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REGISTERED NUMBER: 02933342 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023

FOR

SUN POSTAL SPORTS & SOCIAL CLUB LIMITED

SUN POSTAL SPORTS & SOCIAL CLUB LIMITED (REGISTERED NUMBER: 02933342)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 April 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SUN POSTAL SPORTS & SOCIAL CLUB LIMITED

COMPANY INFORMATION
for the Year Ended 30 April 2023







DIRECTOR: Mr F Woolner





REGISTERED OFFICE: Bellmount Wood Avenue
Watford
Hertfordshire
WD17 3BN





REGISTERED NUMBER: 02933342 (England and Wales)





ACCOUNTANTS: Kings Chartered Accountants
4 Grovelands
Boundary Way
Hemel Hempstead
Hertfordshire
HP2 7TE

SUN POSTAL SPORTS & SOCIAL CLUB LIMITED (REGISTERED NUMBER: 02933342)

BALANCE SHEET
30 April 2023

30.4.23 30.4.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 764,078 788,582

CURRENT ASSETS
Debtors 5 40 40
Cash at bank and in hand 929 297
969 337
CREDITORS
Amounts falling due within one year 6 49,543 68,246
NET CURRENT LIABILITIES (48,574 ) (67,909 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

715,504

720,673

CREDITORS
Amounts falling due after more than one
year

7

762,342

772,881
NET LIABILITIES (46,838 ) (52,208 )

RESERVES
Income and expenditure account (46,838 ) (52,208 )
(46,838 ) (52,208 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

SUN POSTAL SPORTS & SOCIAL CLUB LIMITED (REGISTERED NUMBER: 02933342)

BALANCE SHEET - continued
30 April 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 August 2024 and were signed by:





Mr F Woolner - Director


SUN POSTAL SPORTS & SOCIAL CLUB LIMITED (REGISTERED NUMBER: 02933342)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 April 2023

1. STATUTORY INFORMATION

Sun Postal Sports & Social 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The accounts have been prepared on a going concern basis which assumes that the company will continue to trade. The validity of this assumption is dependent on sufficient and continuing financial support being made available by the company's director, the shareholders and the creditors. If the company were unable to continue to trade adjustments would have to be made to reduce the value of assets to their realisable amount, to reclassify fixed assets as current assets, long-term liabilities as current liabilities, and to provide for any further liabilities that may arise.

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.
Freehold property - 2% on cost or valuation

Depreciation is not provided on the Land as it is the company's practice to maintain the assets in a continued state of sound repair. Accordingly, the directors consider that the life of this asset is such that any depreciation charge would be insignificant.

SUN POSTAL SPORTS & SOCIAL CLUB LIMITED (REGISTERED NUMBER: 02933342)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Grant income
Grants in respect of capital expenditure are treated as deferred income and credited to the profit and loss account over the estimated life of the asset to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

SUN POSTAL SPORTS & SOCIAL CLUB LIMITED (REGISTERED NUMBER: 02933342)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2023

4. TANGIBLE FIXED ASSETS
Freehold
property
£   
COST
At 1 May 2022
and 30 April 2023 1,225,218
DEPRECIATION
At 1 May 2022 436,636
Charge for year 24,504
At 30 April 2023 461,140
NET BOOK VALUE
At 30 April 2023 764,078
At 30 April 2022 788,582

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Prepayments and accrued income 40 40

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Bank loans and overdrafts (see note 8) 14,651 34,019
Trade creditors 4,171 324
Amounts owed to participating interests 5,500 11,174
Taxation 5,225 1,935
Value added tax 1,846 844
Accruals and deferred income 950 2,750
Deferred grants 17,200 17,200
49,543 68,246

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.23 30.4.22
£    £   
Bank loans (see note 8) 153,392 143,981
Amounts owed to participating interests - 100,000
Directors' loan accounts 97,250 -
Deferred grants 511,700 528,900
762,342 772,881

SUN POSTAL SPORTS & SOCIAL CLUB LIMITED (REGISTERED NUMBER: 02933342)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
30.4.23 30.4.22
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years
by instalments 88,340 75,012
88,340 75,012

8. LOANS

An analysis of the maturity of loans is given below:

30.4.23 30.4.22
£    £   
Amounts falling due within one year or on demand:
Bank loans 14,651 34,019

Amounts falling due between two and five years:
Bank loans - 2-5 years 65,052 68,969

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years
by instalments 88,340 75,012
88,340 75,012

9. SECURED DEBTS

The following secured debts are included within creditors:

30.4.23 30.4.22
£    £   
Bank loans 168,043 178,000

The bank loan is secured by a first legal charge over the land and buildings owned by the company.

10. CONTINGENT LIABILITIES

An existing donation, being released over 50 years from receipt, from The Post Office (Watford Branch) has been recognised in full in the profit and loss in the prior year. The donation has been recognised in full and as the recognition criteria has changed due to the closure of the donor's business. Accordingly, in the opinion of the Directors, the terms of repayment of the donation have been satisfied in full.

11. RELATED PARTY DISCLOSURES

During the year, the company received rent amounting to £24,000 (2022: £24,000) from BJB Management Ltd, a company in which Mr F Woolner is also a director.