GCC Supporters Club Ltd 14928443 false 2023-06-12 2024-03-31 2024-03-31 The principal activity of the company is Is that of a cricket supporters club. Digita Accounts Production Advanced 6.30.9574.0 true true 14928443 2023-06-12 2024-03-31 14928443 2024-03-31 14928443 core:CurrentFinancialInstruments 2024-03-31 14928443 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 14928443 core:Non-currentFinancialInstruments 2024-03-31 14928443 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 14928443 bus:SmallEntities 2023-06-12 2024-03-31 14928443 bus:AuditExemptWithAccountantsReport 2023-06-12 2024-03-31 14928443 bus:FilletedAccounts 2023-06-12 2024-03-31 14928443 bus:SmallCompaniesRegimeForAccounts 2023-06-12 2024-03-31 14928443 bus:RegisteredOffice 2023-06-12 2024-03-31 14928443 bus:Director4 2023-06-12 2024-03-31 14928443 bus:PrivateLimitedCompanyLtd 2023-06-12 2024-03-31 14928443 countries:EnglandWales 2023-06-12 2024-03-31 iso4217:GBP xbrli:pure

Registration number: 14928443

GCC Supporters Club Ltd
Annual Report and
Unaudited Financial Statements

31 March 2024

 

GCC Supporters Club Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

GCC Supporters Club Ltd

Balance Sheet
31 March 2024

Note

2024
£

Current assets

 

Stocks

4

7,887

Debtors

5

10,560

Cash at bank and in hand

 

79,849

 

98,296

Creditors: Amounts falling due within one year

6

(93,043)

Total assets less current liabilities

 

5,253

Creditors: Amounts falling due after more than one year

6

(5,252)

Net assets

 

1

Capital and reserves

 

Called up share capital

1

Shareholders' funds

 

1

For the financial period from 12 June 2023 to 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the Company to obtain an audit of its accounts for the period 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 1 July 2024 and signed on its behalf by:
 

.........................................
Mr A Skinner
Director

Company Registration Number: 14928443

 

GCC Supporters Club Ltd

Notes to the Unaudited Financial Statements
Period from 12 June 2023 to 31 March 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:
Greenmount Cricket Club Brandlesholme Road
Greenmount
Bury
Lancashire
BL8 4DX
United Kingdom

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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 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 that future economic benefits will flow to the entity; and specific criteria have been met for each of the Company's activities.

Government grants

Government grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the relevant assets by equal annual instalments. Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

 

GCC Supporters Club Ltd

Notes to the Unaudited Financial Statements
Period from 12 June 2023 to 31 March 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

GCC Supporters Club Ltd

Notes to the Unaudited Financial Statements
Period from 12 June 2023 to 31 March 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the period, was 10.

4

Stocks

2024
£

Other inventories

7,887

5

Debtors

Current

2024
£

Trade debtors

10,560

 

10,560

 

GCC Supporters Club Ltd

Notes to the Unaudited Financial Statements
Period from 12 June 2023 to 31 March 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

Due within one year

 

Loans and borrowings

7

3,028

Trade creditors

 

6,257

Amounts owed to Group undertakings and undertakings in which the Company has a participating interest

47,964

Taxation and social security

 

16,600

Accruals and deferred income

 

17,166

Other creditors

 

2,028

 

93,043

Creditors: amounts falling due after more than one year

Note

2024
£

Due after one year

 

Loans and borrowings

7

5,252

7

Loans and borrowings

Non-current loans and borrowings

2024
£

Other borrowings

5,252

Current loans and borrowings

2024
£

Other borrowings

3,028