Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-312024-05-312024-05-31false2023-06-01falseNo description of principal activity00falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07170252 2023-06-01 2024-05-31 07170252 2022-06-01 2023-05-31 07170252 2024-05-31 07170252 2023-05-31 07170252 c:Director5 2023-06-01 2024-05-31 07170252 d:Buildings 2023-06-01 2024-05-31 07170252 d:PlantMachinery 2023-06-01 2024-05-31 07170252 d:FurnitureFittings 2023-06-01 2024-05-31 07170252 d:OfficeEquipment 2023-06-01 2024-05-31 07170252 d:CurrentFinancialInstruments 2024-05-31 07170252 d:CurrentFinancialInstruments 2023-05-31 07170252 d:Non-currentFinancialInstruments 2024-05-31 07170252 d:Non-currentFinancialInstruments 2023-05-31 07170252 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 07170252 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 07170252 d:Non-currentFinancialInstruments d:AfterOneYear 2024-05-31 07170252 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 07170252 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-05-31 07170252 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-05-31 07170252 d:RetainedEarningsAccumulatedLosses 2024-05-31 07170252 d:RetainedEarningsAccumulatedLosses 2023-05-31 07170252 d:RetainedEarningsAccumulatedLosses 2022-06-01 07170252 c:FRS102 2023-06-01 2024-05-31 07170252 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 07170252 c:FullAccounts 2023-06-01 2024-05-31 07170252 c:CompanyLimitedByGuarantee 2023-06-01 2024-05-31 07170252 c:Consolidated 2024-05-31 07170252 c:ConsolidatedGroupCompanyAccounts 2023-06-01 2024-05-31 07170252 2 2023-06-01 2024-05-31 07170252 6 2023-06-01 2024-05-31 07170252 e:PoundSterling 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure

Registered number: 07170252










FARNHAM RUGBY UNION FOOTBALL CLUB LIMITED
(A Company Limited by Guarantee)








Unaudited

Financial statements

Information for filing with the registrar

For the year ended 31 May 2024

 
FARNHAM RUGBY UNION FOOTBALL CLUB LIMITED
 
(A Company Limited by Guarantee)
Registered number: 07170252

Consolidated Balance Sheet
As at 31 May 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 3 
691,280
774,647

  
691,280
774,647

Current assets
  

Stocks
 5 
21,854
12,713

Debtors: amounts falling due within one year
 6 
24,121
28,405

Cash at bank and in hand
 7 
102,072
119,370

  
148,047
160,488

Creditors: amounts falling due within one year
 8 
(157,461)
(138,193)

Net current (liabilities)/assets
  
 
 
(9,414)
 
 
22,295

Total assets less current liabilities
  
681,866
796,942

Creditors: amounts falling due after more than one year
 9 
(259,110)
(292,137)

Provisions for liabilities
  

Other provisions
 11 
(77,717)
(71,764)

  
 
 
(77,717)
 
 
(71,764)

Net assets
  
345,039
433,041


Capital and reserves
  

Profit and loss account
  
345,039
433,041

  
345,039
433,041

Page 1

 
FARNHAM RUGBY UNION FOOTBALL CLUB LIMITED
 
(A Company Limited by Guarantee)
Registered number: 07170252
    
Consolidated Balance Sheet (continued)
As at 31 May 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the consolidated statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Simon Hughes
Director

Date: 26 February 2025

The notes on pages 5 to 14 form part of these financial statements.
Page 2

 
FARNHAM RUGBY UNION FOOTBALL CLUB LIMITED
 
(A Company Limited by Guarantee)
Registered number: 07170252

Company Balance Sheet
As at 31 May 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 3 
691,280
774,646

Investments
 4 
1
1

  
691,281
774,647

Current assets
  

Stocks
 5 
14,127
7,052

Debtors: amounts falling due within one year
 6 
22,696
26,637

Cash at bank and in hand
 7 
87,417
112,902

  
124,240
146,591

Creditors: amounts falling due within one year
 8 
(133,655)
(124,296)

Net current (liabilities)/assets
  
 
 
(9,415)
 
 
22,295

Total assets less current liabilities
  
681,866
796,942

  

Creditors: amounts falling due after more than one year
 9 
(259,110)
(292,137)

Provisions for liabilities
  

Other provisions
 11 
(77,717)
(71,764)

  
 
 
(77,717)
 
 
(71,764)

Net assets excluding pension asset
  
345,039
433,041

Net assets
  
345,039
433,041


Capital and reserves
  

Profit and loss account brought forward
  
433,041
522,007

Loss for the year
  
(88,002)
(88,966)

Profit and loss account carried forward
  
345,039
433,041

  
345,039
433,041

Page 3

 
FARNHAM RUGBY UNION FOOTBALL CLUB LIMITED
 
(A Company Limited by Guarantee)
Registered number: 07170252
    
Company Balance Sheet (continued)
As at 31 May 2024

The directors consider that the Company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the consolidated statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


Simon Hughes
Director

Date: 26 February 2025

The notes on pages 5 to 14 form part of these financial statements.

