Company registration number 01068661 (England and Wales)
LEICESTER INDOOR BOWLS AND SOCIAL CLUB LIMITED
(A COMPANY LIMITED BY GUARANTEE)
ANNUAL REPORT AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
LEICESTER INDOOR BOWLS AND SOCIAL CLUB LIMITED
(A COMPANY LIMITED BY GUARANTEE)
COMPANY INFORMATION
Council of Management
J Irons
S Charlesworth
T Biggadike
A Evans
J Herbert
N Oldman
Secretary
T Biggadike
Company number
01068661
Registered office
80 Slater Street
Leicester
LE3 5AS
Auditor
Newby Castleman LLP
West Walk Building
110 Regent Road
Leicester
LE1 7LT
LEICESTER INDOOR BOWLS AND SOCIAL CLUB LIMITED
(A COMPANY LIMITED BY GUARANTEE)
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
LEICESTER INDOOR BOWLS AND SOCIAL CLUB LIMITED
(A COMPANY LIMITED BY GUARANTEE)
BALANCE SHEET
AS AT
30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
415,767
401,244
Investments
5
461
331
416,228
401,575
Current assets
Stocks
10,320
9,815
Debtors
6
8,284
3,329
Cash at bank and in hand
125,422
162,909
144,026
176,053
Creditors: amounts falling due within one year
7
(15,033)
(30,779)
Net current assets
128,993
145,274
Total assets less current liabilities
545,221
546,849
Reserves
Income and expenditure account
545,221
546,849

The director of the company has elected not to include a copy of the income and expenditure account within the financial statements.true

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

The financial statements were approved and signed by the Council of Management and authorised for issue on 14 October 2024
S Charlesworth
T Biggadike
Director
Secretary
Company Registration No. 01068661
LEICESTER INDOOR BOWLS AND SOCIAL CLUB LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 2 -
1
Accounting policies
Company information

Leicester Indoor Bowls and Social Club Limited is a private company limited by guarantee incorporated in England and Wales. The address of the registered office and place of business, which are the same, is given in the company information page of these financial statements.

1.1
Basis of preparation

These financial statements have been prepared in accordance with applicable accounting standards including 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 valuation of certain financial instruments at fair value. The principal accounting policies adopted are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

1.2
Income and expenditure

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and trade discounts.

 

Green fees are received and recognised on the date that the member plays.

 

Annual subscriptions are recognised in the period to which the subscriptions relate.

 

Bar income is recognised at the point of sale.

 

Shop income is recognised at the point of sale.

 

Catering income is recognised in line with the provision of catering services.

 

Fundraising income is recognised at the point of receipt.

 

Entrance fees are recognised at the point of sale.

 

Locker fees are recognised at the point of sale.

 

Gaming machine receipts are recognised at the point of receipt.

 

Sponsorship income is recognised in the period to which the sponsorship relates.

1.3
Tangible fixed assets

Tangible fixed assets are measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Land and buildings Freehold
No depreciation
Greens
8 years
Fixtures and fittings
10 years
LEICESTER INDOOR BOWLS AND SOCIAL CLUB LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 3 -

Freehold land is not depreciated. The estimated residual value of freehold buildings is such that their depreciable amount is insignificant. Accordingly, no depreciation is charged on freehold buildings.

1.4
Fixed asset investments

Listed investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in profit or loss. Transaction costs are expensed to profit or loss as incurred.

1.5
Stocks

Stocks are valued by independent professional stocktakers and are stated at the lower of cost and estimated selling price.

1.6
Financial instruments

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

Debtors and creditors with no stated interest rate and receivable or payable within one year are measured at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

1.7
Employee benefits

When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

1.8
Retirement benefits

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

2
Employees and management

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

2024
2023
Number
Number
Total
13
13
3
Taxation

The company is a CASC and is claiming exemption from tax on its income.

LEICESTER INDOOR BOWLS AND SOCIAL CLUB LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 4 -
4
Tangible fixed assets
Land and buildings Freehold
Greens
Fixtures and fittings
Total
£
£
£
£
Cost
At 1 May 2023
550,921
112,762
250,500
914,183
Additions
17,075
-
0
9,809
26,884
Disposals
-
0
-
0
(3,822)
(3,822)
At 30 April 2024
567,996
112,762
256,487
937,245
Depreciation and impairment
At 1 May 2023
206,708
111,427
194,804
512,939
Depreciation charged in the year
-
0
1,144
11,115
12,259
Eliminated in respect of disposals
-
0
-
0
(3,720)
(3,720)
At 30 April 2024
206,708
112,571
202,199
521,478
Carrying amount
At 30 April 2024
361,288
191
54,288
415,767
At 30 April 2023
344,213
1,335
55,696
401,244
5
Fixed asset investments
2024
2023
£
£
Investments
461
331
Movements in fixed asset investments
Investments other than loans
£
Cost or valuation
At 1 May 2023
331
Valuation changes
130
At 30 April 2024
461
Carrying amount
At 30 April 2024
461
At 30 April 2023
331
LEICESTER INDOOR BOWLS AND SOCIAL CLUB LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 5 -
6
Debtors
2024
2023
Amounts falling due within one year
£
£
Other debtors
1,949
-
0
Prepayments and accrued income
6,335
3,329
8,284
3,329
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
218
1,205
Taxation and social security
-
0
3,883
Other creditors
150
13,300
Accruals and deferred income
14,665
12,391
15,033
30,779
8
Members' liability

The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.

9
Audit report information

As the profit and loss account has been omitted from the filing copy of the financial statements the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Paul Barnett FCCA
Statutory Auditor:
Newby Castleman LLP
Date of audit report:
15 October 2024
10
Related party transactions

Included within other creditors is £Nil (2023 - £13,000) of debentures issued to members of the club. The debentures were renewable each year and paid an interest rate of 0.9% per annum.

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