2023-01-012023-12-312023-12-31false06388230CIRENCESTER PARK POLO CLUB2024-08-27iso4217:GBPxbrli:pure063882302023-01-01063882302023-12-31063882302023-01-012023-12-31063882302022-01-01063882302022-12-31063882302022-01-012022-12-3106388230bus:SmallEntities2023-01-012023-12-3106388230bus:AuditExempt-NoAccountantsReport2023-01-012023-12-3106388230bus:FullAccounts2023-01-012023-12-3106388230bus:CompanyLimitedByGuarantee2023-01-012023-12-3106388230core:WithinOneYear2023-12-3106388230core:AfterOneYear2023-12-3106388230core:WithinOneYear2022-12-3106388230core:AfterOneYear2022-12-3106388230core:ShareCapital2023-12-3106388230core:SharePremium2023-12-3106388230core:RevaluationReserve2023-12-3106388230core:OtherReservesSubtotal2023-12-3106388230core:RetainedEarningsAccumulatedLosses2023-12-3106388230core:ShareCapital2022-12-3106388230core:SharePremium2022-12-3106388230core:RevaluationReserve2022-12-3106388230core:OtherReservesSubtotal2022-12-3106388230core:RetainedEarningsAccumulatedLosses2022-12-3106388230core:LandBuildings2023-12-3106388230core:PlantMachinery2023-12-3106388230core:Vehicles2023-12-3106388230core:FurnitureFittings2023-12-3106388230core:OfficeEquipment2023-12-3106388230core:NetGoodwill2023-12-3106388230core:IntangibleAssetsOtherThanGoodwill2023-12-3106388230core:ListedExchangeTraded2023-12-3106388230core:UnlistedNon-exchangeTraded2023-12-3106388230core:LandBuildings2022-12-3106388230core:PlantMachinery2022-12-3106388230core:Vehicles2022-12-3106388230core:FurnitureFittings2022-12-3106388230core:OfficeEquipment2022-12-3106388230core:NetGoodwill2022-12-3106388230core:IntangibleAssetsOtherThanGoodwill2022-12-3106388230core:ListedExchangeTraded2022-12-3106388230core:UnlistedNon-exchangeTraded2022-12-3106388230core:LandBuildings2023-01-012023-12-3106388230core:PlantMachinery2023-01-012023-12-3106388230core:Vehicles2023-01-012023-12-3106388230core:FurnitureFittings2023-01-012023-12-3106388230core:OfficeEquipment2023-01-012023-12-3106388230core:NetGoodwill2023-01-012023-12-3106388230core:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3106388230core:ListedExchangeTraded2023-01-012023-12-3106388230core:UnlistedNon-exchangeTraded2023-01-012023-12-3106388230core:MoreThanFiveYears2023-01-012023-12-3106388230core:Non-currentFinancialInstruments2023-12-3106388230core:Non-currentFinancialInstruments2022-12-3106388230dpl:CostSales2023-01-012023-12-3106388230dpl:DistributionCosts2023-01-012023-12-3106388230core:LandBuildings2023-01-012023-12-3106388230core:PlantMachinery2023-01-012023-12-3106388230core:Vehicles2023-01-012023-12-3106388230core:FurnitureFittings2023-01-012023-12-3106388230core:OfficeEquipment2023-01-012023-12-3106388230dpl:AdministrativeExpenses2023-01-012023-12-3106388230core:NetGoodwill2023-01-012023-12-3106388230core:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3106388230dpl:GroupUndertakings2023-01-012023-12-3106388230dpl:ParticipatingInterests2023-01-012023-12-3106388230dpl:GroupUndertakingscore:ListedExchangeTraded2023-01-012023-12-3106388230core:ListedExchangeTraded2023-01-012023-12-3106388230dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-01-012023-12-3106388230core:UnlistedNon-exchangeTraded2023-01-012023-12-3106388230dpl:CostSales2022-01-012022-12-3106388230dpl:DistributionCosts2022-01-012022-12-3106388230core:LandBuildings2022-01-012022-12-3106388230core:PlantMachinery2022-01-012022-12-3106388230core:Vehicles2022-01-012022-12-3106388230core:FurnitureFittings2022-01-012022-12-3106388230core:OfficeEquipment2022-01-012022-12-3106388230dpl:AdministrativeExpenses2022-01-012022-12-3106388230core:NetGoodwill2022-01-012022-12-3106388230core:IntangibleAssetsOtherThanGoodwill2022-01-012022-12-3106388230dpl:GroupUndertakings2022-01-012022-12-3106388230dpl:ParticipatingInterests2022-01-012022-12-3106388230dpl:GroupUndertakingscore:ListedExchangeTraded2022-01-012022-12-3106388230core:ListedExchangeTraded2022-01-012022-12-3106388230dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-01-012022-12-3106388230core:UnlistedNon-exchangeTraded2022-01-012022-12-3106388230core:NetGoodwill2023-12-3106388230core:IntangibleAssetsOtherThanGoodwill2023-12-3106388230core:LandBuildings2023-12-3106388230core:PlantMachinery2023-12-3106388230core:Vehicles2023-12-3106388230core:FurnitureFittings2023-12-3106388230core:OfficeEquipment2023-12-3106388230core:AfterOneYear2023-12-3106388230core:WithinOneYear2023-12-3106388230core:ListedExchangeTraded2023-12-3106388230core:UnlistedNon-exchangeTraded2023-12-3106388230core:ShareCapital2023-12-3106388230core:SharePremium2023-12-3106388230core:RevaluationReserve2023-12-3106388230core:OtherReservesSubtotal2023-12-3106388230core:RetainedEarningsAccumulatedLosses2023-12-3106388230core:NetGoodwill2022-12-3106388230core:IntangibleAssetsOtherThanGoodwill2022-12-3106388230core:LandBuildings2022-12-3106388230core:PlantMachinery2022-12-3106388230core:Vehicles2022-12-3106388230core:FurnitureFittings2022-12-3106388230core:OfficeEquipment2022-12-3106388230core:AfterOneYear2022-12-3106388230core:WithinOneYear2022-12-3106388230core:ListedExchan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CIRENCESTER PARK POLO CLUB

