Worthing Gymnastics Club Ltd 11730644 false 2022-09-01 2023-08-31 2023-08-31 The principal activity of the company is the operation of a not for profit gymnastics club. Digita Accounts Production Advanced 6.30.9574.0 true true 11730644 2022-09-01 2023-08-31 11730644 2023-08-31 11730644 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 11730644 core:FurnitureFittingsToolsEquipment 2023-08-31 11730644 core:LandBuildings 2023-08-31 11730644 bus:SmallEntities 2022-09-01 2023-08-31 11730644 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 11730644 bus:FilletedAccounts 2022-09-01 2023-08-31 11730644 bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 11730644 bus:RegisteredOffice 2022-09-01 2023-08-31 11730644 bus:Director1 2022-09-01 2023-08-31 11730644 bus:CompanyLimitedByGuarantee 2022-09-01 2023-08-31 11730644 core:Buildings 2022-09-01 2023-08-31 11730644 core:FurnitureFittingsToolsEquipment 2022-09-01 2023-08-31 11730644 core:LandBuildings 2022-09-01 2023-08-31 11730644 countries:England 2022-09-01 2023-08-31 11730644 2022-08-31 11730644 core:FurnitureFittingsToolsEquipment 2022-08-31 11730644 core:LandBuildings 2022-08-31 11730644 2021-09-01 2022-08-31 11730644 2022-08-31 11730644 core:CurrentFinancialInstruments core:WithinOneYear 2022-08-31 11730644 core:CurrentFinancialInstruments core:WithinOneYear core:PreviouslyStatedAmount 2022-08-31 11730644 core:FurnitureFittingsToolsEquipment 2022-08-31 11730644 core:LandBuildings 2022-08-31 11730644 core:PreviouslyStatedAmount 2022-08-31 iso4217:GBP xbrli:pure

Worthing Gymnastics Club Ltd

(A company limited by guarantee)

Annual Report and Unaudited Financial Statements

for the Year Ended 31 August 2023

Registration number: 11730644

 

Worthing Gymnastics Club Ltd

Contents

Statement of financial position

1

Notes to the Unaudited Financial Statements

2 to 4

 

Worthing Gymnastics Club Ltd

(Registration number: 11730644)
Statement of financial position as at 31 August 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

13,028

16,825

Current assets

 

Debtors

5

2,500

2,500

Cash at bank and in hand

 

75,854

82,186

 

78,354

84,686

Creditors: Amounts falling due within one year

6

(2,280)

(23,571)

Net current assets

 

76,074

61,115

Net assets

 

89,102

77,940

Total Members' Funds

 

89,102

77,940

For the financial year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges her 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 director has not delivered to the registrar a copy of the Income statement.

Approved and authorised by the director on 28 August 2024
 

.........................................
H Sampford
Director

 

Worthing Gymnastics Club Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

1

General information

The company is a company limited by guarantee, incorporated in England, 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 liquidation.

The address of its registered office is:
Solo House
The Courtyard
London Road
Horsham
West Sussex
RH12 1AT

These financial statements were authorised for issue by the director on 28 August 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 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the statement of financial position 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.

 

Worthing Gymnastics Club Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

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

Furniture, fittings and equipment

20% reducing balance

Land and buildings

20% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2022 - 1).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 September 2022

6,590

19,800

26,390

At 31 August 2023

6,590

19,800

26,390

Depreciation

At 1 September 2022

2,685

6,880

9,565

Charge for the year

1,318

2,479

3,797

At 31 August 2023

4,003

9,359

13,362

Carrying amount

At 31 August 2023

2,587

10,441

13,028

At 31 August 2022

3,905

12,920

16,825

Included within the net book value of land and buildings above is £2,587 (2022 - £3,905) in respect of short leasehold land and buildings.
 

5

Debtors

Current

2023
£

2022
£

Other debtors

2,500

2,500

 

2,500

2,500

 

Worthing Gymnastics Club Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

-

2,173

Taxation and social security

780

4,202

Accruals and deferred income

1,500

1,500

Other creditors

-

15,696

2,280

23,571