Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-312024-05-312023-06-01falseNo description of principal activity22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 02794153 2023-06-01 2024-05-31 02794153 2022-06-01 2023-05-31 02794153 2024-05-31 02794153 2023-05-31 02794153 c:Director2 2023-06-01 2024-05-31 02794153 d:Buildings 2023-06-01 2024-05-31 02794153 d:Buildings 2024-05-31 02794153 d:Buildings 2023-05-31 02794153 d:Buildings d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 02794153 d:Buildings d:LongLeaseholdAssets 2023-06-01 2024-05-31 02794153 d:CurrentFinancialInstruments 2024-05-31 02794153 d:CurrentFinancialInstruments 2023-05-31 02794153 d:Non-currentFinancialInstruments 2024-05-31 02794153 d:Non-currentFinancialInstruments 2023-05-31 02794153 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 02794153 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 02794153 d:Non-currentFinancialInstruments d:AfterOneYear 2024-05-31 02794153 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 02794153 d:ShareCapital 2024-05-31 02794153 d:ShareCapital 2023-05-31 02794153 d:OtherMiscellaneousReserve 2024-05-31 02794153 d:OtherMiscellaneousReserve 2023-05-31 02794153 d:RetainedEarningsAccumulatedLosses 2024-05-31 02794153 d:RetainedEarningsAccumulatedLosses 2023-05-31 02794153 c:FRS102 2023-06-01 2024-05-31 02794153 c:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 02794153 c:FullAccounts 2023-06-01 2024-05-31 02794153 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 02794153 2 2023-06-01 2024-05-31 02794153 4 2023-06-01 2024-05-31 02794153 e:PoundSterling 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure

Registered number: 02794153










OLD SARUM STADIUM LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2024

 
OLD SARUM STADIUM LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF OLD SARUM STADIUM LIMITED
FOR THE YEAR ENDED 31 MAY 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Old Sarum Stadium Limited for the year ended 31 May 2024 which comprise  the 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 at https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of Old Sarum Stadium Limited, as a body, in accordance with the terms of our engagement letter dated 20 August 2019Our work has been undertaken solely to prepare for your approval the financial statements of Old Sarum Stadium Limited and state those matters that we have agreed to state to the Board of Directors of Old Sarum Stadium Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Old Sarum Stadium Limited and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that Old Sarum Stadium Limited 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 profit of Old Sarum Stadium Limited. You consider that Old Sarum Stadium Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Old Sarum Stadium Limited. 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.

  



Fletcher and Partners
 
Crown Chambers
Bridge Street
Salisbury
Wiltshire
SP1 2LZ
27 February 2025
Page 1

 
OLD SARUM STADIUM LIMITED
REGISTERED NUMBER: 02794153

BALANCE SHEET
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
21,378
24,614

  
21,378
24,614

Current assets
  

Debtors: amounts falling due within one year
 5 
471
502,706

Cash at bank and in hand
  
376,765
17,558

  
377,236
520,264

Creditors: amounts falling due within one year
 7 
(9,915)
(226,328)

Net current assets
  
 
 
367,321
 
 
293,936

Total assets less current liabilities
  
388,699
318,550

Creditors: amounts falling due after more than one year
 8 
(827,368)
(771,964)

  

Net liabilities
  
(438,669)
(453,414)


Capital and reserves
  

Called up share capital 
  
38,159
38,159

Other reserves
  
64,262
64,262

Profit and loss account
  
(541,090)
(555,835)

  
(438,669)
(453,414)


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 statement of comprehensive income 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
Page 2

 
OLD SARUM STADIUM LIMITED
REGISTERED NUMBER: 02794153
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2024

 on 25 February 2025.




JM Stephens
Director

The notes on pages 4 to 7 form part of these financial statements.

Page 3

 
OLD SARUM STADIUM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

Old Sarum Stadium Limited is a private limited company, limited by shares, incorporated in England and Wales with registration number 02794153.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The 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 following principal accounting policies have been applied:

 
2.2

Going concern

At the year end the company had net liabilities of £438,669 (2023: £453,414). The company is reliant on the support of the PR McEnhill Will Trust to enable it to meet its financial obligations. As the PR McEnhill Will Trust will continue to financially support the company for the foreseeable future, the directors consider it appropriate to pepare the accounts on a going concern basis.

  
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company 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. Revenue represents rental income receivable from sports facility leasing and is recognised in accordance with the rental agreement.:

  
2.4

Deferred grants

Grants relating to tangible fixed assets are treated as deferred income and released to the Statement of Comprehensive Income and retained earnings as the related expenditure is incurred.

 
2.5

Interest income

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

 
2.6

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 operates and generates income.


 
2.7

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

Page 4

 
OLD SARUM STADIUM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.8

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.

Land is not depreciated. Depreciation on other assets 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:

Stadium costs
-
4%
straight line
Property improvements
-
10%
straight line

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.

 
2.9

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.

 
2.10

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.

 
2.11

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.


3.


Employees




The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 5

 
OLD SARUM STADIUM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

4.


Tangible fixed assets





Freehold property

£



Cost or valuation


At 1 June 2023
1,223,710



At 31 May 2024

1,223,710



Depreciation


At 1 June 2023
1,199,096


Charge for the year on owned assets
3,236



At 31 May 2024

1,202,332



Net book value



At 31 May 2024
21,378

Included within land and buildings is freehold land at a cost of £19,518 (2022: £23,347).


5.


Debtors



2024
2023
£
£


Other debtors
471
502,706

471
502,706



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
376,765
17,558

376,765
17,558


Page 6

 
OLD SARUM STADIUM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
4,346
31,262

Corporation tax
3,144
97,382

Other taxation and social security
-
94,684

Accruals and deferred income
2,425
3,000

9,915
226,328





8.


Creditors: Amounts falling due after more than  one year

2024
2023
£
£

Loans
827,368
771,964

827,368
771,964


The aggregate amount of liabilities repayable wholly or in part more than five years after the balance sheet date is:



Loans include a loan from the company's controlling party (see below) of £743,238 (2023: £771,964), which is secured by a legal charge over the assets of the company. The loan is interest free and is due to be repaid only when the company has sufficient funds to be able to do so. 


9.


Related party transactions

At 31 May 2024 the company owed the PR McEnhill Will Trust £743,238 (2023: £771,964) and owed £84,130 to Citybrisk Developments Limited, a company of which the PR McEnhill Will Trust is a shareholder (2023: Citibrisk Developments owed OSSL £502,706). Both are shown in creditors falling due after more than one year.


10.


Controlling party

The ultimate controlling parties are the trustees of the PR McEnhill Will Trust.

Page 7