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REGISTERED NUMBER: 10959802 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

West Norfolk Rugby Club Limited
Company Limited by Guarantee

West Norfolk Rugby Club Limited (Registered number: 10959802)
Company Limited by Guarantee

Contents of the Financial Statements
for the Year Ended 30 April 2024










Page

Balance Sheet 1

Notes to the Financial Statements 3


West Norfolk Rugby Club Limited (Registered number: 10959802)
Company Limited by Guarantee

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £ £
Fixed assets
Tangible assets 5 131,644 133,961

Current assets
Stocks 10,788 7,970
Debtors 6 5,756 9,877
Cash at bank and in hand 72,606 60,195
89,150 78,042
Creditors
Amounts falling due within one year 7 (14,961 ) (115,109 )
Net current assets/(liabilities) 74,189 (37,067 )
Total assets less current liabilities 205,833 96,894

Creditors
Amounts falling due after more than one
year

8

(129,721

)

(30,000

)

Provisions for liabilities (5,157 ) -
Net assets 70,955 66,894

Reserves
Retained earnings 70,955 66,894
Members' funds 70,955 66,894

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 profit or loss 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.

West Norfolk Rugby Club Limited (Registered number: 10959802)
Company Limited by Guarantee

Balance Sheet - continued
30 April 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 June 2024 and were signed on its behalf by:





Mr I P G Trundley - Director


West Norfolk Rugby Club Limited (Registered number: 10959802)
Company Limited by Guarantee

Notes to the Financial Statements
for the Year Ended 30 April 2024


1. Statutory information

West Norfolk Rugby Club Limited is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 10959802

Registered office: 22-26 King Street
King's Lynn
Norfolk
PE30 1HJ

The presentation currency of the financial statements is the Pound Sterling (£).


2. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

West Norfolk Rugby Club Limited (Registered number: 10959802)
Company Limited by Guarantee

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


3. Accounting policies - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Improvements to property - 1% on reducing balance
Fixtures and fittings - 15% p.a. reducing balance

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and
slow moving items. Net realisable value is calculated at the lower of cost or selling price less cost to complete.

West Norfolk Rugby Club Limited (Registered number: 10959802)
Company Limited by Guarantee

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


3. Accounting policies - continued

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.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. 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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

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.


West Norfolk Rugby Club Limited (Registered number: 10959802)
Company Limited by Guarantee

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


3. Accounting policies - continued
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.

Limited by guarantee
The members of the company have agreed to contribute £1 each to the assets of the company in the event of it being wound up.

4. Employees and directors

The average number of employees during the year was 6 (2023 - 4 ) .

5. Tangible fixed assets
Fixtures
Improvements and
to property fittings Totals
£ £ £
Cost
At 1 May 2023 135,734 8,379 144,113
Additions - 1,030 1,030
At 30 April 2024 135,734 9,409 145,143
Depreciation
At 1 May 2023 6,275 3,877 10,152
Charge for year 2,601 746 3,347
At 30 April 2024 8,876 4,623 13,499
Net book value
At 30 April 2024 126,858 4,786 131,644
At 30 April 2023 129,459 4,502 133,961

6. Debtors: amounts falling due within one year
30.4.24 30.4.23
£ £
Other debtors 5,756 9,877

West Norfolk Rugby Club Limited (Registered number: 10959802)
Company Limited by Guarantee

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


7. Creditors: amounts falling due within one year
30.4.24 30.4.23
£ £
Trade creditors 3,820 8,601
Taxation and social security 1,342 1,063
Other creditors 9,799 105,445
14,961 115,109

8. Creditors: amounts falling due after more than one year
30.4.24 30.4.23
£ £
Other creditors 129,721 30,000