Company registration number 00629333 (England and Wales)
AMPTHILL & DISTRICT COMMUNITY RUGBY CLUB LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
AMPTHILL & DISTRICT COMMUNITY RUGBY CLUB LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
AMPTHILL & DISTRICT COMMUNITY RUGBY CLUB LIMITED
COMPANY INFORMATION
Directors
I D Titman
J A Wiggett
(Appointed 6 January 2025)
Company number
00629333
Registered office
Dillingham Park
Woburn Street
Ampthill
Bedfordshire
MK45 2HX
AMPTHILL & DISTRICT COMMUNITY RUGBY CLUB LIMITED
BALANCE SHEET
AS AT 30 JUNE 2024
30 June 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
242,765
245,243
Investments
5
103,167
102,891
345,932
348,134
Current assets
Stocks
15,759
24,333
Debtors
7
40,509
35,011
Cash at bank and in hand
40,471
12,788
96,739
72,132
Creditors: amounts falling due within one year
8
(265,835)
(194,206)
Net current liabilities
(169,096)
(122,074)
Total assets less current liabilities
176,836
226,060
Creditors: amounts falling due after more than one year
9
(30,838)
(40,217)
Net assets
145,998
185,843
Reserves
Revaluation reserve
10
16,331
16,331
Income and expenditure account
129,667
169,512
Total members' funds
145,998
185,843
The notes on pages 3 to 6 form part of these financial statements.
AMPTHILL & DISTRICT COMMUNITY RUGBY CLUB LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024
30 June 2024
- 2 -
For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 Companies Act 2006 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 within Part 15 of the companies Act 2006.
The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 27 March 2025 and are signed on its behalf by:
J A Wiggett
Director
Company registration number 00629333 (England and Wales)
AMPTHILL & DISTRICT COMMUNITY RUGBY CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 3 -
1
Accounting policies
Company information
Ampthill & District Community Rugby Club Limited is a private company, limited by guarantee, incorporated in England and Wales. The company's registered number and registered office address can be found on the company information page.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) including the provisions of Section 1A "Small Entities" and the requirements of the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
These financial statements have been prepared using the historical cost convention except as disclosed in note 5 and the departures from the requirements of FRS 102 below.
1.2
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
1.3
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold land and buildings
Not depreciated
Plant and equipment
10% on cost
Fixtures and fittings
Straight line over 5 years
1.4
Fixed asset investments
Investments in subsidiary undertakings are recognised at cost.
1.5
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition.
1.6
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.
1.7
Departure from requirements of frs 102
The company does not depreciate its freehold building nor does it comply with FRS 102 in relation to deferred tax. As explained in note 5, the directors consider the deemed cost of the land and buildings and the treatment adopted in respect of grants give a more appropriate and true and fair view of the company's assets. The company also reflects its basic financial liabilities payable over one year as it does those under one year.
AMPTHILL & DISTRICT COMMUNITY RUGBY CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 4 -
2
Judgements and key sources of estimation uncertainty
The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognized in the financial statements are as follows:
Sponsorship - the directors consider that the advertising and sponsorship that the company contracts will continue for the foreseeable future.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
39
45
4
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Fixtures and fittings
Total
£
£
£
£
Cost
At 1 July 2023
174,730
54,690
203,365
432,785
Additions
9,325
6,965
16,290
At 30 June 2024
174,730
64,015
210,330
449,075
Depreciation and impairment
At 1 July 2023
29,031
19,218
139,293
187,542
Depreciation charged in the year
6,024
12,744
18,768
At 30 June 2024
29,031
25,242
152,037
206,310
Carrying amount
At 30 June 2024
145,699
38,773
58,293
242,765
At 30 June 2023
145,699
35,472
64,072
245,243
In November 1996 a revaluation of the buildings at open market value was undertaken by Downer Duff at £108,000 and the revaluation was reflected in the carrying value of the building. No depreciation has been provided on the property as the directors do not consider that any diminution in value has arisen. During 1997 the buildings were extended at a cost of £145,077. In the view of the directors, the expenditure relating to these works would not have been incurred if not for the receipt of a Lottery Grant of £121,550 and therefore the net expenditure to the company was reflected in the balance sheet at £23,527. The directors consider the revaluation and treatment adopted in respect of the grant gives a more appropriate and true and fair view of the company's assets. If the property was sold for its revalued amount it would be necessary to replace it with a similar property, and rollover relief against tax on the gain would be available. Accordingly, no timing differences arise and no provision has been made for deferred tax in respect of the revaluation. A further valuation of the clubhouse and pitches at Dillingham Park was carried out by Brown & Lee Chartered Surveyors in August 2011 at £285,000 based upon existing use. The directors do not consider that this revaluation be included in the company's balance sheet at the present time although the matter will be kept under review on an annual basis.
AMPTHILL & DISTRICT COMMUNITY RUGBY CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 5 -
5
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
2
2
Loans to group undertakings and participating interests
103,165
102,889
103,167
102,891
Movements in fixed asset investments
Shares in subsidiaries
Loans to subsidiaries
Total
£
£
£
Cost or valuation
At 1 July 2023
2
102,889
102,891
Additions
-
276
276
At 30 June 2024
2
103,165
103,167
Carrying amount
At 30 June 2024
2
103,165
103,167
At 30 June 2023
2
102,889
102,891
6
Hire purchase and leasing commitments
Rental paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
7
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade Debtors
26,964
18,599
Other debtors
13,545
16,412
40,509
35,011
8
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
11,336
Trade creditors
95,838
53,226
Taxation and social security
58,510
61,413
Other creditors
100,151
79,567
265,835
194,206
AMPTHILL & DISTRICT COMMUNITY RUGBY CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
8
Creditors: amounts falling due within one year
(Continued)
- 6 -
Although there is no net borrowing from the company's bankers at the balance sheet date, they hold a second charge over the freehold property. Details regarding the sum due in under one year to the Rugby Football Foundation are given below.
9
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
30,838
40,217
In order to finance part of the acquisition of land and the construction of two new pitches thereon, a loan of £100,000 from the Rugby Football Foundation was made available during 2011. The loan is secured on the company's freehold property and is guaranteed by personal guarantees given by ten members of the club. The loan is interest free and repayments are made quarterly over a 15 year period commencing in June 2012.
10
Revaluation reserve
2024
2023
£
£
At the beginning and end of the year
16,331
16,331
11
Related party transactions
An interest free loan was made available to Ampthill Sports Ground Limited to finance the development of the new pitches in 2011/12. There are no repayment terms attached to this loan.
The company rents the pitches from its wholly owned subsidiary but charges maintenance costs arising on an annual basis.
12
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.