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Registered Number: 02057662
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 31 December 2023

for

IVYBRIDGE TENNIS CLUB

Directors Mr M R Owen
Mr M D Bruce
Ms S F Bradley
Mr D Wilson
Mr C S Childs
Mr P A Medlicott
Registered Number 02057662
Registered Office Erme Playing Fields
Ermington Road
Ivybridge
Devon
PL21 9ES
Accountants H M Williams Chartered Certified Accountants
5 Sandy Court
Ashleigh Way
Plymouth
PL7 5JX
Secretary Mr A L Strowger
1
Director's report and financial statements
The directors present his/her/their annual report and the financial statements for the year ended 31 December 2023
Principal activities
The principal activity of the company in the year under review was that of tennis club facilities.
Directors
The directors who have held office during the year were as follows:
Miss N J White (from 14/03/2000 to 16/07/2023)
Mr M R Owen (from 26/01/2016)
Mr J Beck (from 01/01/2018 to 16/07/2023)
Mr M D Bruce (from 25/09/2018)
Ms S F Bradley (from 24/06/2020)
Mr D Wilson (from 20/09/2022)
Mr C S Childs (from 01/11/2022)
Mr P A Medlicott (from 31/01/2023)
Statement of directors' responsibilities
The directors are responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business


The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report was approved by the board and signed on its behalf by:


----------------------------------
Mr C S Childs
Director

Date approved: 27 August 2024
2
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 933,428    969,977 
933,428    969,977 
Current assets      
Stocks 4 1,163    367 
Debtors 5 15,231    16,621 
Cash at bank and in hand 68,653    62,793 
85,047    79,781 
Creditors: amount falling due within one year 6 (37,818)   (38,676)
Net current assets 47,229    41,105 
 
Total assets less current liabilities 980,657    1,011,082 
Creditors: amount falling due after more than one year 7 (777,824)   (825,593)
Net assets 202,833    185,489 
 

Capital and reserves
     
General Reserves 8 4,900    4,900 
Profit and loss account 197,933    180,589 
Members' funds 202,833    185,489 
 


For the year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 27 August 2024 and were signed on its behalf by:


-------------------------------
Mr C S Childs
Director
3
General Information
Ivybridge Tennis Club is a private company, limited by guarantee, registered in England and Wales, registration number 02057662, registration address Erme Playing Fields, Ermington Road, Ivybridge, Devon, PL21 9ES.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and Buildings 2% Straight Line
Playing Surfaces 8 and 10 Years Straight Line
Fixtures and Fittings 15% Reducing Balance
Computer Equipment 3 Years Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items.
Pension costs and other post-retirement benefits..
The company operates a defined contribution pension scheme. The contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.
2.

Average number of employees

Average number of employees during the year was 11 (2022 : 9).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Playing Surfaces   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £
At 01 January 2023 1,641,832    237,930    93,120    5,364    1,978,246 
Additions     1,657    1,568    3,225 
Disposals        
At 31 December 2023 1,641,832    237,930    94,777    6,932    1,981,471 
Depreciation
At 01 January 2023 711,978    237,930    53,417    4,944    1,008,269 
Charge for year 32,837      6,204    733    39,774 
On disposals        
At 31 December 2023 744,815    237,930    59,621    5,677    1,048,043 
Net book values
Closing balance as at 31 December 2023 897,017      35,156    1,255    933,428 
Opening balance as at 01 January 2023 929,854      39,703    420    969,977 


4.

Stocks

2023
£
  2022
£
Stocks 1,163    367 
1,163    367 

5.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 7,066    7,213 
Other Debtors 8,165    9,408 
15,231    16,621 

6.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 2,094    5,746 
Taxation and Social Security 3,555    2,523 
Other Creditors 32,169    30,407 
37,818    38,676 

7.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Other Creditors 777,824    825,593 
777,824    825,593 
Amounts falling due in more than five years:
  2022
£
  2022
£
Repayable otherwise than by instalments - Loans from Members 10,690  10,690 
Repayable by instalments - Interest Free Loan - LTA 35,249  46,999 


8.

General Reserves

2023
£
  2022
£
General Reserve 4,900    4,900 
4,900    4,900 

9.

Other Financial Commitments

The company entered into a new 25 year lease for its premises from 22 May 2002.  The current annual rent is £6,120 per annum.  A rent review took place in April 2005 and the increase was in line with RPI.
10.

Company Limited by Guarantee

The company is limited by guarantee and therefore has no shares.
4