4 01/01/2024 31/12/2024 2024-12-31 false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2024-01-01 Sage Accounts Production 23.0 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 02851601 2024-01-01 2024-12-31 02851601 2024-12-31 02851601 2023-12-31 02851601 2023-01-01 2023-12-31 02851601 2023-12-31 02851601 2022-12-31 02851601 core:FurnitureFittingsToolsEquipment 2024-01-01 2024-12-31 02851601 bus:RegisteredOffice 2024-01-01 2024-12-31 02851601 bus:LeadAgentIfApplicable 2024-01-01 2024-12-31 02851601 bus:Director2 2024-01-01 2024-12-31 02851601 bus:Director3 2024-01-01 2024-12-31 02851601 bus:Director4 2024-01-01 2024-12-31 02851601 bus:CompanySecretary1 2024-01-01 2024-12-31 02851601 core:IntangibleAssetsOtherThanGoodwill 2023-12-31 02851601 core:IntangibleAssetsOtherThanGoodwill 2024-12-31 02851601 core:FurnitureFittingsToolsEquipment 2023-12-31 02851601 core:FurnitureFittingsToolsEquipment 2024-12-31 02851601 core:WithinOneYear 2024-12-31 02851601 core:WithinOneYear 2023-12-31 02851601 core:IntangibleAssetsOtherThanGoodwill 2024-01-01 2024-12-31 02851601 core:RetainedEarningsAccumulatedLosses 2024-12-31 02851601 core:RetainedEarningsAccumulatedLosses 2023-12-31 02851601 core:IntangibleAssetsOtherThanGoodwill 2023-12-31 02851601 core:CostValuation core:Non-currentFinancialInstruments 2024-12-31 02851601 core:Non-currentFinancialInstruments 2024-12-31 02851601 core:Non-currentFinancialInstruments 2023-12-31 02851601 core:FurnitureFittingsToolsEquipment 2023-12-31 02851601 bus:SmallEntities 2024-01-01 2024-12-31 02851601 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 02851601 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 02851601 bus:CompanyLimitedByGuarantee 2024-01-01 2024-12-31 02851601 bus:FullAccounts 2024-01-01 2024-12-31 02851601 core:ComputerEquipment 2023-12-31 02851601 core:ComputerEquipment 2024-01-01 2024-12-31 02851601 core:ComputerEquipment 2024-12-31 02851601 core:AllAssociates 2024-01-01 2024-12-31 02851601 1 2024-01-01 2024-12-31
Company registration number: 02851601
Hertfordshire LTA Limited
Company limited by guarantee
Unaudited filleted financial statements
31 December 2024
Hertfordshire LTA Limited
Company limited by guarantee
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Hertfordshire LTA Limited
Company limited by guarantee
Directors and other information
Directors
Mr. M F Corrie
Mr J L Evans
Mrs B Amos
Secretary M F Corrie
Company number 02851601
Registered office Vaughan Chambers
Vaughan Road
Harpenden
Hertfordshire
AL5 4EE
Accountants Hicks and Company
Chartered Accountants
Vaughan Chambers
Vaughan Road
Harpenden
AL5 4EE
Hertfordshire LTA Limited
Company limited by guarantee
Accountant's Report to the Members
unaudited statutory financial statements of Hertfordshire LTA Limited
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 Limited
Company limited by guarantee
Statement of financial position
31 December 2024
31/12/24 31/12/23
Note £ £ £ £
Fixed assets
Intangible assets 6 94,246 101,101
Tangible assets 7 295 348
Investments 8 10,000 10,000
_______ _______
104,541 111,449
Current assets
Debtors 9 4,059 12,239
Cash at bank and in hand 342,391 307,459
_______ _______
346,450 319,698
Creditors: amounts falling due
within one year 10 ( 62,632) ( 36,384)
_______ _______
Net current assets 283,818 283,314
_______ _______
Total assets less current liabilities 388,359 394,763
_______ _______
Net assets 388,359 394,763
_______ _______
Capital and reserves
Profit and loss account 388,359 394,763
_______ _______
Members funds 388,359 394,763
_______ _______
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: 02851601
Hertfordshire LTA 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 Hertfordshire LTA Limited, Vaughan Chambers, Vaughan Road, Harpenden, Hertfordshire, AL5 4EE.
On 14 December 2023 the company changed it's name from Hertfordshire LTA (Tennis Centres) Ltd to Hertfordshire LTA Ltd.
