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REGISTERED NUMBER: 03353663 (England and Wales)





















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:

Ms A M Stedman


Ms K M Cooper


Ms G E Cooksley


Ms A M Contreras-Ramirez


V Tun







REGISTERED OFFICE:

Reedham Park Sports Club Limited


Lodge Hill


Purley


Surrey


CR8 4AH







REGISTERED NUMBER:

03353663 (England and Wales)







ACCOUNTANTS:

Orcom Civvals Limited


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

369,604


180,293



Investments

5

23,839


22,827



393,443


203,120




CURRENT ASSETS

Stocks

1,208


1,275



Debtors

6

261


959



Cash at bank and in hand

94,752


248,946



96,221


251,180



CREDITORS

Amounts falling due within one year

7

35,147


29,355



NET CURRENT ASSETS

61,074


221,825



TOTAL ASSETS LESS CURRENT

LIABILITIES

454,517


424,945




CREDITORS

Amounts falling due after more than

one year

8

144,864


124,859



NET ASSETS

309,653


300,086




RESERVES

Sinking fund

9

156,858


147,291



Reedham Park Club Loan

9

102,795


102,795



Income and expenditure account

9

50,000


50,000



309,653


300,086




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 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



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 28 August 2024 and were signed on its behalf by:





Ms G E Cooksley - Director




Ms A M Stedman - Director



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 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

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


Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.  


Leasehold land & buildings

-

4% on cost


Equipment

-

20% on cost


Tennis courts & floodlights

-  

20% on cost and 10% 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.

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

237,521


30,337


280,725


548,583




Additions

-


2,530


202,339


204,869




At 31 March 2024

237,521


32,867


483,064


753,452




DEPRECIATION


At 1 April 2023

117,952


24,113


226,225


368,290




Charge for year

4,750


1,918


8,890


15,558




At 31 March 2024

122,702


26,031


235,115


383,848




NET BOOK VALUE


At 31 March 2024

114,819


6,836


247,949


369,604




At 31 March 2023

119,569


6,224


54,500


180,293




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

36


-




VAT

-


49




Prepayments

225


910



261


959




7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR


2024

2023


£   

£   



VAT

341


-




Other creditors

24,467


23,815




Accrued expenses

10,339


5,540



35,147


29,355




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


-



144,864


124,859




9.

RESERVES


Income



and


Reedham



expenditure


Sinking


Park Club



account


fund


Loan


Totals

£   

£   

£   

£   




At 1 April 2023

50,000


147,291


102,795


300,086




Surplus for the year

9,567


9,567




Transfer

(9,567

)

9,567


-


-




At 31 March 2024

50,000


156,858


102,795


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.