The company is a wholly-owned trading subsidiary of Clevedon Rugby Football Club Limited, a Co-operative Society registered under the Co-operative and Community Benefit Societies Act 2014 (Registered no. IP28568R)
During the period the company paid rent to its Parent Company to reflect the shared use of the bar and clubhouse at Coleridge Vale Playing Fields, in line with the terms of its resource sharing agreement. Rents paid amounted to £6,000 in the period (2023 - £6,000) and will continue to be charged at £1,500 per quarter.
Under the terms of the resource sharing agreement the company also paid £11,200 (2023 - £10,250) for the right to use the company's branding, representing 5% of the company's gross turnover and is an annual, recurring charge.
Finally the subsidiary also made a voluntary donation equal to all of it's trading profits to the company in the amount of £31,938 (2023 - £34,564).
As at the balance sheet date the company owed Clevedon Rugby Football Club Limited £67,907 (2023 - £77,826) by way of an intercompany account. No interest is being charged on this balance, which regularly fluctuates between a debit and credit position, nor are there any repayment terms specified.