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Registration number: 00657952

Worthing Pavilion Bowling Club Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2024

 

Contents

Company Information

1

Directors' Report

2

Balance Sheet

3

Notes to the Financial Statements

4 to 7

 

Company Information

Directors

Mr Simon Martin Ritter

Mr David Elliott

Mrs Linda Susan Patten

Mr Graham Michael John French

Mr Warwick Shakespeare Davis

Company secretary

Mr Graham Michael John French

Registered office

78 Pavilion Road
Worthing
West Sussex
BN14 7EQ

Accountants

Lucraft Hodgson & Dawes LLP
2/4 Ash Lane
Rustington
West Sussex
BN16 3BZ

 

Directors' Report for the Year Ended 30 April 2024

The directors present their report and the financial statements for the year ended 30 April 2024.

Principal activity

The principal activity of the company is Members bowling club

Approved and authorised by the Board on 10 September 2024 and signed on its behalf by:
 

.........................................
Mr Warwick Shakespeare Davis
Director

 

(Registration number: 00657952)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

459,269

464,778

Current assets

 

Stocks

5

1,524

1,528

Debtors

6

3,301

7,125

Cash at bank and in hand

 

35,548

48,090

 

40,373

56,743

Creditors: Amounts falling due within one year

7

(54,741)

(61,689)

Net current liabilities

 

(14,368)

(4,946)

Net assets

 

444,901

459,832

Capital and reserves

 

Revaluation reserve

75,945

75,945

Profit and loss account

368,956

383,887

Shareholders' funds

 

444,901

459,832

For the financial year ending 30 April 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 10 September 2024 and signed on its behalf by:
 

.........................................
Mr Warwick Shakespeare Davis
Director

 

Notes to the Financial Statements for the Year Ended 30 April 2024

1

General information

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

The address of its registered office is:
78 Pavilion Road
Worthing
West Sussex
BN14 7EQ
United Kingdom

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.

These financial statements are presented in Sterling, which is also the company's functional currency. The financial statements are rounded to the nearest £1.

Going concern

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

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.

 

Notes to the Financial Statements for the Year Ended 30 April 2024

2

Accounting policies (continued)

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

15% reducing balance

Furniture and fittings

15% reducing balance

Office equipment

25% reducing balance

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 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.

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.

 

Notes to the Financial Statements for the Year Ended 30 April 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 2).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 May 2023

399,565

179,889

100,873

680,327

Additions

-

640

3,940

4,580

At 30 April 2024

399,565

180,529

104,813

684,907

Depreciation

At 1 May 2023

-

141,220

74,329

215,549

Charge for the year

-

6,107

3,982

10,089

At 30 April 2024

-

147,327

78,311

225,638

Carrying amount

At 30 April 2024

399,565

33,202

26,502

459,269

At 30 April 2023

399,565

38,669

26,544

464,778

Included within the net book value of land and buildings above is £399,565 (2023 - £399,565) in respect of freehold land and buildings.
 

5

Stocks

2024
£

2023
£

Other inventories

1,524

1,528

1,524

1,528

6

Debtors

 

Notes to the Financial Statements for the Year Ended 30 April 2024

6

Debtors (continued)

Current

2024
£

2023
£

Prepayments

2,733

3,185

Other debtors

568

3,940

 

3,301

7,125

7

Creditors

Creditors: amounts falling due within one year

Note

2024
 £

2023
 £

Due within one year

 

Trade creditors

 

1,694

2,531

Social security and other taxes

 

643

350

Other payables

 

47,413

48,981

Accrued expenses

 

4,991

9,827

 

54,741

61,689

8

Related party transactions

Transactions with directors

Transactions with directors

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

4,740

4,866

4,740

4,866