Company registration number 08870198 (England and Wales)
CK CRICKET CLUB LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
CK CRICKET CLUB LIMITED
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 5
CK CRICKET CLUB LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
547,537
547,218
Current assets
Debtors
740
1,717
Cash at bank and in hand
7,339
2,343
8,079
4,060
Creditors: amounts falling due within one year
(185,251)
(162,644)
Net current liabilities
(177,172)
(158,584)
Total assets less current liabilities
370,365
388,634
Creditors: amounts falling due after more than one year
4
(134,519)
(144,519)
Net assets
235,846
244,115
Reserves
Other reserves
358,250
358,250
Income and expenditure account
(122,404)
(114,135)
Members' funds
235,846
244,115
In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true
For the financial 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.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
CK CRICKET CLUB LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
31 DECEMBER 2023
31 December 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 23 September 2024 and are signed on its behalf by:
Mr A J Williams
Director
Company registration number 08870198 (England and Wales)
CK CRICKET CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
1
Accounting policies
Company information
CK Cricket Club Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Ryeworth Fields, Greenway Lane, Charlton Kings, Cheltenham, Gloucestershire, England, GL52 6PN.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
1.2
Going concern
The company had net liabilities at the end of the year and is reliant on financial support from some of its associates and benefactors to enable it to continue to trade. These associates and benefactors provided time, on a voluntary basis, and the benefactors injected unsecured finance to help the company through a difficult initial period. The company has also received working capital funding from the cricket club that is the primary user of the company's facilities.true
The directors have assessed the financial support needed for at least twelve months from the date of approval of these financial statements, to include the funding of ongoing development work.
The company will continue to rely on the support of its associates and benefactors and the cricket club for both time and funding. These benefactors and the cricket club have indicated to the directors that the required level of support will be forthcoming, both in terms of not withdrawing their funding to the detriment of other unsecured creditors and by continuing to provide financial support in line with the company's operating forecasts for the foreseeable future.
On this basis the directors consider the company to be a going concern and have consequently prepared the financial statements accordingly.
1.3
Income and expenditure
Income and expenses are included in the financial statements as they become receivable or due.
Expenses include VAT where applicable as the company cannot reclaim it.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
10% on cost
Freehold land and buildings are not depreciated.
CK CRICKET CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
The company is exempt from corporation tax, it being a company not carrying on a business for the purposes of making a profit.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
4
4
3
Tangible fixed assets
Total
£
Cost
At 1 January 2023
538,910
Additions
11,052
At 31 December 2023
549,962
Depreciation and impairment
At 1 January 2023
1,200
Depreciation charged in the year
1,225
At 31 December 2023
2,425
Carrying amount
At 31 December 2023
547,537
At 31 December 2022
547,218
Last year c/fwd cost
Differs from this year b/fwd by
4
Creditors: amounts falling due after more than one year
2023
2022
£
£
Benefactor loans
117,019
117,019
EWCT
17,500
27,500
134,519
144,519
CK CRICKET CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
4
Creditors: amounts falling due after more than one year
(Continued)
- 5 -
In previous years, funding was injected by a group of benefactors to assist the company in its embryonic years. This funding is interest-free and unsecured. Whilst it is technically repayable on demand, only one individual benefactor has sought repayment of £1,000 and all the remaining benefactors have indicated to the directors that they will continue their support. The development of the clubhouse would not have been possible without this substantial and generous initial and ongoing financial support from this group of benefactors.
During a previous year, the company received a loan from the England and Wales Cricket Trust (EWCT) as part of the funding for the construction of the clubhouse. The loan is interest-free and unsecured. It is repayable over five years in equal quarterly instalments which commenced in November 2021.
5
Members' liability
The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.
6
Related Party Disclosures
Charlton Kings Cricket Club
An unincorporated association of which most of the directors are members
Charlton Kings Cricket Club has provided financial support in the form of donations and advances for working capital. The company has also paid bills on behalf of the related party. At 31 December 2023, the company owed £173,411 (2022: £151,411) to Charlton Kings Cricket Club. The advance is unsecured and interest-free with no date having been set for repayment.
A Williams & Co (Cheltenham) Limited
A company in which one of the directors is a director and major shareholder
In a previous period the related party advanced £40,487 to the company as working capital. This advance, which remained outstanding at the end of the period, is unsecured and interest-free. No date has been set for repayment, although the related party has confirmed that none of the advance will be withdrawn prior to 31 December 2024 and/or to the detriment of other unsecured creditors.