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Registration number: 07139260

Liskeard and Looe RFC Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 1 May 2024

 

Liskeard and Looe RFC Limited

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Profit and Loss Account

4

Statement of Comprehensive Income

5

Balance Sheet

6

Statement of Changes in Equity

7

Notes to the Unaudited Financial Statements

8 to 10

 

Liskeard and Looe RFC Limited

Company Information

Directors

Mrs Susan Hannah

Anthony Reginald Knightsbridge

Mr Alfred Wesley Pound

Mr William Austen Chapman

Timothy Michael Mander

Mr Barry James Numford

Registered office

Treworrick Farm
St Cleer
Liskeard
Cornwall
PL14 6EG

Accountants

Mr Nigel Leek FCA
Chartered Accountant11 Walnut Road
Mere
Wiltshire
BA12 6FG

 

Liskeard and Looe RFC Limited

Directors' Report for the Year Ended 1 May 2024

The directors present their report and the financial statements for the year ended 1 May 2024.

Directors of the company

The directors who held office during the year were as follows:

Mrs Susan Hannah

Anthony Reginald Knightsbridge

Mr Alfred Wesley Pound

Mr William Austen Chapman

Timothy Michael Mander

Mr Barry James Numford

Principal activity

The principal activity of the company is Rugby Club

Going concern

The Directors are confident that the Company is a going concern.

Small companies provision statement

This report has 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.

Approved and authorised by the Board on 6 January 2025 and signed on its behalf by:
 

.........................................
Mrs Susan Hannah
Director

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Liskeard and Looe RFC Limited
for the Year Ended 1 May 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Liskeard and Looe RFC Limited for the year ended 1 May 2024 as set out on pages 4 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Liskeard and Looe RFC Limited, as a body, in accordance with the terms of our engagement letter dated 27 April 2015. Our work has been undertaken solely to prepare for your approval the accounts of Liskeard and Looe RFC Limited and state those matters that we have agreed to state to the Board of Directors of Liskeard and Looe RFC Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Liskeard and Looe RFC Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Liskeard and Looe RFC Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Liskeard and Looe RFC Limited. You consider that Liskeard and Looe RFC Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Liskeard and Looe RFC Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Mr Nigel Leek FCA
Chartered Accountant
11 Walnut Road
Mere
Wiltshire
BA12 6FG

6 January 2025

 

Liskeard and Looe RFC Limited

Profit and Loss Account for the Year Ended 1 May 2024

Note

2024
£

2023
£

Turnover

 

47,121

45,387

Gross profit

 

47,121

45,387

Administrative expenses

 

(59,711)

(34,246)

Other operating income

 

727

368

Operating (loss)/profit

 

(11,863)

11,509

(Loss)/profit before tax

4

(11,863)

11,509

Tax on (loss)/profit

 

-

(1,091)

(Loss)/profit for the financial year

 

(11,863)

10,418

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Liskeard and Looe RFC Limited

Statement of Comprehensive Income for the Year Ended 1 May 2024

2024
£

2023
£

(Loss)/profit for the year

(11,863)

10,418

Total comprehensive income for the year

(11,863)

10,418

 

Liskeard and Looe RFC Limited

(Registration number: 07139260)
Balance Sheet as at 1 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

1,425

1,918

Current assets

 

Cash at bank and in hand

 

52,110

64,170

Creditors: Amounts falling due within one year

7

(1,018)

(1,708)

Net current assets

 

51,092

62,462

Net assets

 

52,517

64,380

Capital and reserves

 

Other reserves

6,816

6,816

Retained earnings

45,701

57,564

Shareholders' funds

 

52,517

64,380

For the financial year ending 1 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 provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the Board on 6 January 2025 and signed on its behalf by:
 

.........................................
Mrs Susan Hannah
Director

 

Liskeard and Looe RFC Limited

Statement of Changes in Equity for the Year Ended 1 May 2024

Other reserves
£

Retained earnings
£

Total
£

At 2 May 2023

6,816

57,564

64,380

Loss for the year

-

(11,863)

(11,863)

At 1 May 2024

6,816

45,701

52,517

Other reserves
£

Retained earnings
£

Total
£

At 2 May 2022

6,816

47,146

53,962

Profit for the year

-

10,418

10,418

At 1 May 2023

6,816

57,564

64,380

 

Liskeard and Looe RFC Limited

Notes to the Unaudited Financial Statements for the Year Ended 1 May 2024

1

General information

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

The address of its registered office is:
Treworrick Farm
St Cleer
Liskeard
Cornwall
PL14 6EG

These financial statements were authorised for issue by the Board on 6 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.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Liskeard and Looe RFC Limited

Notes to the Unaudited Financial Statements for the Year Ended 1 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

Plant and Machinery

25% straight line

Fixtures and Fittings

10% straight line

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.

Trade 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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2023 - 6).

4

Loss/profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

493

513

 

Liskeard and Looe RFC Limited

Notes to the Unaudited Financial Statements for the Year Ended 1 May 2024

5

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 2 May 2023

4,500

3,347

7,847

Disposals

-

(2,780)

(2,780)

At 1 May 2024

4,500

567

5,067

Depreciation

At 2 May 2023

2,625

3,304

5,929

Charge for the year

450

43

493

Eliminated on disposal

-

(2,780)

(2,780)

At 1 May 2024

3,075

567

3,642

Carrying amount

At 1 May 2024

1,425

-

1,425

At 1 May 2023

1,875

43

1,918

6

Debtors

Current

2024
£

2023
£

 

-

-

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

-

1,091

Accruals and deferred income

1,017

616

Other creditors

1

1

1,018

1,708

8

Share capital