Page 4

 
FARNHAM RUGBY UNION FOOTBALL CLUB LIMITED

(A Company Limited by Guarantee)
 
 
 
Notes to the Financial Statements
For the year ended 31 May 2024

1.


General information

Farnham Rugby Union Football Club Limited is a company limited by guarantee that is incorporated and domiciled in England and Wales. The address of its registered office is The Clubhouse Wilkinson Way, Monkton Lane, Farnham, Surrey, United Kingdom, GU9 9FA and the principal place of business is Wilkinson Way, Monkton Lane, Farnham, Surrey, GU9 9FA.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The consolidated financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgment in applying the Group's accounting policies.

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Income and Retained Earnings in these financial statements.

The following principal accounting policies have been applied:

 
2.2

Basis of consolidation

The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.

 
2.3

Going concern

The Company and the Group is dependent on the inflow of funds from memberships and other fundraising activities to enable it to continue operate as a going concern. The directors are confident that the Club will have sufficient membership levels to enable it to continue operating as a going concern for at least a period of 12 months from the date of the financial statements.

Page 5

 
FARNHAM RUGBY UNION FOOTBALL CLUB LIMITED

(A Company Limited by Guarantee)
 
 
 
Notes to the Financial Statements
For the year ended 31 May 2024

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Not-for-profit revenue
Revenue from not-for-profit activities, such as donations and fundraislng events, is recognised at the earlier of receipt or when it is confirmed that the Group is entitled to receive the revenue.
Trading revenue
Revenue from trading activities which comprises sales of goods and rental of the Group's assets, is recognised on an accruals basis when the goods are sold or when services are performed.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

Pensions

Defined contribution pension plan

The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Group in independently administered funds.

 
2.9

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company and the Group operate and generate income.


Page 6

 
FARNHAM RUGBY UNION FOOTBALL CLUB LIMITED

(A Company Limited by Guarantee)
 
 
 
Notes to the Financial Statements
For the year ended 31 May 2024

2.Accounting policies (continued)

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Buildings
-
20 years
Clubhouse furniture and equipment
-
5 years
Floodlights
-
10 years
Pitches & irrigation
-
20 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.12

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.13

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.14

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 7

 
FARNHAM RUGBY UNION FOOTBALL CLUB LIMITED

(A Company Limited by Guarantee)
 
 
 
Notes to the Financial Statements
For the year ended 31 May 2024

2.Accounting policies (continued)

 
2.15

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.16

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.17

Financial instruments

The Group only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans from third parties.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method.
Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of Impairment. If objective evidence of impairment Is found, an impairment loss is recognised in the Consolidated statement of comprehensive income. Financial assets and liabilities are offset and the net amount reported in the Statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Page 8

 
FARNHAM RUGBY UNION FOOTBALL CLUB LIMITED

(A Company Limited by Guarantee)
 
 
 
Notes to the Financial Statements
For the year ended 31 May 2024

3.


Tangible fixed assets

Group and Company






Buildings
Floodlights, Pitches and Irrigation
Clubhouse furniture & equipment
Total

£
£
£
£



Cost or valuation


At 1 June 2023
1,105,831
396,986
67,983
1,570,800


Additions
-
3,685
2,323
6,008


Disposals
-
-
(2,915)
(2,915)



At 31 May 2024

1,105,831
400,671
67,391
1,573,893



Depreciation


At 1 June 2023
540,432
229,154
26,567
796,153


Charge for the year on owned assets
55,292
20,605
13,478
89,375


Disposals
-
-
(2,915)
(2,915)



At 31 May 2024

595,724
249,759
37,130
882,613



Net book value



At 31 May 2024
510,107
150,912
30,261
691,280



At 31 May 2023
565,398
167,832
41,416
774,646

Page 9

 
FARNHAM RUGBY UNION FOOTBALL CLUB LIMITED

(A Company Limited by Guarantee)
 
 
 
Notes to the Financial Statements
For the year ended 31 May 2024

4.


Fixed asset investments

Company





Investments in associates

£



Cost or valuation


At 1 June 2023
1



At 31 May 2024
1




The investment comprises the Company's 100% holding in FRUFC Trading Limited, an entity incorporated in the United Kingdom. The principal activity of the FRUFC Trading Limited to conduct the Club's commercial activities.


5.


Stocks

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Bar stock for resale
7,727
5,661
-
-

Sports kits for resale
14,127
7,052
14,127
7,052

21,854
12,713
14,127
7,052


The difference between purchase price or production cost of stocks and their replacement cost is not material.


6.


Debtors

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£


Trade debtors
7,961
11,812
6,536
10,044

Other debtors
9,894
2,269
9,894
2,269

Prepayments and accrued income
6,266
14,324
6,266
14,324

24,121
28,405
22,696
26,637


Page 10

 
FARNHAM RUGBY UNION FOOTBALL CLUB LIMITED

(A Company Limited by Guarantee)
 
 
 
Notes to the Financial Statements
For the year ended 31 May 2024

7.


