Bridgwater Sports Ground Ltd 00203097 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is the letting and management of its freehold sports field. Digita Accounts Production Advanced 6.30.9574.0 true true 00203097 2023-01-01 2023-12-31 00203097 2023-12-31 00203097 core:CurrentFinancialInstruments 2023-12-31 00203097 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 00203097 core:ProvisionsForImpairmentInvestments 2023-12-31 00203097 core:LandBuildings core:OwnedOrFreeholdAssets 2023-12-31 00203097 bus:SmallEntities 2023-01-01 2023-12-31 00203097 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 00203097 bus:FilletedAccounts 2023-01-01 2023-12-31 00203097 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 00203097 bus:RegisteredOffice 2023-01-01 2023-12-31 00203097 bus:Director2 2023-01-01 2023-12-31 00203097 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 00203097 countries:England 2023-01-01 2023-12-31 00203097 2022-12-31 00203097 core:CostValuation 2022-12-31 00203097 core:LandBuildings core:OwnedOrFreeholdAssets 2022-12-31 00203097 2022-01-01 2022-12-31 00203097 2022-12-31 00203097 core:CurrentFinancialInstruments 2022-12-31 00203097 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 00203097 core:LandBuildings core:OwnedOrFreeholdAssets 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 00203097

Bridgwater Sports Ground Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Bridgwater Sports Ground Ltd

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 6

 

Bridgwater Sports Ground Ltd

(Registration number: 00203097)
Statement of Financial Position as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

605

605

Investments

5

60,094

60,094

 

60,699

60,699

Current assets

 

Debtors

6

4,700

6,950

Cash at bank and in hand

 

17,481

15,583

 

22,181

22,533

Creditors: Amounts falling due within one year

7

(1,145)

(983)

Net current assets

 

21,036

21,550

Net assets

 

81,735

82,249

Capital and reserves

 

Called up share capital

500

500

Other reserves

9

52,000

52,000

Profit and loss account

29,235

29,749

Shareholders' funds

 

81,735

82,249

For the financial year ending 31 December 2023 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 29 November 2024 and signed on its behalf by:
 


Mr M P Moran
Director

 

Bridgwater Sports Ground Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
7 Castle Street
Bridgwater
Somerset
TA6 3DT

Principal activity

The principal activity of the company is the letting and management of its freehold sports field.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

 

Bridgwater Sports Ground Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

2

Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Impairment

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.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in the profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

 

Bridgwater Sports Ground Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

2

Accounting policies (continued)

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2022 - 7).

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 January 2023

605

605

At 31 December 2023

605

605

Depreciation

Carrying amount

At 31 December 2023

605

605

At 31 December 2022

605

605

5

Investments

Investments

£

Cost

At 1 January 2023

60,094

Impairment

At 31 December 2023

-

Carrying amount

At 31 December 2023

60,094

At 31 December 2022

60,094

 

Bridgwater Sports Ground Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

5

Investments (continued)

The company has made the following loans, which are repayable at a date to be agreed

2023
£

2022
£

Cricket pavilion

24,500

24,500

Artificial wicket

2,000

2,000

Safety netting

3,650

3,650

Indoor bowling rink

26,500

26,500

56,650

56,650

The company has also made the following loans, on which interest is not charged

2023
£

2022
£

Entrance and boundary wall

330

330

Car park and drive

2,614

2,614

Cricket extension

500

500

3,444

3,444

6

Debtors

2023
£

2022
£

Trade debtors

4,700

6,950

4,700

6,950

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Accruals and deferred income

1,145

983

8

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

 

Bridgwater Sports Ground Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

9

Other reserves

There has been no movement on other reserves during the year, the balance comprises the following items:

2023
£

2022
£

Re debentures redeemed

116

116

Re debentures surrendered

152

152

Transfer in 1982 re sale of land

51,731

51,731

Transfer in 1983 re sale of land

1

1

52,000

52,000