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REGISTERED NUMBER: 00316106 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 July 2024

for

Spalding Club,Limited

Spalding Club,Limited (Registered number: 00316106)

Contents of the Financial Statements
for the Year Ended 31 July 2024










Page

Company information 1

Chartered accountants' report 2

Statement of financial position 3 to 4

Notes to the financial statements 5 to 7


Spalding Club,Limited

Company Information
for the Year Ended 31 July 2024







Directors: D A Firth
J A Le Sage
A Stacey
P R Thomas
K S Crossett





Registered office: Broad Street
Spalding
Lincolnshire
PE11 1TB





Business address: 2 Broad Street
Spalding
Lincolnshire
PE11 1TB





Registered number: 00316106 (England and Wales)





Accountants: Moore Thompson
Bank House
Broad Street
Spalding
Lincolnshire
PE11 1TB

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Spalding Club,Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of financial position. Readers are cautioned that the Income statement and certain other primary statements and the Report of the directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Spalding Club,Limited for the year ended 31 July 2024 which comprise the Statement of income and retained earnings, Statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Spalding Club,Limited, as a body, in accordance with the terms of our engagement letter dated 16 August 2018. Our work has been undertaken solely to prepare for your approval the financial statements of Spalding Club,Limited and state those matters that we have agreed to state to the Board of Directors of Spalding Club,Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Spalding Club,Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Spalding Club,Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Spalding Club,Limited. You consider that Spalding Club,Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Spalding Club,Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Moore Thompson
Bank House
Broad Street
Spalding
Lincolnshire
PE11 1TB


25 October 2024

Spalding Club,Limited (Registered number: 00316106)

Statement of Financial Position
31 July 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 5 500,000 500,000

Current assets
Stocks 3,625 3,995
Debtors 6 - 10,323
Cash at bank and in hand 54,659 62,165
58,284 76,483
Creditors
Amounts falling due within one year 7 7,317 4,831
Net current assets 50,967 71,652
Total assets less current liabilities 550,967 571,652

Reserves
Revaluation reserve 480,385 480,385
Other reserves 16,597 16,597
Retained earnings 53,985 74,670
550,967 571,652

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

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.

Spalding Club,Limited (Registered number: 00316106)

Statement of Financial Position - continued
31 July 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 October 2024 and were signed on its behalf by:




D A Firth - Director



K S Crossett - Director


Spalding Club,Limited (Registered number: 00316106)

Notes to the Financial Statements
for the Year Ended 31 July 2024


1. Statutory information

Spalding Club,Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Other income
The club offers a monthly prize draw with the intention of raising funds for the club. There is a guaranteed level of prizes and therefore only the net increase is reflected in the financial statements. There are no other costs netted off.

Other similar draws are also recognised net of the costs of prizes as they also fund raising events, ring fenced so that the club can only gain funds.

Subscriptions are payable and recognised over the period of the membership year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not depreciated
Fixtures and fittings - 25% on a straight line basis

All fixed assets are initially recorded at cost.

From 1 August 2018, the directors have adopted a policy to write off fixed asset acquisitions in the year of purchase. This policy is not compliant with Section 1A of FRS102 or the Companies Act 2006, but in the opinion of the directors is necessary to show a true and fair view.

Freehold property is recorded at fair value and is valued by directors or members with the relevant experience, on an annual basis.

The residual value of the freehold property has been reviewed and as a result no depreciation is currently being charged. The property's residual value will be reviewed annually.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


Spalding Club,Limited (Registered number: 00316106)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024


3. Accounting policies - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial
liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

4. Employees and directors

The average number of employees during the year was 8 (2023 - 7 ) .

Spalding Club,Limited (Registered number: 00316106)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024


5. Tangible fixed assets
Fixtures
Freehold and
property fittings Totals
£    £    £   
Cost
At 1 August 2023
and 31 July 2024 500,000 24,427 524,427
Depreciation
At 1 August 2023
and 31 July 2024 - 24,427 24,427
Net book value
At 31 July 2024 500,000 - 500,000
At 31 July 2023 500,000 - 500,000

6. Debtors: amounts falling due within one year
2024 2023
£    £   
VAT - 3,570
Prepayments and accrued income - 6,753
- 10,323

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Trade creditors 1,210 1,239
Corporation tax 170 65
VAT 2,313 -
Other creditors 309 42
Accruals and deferred income 3,315 3,485
7,317 4,831