IRIS Accounts Production v24.3.2.46 01328623 director 1.4.23 31.3.24 31.3.24 true false true true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh013286232023-03-31013286232024-03-31013286232023-04-012024-03-31013286232022-03-31013286232022-04-012023-03-31013286232023-03-3101328623ns15:EnglandWales2023-04-012024-03-3101328623ns14:PoundSterling2023-04-012024-03-3101328623ns10:Director12023-04-012024-03-3101328623ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3101328623ns10:FRS1022023-04-012024-03-3101328623ns10:Audited2023-04-012024-03-3101328623ns10:LargeMedium-sizedCompaniesRegimeForDirectorsReport2023-04-012024-03-3101328623ns10:LargeMedium-sizedCompaniesRegimeForAccounts2023-04-012024-03-3101328623ns10:FullAccounts2023-04-012024-03-310132862312023-04-012024-03-3101328623ns10:OrdinaryShareClass12023-04-012024-03-3101328623ns10:RegisteredOffice2023-04-012024-03-3101328623ns10:Director22023-04-012024-03-3101328623ns5:CurrentFinancialInstruments2024-03-3101328623ns5:CurrentFinancialInstruments2023-03-3101328623ns5:Non-currentFinancialInstruments2024-03-3101328623ns5:Non-currentFinancialInstruments2023-03-3101328623ns5:ShareCapital2024-03-3101328623ns5:ShareCapital2023-03-3101328623ns5:RetainedEarningsAccumulatedLosses2024-03-3101328623ns5:RetainedEarningsAccumulatedLosses2023-03-3101328623ns5:ShareCapital2022-03-3101328623ns5:RetainedEarningsAccumulatedLosses2022-03-3101328623ns5:RetainedEarningsAccumulatedLosses2022-04-012023-03-3101328623ns5:RetainedEarningsAccumulatedLosses2023-04-012024-03-3101328623ns5:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3101328623ns5:PlantEquipmentOtherAssetsUnderOperatingLeases2023-04-012024-03-3101328623ns5:PlantEquipmentOtherAssetsUnderOperatingLeases2022-04-012023-03-3101328623ns5:OwnedAssets2023-04-012024-03-3101328623ns5:OwnedAssets2022-04-012023-03-3101328623ns5:ComputerSoftware2023-03-3101328623ns5:ComputerSoftware2024-03-3101328623ns5:ComputerSoftware2023-03-3101328623ns5:LandBuildings2023-03-3101328623ns5:PlantMachinery2023-03-3101328623ns5:FurnitureFittings2023-03-3101328623ns5:ComputerEquipment2023-03-3101328623ns5:LandBuildings2023-04-012024-03-3101328623ns5:PlantMachinery2023-04-012024-03-3101328623ns5:FurnitureFittings2023-04-012024-03-3101328623ns5:ComputerEquipment2023-04-012024-03-3101328623ns5:LandBuildings2024-03-3101328623ns5:PlantMachinery2024-03-3101328623ns5:FurnitureFittings2024-03-3101328623ns5:ComputerEquipment2024-03-3101328623ns5:LandBuildings2023-03-3101328623ns5:PlantMachinery2023-03-3101328623ns5:FurnitureFittings2023-03-3101328623ns5:ComputerEquipment2023-03-3101328623ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3101328623ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3101328623ns5:DeferredTaxation2023-03-3101328623ns5:DeferredTaxation2024-03-3101328623ns10:OrdinaryShareClass12024-03-31
REGISTERED NUMBER: 01328623 (England and Wales)















Burntwood Sports Limited

Strategic Report, Report of the Director and

Financial Statements For The Year Ended 31 March 2024






Burntwood Sports Limited (Registered number: 01328623)






