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Registration number: 13520813

Tarleton Rugby Union Football Club Ltd

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

Tarleton Rugby Union Football Club Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Tarleton Rugby Union Football Club Ltd

Company Information

Chief executive

Mr Ian Jackson

Directors

Mr David Craig Palmer-Davies

Mr Anthony Richard Barton

Registered office

1st Floor
8-12 London Street
Southport
Merseyside
PR9 0UE

Accountants

GMR Accountants Ltd
1st Floor
8/12 London Street
Southport
Merseyside
PR9 0UE

 

Tarleton Rugby Union Football Club Ltd

(Registration number: 13520813)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

823,057

822,013

Current assets

 

Debtors

5

11,270

13,900

Cash at bank and in hand

 

16,439

25,752

 

27,709

39,652

Creditors: Amounts falling due within one year

6

(3,240)

(9,149)

Net current assets

 

24,469

30,503

Net assets

 

847,526

852,516

Reserves

 

Revaluation reserve

800,000

800,000

Other reserves

61,589

58,169

Retained earnings

(14,063)

(5,653)

Surplus

 

847,526

852,516

For the financial year ending 31 July 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 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 April 2025 and signed on its behalf by:
 

.........................................
Mr Ian Jackson
Chief executive

 

Tarleton Rugby Union Football Club Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

General information

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

The address of its registered office is:
1st Floor
8-12 London Street
Southport
Merseyside
PR9 0UE
United Kingdom

These financial statements were authorised for issue by the Board on 28 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

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 revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet 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.

 

Tarleton Rugby Union Football Club Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

 

Tarleton Rugby Union Football Club Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

4

Tangible assets

Clubhouse buildings
£

Equipment
£

Pitches and Groundworks
 £

Total
£

Cost or valuation

At 1 August 2023

-

23,585

100,000

123,585

Revaluations

700,000

-

-

700,000

Additions

-

2,464

-

2,464

At 31 July 2024

700,000

26,049

100,000

826,049

Depreciation

At 1 August 2023

-

1,572

-

1,572

Charge for the year

-

1,420

-

1,420

At 31 July 2024

-

2,992

-

2,992

Carrying amount

At 31 July 2024

700,000

23,057

100,000

823,057

At 31 July 2023

700,000

22,013

100,000

822,013

Revaluation

The fair value of the company's Buildings was revalued on 13 April 2023. An independent valuer was not involved. .
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £Nil (2023 - £700,000).

The fair value of the company's Pitches and groundworks was revalued on 13 April 2023. An independent valuer was not involved. .
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £Nil (2023 - £100,000).

5

Debtors

Current

2024
£

2023
£

Trade debtors

11,270

13,900

 

11,270

13,900

 

Tarleton Rugby Union Football Club Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

-

3,809

Trade creditors

 

3,240

5,340

 

3,240

9,149

7

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

-

3,809