REGISTERED NUMBER: |
The Professional Bowls Corporation Ltd |
Report of the Directors and |
Unaudited Financial Statements |
For The Year Ended 31st May 2024 |
REGISTERED NUMBER: |
The Professional Bowls Corporation Ltd |
Report of the Directors and |
Unaudited Financial Statements |
For The Year Ended 31st May 2024 |
The Professional Bowls Corporation Ltd (Registered number: 12297213) |
Contents of the Financial Statements |
For The Year Ended 31st May 2024 |
Page |
Company Information | 1 |
Report of the Directors | 2 | to | 3 |
Chartered Accountants' Report | 4 |
Income Statement | 5 |
Balance Sheet | 6 |
Notes to the Financial Statements | 7 | to | 9 |
The Professional Bowls Corporation Ltd |
Company Information |
For The Year Ended 31st May 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
310 Wellingborough Road |
Northampton |
NN1 4EP |
The Professional Bowls Corporation Ltd (Registered number: 12297213) |
Report of the Directors |
For The Year Ended 31st May 2024 |
The directors present their report with the financial statements of the company for the year ended 31st May 2024. |
REVIEW OF BUSINESS |
The Company continues to invest and work to make BowlsFit® for the FUTURE by promoting Bowls, Bowlers and Bowls Clubs for all formats of Bowls. |
We have seen an acceleration in the trend for Bowlers to see bowls as one of many social activities played in small groups at their home club amongst friends RATHER than as part of a team against other clubs. This means bowlers have to travel less and reduces the need for a post match meal. The "cost of living" crisis has also contributed to this change as bowlers have to choose where to spend their money and circa £50 for a couple to play a game of bowls is a large part of a weekly budget. |
In terms of competitive bowls "Player Pathway", having previously sponsored the EIBA's Open Singles Circuit "OSC" and the Professional Bowls Association "PBA" Qualifiers for the World Bowls Tour Event at "Potters" Broadcast on BBC TV in January, it is pleasing to note these events have gone from struggling to fill the entries to now in many cases being filled within hours. This replicates experience of the Short Mat Players Tour "SMPT" which the company has also sponsored. The Company has also sponsored Bowls England which despite its name is currently only responsible for outdoor Lawn Bowls. |
All the events the company has sponsored are open to everyone and show anyone can have the chance to play against the best Bowlers in the Country and if good enough can become a "Bowls Champion". |
- Something we believe is worth "shouting about" as a Unique Selling Point "USP" as to why those of a competitive nature AND sponsors should not dismiss bowls as an "old persons sport". |
Bowls has the advantage of an estimated £1 billion of assets, funded by a significant amount of Public funding, within local communities which have multi-functional use e.g. multiple formats of bowls, fitness classes, COVID testing/ vaccination centers. |
Whilst we view "Park Run" positively, being an example of how a sport can adapt by offering high quality FREE events with a world class administration and support structure we believe there is CURRENTLY something in the culture of bowls where despite having wonderful facilities at club level the members of those clubs can be reluctant to share and make "newcomers" welcome. |
- So we feel we need to be patient in the world of bowls and look to promote a change in culture where Bowls Club would willingly offer their facilities to a Bowls "Park Run" concept and embed in the culture of the sport making "EVERYONE FEEL WELCOME" as Bowls has the potential to be a genuine "Sport for ALL. |
Sadly our work continues to highlight allegations of bullying across all formats of Bowls and from our work, we believe the processes for raising Complaints and Grievances currently in place within Bowls may fall short of the standard required for public funding. This is an issue we will continue to highlight and campaign for change with those organisations responsible for Bowls Governance and Funding the sport of Bowls. |
However, we would like to draw the readers attention to the new, what appears to be Sport England influenced, Bowls England approach to bowls Governance. |
- "No one in sport and physical activity; whether they are a volunteer, participant, spectator or elite athlete, should ever have to worry about abuse or harassment." |
As the sport of Bowls, is accessible to everyone, promotes both physical & mental wellbeing and currently has limited Commercial involvement relative to the potential, the Directors continue to see value and commercial potential in Bowls. |
So the Company continues to invest in, is protected by registered trademarks and continues to take action to defend its Registered Trademarks.:- |
1. Professional Bowls Corporation® focused on modernising Bowls Administration both in terms of effectiveness and efficiency. |
2. Bowls is Bowls® since 1984 has simply been promoting all formats of Bowls equally as they are all equally important. |
