Company registration number 08967289 (England and Wales)
METROPOLITAN POLICE (IMBER COURT) SPORTS CLUB
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
METROPOLITAN POLICE (IMBER COURT) SPORTS CLUB
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 8
METROPOLITAN POLICE (IMBER COURT) SPORTS CLUB
BALANCE SHEET
AS AT
30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
5
396,671
306,061
Current assets
Stocks
19,079
17,977
Debtors
6
458,114
233,510
Cash at bank and in hand
344,926
272,572
822,119
524,059
Creditors: amounts falling due within one year
7
(1,260,298)
(534,050)
Net current liabilities
(438,179)
(9,991)
Total assets less current liabilities
(41,508)
296,070
Creditors: amounts falling due after more than one year
8
(15,833)
(25,833)
Net (liabilities)/assets
(57,341)
270,237
Reserves
Income and expenditure account
(57,341)
270,237

The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 24 July 2024 and are signed on its behalf by:
C W Holding
G W Smith
Director
Director
Company Registration No. 08967289
METROPOLITAN POLICE (IMBER COURT) SPORTS CLUB
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024
30 April 2024
- 2 -
1
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

2
Accounting policies
Company information

Metropolitan Police (Imber Court) Sports Club is a private company limited by guarantee incorporated in England and Wales. The registered office is Ember Lane, East Molesey, Surrey, KT8 0BT.

2.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

2.2
Going concern

The accounts are prepared on the Going Concern Basis on the assumption that the company will continue to trade profitably and generate sufficient cash flows to pay liabilities as they fall due.

 

As explained in note 4 to the accounts, during the year the landlord of the company applied for separate rating assessments on the site occupied by the company for the last six years. This has resulted in ratings assessments being raised on the company of approximately £1 million and an exceptional charge to the company of £384,000.

 

The company is currently in negotiations with the local council around reliefs for not-for-profit organisations and potential COVID reliefs. Should these reliefs not be available then the directors will negotiate a payment plan to settle the outstanding rates liability due to the local council over a period of years.

 

Should the company be unsuccessful in these negotiations then these events could indicate a material uncertainty that may cast doubt on the company's ability to continue as a going concern.

2.3
Income and expenditure

Income and expenses are included in the financial statements as they become receivable or due.

 

Income represents amounts receivable for membership subscriptions, pitch hire, bar and catering sales, gaming machine takings and members' functions stated after trade discounts, other sales taxes and net of VAT. Subscriptions are recognised in the profit and loss account evenly over the membership period.

 

Grants receivable are shown as deductions against the relevant expense.

METROPOLITAN POLICE (IMBER COURT) SPORTS CLUB
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
2
Accounting policies
(Continued)
- 3 -
2.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Swimming pool
Straight line over the lease term
Clubhouse improvements
Straight line over the lease term
Grounds equipment
15% on a reducing balance basis
Clubhouse fittings
Straight line over the lease term
Computer equipment
25% on a straight line basis
Gym equipment
20% on a straight line basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to surplus or deficit.

2.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

2.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

2.7
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

2.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

METROPOLITAN POLICE (IMBER COURT) SPORTS CLUB
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
2
Accounting policies
(Continued)
- 4 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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 company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

METROPOLITAN POLICE (IMBER COURT) SPORTS CLUB
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
2
Accounting policies
(Continued)
- 5 -
2.9
Taxation

Corporation tax is charged on the company's non-mutual trading profits. Tax is payable on any interest income received.

2.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

 

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

2.11
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2.12
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
69
62
4
Exceptional item
2024
2023
£
£
Expenditure
Rates assessment
384,000
-

During the year, the landlord of the Imber Court site applied for separate rates assessments of the site for the previous 6 years and the local council issued rates demands direct to the company. As a result the company has received rates assessments of approximately £1,000,000 which exceeded provisions made for rates costs by £384,000.

