REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
WALTON SPORTING CLUB LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
WALTON SPORTING CLUB LIMITED |
WALTON SPORTING CLUB LIMITED (REGISTERED NUMBER: 14155609) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
WALTON SPORTING CLUB LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Dean House |
94 Whiteladies Road |
Clifton |
Bristol |
BS8 2QX |
WALTON SPORTING CLUB LIMITED (REGISTERED NUMBER: 14155609) |
BALANCE SHEET |
31 MARCH 2024 |
31.3.24 | 31.3.23 |
as restated |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
RESERVES |
Income and expenditure account | 6 | 11,411 |
The director acknowledges his 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. |
In accordance with Section 444 of the Companies Act 2006, the Income and Expenditure Account has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
WALTON SPORTING CLUB LIMITED (REGISTERED NUMBER: 14155609) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
1. | STATUTORY INFORMATION |
Walton Sporting Club Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
The company operates as a members club its objects being to promote the interests of shooting, maintain and uphold the best interests of sportsmanship in shooting and provide social and other amenities for its members without making a profit. |
All income must be applied in promoting its objects. No dividends may be paid or capital returned to members. On a winding up all assets which would otherwise be available to its members generally must be transferred to a body with similar objects or consist of the promotion of charity and anything incidental or conductive to this. The liability of each member is limited to one pound.. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The ability to continue in business is dependent on the willingness of the directors to continue to extend finance to the company which he is willing and able to do and hs indicated that they he continue to do so for a period of at least 12 months from the date of signature of these financial statements. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Financial instruments |
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors. |
Short term debtors are measured at transaction price less any impairment. |
Short term creditors are measured at transaction price. |
Cash is represented by deposits with financial institutions repayable without penalty on notice of not more than 24 hours. |
Other financial liabilities, including borrowings are initially measured at fair value and subsequently measured at amortised cost using the effective interest rate method, with interest expense recognised on an effective yield basis. |
Taxation |
As a members club established by its members for their own social and recreational activities it is not liable to corporation tax on trading income arising from surpluses arising from transactions with members. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
WALTON SPORTING CLUB LIMITED (REGISTERED NUMBER: 14155609) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
as restated |
£ | £ |
Trade debtors |
Prepayments and accrued income |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
as restated |
£ | £ |
Social security and other taxes |
Directors' loan accounts |
Accruals and deferred income |
6. | RESERVES |
Income |
and |
expenditure |
account |
£ |
At 1 April 2023 | ( |
) |
Prior year adjustment |
Deficit for the year | ( |
) |
At 31 March 2024 |
7. | RELATED PARTY DISCLOSURES |
At the year end the company owed £20,345 (£10,938 : 2023) to the Director, the loan is unsecured, interest free and repayable on demand. |