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Registration number: 10571407

Lillycombe Sporting Club Limited

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

Lillycombe Sporting Club Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 3

 

Lillycombe Sporting Club Limited

(Registration number: 10571407)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

6,099

7,623

Current assets

 

Debtors

61,916

-

Cash at bank and in hand

 

114,709

7,564

 

176,625

7,564

Creditors: Amounts falling due within one year

 

(986,487)

(569,280)

Net current liabilities

 

(809,862)

(561,716)

Net liabilities

 

(803,763)

(554,093)

Capital and reserves

 

Profit and loss account

(803,763)

(554,093)

Shareholders' deficit

 

(803,763)

(554,093)

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 11 October 2024 and signed on its behalf by:
 

Mrs J M Martin

Director

 

Lillycombe Sporting Club Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital incorporated in England and Wales.

The address of its registered office is:
Lillycombe Estate Office
Porlock
Minehead
Somerset
TA24 8JP

2

Accounting policies

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The company is reliant upon the support of its members.

The members have given assurance they will continue to support the club and therefore the financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable the future economic benefits will flow into the entity, and specific criteria have been met for each of the company activities.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

20% reducing balance

Plant and Machinery

20% reducing balance

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 26 (2023 - 10).

 

Lillycombe Sporting Club Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

4

Tangible assets

Total
£

Cost or valuation

At 1 February 2023

16,691

At 31 January 2024

16,691

Depreciation

At 1 February 2023

9,067

Charge for the year

1,525

At 31 January 2024

10,592

Carrying amount

At 31 January 2024

6,099

At 31 January 2023

7,623