Cash and cash equivalents

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Cash at bank and in hand
102,072
119,370
87,417
112,902

102,072
119,370
87,417
112,902



8.


Creditors: Amounts falling due within one year

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Other loans
33,026
32,543
33,026
32,543

Trade creditors
70,154
68,156
40,172
47,407

Amounts owed to group undertakings
-
-
27,142
23,915

Other taxation and social security
4,688
2,906
4,250
2,188

Other creditors
21,138
24,671
5,430
9,511

Accruals and deferred income
28,455
9,917
23,635
8,732

157,461
138,193
133,655
124,296


Page 11

 
FARNHAM RUGBY UNION FOOTBALL CLUB LIMITED

(A Company Limited by Guarantee)
 
 
 
Notes to the Financial Statements
For the year ended 31 May 2024

9.


Creditors: Amounts falling due after more than one year

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Other loans
259,110
292,137
259,110
292,137

259,110
292,137
259,110
292,137


Secured loans
The Group had four secured loans outstanding at year end:
i) The Charity Bank: £390,000 executed mortgage debenture over 14 acres of land at Monkton Lane repayable over 20 years at an interest rate of 6. 5%. Interest only payments for the first 12 months, then capital and interest payments over 20-year term of the loan. The Company renegotiated the loan with the Charity Bank in February 2017 and changed the interest rate to 3.75% above the base rate of the Bank of England. As a result of the COVID-19 pandemic, the Charity Bank provided the Group with seven months of capital only repayment holidays between April and September 2020 inclusive, and again in December 2020 thus extending the term of the loan for an equivalent period. In the final quarter of 2020, an additional £30,000 was advanced to the Club. The balance payable at year end amounted to £230,299 (2023: £248,897). Of the balance £20,597 (2023: £18,598) is due within 12 months.
ii) Rugby Football Foundation: £100,000 15-year interest free loan repayable by quarterly instalments. The loan is secured by personal guarantees. The balance payable at year end amounted to £25,000 (2023: £31,667). Of the balance £6,667 (2023: £6,667) is due within 12 months. As a result of the COVID-19 pandemic, the Rugby Football Foundation provided the Group with a two quarters repayment holiday (March and June 2020), thus extending the term of the loan for an equivalent period. 
iii) Rugby Football Union: £10,000 3-year interest free loan repayable by quarterly instalments. The loan is secured by way of a first floating charge on all property, rights and undertakings on the Club's assets. The balance payable at year end amounted to £nil (2023: £1,660). This loan was made available by the Rugby Football Union in response to the COVID-19 pandemic and was repaid in the year.
iv) HSBC Holdings PLC: £50,000 loan repayable over 6 years at an interest rate of 2.5%. Capital and interest payments are due monthly, with the first Instalment due 13 months from the initial loan date. The loan is secured by the government. This loan forms part of the government's Bounce Back Loan initiative in response to the COVID-19 pandemic. An additional £35,000 was advanced as a further loan during 2021 with the term of the loan extended to 10 years with an additional 6-month capital and interest repayment holiday. The balance payable at year end amounted to £36,838 (2023: £42,456). Of the balance £5,763 (2023: £5,618) is due within 12 months.

Page 12

 
FARNHAM RUGBY UNION FOOTBALL CLUB LIMITED

(A Company Limited by Guarantee)
 
 
 
Notes to the Financial Statements
For the year ended 31 May 2024

10.


Loans


Analysis of the maturity of loans is given below:


Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Amounts falling due within one year

Other loans
33,026
32,543
33,026
32,543


33,026
32,543
33,026
32,543

Amounts falling due after more than one year

Other loans
259,110
292,137
259,110
292,137


259,110
292,137
259,110
292,137



292,136
324,680
292,136
324,680



11.


Provisions


Group and Company






Provision for Repairs & Maintenance

£





At 1 June 2023
71,764


Charged to profit or loss
5,953



At 31 May 2024
77,717

The provision for future repairs and maintenance is an estimate by the directors for deemed future costs expected to be incurred on repairs and replacements to the Club facilities, fixtures and fittings.

Page 13

 
FARNHAM RUGBY UNION FOOTBALL CLUB LIMITED

(A Company Limited by Guarantee)
 
 
 
Notes to the Financial Statements
For the year ended 31 May 2024


12.


Company status

The Company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the Company in the event of liquidation.


13.


Pension commitments

Pension contributions totalling £252 (2023: £344) were payable to the fund at the reporting date and are included in creditors.


14.


Commitments under operating leases

On 18 November 2011, the Company entered into a lease for 14 acres of land at Monkton Lane Farnham, an area now known as the clubhouse and pitches of Farnham Rugby Union Football Club. The term of the lease is 125 years with an annual peppercorn rent.


15.


Controlling party

The directors believe that there is no controlling party as the Company is controlled equally by all its members.
 
Page 14