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REGISTERED NUMBER: 04832760 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2024

for

Ryde Marina Bowls Club Limited

Ryde Marina Bowls Club Limited (Registered number: 04832760)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Ryde Marina Bowls Club Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: Dr J E Baker-Deam
P Dyer
J J Johnson
H S Kirby
Mrs P A Mcmurray
A N Mcmurray
Ms D Wallace





REGISTERED OFFICE: Ryde Marina Bowls Club
Eastern Gardens Esplanade
Ryde
Isle of Wight
PO33 1JA





REGISTERED NUMBER: 04832760 (England and Wales)





ACCOUNTANTS: Allegri & Co.
16c Sandown Road
Lake
Isle of Wight
PO36 9JP

Ryde Marina Bowls Club Limited (Registered number: 04832760)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 637,101 646,736

CURRENT ASSETS
Stocks 3,146 1,253
Debtors 5 2,117 145
Cash at bank and in hand 44,115 56,735
49,378 58,133
CREDITORS
Amounts falling due within one year 6 1,238 1,207
NET CURRENT ASSETS 48,140 56,926
TOTAL ASSETS LESS CURRENT
LIABILITIES

685,241

703,662

PROVISIONS FOR LIABILITIES 7 137,625 137,625
NET ASSETS 547,616 566,037

RESERVES
Revaluation reserve 8 444,389 444,389
Income and expenditure account 103,227 121,648
547,616 566,037

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 surplus or deficit 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.

Ryde Marina Bowls Club Limited (Registered number: 04832760)

Balance Sheet - continued
30 September 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 23 February 2025 and were signed on its behalf by:





A N Mcmurray - Director


Ryde Marina Bowls Club Limited (Registered number: 04832760)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Ryde Marina Bowls Club Limited is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - in accordance with the property
Plant and machinery etc - at varying rates on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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. As a members club much of the income is derived from the members themselves and so is not chargeable to tax under mutual trading rules.

Deferred tax is recognised based on temporary differences between the carrying value of assets and liabilities in the accounts compared to their value for tax purposes. In practice the club recognises a deferred tax liability on the revaluation of the clubhouse, which represents the potential capital gains tax arising on the sale of the property based in its value at the balance sheet date.


Ryde Marina Bowls Club Limited (Registered number: 04832760)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Long and
leasehold fittings Totals
£    £    £   
COST OR VALUATION
At 1 October 2023
and 30 September 2024 690,358 53,284 743,642
DEPRECIATION
At 1 October 2023 65,057 31,849 96,906
Charge for year 5,955 3,680 9,635
At 30 September 2024 71,012 35,529 106,541
NET BOOK VALUE
At 30 September 2024 619,346 17,755 637,101
At 30 September 2023 625,301 21,435 646,736

Cost or valuation at 30 September 2024 is represented by:

Fixtures
Long and
leasehold fittings Totals
£    £    £   
Valuation in 2003 525,000 - 525,000
Valuation in 2012 114,730 - 114,730
Cost 50,628 53,284 103,912
690,358 53,284 743,642

Ryde Marina Bowls Club Limited (Registered number: 04832760)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

4. TANGIBLE FIXED ASSETS - continued

If leasehold land and buildings had not been revalued they would have been included at the following historical cost:

30.9.24 30.9.23
£    £   
Cost 50,628 50,628
Aggregate depreciation 7,752 7,340

Leasehold land and buildings were valued on existing use basis basis on by TF Property Solutions .

The company was granted a 125 year lease on 9 September 2003, at a premium of £20,000, by the Isle of Wight Council for the bowling facility and pavilion on the Esplanade in Ryde, plus costs of £25,270 for total costs of £45,270. The company has agreed to a fully repairing lease and has full control of the premises. The directors have accordingly capitalised the interest in this property, and subsequently revalued the property at fair value. The value of the asset is being depreciated over 125 years.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Other debtors 2,117 145

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Taxation and social security 142 109
Other creditors 1,096 1,098
1,238 1,207

7. PROVISIONS FOR LIABILITIES

The provision for liabilities of £137,625 is made up of deferred tax, which is a calculation of the tax that would be payable by the company should the land and buildings be sold at the value shown on the balance sheet.

8. RESERVES
Revaluation
reserve
£   
At 1 October 2023
and 30 September 2024 444,389