Sevenoaks IBC Limited 05210938 false 2023-10-01 2024-09-30 2024-09-30 The principal activity of the company is that of an indoor flat green bowls club. Digita Accounts Production Advanced 6.30.9574.0 true true 05210938 2023-10-01 2024-09-30 05210938 2024-09-30 05210938 core:CurrentFinancialInstruments 2024-09-30 05210938 core:CurrentFinancialInstruments core:WithinOneYear 2024-09-30 05210938 core:Non-currentFinancialInstruments core:AfterOneYear 2024-09-30 05210938 core:FurnitureFittingsToolsEquipment 2024-09-30 05210938 core:OtherPropertyPlantEquipment 2024-09-30 05210938 bus:SmallEntities 2023-10-01 2024-09-30 05210938 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 05210938 bus:FilletedAccounts 2023-10-01 2024-09-30 05210938 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 05210938 bus:RegisteredOffice 2023-10-01 2024-09-30 05210938 bus:Director12 2023-10-01 2024-09-30 05210938 bus:CompanyLimitedByGuarantee 2023-10-01 2024-09-30 05210938 core:FurnitureFittingsToolsEquipment 2023-10-01 2024-09-30 05210938 core:OfficeEquipment 2023-10-01 2024-09-30 05210938 core:OtherPropertyPlantEquipment 2023-10-01 2024-09-30 05210938 6 2023-10-01 2024-09-30 05210938 countries:EnglandWales 2023-10-01 2024-09-30 05210938 2023-09-30 05210938 core:FurnitureFittingsToolsEquipment 2023-09-30 05210938 core:OtherPropertyPlantEquipment 2023-09-30 05210938 2022-10-01 2023-09-30 05210938 2023-09-30 05210938 core:CurrentFinancialInstruments 2023-09-30 05210938 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 05210938 core:Non-currentFinancialInstruments core:AfterOneYear 2023-09-30 05210938 core:FurnitureFittingsToolsEquipment 2023-09-30 05210938 core:OtherPropertyPlantEquipment 2023-09-30 iso4217:GBP xbrli:pure

Registration number: 05210938

Sevenoaks IBC Limited

Unaudited Financial Statements

for the Year Ended 30 September 2024

Brebners
Chartered Accountants
1 Suffolk Way
Sevenoaks
Kent
TN13 1YL

 

Sevenoaks IBC Limited

Statement of Financial Position as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

98,397

23,792

Current assets

 

Stocks

6

2,620

550

Debtors

7

10,012

7,779

Cash at bank and in hand

 

95,064

46,036

 

107,696

54,365

Creditors: Amounts falling due within one year

8

(66,368)

(4,362)

Net current assets

 

41,328

50,003

Total assets less current liabilities

 

139,725

73,795

Creditors: Amounts falling due after more than one year

8

(6,200)

(3,000)

Net assets

 

133,525

70,795

Reserves

 

Retained earnings

133,525

70,795

For the financial year ending 30 September 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

The directors have elected not to include a copy of the Income Statement within the financial statements, in accordance with the special provisions relating to companies subject to the small companies regime within the Companies Act 2006, section 444.

Approved and authorised by the Board on 24 March 2025 and signed on its behalf by:
 

.........................................

Mr M E Maltby

Director

Company registration number: 05210938

 

Sevenoaks IBC Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a company limited by guarantee, incorporated in England and Wales. Each of the members is liable to contribute an amount not exceeding £5 towards the assets of the company in the event of liquidation.

The address of its registered office is:
Hollybush Close
Sevenoaks
Kent
TN13 3UX

The principal activity of the company is that of an indoor flat green bowls club.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' Section 1A and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented.

Going concern

The club had net assets at 30 September 2024 of £133,525, including cash at bank of £95,064.

The club continues to have a loyal membership within the local area, and with the resources that the club has, it is well positioned to meet its financial obligations for the next 12 months following the approval of the financial statements.

On the basis of the above, and after making enquiries, the directors have a reasonable expectation that the club has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises turnover from subscriptions evenly over the period to which the membership relates. Turnover from the use of the rink, shop, catering sales and other similar income is recognised on the date of sale.

 

Sevenoaks IBC Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

Other grants

Grants received are recognised in the profit and loss account so as to match them with the expenditure towards which they are intended to contribute. Where a grant is made as a contribution towards a fixed asset the amount of the grant received is recognised over the useful economic life of the asset.

Donations

Donations are recognised upon contractual entitlement when legally due, which is usually upon receipt of funds. Donations are recognised within other operating income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Bowling and office fittings & equipment

10% - 20% straight line

Kitchen equipment

20% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

3

Staff numbers

The average number of persons employed by the company during the year was 0 (2023 - 0).

 

Sevenoaks IBC Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

4

Other operating income

The analysis of the company's other operating income for the year is as follows:

2024
 £

2023
 £

Government grants

3,500

1,000

Voluntary donations

9,947

21,054

13,447

22,054

5

Tangible assets

Bowling and office fittings & equipment
 £

Kitchen equipment
 £

Total
£

Cost or valuation

At 1 October 2023

124,600

7,175

131,775

Additions

80,784

-

80,784

At 30 September 2024

205,384

7,175

212,559

Depreciation

At 1 October 2023

104,580

3,403

107,983

Charge for the year

5,117

1,062

6,179

At 30 September 2024

109,697

4,465

114,162

Carrying amount

At 30 September 2024

95,687

2,710

98,397

At 30 September 2023

20,020

3,772

23,792

6

Stocks

2024
£

2023
£

Stock

2,620

550

7

Debtors

2024
£

2023
£

Other debtors

10,012

7,779

 

Sevenoaks IBC Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Accruals and deferred income

5,334

4,000

Other creditors

61,034

362

66,368

4,362


 

Creditors: amounts falling due after more than one year

2024
£

2023
£

Other creditors

6,200

3,000

9

Commitments under operating leases

The total of future minimum lease payments not reflected in the statement of financial position amounts to £546,333 (2023 - £132,000).