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REGISTERED NUMBER: 05280414 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 July 2024

for

PERSHORE INDOOR TENNIS CENTRE LIMITED

PERSHORE INDOOR TENNIS CENTRE LIMITED (REGISTERED NUMBER: 05280414)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 JULY 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


PERSHORE INDOOR TENNIS CENTRE LIMITED

Company Information
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: C P Lowe
P Dann
G E Bleloch
R Bevan





REGISTERED OFFICE: Avonbank
Pershore
Worcestershire
WR10 3JP





REGISTERED NUMBER: 05280414 (England and Wales)






PERSHORE INDOOR TENNIS CENTRE LIMITED (REGISTERED NUMBER: 05280414)

Statement of Financial Position
31 JULY 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 72,940 109,411

CURRENT ASSETS
Debtors 5 186 1,227
Cash at bank and in hand 63,855 88,143
64,041 89,370
CREDITORS
Amounts falling due within one year 6 30,911 38,898
NET CURRENT ASSETS 33,130 50,472
TOTAL ASSETS LESS CURRENT
LIABILITIES

106,070

159,883

CREDITORS
Amounts falling due after more than one
year

7

(48,740

)

(72,634

)

PROVISIONS FOR LIABILITIES (46,701 ) (67,551 )
NET ASSETS 10,629 19,698

CAPITAL AND RESERVES
Called up share capital 20 20
Retained earnings 10,609 19,678
SHAREHOLDERS' FUNDS 10,629 19,698

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

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.

PERSHORE INDOOR TENNIS CENTRE LIMITED (REGISTERED NUMBER: 05280414)

Statement of Financial Position - continued
31 JULY 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 January 2025 and were signed on its behalf by:





P Dann - Director


PERSHORE INDOOR TENNIS CENTRE LIMITED (REGISTERED NUMBER: 05280414)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 JULY 2024

1. STATUTORY INFORMATION

Pershore Indoor Tennis Centre Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
The financial statements have been prepared on the going concern basis. The directors believe the company will continue to meet all of its operational costs without the need for a bank overdraft, and will maintain the support of its lenders.

Turnover
Turnover represents income received from the hire of the indoor tennis facilities and income received from tennis subscriptions.

Tangible fixed assets
The cost of equipment to be held by the company for the long term is capitalised as tangible fixed assets. Depreciation is provided so as to charge the cost of tangible fixed assets by equal instalments over their estimated useful economic lives as follows:

Buildings 20 years
Equipment 5 years
IT 3 years

Capital grants

Capital grants are released in line with the depreciation policy of the related asset.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

PERSHORE INDOOR TENNIS CENTRE LIMITED (REGISTERED NUMBER: 05280414)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JULY 2024

2. ACCOUNTING POLICIES - continued

Sinking fund
The directors have a policy to set aside monies to cover the cost of repairs and renewals. Provision is being made to create a fund of £100,000 over the next six years, with a balance of £57,375 at the year-end (2023: £57,375).

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 August 2023
and 31 July 2024 729,442 6,985 736,427
DEPRECIATION
At 1 August 2023 620,031 6,985 627,016
Charge for year 36,471 - 36,471
At 31 July 2024 656,502 6,985 663,487
NET BOOK VALUE
At 31 July 2024 72,940 - 72,940
At 31 July 2023 109,411 - 109,411

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Other debtors 186 1,227

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade creditors 2,746 3,114
Taxation and social security 1,505 11,891
Other creditors 26,660 23,893
30,911 38,898

PERSHORE INDOOR TENNIS CENTRE LIMITED (REGISTERED NUMBER: 05280414)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JULY 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

The loan agreement with Warwickshire College (£146,500) is for an interest free loan, repayable in 24 equal half yearly instalments, commencing April 2008. The loan period has been amended to 36 equal half yearly payments and repayments commenced in April 2010. This loan is secured by way of a second charge on the lease held by the Company. An 18 month repayment moratorium was in place which expired in October 2014. Repayments re-commenced in April 2015. Repayments are scheduled for a further five years.
The loan agreement with Pershore Tennis Centre (£41,500) is for an interest free loan, repayable in 10 equal annual instalments, commencing July 2010. The loan period has been amended to 15 equal annual payments. The first seven repayments due in July 2010 -July 2016 were deferred by Pershore Tennis Centre; repayments re-commenced on July 2017.
The loan agreement with the Lawn Tennis Association (£159,000) is for an interest free loan, repayable in 20 equal half yearly instalments. The loan period has been amended to 30 half yearly payments. Repayments were made against the original agreement in April 2008 and October 2009, repayments against the revised agreement commenced in April 2010. This loan is secured by way of a first charge on the lease held by the Company. A 24 month repayment moratorium was in place which expired in April 2015. Repayments re-commenced in October 2015 and are scheduled for a further 18 months.

8. OPERATING LEASE COMMITMENTS

The land the company uses is on a 25 year lease from Warwickshire College with an annual commitment of peppercorn rent, this lease is due to expire in 2030. There were no finance commitments at 31 July 2023 (2022: £nil).

9. RELATED PARTY DISCLOSURES

The company is jointly owned by Warwickshire College and Pershore Tennis Centre and consequently neither party has a controlling interest. In the year Pershore Tennis Centre paid the company £25,015 (2023: £41,667) to the company for the use of its facilities, while Warwickshire College received £1,850 (2023 £nil) from the company for accountancy services received.