Registered number
10121185
Hornets Rugby Football Club Ltd
Filleted Accounts
30 June 2024
Hornets Rugby Football Club Ltd
Registered number: 10121185
Balance Sheet
as at 30 June 2024
Notes 2024 2022
£ £
Fixed assets
Tangible assets 3 696,060 715,682
Current assets
Stocks 7,002 14,074
Debtors 4 25,354 10,065
Cash at bank and in hand 49,617 21,561
81,973 45,700
Creditors: amounts falling due within one year 5 (51,844) (155,929)
Net current assets/(liabilities) 30,129 (110,229)
Total assets less current liabilities 726,189 605,453
Creditors: amounts falling due after more than one year 6 (93,964) (114,097)
Net assets 632,225 491,356
Capital and reserves
Profit and loss account 632,225 491,356
Shareholder's funds 632,225 491,356
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S. Simmons
Director
Approved by the board on 5 March 2025
Hornets Rugby Football Club Ltd
Notes to the Accounts
for the period from 1 January 2023 to 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2022
Number Number
Average number of persons employed by the company 50 50
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 January 2023 581,141 196,265 777,406
Additions 1,999 11,161 13,160
At 30 June 2024 583,140 207,426 790,566
Depreciation
At 1 January 2023 - 61,724 61,724
Charge for the period - 32,782 32,782
At 30 June 2024 - 94,506 94,506
Net book value
At 30 June 2024 583,140 112,920 696,060
At 31 December 2022 581,141 134,541 715,682
4 Debtors 2024 2022
£ £
Trade debtors 25,354 10,065
Other debtors - -
25,354 10,065
5 Creditors: amounts falling due within one year 2024 2022
£ £
Bank loans and overdrafts 15,173 30,730
RFU Loans 6,668 8,335
Trade creditors 10,600 88,824
Hire Purchase 1,652 9,913
Taxation and social security costs 17,705 (1,181)
Other creditors 46 19,308
51,844 155,929
6 Creditors: amounts falling due after one year 2024 2022
£ £
Bank loans 22,311 67,500
RFU Loans 71,653 39,988
Hire Purchase - 6,609
93,964 114,097
7 Other information
Hornets Rugby Football Club Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Hutton Moor Park
Hutton Moor Road
W-s-M
North Somerset
BS22 8LY
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