Contents of the Financial Statements
For The Year Ended 31 March 2024




Page

Company Information 1

Strategic Report 2

Report of the Director 3

Report of the Independent Auditors 4

Statement of Comprehensive Income 6

Balance Sheet 7

Statement of Changes in Equity 8

Cash Flow Statement 9

Notes to the Cash Flow Statement 10

Notes to the Financial Statements 11


Burntwood Sports Limited

Company Information
For The Year Ended 31 March 2024







DIRECTOR: Mr J R Saul



REGISTERED OFFICE: Burntwood House
Brierley
Barnsley
South Yorkshire
S72 9ET



REGISTERED NUMBER: 01328623 (England and Wales)



AUDITORS: Kingswood Allotts Limited, Statutory Auditor
Chartered Accountants
Sidings Court
Lakeside
Doncaster
South Yorkshire
DN4 5NU



BANKERS: HSBC
5 Market Hill
Barnsley
South Yorkshire
S70 2PY

Burntwood Sports Limited (Registered number: 01328623)

Strategic Report
For The Year Ended 31 March 2024

The director presents his strategic report for the year ended 31 March 2024.

REVIEW OF BUSINESS
Following a successful year of trade in 2023, the company has continued its strong performance following the effects of the national lockdowns imposed during the Covid-19 pandemic. The company saw year-on-year growth in turnover of 2.1%, with a gross profit margin of 35.4% compared with 38.6% in 2023. Profit before tax of £1.1m (2023: £1.3m) reflects a good year of trade across the operations of the company.

The company continued its development on the new facilities at Bawtry Park Golf Club in the year.

Key Performance Indicators

The principal key performance indicators for the company are levels of turnover, gross profit and net profit and employee numbers. The key sums are as follows:

2024 2023
£ £
Turnover 5,649,599 5,534,044
Gross profit / (loss) 2,001,204 2,136,229
Profit before tax 1,117,852 1,322,473
Employee numbers 98 97

PRINCIPAL RISKS AND UNCERTAINTIES
Senior management continue to monitor potential threats on an ongoing basis. Following the change of government, legislative changes, such as the recent increase in employer's national insurance rates, may continue to affect the company. As such threats are identified, the company attempts to mitigate any potential consequences where possible.

The main threats for the next couple of years continue to be the impact of inflation, wage rates and energy costs.

ON BEHALF OF THE BOARD:





Mr J R Saul - Director


19 December 2024

Burntwood Sports Limited (Registered number: 01328623)

Report of the Director
For The Year Ended 31 March 2024

The director presents his report with the financial statements of the company for the year ended 31 March 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of the operation of a hotel, leisure complex and golf course.

DIVIDENDS
No dividends will be distributed for the year ended 31 March 2024.

The director does not recommend a dividend.

FUTURE DEVELOPMENTS
The company is continuing its development of the new facilities at Bawtry Park Golf Club, with £4.7m invested by 31 March 2024. The facilities are likely to open to the public in 2025.

DIRECTORS
Mr J R Saul has held office during the whole of the period from 1 April 2023 to the date of this report.

Other changes in directors holding office are as follows:

Mrs F Saul - resigned 25 March 2024

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Kingswood Allotts Limited, will be proposed for re-appointment as auditor at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Mr J R Saul - Director


19 December 2024

Report of the Independent Auditors to the Members of
Burntwood Sports Limited

Opinion
We have audited the financial statements of Burntwood Sports Limited (the 'company') for the year ended 31 March 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 March 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Burntwood Sports Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below:

- Enquiry of management and those charged with governance around actual and potential litigation and claims;
- Enquiry of entity staff in compliance functions to identify any instances of non-compliance with laws and regulations;
- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and
regulations;
- Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for
appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing
accounting estimates for bias;
- Performing audit work over completeness of income, including cash income, including analytical review and substantive procedures.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Mark Garrison BCom FCA DChA (Senior Statutory Auditor)
for and on behalf of Kingswood Allotts Limited, Statutory Auditor
Chartered Accountants
Sidings Court
Lakeside
Doncaster
South Yorkshire
DN4 5NU

20 December 2024

Burntwood Sports Limited (Registered number: 01328623)