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 is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
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.
Intangible assets
Operating licences are valued at cost less accumulated amortisation.The operating licences agreement in place with Gosling Sports Park ends in 2039. Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful life of 25 to 30 years. At 31 December 2024 the useful life remaining was 13.75 years.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.Any tangible assets carried at revalued amounts is recorded at the fair value at the date of revaluation less any subseqeunt accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 15 % reducing balance
Computer equipment - 3 years straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
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.
Defined contribution plans
The pension costs charged in the financial statements represent the contribution payable by the company during the year.
Merger accounting
At 1 January 2024, Hertfordshire LTA Ltd acquired all of the assets and undertakings of the unincorporated Hertfordshire Lawn Tennis Association at net book value. The merger accounting method as set out in Financial Reporting Standard 102 has been applied for the overriding purposes of giving a true and fair view. Consquently the figures shown in the financial statements are for the year ended 31 December 2024 and the comparatives are extracted from the financial statements for the unincorporated Hertfordshire Lawn Tennis Association for the 15 month period ended 31 December 2023 together with the results for Hertfordshire LTA Ltd for the same period.
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 ceases to be a member, for the payment of debts and liabilities of the company contracted before he ceases to be a member, and for the costs, charges and expenses of winding up, and for the adjustment of the rights of the contributories among themselves, such amount as may be required not exceeding £5. At 31 December 2024 there were 3 members (2023 - 3 members).
5. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2023: 4 ).
6. Intangible assets
Operating licences Total
£ £
Cost
At 1 January 2024 374,503 374,503
Disposals (25,000) (25,000)
_______ _______
At 31 December 2024 349,503 349,503
_______ _______
Amortisation
At 1 January 2024 273,402 273,402
Charge for the year 6,854 6,854
Disposals ( 24,999) ( 24,999)
_______ _______
At 31 December 2024 255,257 255,257
_______ _______
Carrying amount
At 31 December 2024 94,246 94,246
_______ _______
At 31 December 2023 101,101 101,101
_______ _______
7. Tangible assets
Fixtures, fittings and equipment Computer equipment Total
£ £ £
Cost
At 1 January 2024 12,780 2,638 15,418
Disposals ( 8,306) ( 1,222) ( 9,528)
_______ _______ _______
At 31 December 2024 4,474 1,416 5,890
_______ _______ _______
Depreciation
At 1 January 2024 12,434 2,636 15,070
Charge for the year 51 - 51
Disposals ( 8,305) ( 1,221) ( 9,526)
_______ _______ _______
At 31 December 2024 4,180 1,415 5,595
_______ _______ _______
Carrying amount
At 31 December 2024 294 1 295
_______ _______ _______
At 31 December 2023 346 2 348
_______ _______ _______
8. Investments
Other investments other than loans Total
£ £
Cost
At 1 January 2024 and 31 December 2024 10,000 10,000
_______ _______
Impairment
At 1 January 2024 and 31 December 2024 - -
_______ _______
Carrying amount
At 31 December 2024 10,000 10,000
_______ _______
At 31 December 2023 10,000 10,000
_______ _______
9. Debtors
31/12/24 31/12/23
£ £
Trade debtors 2,978 1,824
Other debtors 1,081 10,415
_______ _______
4,059 12,239
_______ _______
10. Creditors: amounts falling due within one year
31/12/24 31/12/23
£ £
Trade creditors 8,974 9,721
Corporation tax 648 596
Social security and other taxes 1,956 6,401
Other creditors 51,054 19,666
_______ _______
62,632 36,384
_______ _______
11. Related party transactions
Hertfordshire LTA Limited has a close working relationship with Hertfordshire LTA (Sponsorship) Limited. Both entities are undercommon control.During the year the company incurred recharged expenses with a value of £18,474 from Hertfordshire LTA (Sponsorship) Limited (2023 - recharged to Hertfordshire LTA (Sponsorship) Ltd £2,261). At 31 December 2024 the balance due to Hertfordshire LTA (Sponsorship) Limited was £16,213 (2023 - owed from £2,261) (Disclosed in note 10 and 12).
12. Controlling party
The directors are the ultimate controlling party of the company.
13. 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 £7,443 excluding VAT (2023 - £2,060 excluding VAT). At 31 December 2024 the amount due from Hertfordshire LTA Ltd to Hicks and Company was £nil (2023 - £120).