REGISTERED NUMBER: |
CLWB RYGBI YSTRADGYNLAIS LTD |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2024 |
REGISTERED NUMBER: |
CLWB RYGBI YSTRADGYNLAIS LTD |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2024 |
CLWB RYGBI YSTRADGYNLAIS LTD (REGISTERED NUMBER: 10943649) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
CLWB RYGBI YSTRADGYNLAIS LTD |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 JULY 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
3 New Mill Court |
Enterprise Park |
Swansea |
SA7 9FG |
CLWB RYGBI YSTRADGYNLAIS LTD (REGISTERED NUMBER: 10943649) |
BALANCE SHEET |
31 JULY 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
Investments | 6 |
CURRENT ASSETS |
Stocks |
Debtors | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
NET ASSETS |
RESERVES |
Revaluation reserve | 10 |
Income and expenditure account | 10 |
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 surplus or deficit 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. |
CLWB RYGBI YSTRADGYNLAIS LTD (REGISTERED NUMBER: 10943649) |
BALANCE SHEET - continued |
31 JULY 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
CLWB RYGBI YSTRADGYNLAIS LTD (REGISTERED NUMBER: 10943649) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2024 |
1. | STATUTORY INFORMATION |
Clwb Rygbi Ystradgynlais Ltd is a |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Bar Trading Income |
The Club's trading income represents net sales of goods, excluding value added tax |
Other Income |
The Club receives income from activities relating to the provision of the rugby football union, which includes grants from its governing body. |
Tangible fixed assets |
Freehold property | - |
Investment property | - |
Improvements to freehold property | - |
Plant and machinery | - |
Fixtures & Equipment | - |
Computer equipment | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
The company is a registered CASC during the reporting period,and subject to income from it's trading activities being below the required threshold, exemption from corporation tax and capital gains tax can be taken advantage of. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to surplus or deficit on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
CLWB RYGBI YSTRADGYNLAIS LTD (REGISTERED NUMBER: 10943649) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2024 |
3. | ACCOUNTING POLICIES - continued |
Capital grants |
Capital grants relating to tangible fixed assets are treated as deferred income and released to the profit and loss account over the expected useful economic life of the asset concerned. Other grants are credited to the profit and loss account as related expenditure is incurred. |
Government grants |
Government grants are recognised at the fair value of the amounts received when there is reasonable assurance the company will comply with the conditions attaching to them. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
5. | TANGIBLE FIXED ASSETS |
Improvements |
to |
Freehold | Investment | freehold |
property | property | property |
£ | £ | £ |
COST |
At 1 August 2023 |
Additions |
At 31 July 2024 |
DEPRECIATION |
At 1 August 2023 |
Charge for year |
At 31 July 2024 |
NET BOOK VALUE |
At 31 July 2024 |
At 31 July 2023 |
CLWB RYGBI YSTRADGYNLAIS LTD (REGISTERED NUMBER: 10943649) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2024 |
5. | TANGIBLE FIXED ASSETS - continued |
Plant and | Fixtures | Computer |
machinery | & Equipment | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 August 2023 |
Additions |
At 31 July 2024 |
DEPRECIATION |
At 1 August 2023 |
Charge for year |
At 31 July 2024 |
NET BOOK VALUE |
At 31 July 2024 |
At 31 July 2023 |
6. | FIXED ASSET INVESTMENTS |
Investments (neither listed nor unlisted) were as follows: |
2024 | 2023 |
£ | £ |
WRU debentures cost | 4,000 | 4,000 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Wages | 931 | 812 |
Social security and other taxes |
VAT | 6,352 | 6,806 |
Other creditors |
Players tour | - | 1,440 |
Accruals and deferred income |
Accrued expenses |
Deferred WRU grants |
CLWB RYGBI YSTRADGYNLAIS LTD (REGISTERED NUMBER: 10943649) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2024 |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans - 1-2 years |
Deferred WRU grants |
10. | RESERVES |
Income |
and |
expenditure | Revaluation |
account | reserve | Totals |
£ | £ | £ |
At 1 August 2023 | 497,760 |
Deficit for the year | ( |
) | ( |
) |
Depreciation on revaluation | - | (7,387 | ) | (7,387 | ) |
At 31 July 2024 | 475,080 |
11. | CONTINGENT LIABILITIES |
The company is registered as a Community Amateur Sports Club (CASC), and as long as qualifying conditions are met, can take advantage of certain tax exemptions and a reduction in business rates. |
During the year the clubs level of income from non-members exceeded the CASC income threshold limit. |
The committee have reviewed and addressed the position and have put in place measures to ensure compliance with CASC eligibility, and on that basis no adjustments have been included in the accounts should the company fail to meet CASC status. |
12. | OTHER FINANCIAL COMMITMENTS |
The company had total financial commitments on 31 July 2024 of £4,865 (31July 2023; £6,325). |
13. | LIMITED BY GUARANTEE |
The company is limited by guarantee and does not have a share capital. In the event of winding up, the members are liable to contribute £1 each. |