Statement of Comprehensive
Income
For The Year Ended 31 March 2024

2024 2023
Notes £    £   

TURNOVER 3 5,649,599 5,534,044

Cost of sales 3,648,395 3,397,815
GROSS PROFIT 2,001,204 2,136,229

Administrative expenses 1,130,759 1,032,701
870,445 1,103,528

Other operating income 164,004 163,042
OPERATING PROFIT 5 1,034,449 1,266,570

Interest receivable and similar income 83,403 55,903
PROFIT BEFORE TAXATION 1,117,852 1,322,473

Tax on profit 6 355,977 257,677
PROFIT FOR THE FINANCIAL YEAR 761,875 1,064,796

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR THE YEAR 761,875 1,064,796

Burntwood Sports Limited (Registered number: 01328623)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 7 - -
Tangible assets 8 7,666,008 6,566,903
7,666,008 6,566,903

CURRENT ASSETS
Stocks 9 101,047 97,369
Debtors 10 593,767 601,596
Cash at bank and in hand 1,780,296 2,745,897
2,475,110 3,444,862
CREDITORS
Amounts falling due within one year 11 1,627,825 2,678,682
NET CURRENT ASSETS 847,285 766,180
TOTAL ASSETS LESS CURRENT LIABILITIES 8,513,293 7,333,083

CREDITORS
Amounts falling due after more than one year 12 (218,054 ) (277,093 )

PROVISIONS FOR LIABILITIES 13 (550,030 ) (72,656 )
NET ASSETS 7,745,209 6,983,334

CAPITAL AND RESERVES
Called up share capital 14 100 100
Retained earnings 7,745,109 6,983,234
SHAREHOLDERS' FUNDS 7,745,209 6,983,334

The financial statements were approved by the director and authorised for issue on 19 December 2024 and were signed by:





Mr J R Saul - Director


Burntwood Sports Limited (Registered number: 01328623)

Statement of Changes in Equity
For The Year Ended 31 March 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 April 2022 100 5,918,438 5,918,538

Changes in equity
Total comprehensive income - 1,064,796 1,064,796
Balance at 31 March 2023 100 6,983,234 6,983,334

Changes in equity
Total comprehensive income - 761,875 761,875
Balance at 31 March 2024 100 7,745,109 7,745,209

Burntwood Sports Limited (Registered number: 01328623)

Cash Flow Statement
For The Year Ended 31 March 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 206,467 797,740
Tax paid (23,427 ) (150,424 )
Net cash from operating activities 183,040 647,316

Cash flows from investing activities
Purchase of tangible fixed assets (1,215,399 ) (1,017,123 )
Sale of tangible fixed assets 87 -
Interest received 83,403 55,903
Net cash from investing activities (1,131,909 ) (961,220 )

Cash flows from financing activities
Amount introduced by directors - 7,226
Amount withdrawn by directors (16,732 ) -
Net cash from financing activities (16,732 ) 7,226

Decrease in cash and cash equivalents (965,601 ) (306,678 )
Cash and cash equivalents at beginning of year 2 2,745,897 3,052,575

Cash and cash equivalents at end of year 2 1,780,296 2,745,897

Burntwood Sports Limited (Registered number: 01328623)

Notes to the Cash Flow Statement
For The Year Ended 31 March 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2024 2023
£    £   
Profit before taxation 1,117,852 1,322,473
Depreciation charges 111,706 185,192
Loss on disposal of fixed assets 4,501 -
Government grants (5,039 ) (5,039 )
Finance income (83,403 ) (55,903 )
1,145,617 1,446,723
Increase in stocks (3,678 ) (5,773 )
Decrease/(increase) in trade and other debtors 7,829 (225,842 )
Decrease in trade and other creditors (943,301 ) (417,368 )
Cash generated from operations 206,467 797,740

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 March 2024
31.3.24 1.4.23
£    £   
Cash and cash equivalents 1,780,296 2,745,897
Year ended 31 March 2023
31.3.23 1.4.22
£    £   
Cash and cash equivalents 2,745,897 3,052,575


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.23 Cash flow At 31.3.24
£    £    £   
Net cash
Cash at bank and in hand 2,745,897 (965,601 ) 1,780,296
2,745,897 (965,601 ) 1,780,296
Total 2,745,897 (965,601 ) 1,780,296

Burntwood Sports Limited (Registered number: 01328623)

Notes to the Financial Statements
For The Year Ended 31 March 2024

1. STATUTORY INFORMATION

Burntwood Sports limited is a private company, limited by shares, registered in England and Wales. the company's registered number and registered office address can be found on the Company Information page.

