Silverfin false false 30/04/2024 01/05/2023 30/04/2024 Mr S Kastell 01/05/2023 Mr C A Price 31/10/2023 31/12/2020 Mr N A Tinney 31/12/2020 14 August 2024 The principal activity of the Company in the period was that of acting as a trading arm for its parent Company, Truro Rugby Football Club Limited, a Community Amateur Sports Club. 12913860 2024-04-30 12913860 bus:Director1 2024-04-30 12913860 bus:Director2 2024-04-30 12913860 bus:Director3 2024-04-30 12913860 2023-04-30 12913860 core:CurrentFinancialInstruments 2024-04-30 12913860 core:CurrentFinancialInstruments 2023-04-30 12913860 core:ShareCapital 2024-04-30 12913860 core:ShareCapital 2023-04-30 12913860 core:ImmediateParent core:CurrentFinancialInstruments 2024-04-30 12913860 core:ImmediateParent core:CurrentFinancialInstruments 2023-04-30 12913860 bus:OrdinaryShareClass1 2024-04-30 12913860 2023-05-01 2024-04-30 12913860 bus:FilletedAccounts 2023-05-01 2024-04-30 12913860 bus:SmallEntities 2023-05-01 2024-04-30 12913860 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 12913860 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 12913860 bus:Director1 2023-05-01 2024-04-30 12913860 bus:Director2 2023-05-01 2024-04-30 12913860 bus:Director3 2023-05-01 2024-04-30 12913860 2022-05-01 2023-04-30 12913860 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 12913860 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 12913860 (England and Wales)

TRURO RUGBY FOOTBALL CLUB TRADING LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

TRURO RUGBY FOOTBALL CLUB TRADING LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

TRURO RUGBY FOOTBALL CLUB TRADING LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 April 2024
TRURO RUGBY FOOTBALL CLUB TRADING LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 April 2024
2024 2023
£ £
Current assets
Stocks 5,690 4,222
Debtors 3 15,750 14,053
Cash at bank and in hand 7,755 125
29,195 18,400
Creditors: amounts falling due within one year 4 ( 29,194) ( 18,399)
Net current assets 1 1
Total assets less current liabilities 1 1
Net assets 1 1
Capital and reserves
Called-up share capital 5 1 1
Total shareholder's funds 1 1

For the financial year ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Truro Rugby Football Club Trading Limited (registered number: 12913860) were approved and authorised for issue by the Board of Directors on 14 August 2024. They were signed on its behalf by:

Mr N A Tinney
Director
TRURO RUGBY FOOTBALL CLUB TRADING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
TRURO RUGBY FOOTBALL CLUB TRADING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Truro Rugby Football Club Trading Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Truro Rugby Club, St Clements Hill, Truro, TR1 1NY, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Comprehensive Income as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 3

3. Debtors

2024 2023
£ £
Trade debtors 15,750 11,912
Other debtors 0 2,141
15,750 14,053

4. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 12,055 3,333
Amounts owed to Parent undertakings 818 14,591
Accruals 16,171 0
Other taxation and social security 150 475
29,194 18,399

5. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00 1 1