REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
VALLEY SPORTS RUGBY ASSOCIATION |
FOOTBALL CLUB LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
VALLEY SPORTS RUGBY ASSOCIATION |
FOOTBALL CLUB LIMITED |
VALLEY SPORTS RUGBY ASSOCIATION |
FOOTBALL CLUB LIMITED (REGISTERED NUMBER: 02843062) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 31 December 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
VALLEY SPORTS RUGBY ASSOCIATION |
FOOTBALL CLUB LIMITED |
COMPANY INFORMATION |
for the year ended 31 December 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
and Registered Auditors |
3 & 4 Pegasus House |
Pegasus Court |
Olympus Avenue |
Warwick |
Warwickshire |
CV34 6LW |
VALLEY SPORTS RUGBY ASSOCIATION |
FOOTBALL CLUB LIMITED (REGISTERED NUMBER: 02843062) |
BALANCE SHEET |
31 December 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Revaluation reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
VALLEY SPORTS RUGBY ASSOCIATION |
FOOTBALL CLUB LIMITED (REGISTERED NUMBER: 02843062) |
BALANCE SHEET - continued |
31 December 2023 |
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. |
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 |
VALLEY SPORTS RUGBY ASSOCIATION |
FOOTBALL CLUB LIMITED (REGISTERED NUMBER: 02843062) |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 31 December 2023 |
1. | STATUTORY INFORMATION |
Valley Sports Rugby Association Football Club Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents net ticket sales and merchandising, excluding value added tax. |
Tangible assets |
Plant and machinery | - |
Medical Equipment | - |
Furniture & Equipment | - |
In the opinion of the Directors the carrying value of land and buildings is fairly stated. The Company had an option to purchase the site where the land and buildings are held and has exercised this option to purchase the freehold during the accounting period. |
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. |
VALLEY SPORTS RUGBY ASSOCIATION |
FOOTBALL CLUB LIMITED (REGISTERED NUMBER: 02843062) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 December 2023 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Freehold | Plant and | Medical | Furniture |
Property | machinery | Equipment | & Equipment | Totals |
£ | £ | £ | £ | £ |
COST OR VALUATION |
At 1 January 2023 |
Additions |
At 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
Cost or valuation at 31 December 2023 is represented by: |
Freehold | Plant and | Medical | Furniture |
Property | machinery | Equipment | & Equipment | Totals |
£ | £ | £ | £ | £ |
Valuation in 2006 | 1,256,133 | - | - | - | 1,256,133 |
Valuation in 2014 | (980,402 | ) | - | - | - | (980,402 | ) |
Valuation in 2016 | (10,000 | ) | - | - | - | (10,000 | ) |
Cost | 731,259 | 95,005 | 529 | 17,314 | 844,107 |
996,990 | 95,005 | 529 | 17,314 | 1,109,838 |
If Freehold land and buildings had not been revalued they would have been included at the following historical cost: |
2023 | 2022 |
£ | £ |
Cost | 731,259 | 731,259 |
Land and buildings were valued on a carrying value basis on 28 September 2015 by the Directors of the company . |
VALLEY SPORTS RUGBY ASSOCIATION |
FOOTBALL CLUB LIMITED (REGISTERED NUMBER: 02843062) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 December 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors | ( |
) |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Other creditors |
8. | ULTIMATE PARENT COMPANY |
The company is part of a Group of which the ultimate parent company is R.M.B. (Sports) Ltd who are incorporated and registered in England, company registration number 15354718. |