REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023 |
FOR |
SUN POSTAL SPORTS & SOCIAL CLUB LIMITED |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
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 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET LIABILITIES | ( |
) | ( |
) |
RESERVES |
Income and expenditure account | ( |
) | ( |
) |
( |
) | ( |
) |
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 |
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 |
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 |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Freehold property | - |
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 |
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 |
DEPRECIATION |
At 1 May 2022 |
Charge for year |
At 30 April 2023 |
NET BOOK VALUE |
At 30 April 2023 |
At 30 April 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.23 | 30.4.22 |
£ | £ |
Prepayments and accrued income |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.23 | 30.4.22 |
£ | £ |
Bank loans and overdrafts (see note 8) |
Trade creditors |
Amounts owed to participating interests | 5,500 | 11,174 |
Taxation |
Value added tax | 1,846 | 844 |
Accruals and deferred income |
Deferred grants | 17,200 | 17,200 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.4.23 | 30.4.22 |
£ | £ |
Bank loans (see note 8) |
Amounts owed to participating interests | - | 100,000 |
Directors' loan accounts | 97,250 | - |
Deferred grants | 511,700 | 528,900 |
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 |
Amounts falling due between two and five years: |
Bank loans - 2-5 years |
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 |
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. |