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Company Registration No. 03566914 (England and Wales)
Walsall Rugby Football Club (trading) Limited Unaudited accounts for the year ended 30 April 2024
Walsall Rugby Football Club (trading) Limited Unaudited accounts Contents
Page
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Walsall Rugby Football Club (trading) Limited Company Information for the year ended 30 April 2024
Director
T Smith
Secretary
M McCluney
Company Number
03566914 (England and Wales)
Registered Office
Walsall Rugby Football Club Delves Road Walsall WS1 3JY
Accountants
Sedgley Accounting and Business Services Limited 13 Warren Drive Sedgley DY3 3RQ
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Walsall Rugby Football Club (trading) Limited Statement of financial position as at 30 April 2024
2024 
2023 
Notes
£ 
£ 
Current assets
Inventories
4,807 
8,930 
Debtors
12,183 
13,778 
Cash at bank and in hand
153,283 
94,601 
170,273 
117,309 
Creditors: amounts falling due within one year
(388,554)
(340,566)
Net current liabilities
(218,281)
(223,257)
Total assets less current liabilities
(218,281)
(223,257)
Creditors: amounts falling due after more than one year
(256,201)
(254,438)
Net liabilities
(474,482)
(477,695)
Capital and reserves
Called up share capital
2 
2 
Fair value reserve
23,165 
23,165 
Profit and loss account
(497,649)
(500,862)
Shareholders' funds
(474,482)
(477,695)
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 30 January 2025 and were signed on its behalf by
T Smith Director Company Registration No. 03566914
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Walsall Rugby Football Club (trading) Limited Notes to the Accounts for the year ended 30 April 2024
1
Statutory information
Walsall Rugby Football Club (trading) Limited is a private company, limited by shares, registered in England and Wales, registration number 03566914. The registered office is Walsall Rugby Football Club, Delves Road, Walsall, WS1 3JY.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Going concern
The company is expected to generate positive cash flows on its own account for the foreseeable future. The company participates in the group's centralised treasury arrangements and so shares banking arrangements with its parent. The director, having assessed the responses to their enquiries from company's parent, Walsall Rugby Football Club Limited, have no reason to believe that a material uncertainty exists that may cast significant doubt about the ability of the Walsall Rugby Football Club group to continue as a going concern or its ability to continue with the current banking arrangements. On the basis of their assessment of the company's financial position and of the enquiries made of the directors of Walsall Rugby Football Club Limited, the company's director has a reasonable expectation that the company will be able to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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Walsall Rugby Football Club (trading) Limited Notes to the Accounts for the year ended 30 April 2024
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
4
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
8,912 
13,032 
Accrued income and prepayments
1,771 
746 
Other debtors
1,500 
- 
12,183 
13,778 
5
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
11,664 
25,548 
VAT
9,842 
13,924 
Trade creditors
25,547 
19,441 
Amounts owed to group undertakings and other participating interests
318,735 
271,419 
Taxes and social security
309 
1,034 
Other creditors
1,838 
1,373 
Accruals
20,619 
7,827 
388,554 
340,566 
6
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
256,201 
254,438 
Aggregate of amounts that fall due for payment after five years
137,541 
149,205 
7
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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