1 June 2023 v2025.12.1 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activity0falsetruexbrli:purexbrli:sharesiso4217:GBP69025172023-06-012024-05-3169025172024-05-3169025172023-05-316902517core:WithinOneYear2024-05-316902517core:WithinOneYear2023-05-316902517core:AfterOneYear2024-05-316902517core:AfterOneYear2023-05-316902517core:RetainedEarningsAccumulatedLosses2024-05-316902517core:RetainedEarningsAccumulatedLosses2023-05-316902517bus:Director12023-06-012024-05-316902517bus:RegisteredOffice2023-06-012024-05-316902517core:PlantMachinery2023-06-012024-05-316902517core:LandBuildings2023-06-016902517core:PlantMachinery2023-06-0169025172023-06-016902517core:LandBuildings2024-05-316902517core:PlantMachinery2024-05-316902517core:LandBuildings2023-05-316902517core:PlantMachinery2023-05-31690251712023-06-012024-05-3169025172022-06-012023-05-316902517countries:EnglandWales2023-06-012024-05-316902517bus:AuditExemptWithAccountantsReport2023-06-012024-05-316902517bus:CompanyLimitedByGuarantee2023-06-012024-05-316902517bus:SmallEntities2023-06-012024-05-316902517bus:FullAccounts2023-06-012024-05-31
Company registration number:
6902517
Pewsey Vale Rugby Football Club Ltd
Company limited by guarantee
Unaudited Filleted Financial Statements for the year ended
31 May 2024
Pewsey Vale Rugby Football Club Ltd
Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements of Pewsey Vale Rugby Football Club Ltd
Year ended
31 May 2024
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the
financial statements
of
Pewsey Vale Rugby Football Club Ltd
for the year ended
31 May 2024
which comprise the income statement, statement of financial position and related notes from the company’s accounting records and from information and explanations you have given me.
As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), I am subject to its ethical and other professional requirements which are detailed at icaew.com/​regulations.
This report is made solely to the Board of Directors of
Pewsey Vale Rugby Football Club Ltd
, as a body, in accordance with the terms of my engagement letter dated 21 September 2024. My work has been undertaken solely to prepare for your approval the
financial statements
of
Pewsey Vale Rugby Football Club Ltd
and state those matters that I have agreed to state to the Board of Directors of
Pewsey Vale Rugby Football Club Ltd
, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than
Pewsey Vale Rugby Football Club Ltd
and its Board of Directors, as a body, for my work or for this report.
It is your duty to ensure that
Pewsey Vale Rugby Football Club Ltd
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
Pewsey Vale Rugby Football Club Ltd
. You consider that
Pewsey Vale Rugby Football Club Ltd
is exempt from the statutory audit requirement for the year.
I have not been instructed to carry out an audit or a review of the financial statements of Pewsey Vale Rugby Football Club Ltd. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.
LCP Bookkeeping and Accounting
Chartered Accountant
Drybeck
Beckhampton
Martlborough
Wiltshire
SN8 1QJ
United Kingdom
Date:
21 February 2025
Pewsey Vale Rugby Football Club Ltd
Statement of Financial Position
31 May 2024
20242023
Note££
Fixed assets    
Tangible assets 6
160,025
 
159,979
 
Current assets    
Debtors 7
1,797
 
3,536
 
Cash at bank and in hand
31,502
 
23,514
 
33,299
 
27,050
 
Creditors: amounts falling due within one year 8
(1,806
)
(2,603
)
Net current assets
31,493
 
24,447
 
Total assets less current liabilities 191,518   184,426  
Creditors: amounts falling due after more than one year 9
(21,700
)
(24,800
)
Net assets
169,818
 
159,626
 
Capital and reserves    
Profit and loss account
169,818
 
159,626
 
Members funds
169,818
 
159,626
 
For the year ending
31 May 2024
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
21 February 2025
, and are signed on behalf of the board by:
Mr K Flippance
Director
Company registration number:
6902517
Pewsey Vale Rugby Football Club Ltd
Notes to the Financial Statements
Year ended
31 May 2024

1 General information

The company is a private company limited by guarantee and is registered in England and Wales. The address of the registered office is
Angela Yeates Memorial Ground
,
Wilcot Road
,
Pewsey
,
Wiltshire
,
SN9 5NL
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

The total income in the year is derived from members subscriptions, fundraising, sponsors, awards and donations.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Plant and machinery
20% reducing balance

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the entity will comply with the conditions attaching to them and the grants will be received.
Government grants are recognised using the accrual model and the performance model.
Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.
Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

4 Limited by guarantee

The company is limited by guarantee. No Director holds any interest in the company, other than as a guarantor, and none of the directors received any remuneration or benefits from the company.

5 Average number of employees

The average number of persons employed by the company during the year was
3
(2023: nil).

6 Tangible assets

Land and buildingsPlant and machinery etc.Total
£££
Cost      
At
1 June 2023
137,863
 
33,681
 
171,544
 
Additions -  
8,312
 
8,312
 
Disposals -  
(3,200
)
(3,200
)
At
31 May 2024
137,863
 
38,793
 
176,656
 
Depreciation      
At
1 June 2023
-  
11,565
 
11,565
 
Charge -  
6,955
 
6,955
 
Disposals -  
(1,889
)
(1,889
)
At
31 May 2024
-  
16,631
 
16,631
 
Carrying amount      
At
31 May 2024
137,863
 
22,162
 
160,025
 
At 31 May 2023
137,863
 
22,116
 
159,979
 

7 Debtors

20242023
££
Trade debtors -  
600
 
Other debtors
1,797
 
2,936
 
1,797
 
3,536
 

8 Creditors: amounts falling due within one year

20242023
££
Taxation and social security
765
 
1,381
 
Other creditors
1,041
 
1,222
 
1,806
 
2,603
 

9 Creditors: amounts falling due after more than one year

20242023
££
Other creditors
21,700
 
24,800