Registrar
Registration number:
Braintree Hockey Club Limited
for the Year Ended 30 April 2024
Braintree Hockey Club Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Braintree Hockey Club Limited
Company Information
Directors |
M B Hanley A J Hill J G Menhinick D R Bull F E Coulson K J Browning |
Registered office |
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Braintree Hockey Club Limited
(Registration number: 08034805)
Balance Sheet as at 30 April 2024
Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Other financial assets |
223,820 |
195,408 |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
- |
( |
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Net assets |
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Capital and reserves |
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Retained earnings |
363,425 |
355,199 |
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Shareholders' funds |
363,425 |
355,199 |
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:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
Director
Director
Braintree Hockey Club Limited
Notes to the Financial Statements for the Year Ended 30 April 2024
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office, and the principal place of business, is:
These financial statements were authorised for issue by the
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.
These financial statements are presented in Sterling (£), which is the company's functional currency.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of subscriptions, income from hire and bar and other social income. Turnover is shown net of 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
Tax
As the Company is a Community Amateur Sports Club (CASC) it is eligible for tax exemptions, subject to its levels of income and the utilisation of any surpluses for qualifying purposes. Should either the specified income levels be breeched or surpluses used for non-qualifying purposes, then corporation tax would become due accordingly.
Deferred tax is recognised on temporary difference arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date. However, as the Company is a CASC, deferred tax will only recognised if it is unable to take advantage of the available tax exemptions.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation.
Depreciation
Depreciation is charged so as to write off the cost or valuation of assets, other than land and properties under construction over their estimated useful lives, as follows:
Braintree Hockey Club Limited
Notes to the Financial Statements for the Year Ended 30 April 2024
Asset class |
Depreciation method and rate |
Equipment |
25% Reducing Balance |
Clubhouse and Changing Rooms |
4% Straight Line |
Synthetic Playing Surface |
10% Straight Line |
Land |
No Depreciation Charged |
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 debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits.
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.
Share capital
The Company has no share capital since it is limited by guarantee. The liability of members is £1.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Braintree Hockey Club Limited
Notes to the Financial Statements for the Year Ended 30 April 2024
Tangible assets |
Clubhouse and Changing Rooms |
Equipment |
Land |
Synthetic Playing Surface |
Total |
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Cost or valuation |
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At 1 May 2023 |
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Additions |
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- |
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At 30 April 2024 |
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Depreciation |
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At 1 May 2023 |
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- |
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Charge for the year |
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- |
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At 30 April 2024 |
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- |
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Carrying amount |
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At 30 April 2024 |
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At 30 April 2023 |
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Other financial assets (current and non-current) |
Financial assets at cost less impairment |
Total |
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Current financial assets |
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Cost or valuation |
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At 1 May 2023 |
195,408 |
195,408 |
Additions |
28,412 |
28,412 |
At 30 April 2024 |
223,820 |
223,820 |
Carrying amount |
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At 30 April 2024 |
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223,820 |
Braintree Hockey Club Limited
Notes to the Financial Statements for the Year Ended 30 April 2024
The current financial assets held at the balance sheet date are as follows:
Invested with |
Investment held |
Investment return |
Hampshire Trust Bank |
£85,000 |
4.70% per annum |
United Trust Bank |
£84,061 |
0.10% / 0.90% / 1.32% per annum |
Shawbrook Bank |
£51,197 |
4.27% / 5.03% per annum |
Dudley Bank |
£3,562 |
4.0% per annum |
Stocks |
2024 |
2023 |
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Stock |
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Debtors |
2024 |
2023 |
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Trade debtors |
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Prepayments |
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Other debtors |
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- |
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Creditors |
Creditors: amounts falling due within one year
Note |
2024 |
2023 |
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Due within one year |
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Loans and borrowings |
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- |
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Trade creditors |
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Taxation and social security |
- |
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Accruals and deferred income |
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Other creditors |
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- |
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Creditors: amounts falling due after more than one year
2024 |
2023 |
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Due after one year |
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Deferred income |
- |
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Braintree Hockey Club Limited
Notes to the Financial Statements for the Year Ended 30 April 2024
Loans and borrowings |
Current loans and borrowings
2024 |
2023 |
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Bank overdrafts |
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- |