Registered Number
06388230
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

CIRENCESTER PARK POLO CLUB
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

Mr T D Beim
Mr M D Booth
Mr T Brown
Mr D M G David
Mr S S Dhillon
Mr S J England
Mr C M Fagan
Mrs T P Fox
Mr S R Lodge
Mr E J H Scott Hopkins
Mr W J P T Tobin

Registered Address

The Polo Office
Cirencester Park Polo Club
Cirencester
GL7 6JT

Registered Number

06388230 (England and Wales)
CIRENCESTER PARK POLO CLUB
Statement of Financial Position
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets34,5882,400
Tangible assets4465,313470,608
469,901473,008
Current assets
Stocks5-1,455
Debtors628,64358,469
Cash at bank and on hand7,43112,029
36,07471,953
Creditors amounts falling due within one year7(219,405)(199,942)
Net current assets (liabilities)(183,331)(127,989)
Total assets less current liabilities286,570345,019
Creditors amounts falling due after one year8(239,981)(241,746)
Net assets46,589103,273
Capital and reserves
Revaluation reserve50,00050,000
Other reserves203,524203,524
Profit and loss account(206,935)(150,251)
Reserves46,589103,273
The financial statements were approved and authorised for issue by the Board of Directors on 27 August 2024, and are signed on its behalf by:
Mr C M Fagan
Director
Registered Company No. 06388230
CIRENCESTER PARK POLO CLUB
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by guarantee and registered in England and Wales. The address of the registered office is The Polo Office, Cirencester Park Polo Club, Gloucestershire.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 values of assets and liabilities that are not readily apparent from other sources. These critical accounting judgements and estimations 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The critical judgements made by management that have a significant effect on the amounts recognised in the financial statements are described below.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the life of that asset as follows - Website - Over 5 years If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows: Computer Equipment 15% Straight Line Fixtures and Fittings 15% Reducing Balance Clubhouse Improvements 6.67% Straight Line Irrigation 3.33% Straight Line Plant and Machinery 20% Reducing Balance Motor Vehicles 15% Reducing Balance
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.
Share capital
The Company is limited by guarantee. Every member of the Company undertakes to contribute to the assets of the Company, in the event of the same being wound up while he or she is a member, or within one year after he or she ceases to be a member such amounts as may be requested not exceeding £1 for payment of the debts and liabilities of the Company
Government grants or assistance
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.Average number of employees

20232022
Average number of employees during the year22
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 January 2318,60818,608
Additions5,2255,225
At 31 December 2323,83323,833
Amortisation and impairment
At 01 January 2316,20816,208
Charge for year3,0373,037
At 31 December 2319,24519,245
Net book value
At 31 December 234,5884,588
At 31 December 222,4002,400
4.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Fixtures & fittings

Total

£££££
Cost or valuation
At 01 January 23275,258450,52511,60927,404764,796
Additions8,35529,480-3,88041,715
At 31 December 23283,613480,00511,60931,284806,511
Depreciation and impairment
At 01 January 2385,958181,22010,67316,337294,188
Charge for year18,63826,3291401,90347,010
At 31 December 23104,596207,54910,81318,240341,198
Net book value
At 31 December 23179,017272,45679613,044465,313
At 31 December 22189,300269,30593611,067470,608
5.Stocks

2023

2022

££
Finished goods-1,455
Total-1,455
6.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables17,98840,848
Other debtors5,5638,190
Prepayments and accrued income5,0929,431
Total28,64358,469
7.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables124,812121,649
Taxation and social security3,6592,945
Other creditors22,330
Accrued liabilities and deferred income90,93273,018
Total219,405199,942
8.Creditors: amounts due after one year

2023

2022

££
Trade creditors / trade payables73,37676,376
Bank borrowings and overdrafts22,63735,370
Other creditors143,968130,000
Total239,981241,746
9.Obligations under finance leases

2023

2022

££
Finance lease and HP contracts13,968-
10.Related party transactions
A number of Directors have loaned the club £64,376 as at 31/12/2023 (2022: £64,376). These loans are senior to the Irrigation Loan and so will be repaid prior to the Irrigation Loan but there is no specified date for repayment.