Company registration number 04170382 (England and Wales)
BUILTH WELLS RUGBY FOOTBALL CLUB LIMITED
Unaudited Financial Statements
for the Year Ended 31 May 2024
BUILTH WELLS RUGBY FOOTBALL CLUB LIMITED
BALANCE SHEET
AS AT 31 MAY 2024
31 May 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
156,504
167,963
Current assets
Stocks
11,266
9,330
Debtors
4
31,428
20,524
Cash at bank and in hand
35,410
30,068
78,104
59,922
Creditors: amounts falling due within one year
5
(20,115)
(8,851)
Net current assets
57,989
51,071
Total assets less current liabilities
214,493
219,034
Creditors: amounts falling due after more than one year
6
(6,748)
(8,435)
Net assets
207,745
210,599
Capital and reserves
Called up share capital
2
2
Other reserves
57,036
57,036
Profit and loss reserves
150,707
153,561
Total equity
207,745
210,599

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 May 2024 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.

BUILTH WELLS RUGBY FOOTBALL CLUB LIMITED
BALANCE SHEET
AS AT 31 MAY 2024
31 May 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 1 November 2024 and are signed on its behalf by:
Mr D M Morgan
Mr M V Davies
Director
Director
Mr N G Taylor
Director
Company registration number 04170382 (England and Wales)
BUILTH WELLS RUGBY FOOTBALL CLUB LIMITED
Notes to the Financial Statements
For the Year Ended 31 May 2024
- 3 -
1
Accounting policies
Company information

Builth Wells Rugby Football Club Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Club House, 2 Market Street, Builth Wells, Powys, LD2 3AG.

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 £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

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 Turnover when:

The amount of Turnover 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.

1.3
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:

Freehold land and buildings
2% on cost
Plant and equipment
20% on reducing balance
Fixtures and fittings
20% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

BUILTH WELLS RUGBY FOOTBALL CLUB LIMITED
Notes to the Financial Statements
For the Year Ended 31 May 2024
1
Accounting policies
- 4 -

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are recognised at transaction price.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised at transaction price.

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

BUILTH WELLS RUGBY FOOTBALL CLUB LIMITED
Notes to the Financial Statements
For the Year Ended 31 May 2024
1
Accounting policies
- 5 -
1.9
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
6
6
3
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Fixtures and fittings
Total
£
£
£
£
Cost
At 1 June 2023
187,289
106,550
62,446
356,285
Disposals
-
0
-
0
(791)
(791)
At 31 May 2024
187,289
106,550
61,655
355,494
Depreciation and impairment
At 1 June 2023
64,810
81,223
42,289
188,322
Depreciation charged in the year
2,946
5,066
3,404
11,416
Eliminated in respect of disposals
-
0
-
0
(748)
(748)
At 31 May 2024
67,756
86,289
44,945
198,990
Carrying amount
At 31 May 2024
119,533
20,261
16,710
156,504
At 31 May 2023
122,479
25,327
20,157
167,963
BUILTH WELLS RUGBY FOOTBALL CLUB LIMITED
Notes to the Financial Statements
For the Year Ended 31 May 2024
- 6 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
4,748
1,701
Other debtors
25,465
18,242
Prepayments and accrued income
1,215
581
31,428
20,524
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
5,153
16
Taxation and social security
647
1,010
Accruals and deferred income
14,315
7,825
20,115
8,851
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
6,748
8,435
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