REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2024 |
for |
Hove Park Tennis Alliance Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2024 |
for |
Hove Park Tennis Alliance Ltd |
Hove Park Tennis Alliance Ltd (Registered number: 11295414) |
Contents of the Financial Statements |
for the Year Ended 31 March 2024 |
Page |
Balance Sheet | 1 |
Notes to the Financial Statements | 3 |
Hove Park Tennis Alliance Ltd (Registered number: 11295414) |
Balance Sheet |
31 March 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
Fixed assets |
Property, plant and equipment | 4 |
Current assets |
Debtors | 5 |
Cash at bank |
Creditors: amounts falling due within one year |
6 |
Net current assets |
Total assets less current liabilities |
Creditors: amounts falling due after more than one year |
7 |
( |
) |
( |
) |
Provisions for liabilities | ( |
) | ( |
) |
Net assets |
Reserves |
Income and expenditure account |
Members' funds |
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. |
Hove Park Tennis Alliance Ltd (Registered number: 11295414) |
Balance Sheet - continued |
31 March 2024 |
In accordance with Section 444 of the Companies Act 2006, the Income and Expenditure Account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Hove Park Tennis Alliance Ltd (Registered number: 11295414) |
Notes to the Financial Statements |
for the Year Ended 31 March 2024 |
1. | Statutory information |
Hove Park Tennis Alliance Ltd is a |
Registered number: |
Registered office: |
The presentation currency of the financial statements is in Pound Sterling (£) and rounding is to the nearest (£). |
2. | Accounting policies |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts. Membership subscriptions are reflected in the accounts in the period to which they relate. |
Property, plant and equipment |
Property, plant and equipment is stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Fixtures and fittings - 25% reducing balance |
Leasehold Improvements - Straight line over remainder of 25 year lease |
Plant and machinery - Straight line over 15 years |
Financial instruments |
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. |
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. |
Hove Park Tennis Alliance Ltd (Registered number: 11295414) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
2. | Accounting policies - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income and Expenditure Account, 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). |
Hove Park Tennis Alliance Ltd (Registered number: 11295414) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
4. | Property, plant and equipment |
Fixtures |
Leasehold | Plant and | and |
improvements | machinery | fittings | 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. | Debtors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Prepayments and accrued income |
6. | Creditors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts (see note 8) |
Payments on account |
Other creditors |
7. | Creditors: amounts falling due after more than one year |
2024 | 2023 |
£ | £ |
Bank loans (see note 8) |
Hove Park Tennis Alliance Ltd (Registered number: 11295414) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
8. | Loans |
Included in bank loans is an amount of £54,679 which is payable over 5 years commencing September 2022 and carries no interest. The balance is repayable in biannual installments. |
9. | Limited by guarantee |
The company is limited by guarantee, not having share capital. In the event of the company being wound up, every member, while he or she is a member, or within one year after he or she ceases to be a member, undertakes to contribute to the assets of the company, such amount as may be required not exceeding £10. |