixtures and fittings

20% straight line basis

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Dewsbury Rams RLFC (Holdings) Limited

Notes to the Unaudited Financial Statements for the Year Ended 27 November 2023

Financial instruments

Financial assets

Basic financial assets, including trade and other receivables, are initially recognised at transaction price, 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 for a similar asset. Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss and any subsequent reversal is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities

Basic financial liabilities, including trade and other payables, 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 receipts discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 42 (2022 - 49).

 

Dewsbury Rams RLFC (Holdings) Limited

Notes to the Unaudited Financial Statements for the Year Ended 27 November 2023

4

Tangible assets

Improvements to leasehold property
£

Fixtures and fittings
 £

Plant and machinery
 £

Total
£

Cost or valuation

At 28 November 2022

113,511

155,046

125,642

394,199

At 27 November 2023

113,511

155,046

125,642

394,199

Depreciation

At 28 November 2022

93,916

146,260

116,446

356,622

Charge for the year

9,436

3,188

5,398

18,022

At 27 November 2023

103,352

149,448

121,844

374,644

Carrying amount

At 27 November 2023

10,159

5,598

3,798

19,555

At 27 November 2022

19,595

8,786

9,196

37,577

5

Debtors

Current

2023
£

2022
£

Trade debtors

22,419

8,911

Prepayments

39,781

21,824

Other debtors

-

10,108

 

62,200

40,843

 

Dewsbury Rams RLFC (Holdings) Limited

Notes to the Unaudited Financial Statements for the Year Ended 27 November 2023

6

Creditors

2023
£

2022
£

Due within one year

Loans and borrowings

120,683

109,575

Trade creditors

12,643

21,749

Taxation and social security

8,287

8,766

Accruals and deferred income

14,868

17,572

Other creditors

32,210

41,103

188,691

198,765

2023
£

2022
£

Due after one year

Loans and borrowings

248,187

170,285

2023
£

2022
£

Due after more than five years

After more than five years by instalments

17,395

72,320

-

-

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

650

650

650

650

         

8

Related party transactions

Expenditure with and payables to related parties

2023

Key management
£

Amounts payable to related party

122,627

2022

Key management
£

Amounts payable to related party

29,120