The financial statements are presented in Sterling (£), which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover 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. Turnover 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 turnover is recognised:

Sale of goods
Turnover from the sale of goods is recognised when all of the following conditions are satisfied
- the company has transferred the significant risks and rewards of ownership to the buyer;
- the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
- the amount of turnover can be measured reliably;
- it is probable that the company will receive the consideration due under the transaction; and
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services
Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of turnover can be measured reliably;
- it is probable that the company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Membership fees
Turnover from membership fees is recognised on a straight-line basis over the term of the contract.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website costs are being amortised evenly over the estimated useful life of 3 years.

Burntwood Sports Limited (Registered number: 01328623)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

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 at the following annual rates in order to write off each asset over its estimated useful life:

Freehold land- not provided
Freehold buildings- 2% on straight line
Plant and machinery- 20% on reducing balance and 15% straight line
Fixtures and fittings- 20% on reducing balance and 15% straight line
Motor vehicles- 25% on reducing balance
Computer equipment- 33% on straight line
Assets under construction- 0%

Depreciation on assets under construction will commence once the asset is brought into use.

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.

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.

Burntwood Sports Limited (Registered number: 01328623)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.

Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

The company’s policies for its major classes of financial assets and financial liabilities are set out below.

Financial assets:
Basic financial assets, including trade and other debtors and cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Financial liabilities:
Basic financial liabilities, including trade and other creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Impairment of financial assets:
Financial assets 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 profit and loss account.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets and financial liabilities:
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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.


Burntwood Sports Limited (Registered number: 01328623)

Notes to the Financial Statements - continued
For The Year Ended 31 March 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in the statement of comprehensive income 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 company in independently administered funds.

Trust
The company created a trust whose beneficiaries include employees of the company and their dependents. Assets held under this trust are controlled by trustees who are acting independently and entirely at their own discretion.

Where assets are held in the trust and these are considered by the company to be in respect of services already provided by employees to the company, the company will account for these as assets of the company until the earlier of it no longer having de facto control of these assets and it not obtaining future economic benefit from these assets.

Going concern
After making enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, he continues to adopt the going concern basis in preparing the financial statements.

Interest income
Interest income is recognised in the statement of comprehensive income using the effective interest method.

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.

In the statement of cash flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

Turnover is made up of the following:

2024 2023
£   £   
Sale of goods2,878,2312,984,415
Rendering of services2,771,3682,549,629
5,649,5995,534,044
All turnover arose in the UK and from one class of business, being the leisure industry.

Burntwood Sports Limited (Registered number: 01328623)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024

4. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 2,197,439 1,964,727
Social security costs 180,638 174,880
Other pension costs 41,044 36,890
2,419,121 2,176,497

The average number of employees during the year was as follows:
2024 2023

Administration and directors 3 3
Hotel and bar 69 67
Health Club 26 27
98 97

2024 2023
£    £   
Directors' remuneration - -

5. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Hire of plant and machinery 3,162 2,669
Depreciation - owned assets 111,706 185,192
Loss on disposal of fixed assets 4,501 -
Auditors' remuneration 13,050 14,150

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 54,018 254,734
Adjustment for prior periods (175,415 ) -
Total current tax (121,397 ) 254,734

Deferred tax:
Deferred tax 246,503 2,943
Deferred tax re previous year 230,871 -
Total deferred tax 477,374 2,943

Tax on profit 355,977 257,677

Burntwood Sports Limited (Registered number: 01328623)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024

6. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 1,117,852 1,322,473
Profit multiplied by the standard rate of corporation tax in the UK of 25% (2023 - 19%) 279,463 251,270

