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Filleted

Registration number: 05594477

St.Clears Rugby Football Club Ltd

(A company limited by guarantee)

Annual Report and Unaudited Financial Statements

for the Year Ended 31 May 2024

 

St.Clears Rugby Football Club Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 8

 

St.Clears Rugby Football Club Ltd

Company Information

Directors

Mr I J Thomas

Mr P J Davies

Company secretary

Mr I J Thomas

Registered office

Oak Crest
Pwll Trap Road
St Clears
Carmarthenshire
SA33 4AJ

 

St.Clears Rugby Football Club Ltd

(Registration number: 05594477)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

139,323

155,403

Current assets

 

Stocks

6

4,890

4,412

Debtors

7

-

2,120

Cash at bank and in hand

 

53,213

46,265

 

58,103

52,797

Creditors: Amounts falling due within one year

8

(32,239)

(24,152)

Net current assets

 

25,864

28,645

Total assets less current liabilities

 

165,187

184,048

Creditors: Amounts falling due after more than one year

8

(87,854)

(102,606)

Net assets

 

77,333

81,442

Capital and reserves

 

Profit and loss account

77,333

81,442

Total equity

 

77,333

81,442

For the financial year ending 31 May 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 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 and the option not to file the Profit and Loss Account has been taken.

 

St.Clears Rugby Football Club Ltd

(Registration number: 05594477)
Balance Sheet as at 31 May 2024

Approved and authorised by the Board on 14 January 2025 and signed on its behalf by:
 

.........................................
Mr I J Thomas
Company secretary and director

   
     
 

St.Clears Rugby Football Club Ltd

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

1

General information

The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

The address of its registered office is:
Oak Crest
Pwll Trap Road
St Clears
Carmarthenshire
SA33 4AJ

These financial statements were authorised for issue by the Board on 14 January 2025.

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.

Going concern

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 sales/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.

Other grants

Capital grants are accounted for by creating a deferred grant liability in the Balance Sheet, and releasing the income to the Profit & Loss account in line with the depreciation released on the related asset(s).

Revenue grants are written off to the P&L in the year that the related revenue expenditure occurs.

 

St.Clears Rugby Football Club Ltd

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

Tangible assets

Tangible assets are stated in the balance sheet 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:

Asset class

Depreciation method and rate

Fixtures and Fittings

Straight line 15%/20%

Plant and Machinery

Straight line 20%

Tenants Improvements

Straight line 4%/10%/20%

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, 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.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

St.Clears Rugby Football Club Ltd

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

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Loss before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

24,855

27,191

 

St.Clears Rugby Football Club Ltd

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

5

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 June 2023

278,365

18,541

36,769

333,675

Additions

-

5,675

3,100

8,775

At 31 May 2024

278,365

24,216

39,869

342,450

Depreciation

At 1 June 2023

138,848

17,226

22,198

178,272

Charge for the year

17,306

2,083

5,466

24,855

At 31 May 2024

156,154

19,309

27,664

203,127

Carrying amount

At 31 May 2024

122,211

4,907

12,205

139,323

At 31 May 2023

139,517

1,315

14,571

155,403

Included within the net book value of land and buildings above is £122,211 (2023 - £139,517) in respect of freehold land and buildings.
 

6

Stocks

2024
£

2023
£

Other inventories

4,890

4,412

7

Debtors

2024
£

2023
£

Other debtors

-

2,120

-

2,120

 

St.Clears Rugby Football Club Ltd

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

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

9

2,774

2,707

Trade creditors

 

18,838

7,983

Taxation and social security

 

49

-

Other creditors

 

10,578

13,462

 

32,239

24,152

Due after one year

 

Loans and borrowings

9

20,415

25,756

Deferred income

 

67,439

76,850

 

87,854

102,606

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

20,415

25,756

Deferred income

 

67,439

76,850

 

87,854

102,606

9

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

20,415

25,756

2024
£

2023
£

Current loans and borrowings

Bank borrowings

2,774

2,707