REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
REEDHAM PARK SPORTS CLUB LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
REEDHAM PARK SPORTS CLUB LIMITED |
REEDHAM PARK SPORTS CLUB LIMITED (REGISTERED NUMBER: 03353663) |
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 |
REEDHAM PARK SPORTS CLUB LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Accountants |
50 Seymour Street |
London |
W1H 7JG |
REEDHAM PARK SPORTS CLUB LIMITED (REGISTERED NUMBER: 03353663) |
BALANCE SHEET |
31 MARCH 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 |
NET ASSETS |
RESERVES |
Sinking fund | 9 |
Reedham Park Club Loan | 9 |
Income and expenditure account | 9 |
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 surplus or deficit 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. |
REEDHAM PARK SPORTS CLUB LIMITED (REGISTERED NUMBER: 03353663) |
BALANCE SHEET - continued |
31 MARCH 2024 |
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 |
REEDHAM PARK SPORTS CLUB LIMITED (REGISTERED NUMBER: 03353663) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
1. | STATUTORY INFORMATION |
Reedham Park Sports Club Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the 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 |
Leasehold land & buildings | - | 4% on cost |
Equipment | - |
Tennis courts & floodlights | - |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
REEDHAM PARK SPORTS CLUB LIMITED (REGISTERED NUMBER: 03353663) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
4. | TANGIBLE FIXED ASSETS |
Leasehold land & buildings | Equip't | Tennis courts & floodlight |
Totals |
£ | £ | £ | £ |
COST |
At 1 April 2023 |
Additions |
At 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
5. | FIXED ASSET INVESTMENTS |
Investments (neither listed nor unlisted) were as follows: |
2024 | 2023 |
£ | £ |
NS&I savings certificates | 23,839 | 22,827 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
VAT |
Prepayments |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
VAT | 341 | - |
Other creditors |
Accrued expenses |
REEDHAM PARK SPORTS CLUB LIMITED (REGISTERED NUMBER: 03353663) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Deferred Lottery Grant | 119,864 | 124,859 |
LTA Loan | 25,000 | - |
9. | RESERVES |
Income |
and | Reedham |
expenditure | Sinking | Park Club |
account | fund | Loan | Totals |
£ | £ | £ | £ |
At 1 April 2023 |
Surplus for the year |
Transfer | (9,567 | ) | 9,567 | - | - |
At 31 March 2024 | 309,653 |
The loan from Reedhan Park Tennis Club Limited, which was granted when Reedham Park Sports Club Limited was first established, will not, in normal circumstances, be repayable. The directors interpret this as meaning that the loan will only become repayable on the ultimate dissolution of Reedham Park Sprts Club Limited. For this reason the directors consider that this is in the nature of a reserve and is therefore disclosed accordingly. |
10. | RELATED PARTY DISCLOSURES |
Reedham Park Tennis Clug Limited owns the freehold title to the land on which the clubhouse and tennis courts stand and has leased this land to the Company at a peppercorn rent for 99 years from 1 April 1997. In addition Reedham Park Tennis Club Limited has provided the loan as detailed in the Reserves note. |
11. | COMPANY STATUS |
The company is limited by guarantee without having a share capital. Each member is liable to contribute £10 in the event that the company is dissolved with insufficient funds to meet alll its liabilities. |