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Company registration number: 06262000
Hertfordshire LTA (Sponsorship) Limited
Company limited by guarantee
Unaudited filleted financial statements
31 December 2024
Hertfordshire LTA (Sponsorship) Limited
Company limited by guarantee
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Hertfordshire LTA (Sponsorship) Limited
Company limited by guarantee
Directors and other information
Directors
Mr. M F Corrie
Mr J L Evans
Secretary M F Corrie
Company number 06262000
Registered office Vaughan Chambers
Vaughan Road
Harpenden
Hertfordshire
AL5 4EE
Accountants Hicks and Company
Chartered Accountants
Vaughan Chambers
Vaughan Road
Harpenden
Hertfordshire
AL5 4EE
Hertfordshire LTA (Sponsorship) Limited
Company limited by guarantee
Accountant's Report to the Members
on the unaudited accounts
Year ended 31 December 2024
I report on the unaudited financial statements of Hertfordshire LTA (Sponsorship) Ltd (the "Company") for the period ended 31 December 2024 which comprise an income and expenditure accounts, balance sheet and 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).
This report is made solely to the Company's members, as a body. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Company and the Company's members as a body, for our work, for this report, or for the conclusions I have formed.
Responsibilities of the committee of management
As explained more fully in the director's report set out on page 1, the director's are 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 they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.The Company's Committee of Management consider that an audit is not required.In preparing the financial statements, the Committee of Management are responsible for assessing the Association'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 committee of management either intend to liquidate the association or to cease operations, or have no realistic alternative but to do so.
Scope of our review
I have performed a review of the financial statements and the Company's accounting records. The review has involved making enquiries of management and others within the entity, as appropriate, and reviewing the evidence obtained. The procedures performed in a review are substantially less than those performed in an audit conducted in accordance with International Standards on Auditing (UK and Ireland). Accordingly, I do not express an audit opinion on these financial statements.
Conclusion
Based on my review, nothing has come to my attention that causes me not to believe that, in my opinion:
(a) the accounts are in agreement with the accounting records kept by the Company;
(b) having regard only to, and on the basis of the information contained in those accounting records, the accounts have been drawn up in a manner consistent with the accounting requirements of United Kingdom Generally Accepted Accounting Practice.
Dylan Evans BSc ACA
Watford
Date: 6 March 2025
Hertfordshire LTA (Sponsorship) Limited
Company limited by guarantee
Statement of financial position
31 December 2024
2024 2023
Note £ £ £ £
Current assets
Debtors 6 16,213 95
Cash at bank and in hand 101,950 61,263
_______ _______
118,163 61,358
Creditors: amounts falling due
within one year 7 ( 27,304) ( 13,376)
_______ _______
Net current assets 90,859 47,982
_______ _______
Total assets less current liabilities 90,859 47,982
_______ _______
Net assets 90,859 47,982
_______ _______
Capital and reserves
Profit and loss account 90,859 47,982
_______ _______
Members funds 90,859 47,982
_______ _______
For the year ending 31 December 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 and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 06 March 2025 , and are signed on behalf of the board by:
Mr. M F Corrie Mr J L Evans
Director Director
Company registration number: 06262000
Hertfordshire LTA (Sponsorship) Limited
Company limited by guarantee
Notes to the financial statements
Year ended 31 December 2024
1. General information
The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is Vaughan Chambers, Vaughan Road, Harpenden, Hertfordshire, AL5 4EE.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in 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 financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover represents the total invoice value, excluding value added tax, of sales relating to the accounting year.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. 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 capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.
4. Limited by guarantee
Every member of the company undertakes to contribute to the assets of the company, in the event of the company being wound up while he or she is a member, or within one year after he or she ceases to be a member, for the payment of debts and liabilities of the company contracted before he or she ceases to be a member, and for the costs, charges and expenses of winding up, and for the adjustment of the rights of the of the contributories among themselves, such amount as may be required not exceeding £1. At 31 December 2024 there were 2 members (2023 - 2).
5. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
6. Debtors
2024 2023
£ £
Other debtors 16,213 95
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 5,274 72
Corporation tax 289 43
Social security and other taxes 4,570 -
Other creditors 17,171 13,261
_______ _______
27,304 13,376
_______ _______
8. Related party transactions
Hertfordshire LTA (Sponsorship) Limited has a close working relationship with Hertfordshire LTA Limited. Both entities are undercommon control. As at 1 January 2024, Hertfordshire LTA Ltd acquired all of the assets and undertakings of Hertfordshire Lawn Tennis Association.During the year the company recharged expenses with a net value of £18,474 to Hertfordshire LTA Limited (2023 - recharged from Herts LTA Ltd £2,261). At 31 December 2024 the balance from Hertfordshire LTA Limited was £16,213 (2023 - owed to £2,261) (Disclosed in note 6 and 7).
9. Controlling party
The directors are the ultimate controlling party of the company.
10. Transactions with directors
Martin Corrie, a director, is a consultant of the firm Hicks and Company, Chartered Accountants. During the year ended 31 December 2024 the company purchased bookkeeping and office services from Hicks and Company on normal commercial terms with a total value of £720 excluding VAT (2023 - £948 excluding VAT). Included in trade creditors at 31 December 2023 is an amount of £nil (2023 - £72) due to Hicks and Company.