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REGISTERED NUMBER: 06703814 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

THANET INDOOR BOWLS CLUB LIMITED

THANET INDOOR BOWLS CLUB LIMITED (REGISTERED NUMBER: 06703814)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 6

THANET INDOOR BOWLS CLUB LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: I Barrowcliffe
Ms P J Freeman
P N Proctor
G W Stanford
I R Thorpe
J S Evans
J H Shearwood





REGISTERED OFFICE: Thanet Indoor Bowls Centre
Fifth Avenue
Cliftonville
Margate
CT9 3AB





REGISTERED NUMBER: 06703814 (England and Wales)





ACCOUNTANTS: Kemps Accounting Solutions Limited
Chartered Accountants
42A High Street
Broadstairs
Kent
CT10 1JT

THANET INDOOR BOWLS CLUB LIMITED (REGISTERED NUMBER: 06703814)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 17,234 24,129

CURRENT ASSETS
Stocks 10,057 9,130
Debtors 5 2,856 3,257
Cash at bank and in hand 97,417 89,300
110,330 101,687
CREDITORS
Amounts falling due within one year 6 22,367 22,655
NET CURRENT ASSETS 87,963 79,032
TOTAL ASSETS LESS CURRENT
LIABILITIES

105,197

103,161

CREDITORS
Amounts falling due after more than one
year

7

50,095

55,179
NET ASSETS 55,102 47,982

RESERVES
Income and expenditure account 55,102 47,982
55,102 47,982

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

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.

THANET INDOOR BOWLS CLUB LIMITED (REGISTERED NUMBER: 06703814)

BALANCE SHEET - continued
31 MARCH 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 October 2024 and were signed on its behalf by:





I R Thorpe - Director


THANET INDOOR BOWLS CLUB LIMITED (REGISTERED NUMBER: 06703814)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Thanet Indoor Bowls 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.

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.

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.
Long leasehold - 10% on cost
Fixtures and Fittings - 25% on cost and 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to surplus or deficit on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Life membership fees
Life membership fees received during the year are recognised to reflect the anticipated usage of the Club facilities over the subsequent six years and are therefore credited to income in equal instalments.

THANET INDOOR BOWLS CLUB LIMITED (REGISTERED NUMBER: 06703814)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Government grants
Government grants received are treated as deferred credits and credited to the income and expenditure account over the same period as the associated expenditure.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 15 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 525,193 430,165 955,358
Additions - 942 942
At 31 March 2024 525,193 431,107 956,300
DEPRECIATION
At 1 April 2023 506,409 424,820 931,229
Charge for year 3,757 4,080 7,837
At 31 March 2024 510,166 428,900 939,066
NET BOOK VALUE
At 31 March 2024 15,027 2,207 17,234
At 31 March 2023 18,784 5,345 24,129

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors 2,856 3,257

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 2,287 9,644
Taxation and social security 7,659 -
Other creditors 12,421 13,011
22,367 22,655

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Other creditors 50,095 55,179

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
THANET INDOOR BOWLS CLUB LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Thanet Indoor Bowls Club Limited for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Thanet Indoor Bowls Club Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Thanet Indoor Bowls Club Limited and state those matters that we have agreed to state to the Board of Directors of Thanet Indoor Bowls Club Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Thanet Indoor Bowls Club Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Thanet Indoor Bowls Club Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Thanet Indoor Bowls Club Limited. You consider that Thanet Indoor Bowls Club Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Thanet Indoor Bowls Club Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Kemps Accounting Solutions Limited
Chartered Accountants
42A High Street
Broadstairs
Kent
CT10 1JT


6 October 2024