Company registration number 00139136 (England and Wales)
PRESTON BOWLS CLUB (BRIGHTON) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
PRESTON BOWLS CLUB (BRIGHTON) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
PRESTON BOWLS CLUB (BRIGHTON) LIMITED
BALANCE SHEET
AS AT 30 SEPTEMBER 2024
30 September 2024
- 1 -
30 September 2024
31 December 2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
383,174
383,228
Current assets
Stocks
130
592
Debtors
5
5,789
3,024
Cash at bank and in hand
177,168
166,200
183,087
169,816
Creditors: amounts falling due within one year
6
(112,934)
(66,287)
Net current assets
70,153
103,529
Net assets
453,327
486,757
Capital and reserves
Called up share capital
7
174
180
Other reserves
9,468
9,451
Profit and loss reserves
443,685
477,126
Total equity
453,327
486,757

For the financial Period ended 30 September 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 Period 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.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 27 February 2025 and are signed on its behalf by:
T Paddenburg
Director
Company registration number 00139136 (England and Wales)
PRESTON BOWLS CLUB (BRIGHTON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024
- 2 -
1
Accounting policies
Company information

Preston Bowls Club (Brighton) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 189 Preston Road, Brighton, East Sussex, BN1 6SA.

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”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Reporting period

The company has changed its accounting reference date to 30th September each year. Therefore the current accounting period has been shortened to nine months. The accounting date will now coincide with the club's 'subscription year'.

 

Due to the shortened period, the comparative amounts presented in these financial statements (including the related notes) are not entirely comparable.

1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT.
1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
No depreciation is provided on freehold buildings as it is the company's policy to maintain these so as to extend their useful life.
Solar panels
10%  Straight line
Fixtures, fittings & equipment
20%  Reducing balance
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

1.8
Financial instruments
PRESTON BOWLS CLUB (BRIGHTON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 3 -
Classification of financial liabilities

Financial liabilities are classified according to the substance of the contractual arrangements entered into.

Basic financial liabilities

Basic financial liabilities, including creditors, are initially recognised at transaction price.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received.

1.10
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Due to the tax status of the company there is no deferred tax.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

1.14
Fixed asset replacement

The club continues to apply a policy of capitalising new fixed assets only. Replacements are charged to revenue costs. Although this is not in accordance with current financial reporting standards, the directors' consider this policy more suitable for the Club's circumstances.

PRESTON BOWLS CLUB (BRIGHTON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2024
- 4 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the Period was:

2024
2023
Number
Number
Total
5
5
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2024 and 30 September 2024
382,957
237,047
620,004
Depreciation and impairment
At 1 January 2024
-
0
236,776
236,776
Depreciation charged in the Period
-
0
54
54
At 30 September 2024
-
0
236,830
236,830
Carrying amount
At 30 September 2024
382,957
217
383,174
At 31 December 2023
382,957
271
383,228
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
5,789
3,024
PRESTON BOWLS CLUB (BRIGHTON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2024
- 5 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
35,477
2,380
Corporation tax
4,694
2,616
Other taxation and social security
1,366
-
0
Other creditors
71,397
61,291
112,934
66,287

Other creditors includes £3,500 (2023:£4,000) bequest from J Wilcox to be utilised for a suitable purpose in future.

 

7
Called up share capital
2024
2023
£
£
Ordinary share capital
Authorised
1,500 Ordinary shares of 50p each
750
750
Issued and fully paid
348 (360) Ordinary shares of 50p each
174
180

During the period 21 ordinary shares were issued to new members and 33 were forfeited by members whose membership lapsed.

 

On 2nd May 2024 the club introduced a vesting period for new members whereby a new member must wait three years as a fully paid up member of the club before a share is issued.

 

Since 2nd May 2024 15 new members have joined the club.

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