3. Astro Bowls® promotes the idea of addressing the loss of traditional outdoor and indoor bowling greens by playing bowls on existing artificial sports surfaces (hockey pitches, football pitches, tennis courts, running tracks...... ) within local communities. |
4. 'Bowls Fit® ' a fitness brand developed with a fitness professional Katie Bulmer-Cooke and Apprentice candidate as a low impact fitness programme based on the movements and muscles used to play bowls. This program is accessible, like Bowls, to all ages and abilities and can be used individually or as part of group classes. |
The Professional Bowls Corporation Ltd (Registered number: 12297213) |
Report of the Directors |
For The Year Ended 31st May 2024 |
5. 'World Series Bowls ®' given the significant commercial potential of running many different World Series for each format of bowls. |
DIRECTORS |
The directors shown below have held office during the whole of the period from 1st June 2023 to the date of this report. |
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
ON BEHALF OF THE BOARD: |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
The Professional Bowls Corporation Ltd |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Professional Bowls Corporation Ltd for the year ended 31st May 2024 which comprise the Income Statement, Balance Sheet and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the Board of Directors of The Professional Bowls Corporation Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of The Professional Bowls Corporation Ltd and state those matters that we have agreed to state to the Board of Directors of The Professional Bowls Corporation Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Professional Bowls Corporation Ltd and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that The Professional Bowls Corporation Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of The Professional Bowls Corporation Ltd. You consider that The Professional Bowls Corporation Ltd 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 financial statements of The Professional Bowls Corporation Ltd. 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 financial statements. |
310 Wellingborough Road |
Northampton |
NN1 4EP |
The Professional Bowls Corporation Ltd (Registered number: 12297213) |
Income Statement |
For The Year Ended 31st May 2024 |
Period |
1.12.21 |
Year ended | to |
31.5.24 | 31.5.23 |
Notes | £ | £ |
TURNOVER |
Cost of sales | ( |
) | ( |
) |
GROSS PROFIT |
Administrative expenses | ( |
) | ( |
) |
OPERATING LOSS | 5 | ( |
) | ( |
) |
Interest payable and similar expenses | ( |
) |
LOSS BEFORE TAXATION | ( |
) | ( |
) |
Tax on loss |
LOSS FOR THE FINANCIAL YEAR | ( |
) | ( |
) |
The Professional Bowls Corporation Ltd (Registered number: 12297213) |
Balance Sheet |
31st May 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 6 |
Tangible assets | 7 |
CURRENT ASSETS |
Debtors | 8 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 9 |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
10 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
The financial statements were approved by the Board of Directors and authorised for issue on |
The Professional Bowls Corporation Ltd (Registered number: 12297213) |
Notes to the Financial Statements |
For The Year Ended 31st May 2024 |
1. | STATUTORY INFORMATION |
The Professional Bowls Corporation Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
The principal activity of the company in the year under review was that of the promotion of bowling activities. |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Website | - |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
The Professional Bowls Corporation Ltd (Registered number: 12297213) |
Notes to the Financial Statements - continued |
For The Year Ended 31st May 2024 |
5. | OPERATING LOSS |
The operating loss is stated after charging: |
Period |
1.12.21 |
Year ended | to |
31.5.24 | 31.5.23 |
£ | £ |
Depreciation - owned assets |
6. | INTANGIBLE FIXED ASSETS |
Other | WSB | Bowls Fit |
Trademarks | Trademark | Trademark | Totals |
£ | £ | £ | £ |
COST |
At 1st June 2023 |
Additions |
At 31st May 2024 |
NET BOOK VALUE |
At 31st May 2024 |
At 31st May 2023 |
7. | TANGIBLE FIXED ASSETS |
Website |
£ |
COST |
At 1st June 2023 |
and 31st May 2024 |
DEPRECIATION |
At 1st June 2023 |
Charge for year |
At 31st May 2024 |
NET BOOK VALUE |
At 31st May 2024 |
At 31st May 2023 |
The Director is of the opinion that the fixed assets do not need to be depreciated for the year ended 31st May 2024. |
8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other debtors |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other creditors |
The Professional Bowls Corporation Ltd (Registered number: 12297213) |
Notes to the Financial Statements - continued |
For The Year Ended 31st May 2024 |
10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Loans due after one year |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary shares | £1 | 50,000 | 50,000 |
12. | CONTINGENT LIABILITIES |
There were no contingent liabilities as at 31st May 2024 or 31st May 2023. |
13. | CAPITAL COMMITMENTS |
There were no capital commitments as at 31st May 2024 or 31st May 2023. |