Effects of:
Income not taxable for tax purposes (1,260 ) (957 )
Depreciation on non-allowable items 16,569 12,566
Change in tax rates - 706
Super deduction - (5,908 )
Prior year deferred tax adjustment 230,872 -
Prior year tax adjustment (175,462 ) -
Bonus not paid within nine months 5,750 -
Movement in pension creditor 45 -
Total tax charge 355,977 257,677

7. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 April 2023
and 31 March 2024 6,500
AMORTISATION
At 1 April 2023
and 31 March 2024 6,500
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

Burntwood Sports Limited (Registered number: 01328623)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024

8. TANGIBLE FIXED ASSETS
Freehold Fixtures
land and Plant and and Computer
buildings machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 7,652,550 866,147 1,723,190 37,612 10,279,499
Additions 1,200,000 7,573 1,153 6,673 1,215,399
Disposals - (21,569 ) (248,980 ) (12,375 ) (282,924 )
At 31 March 2024 8,852,550 852,151 1,475,363 31,910 11,211,974
DEPRECIATION
At 1 April 2023 1,259,552 739,402 1,676,678 36,964 3,712,596
Charge for year 66,324 32,323 12,132 927 111,706
Eliminated on disposal - (17,021 ) (248,940 ) (12,375 ) (278,336 )
At 31 March 2024 1,325,876 754,704 1,439,870 25,516 3,545,966
NET BOOK VALUE
At 31 March 2024 7,526,674 97,447 35,493 6,394 7,666,008
At 31 March 2023 6,392,998 126,745 46,512 648 6,566,903

Included in cost of land and buildings is freehold land of £ 790,265 (2023 - £ 790,265 ) which is not depreciated.

Freehold land and buildings includes £4,746,086 (2023: £3,546,086) of assets under construction, which are not depreciated until brought into use.

9. STOCKS
2024 2023
£    £   
Food and consumables 101,047 97,369

There is no significant difference between the replacement cost of the stock and its carrying amount.

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 48,813 41,248
Other debtors 179,000 486,663
VAT 76,674 -
Prepayments and accrued income 289,280 73,685
593,767 601,596

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 187,259 208,761
Taxation 54,018 198,842
Other taxes and social security 37,502 35,981
Other creditors 741,452 1,667,402
Directors' current accounts 68,343 85,075
Accruals and deferred income 539,251 482,621
1,627,825 2,678,682

Burntwood Sports Limited (Registered number: 01328623)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024

12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Accruals and deferred income 218,054 277,093

13. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 550,030 72,656

Deferred
tax
£   
Balance at 1 April 2023 72,656
Movement in the year 477,374
Balance at 31 March 2024 550,030

Deferred tax has been provided at 25% (2023: 25%). Subject to further capital expenditure, £19,000 is expected to reverse within one year (2023: £38,000).

14. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

There is a single class of ordinary shares. There are no restrictions on the distribution of dividends and the repayment of capital.

15. PENSION COMMITMENTS

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £40,493 (2023: £36,890). Contributions totalling £13,877 (2023: £14,256) were payable to the fund at the balance sheet date and are included in creditors.

16. ULTIMATE CONTROLLING PARTY

The ultimate controlling party was J R Saul, a director and shareholder of the company.

17. CAPITAL COMMITMENTS
2024 2023
£    £   
Contracted but not provided for in the
financial statements 17,700,000 18,900,000

Burntwood Sports Limited (Registered number: 01328623)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024

18. RELATED PARTY DISCLOSURES

During the year the following balances were outstanding:-
2024 2023
£ £
Amount due from other related parties179,000161,000
Amount due to other related parties659,5001,615,992
Amount due to the directors68,34385,075

The amounts due are unsecured, interest free and repayable on demand.

During the year, the company provided services to related parties amounting to £95,000 (2023: £95,000) and received services from a related party amounting to £1,200,000 (2023: £2,100,000).

Key Management Personnel Remuneration

There are no key management personnel except the directors, whose remuneration is disclosed in the employees and directors note.