Company No:
Contents
DIRECTORS | Mr D Campbell (Appointed 05 November 2024) |
Mr P F Connelly | |
Mr J N Connolly | |
Mr C J Irwin (Resigned 05 November 2024) |
SECRETARY | Mr J N Connolly |
REGISTERED OFFICE | Moat Hall Sports Centre Hallsworth Road |
Eccles | |
Manchester | |
M30 7LS | |
United Kingdom |
COMPANY NUMBER | 14554815 (England and Wales) |
ACCOUNTANT | Barlow Andrews LLP |
Carlyle House | |
78 Chorley New Road | |
Bolton | |
BL1 4BY | |
United Kingdom |
Note | 31.12.2024 | 31.12.2023 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 3 |
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Investments | 4 |
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11,884 | 10,801 | |||
Current assets | ||||
Cash at bank and in hand | 5 |
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7,081 | 7,090 | |||
Creditors: amounts falling due within one year | 6 | (
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Net current liabilities | (11,893) | (11,891) | ||
Total assets less current liabilities | (9) | (1,090) | ||
Net liabilities | (
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Reserves | ||||
Retained earnings | (
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Total reserves | (
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Directors' responsibilities:
These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Salford City Roosters ARLFC Limited (registered number:
Mr D Campbell
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.
Salford City Roosters ARLFC Limited (the Company) is a private company, limited by guarantee, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Moat Hall Sports Centre Hallsworth Road, Eccles, Manchester, M30 7LS, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
Group accounts exemption s399
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.
All other income is received in cash but the sale is only recognised as income when it is earned.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Land and buildings |
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Plant and machinery etc. |
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The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.
Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in surplus or deficit.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
Financial assets and financial liabilities are recognised when the Company becomes a 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.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including 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. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
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. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Year ended 31.12.2024 |
Period from 22.12.2022 to 31.12.2023 |
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Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Land and buildings | Plant and machinery etc. | Total | |||
£ | £ | £ | |||
Cost | |||||
At 01 January 2024 |
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Additions |
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At 31 December 2024 |
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Accumulated depreciation | |||||
At 01 January 2024 |
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Charge for the financial year |
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At 31 December 2024 |
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Net book value | |||||
At 31 December 2024 |
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At 31 December 2023 |
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Investments in subsidiaries
31.12.2024 | |
£ | |
Cost | |
At 01 January 2024 |
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At 31 December 2024 |
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Carrying value at 31 December 2024 |
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Carrying value at 31 December 2023 |
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31.12.2024 | 31.12.2023 | ||
£ | £ | ||
Cash at bank and in hand |
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31.12.2024 | 31.12.2023 | ||
£ | £ | ||
Amounts owed to own subsidiaries |
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Taxation and social security |
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Other creditors |
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The members of the Salford City Roosters ARLFC Limited have undertaken to contribute a sum not exceeding £1 each to meet the liabilities of the Company if it should be wound up.