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COMPANY REGISTRATION NUMBER: 01796080
St Annes ARLFC Ltd
Company Limited by Guarantee
Filleted Unaudited Financial Statements
30 June 2024
St Annes ARLFC Ltd
Company Limited by Guarantee
Statement of Financial Position
30 June 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
6
1,348,696
1,397,097
Current assets
Stocks
6,853
6,527
Debtors
7
1,076
2,089
Cash at bank and in hand
203,913
137,945
---------
---------
211,842
146,561
Creditors: amounts falling due within one year
8
88,910
59,167
---------
---------
Net current assets
122,932
87,394
------------
------------
Total assets less current liabilities
1,471,628
1,484,491
Creditors: amounts falling due after more than one year
9
8,167
14,583
------------
------------
Net assets
1,463,461
1,469,908
------------
------------
Capital and reserves
Revaluation reserve
1,159,100
1,159,100
Profit and loss account
304,361
310,808
------------
------------
Members funds
1,463,461
1,469,908
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 June 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
St Annes ARLFC Ltd
Company Limited by Guarantee
Statement of Financial Position (continued)
30 June 2024
These financial statements were approved by the board of directors and authorised for issue on 7 November 2024 , and are signed on behalf of the board by:
Mr P Green
Director
Company registration number: 01796080
St Annes ARLFC Ltd
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 30 June 2024
1. General information
The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is The Club House, Higginshaw Road, Oldham, Greater Manchester, OL1 3JY, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
All fixed assets are initially recorded at cost. Where there is a policy for revaluation then historical cost is adjusted based on the revalued amount with the difference being transferred to the revaluation reserve.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold Property
-
2% straight line
Plant & Machinery
-
25% reducing balance
Fixtures & Fittings
-
10% straight line
Office Equipment
-
25% reducing balance
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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
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.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Company limited by guarantee
As the company is Limited by Guarantee there are no shareholders and therefore a reconciliation of movements in shareholders funds is inappropriate.
5. Employee numbers
The average number of persons employed by the company during the year amounted to 10 (2023: 10 ).
6. Tangible assets
Land and buildings
Plant and machinery
Fixtures and fittings
Equipment
Total
£
£
£
£
£
Cost
At 1 July 2023
1,716,516
27,366
179,532
2,111
1,925,525
Additions
2,680
2,680
------------
--------
---------
-------
------------
At 30 June 2024
1,716,516
27,366
182,212
2,111
1,928,205
------------
--------
---------
-------
------------
Depreciation
At 1 July 2023
402,913
15,561
108,974
980
528,428
Charge for the year
34,326
2,952
13,520
283
51,081
------------
--------
---------
-------
------------
At 30 June 2024
437,239
18,513
122,494
1,263
579,509
------------
--------
---------
-------
------------
Carrying amount
At 30 June 2024
1,279,277
8,853
59,718
848
1,348,696
------------
--------
---------
-------
------------
At 30 June 2023
1,313,603
11,805
70,558
1,131
1,397,097
------------
--------
---------
-------
------------
Freehold land & property was revalued to current market value by Bennett Kaye, Chartered Valuation Surveyors on 9th August 2016.
7. Debtors
2024
2023
£
£
Other debtors
1,076
2,089
-------
-------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
7,000
7,000
Trade creditors
12,745
7,419
Social security and other taxes
15,526
9,340
Other creditors
53,639
35,408
--------
--------
88,910
59,167
--------
--------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
8,167
14,583
-------
--------
10. Directors' advances, credits and guarantees
There were no advances made to the directors during the year (2023: £nil).
11. Related party transactions
No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 8