METROPOLITAN POLICE (IMBER COURT) SPORTS CLUB
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 6 -
5
Tangible fixed assets
Swimming pool
Clubhouse improvements
Grounds equipment
Clubhouse fittings
Computer equipment
Gym equipment
Total
£
£
£
£
£
£
£
Cost
At 1 May 2023
208,305
159,549
39,972
318,719
35,802
27,029
789,376
Additions
24,580
52,895
6,998
23,157
-
0
-
0
107,630
At 30 April 2024
232,885
212,444
46,970
341,876
35,802
27,029
897,006
Depreciation and impairment
At 1 May 2023
153,489
50,878
20,400
201,169
34,145
23,234
483,315
Depreciation charged in the year
3,259
3,915
3,503
4,653
641
1,049
17,020
At 30 April 2024
156,748
54,793
23,903
205,822
34,786
24,283
500,335
Carrying amount
At 30 April 2024
76,137
157,651
23,067
136,054
1,016
2,746
396,671
At 30 April 2023
54,816
108,671
19,572
117,550
1,657
3,795
306,061
METROPOLITAN POLICE (IMBER COURT) SPORTS CLUB
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 7 -
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
63,402
62,928
Other debtors
394,712
170,582
458,114
233,510
7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
10,000
10,000
Trade creditors
160,606
164,890
Other taxation and social security
46,219
39,989
Other creditors
1,043,473
319,171
1,260,298
534,050
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
15,833
25,833
9
Operating lease commitments
Lessee

Operating lease payments represent rentals payable by the company.

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
Within one year
33,581
30,921
Between two and five years
127,788
95,008
In over five years
491,424
505,850
652,793
631,779
10
Members' liability

The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.

METROPOLITAN POLICE (IMBER COURT) SPORTS CLUB
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 8 -
11
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Robert Moore
Statutory Auditor:
Bright Grahame Murray
Date of audit report:
24 July 2024
2024-04-302023-05-01falsefalsefalse24 July 2024CCH SoftwareCCH Accounts Production 2024.301No description of principal activityS P AshwinC W HoldingG W SmithG BoltonD J AshL K YarwoodMrs Nicola ArrowsmithMrs Sian Thomas089672892023-05-012024-04-30089672892024-04-30089672892023-04-3008967289core:LandBuildingscore:OwnedOrFreeholdAssets2024-04-3008967289core:LandBuildingscore:LeasedAssetsHeldAsLessee2024-04-3008967289core:PlantMachinery2024-04-3008967289core:FurnitureFittings2024-04-3008967289core:ComputerEquipment2024-04-3008967289core:MotorVehicles2024-04-3008967289core:LandBuildingscore:OwnedOrFreeholdAssets2023-04-3008967289core:LandBuildingscore:LeasedAssetsHeldAsLessee2023-04-3008967289core:PlantMachinery2023-04-3008967289core:FurnitureFittings2023-04-3008967289core:ComputerEquipment2023-04-3008967289core:MotorVehicles2023-04-3008967289core:CurrentFinancialInstruments2024-04-3008967289core:CurrentFinancialInstruments2023-04-3008967289core:Non-currentFinancialInstruments2024-04-3008967289core:Non-currentFinancialInstruments2023-04-3008967289core:RetainedEarningsAccumulatedLosses2024-04-3008967289core:RetainedEarningsAccumulatedLosses2023-04-3008967289bus:Director22023-05-012024-04-3008967289bus:Director32023-05-012024-04-3008967289core:LandBuildingscore:OwnedOrFreeholdAssets2023-05-012024-04-3008967289core:LandBuildingscore:LeasedAssetsHeldAsLessee2023-05-012024-04-3008967289core:PlantMachinery2023-05-012024-04-3008967289core:FurnitureFittings2023-05-012024-04-3008967289core:ComputerEquipment2023-05-012024-04-3008967289core:MotorVehicles2023-05-012024-04-30089672892022-05-012023-04-3008967289core:LandBuildingscore:OwnedOrFreeholdAssets2023-04-3008967289core:LandBuildingscore:LeasedAssetsHeldAsLessee2023-04-3008967289core:PlantMachinery2023-04-3008967289core:FurnitureFittings2023-04-3008967289core:ComputerEquipment2023-04-3008967289core:MotorVehicles2023-04-30089672892023-04-3008967289core:WithinOneYear2024-04-3008967289core:WithinOneYear2023-04-3008967289core:BetweenTwoFiveYears2024-04-3008967289core:BetweenTwoFiveYears2023-04-3008967289core:MoreThanFiveYears2024-04-3008967289core:MoreThanFiveYears2023-04-3008967289bus:CompanyLimitedByGuarantee2023-05-012024-04-3008967289bus:FRS1022023-05-012024-04-3008967289bus:Audited2023-05-012024-04-3008967289bus:Director12023-05-012024-04-3008967289bus:Director42023-05-012024-04-3008967289bus:Director52023-05-012024-04-3008967289bus:Director62023-05-012024-04-3008967289bus:Director72023-05-012024-04-3008967289bus:Director82023-05-012024-04-3008967289bus:SmallCompaniesRegimeForAccounts2023-05-012024-04-3008967289bus:FullAccounts2023-05-012024-04-30xbrli:purexbrli:sharesiso4217:GBP