Company registration number 00225294 (England and Wales)
SOUTH NORTHUMBERLAND CRICKET CLUB LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
SOUTH NORTHUMBERLAND CRICKET CLUB LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 9
SOUTH NORTHUMBERLAND CRICKET CLUB LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
5
1,931,936
1,946,740
Investments
6
1,299,917
1,221,605
3,231,853
3,168,345
Current assets
Debtors
7
347,819
347,790
Investments
8
12,890
12,879
Cash at bank and in hand
8,403
11,354
369,112
372,023
Creditors: amounts falling due within one year
9
(389,543)
(313,105)
Net current (liabilities)/assets
(20,431)
58,918
Total assets less current liabilities
3,211,422
3,227,263
Creditors: amounts falling due after more than one year
10
(196,901)
(264,522)
Net assets
3,014,521
2,962,741
Reserves
Income and expenditure account
3,014,521
2,962,741
Members' funds
3,014,521
2,962,741
SOUTH NORTHUMBERLAND CRICKET CLUB LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2024
30 September 2024
- 2 -

For the financial year ended 30 September 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 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 Companies Act 2006 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.

The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 7 April 2025 and are signed on its behalf by:
G Robson
Director
Company registration number 00225294 (England and Wales)
SOUTH NORTHUMBERLAND CRICKET CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -
1
Accounting policies
Company information

South Northumberland Cricket Club Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Roseworth Terrace, Newcastle Upon Tyne, NE3 1LU.

 

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Income and expenditure

Income and expenses are included in the financial statements as they become receivable or due.

1.3
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Website
33% straight line
1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
2% straight line basis
Leasehold land and buildings
Straight line over the life of the lease
Fixtures and fittings
20-33% straight line basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to surplus or deficit.

SOUTH NORTHUMBERLAND CRICKET CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Fixed asset investments

Interests in subsidiaries,are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

 

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit and loss.

 

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.6
Impairment of fixed assets

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in surplus or deficit, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in surplus or deficit, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

SOUTH NORTHUMBERLAND CRICKET CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 5 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.9
Taxation

The company is exempt from corporation tax, it being a company not carrying on a business for the purposes of making a profit.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
Leases

Amounts due from lessees under finance leases are recognised as receivables at the amount of the company’s net investment in the leases. Finance lease income is allocated to accounting periods so as to reflect a constant periodic rate of return on the company’s net investment outstanding in respect of leases.

1.13
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

1.14
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

SOUTH NORTHUMBERLAND CRICKET CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 6 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
-
0
2
4
Intangible fixed assets
Website
£
Cost
At 1 October 2023 and 30 September 2024
11,925
Amortisation and impairment
At 1 October 2023 and 30 September 2024
11,925
Carrying amount
At 30 September 2024
-
0
At 30 September 2023
-
0
SOUTH NORTHUMBERLAND CRICKET CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 7 -
5
Tangible fixed assets
Freehold land and buildings
Leasehold land and buildings
Fixtures and fittings
Total
£
£
£
£
Cost
At 1 October 2023
2,606,296
243,534
67,376
2,917,206
Additions
33,532
-
0
18,290
51,822
Disposals
-
0
-
0
(14,164)
(14,164)
At 30 September 2024
2,639,828
243,534
71,502
2,954,864
Depreciation and impairment
At 1 October 2023
922,876
19,469
28,120
970,465
Depreciation charged in the year
52,080
1,581
12,966
66,627
Eliminated in respect of disposals
-
0
-
0
(14,164)
(14,164)
At 30 September 2024
974,956
21,050
26,922
1,022,928
Carrying amount
At 30 September 2024
1,664,872
222,484
44,580
1,931,936
At 30 September 2023
1,683,419
224,065
39,256
1,946,740
Last year c/fwd cost
2,606,295
243,534
67,376
Differs from this year b/fwd by
1
-
-
6
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
1
1
Other investments other than loans
1,299,916
1,221,604
1,299,917
1,221,605
Movements in fixed asset investments
Shares in subsidiaries
Other investments
Total
£
£
£
Cost or valuation
At 1 October 2023 & 30 September 2024
1
1,221,604
1,221,605
Carrying amount
At 30 September 2024
1
1,221,604
1,221,605
At 30 September 2023
1
1,221,604
1,221,605
Error! Does not agree to TB:
1
1,299,916
1,299,917
Difference
-
(78,312)
(78,312)
SOUTH NORTHUMBERLAND CRICKET CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 8 -
7
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
549
-
0
Other debtors
346,067
345,775
Prepayments and accrued income
1,203
2,015
347,819
347,790
8
Current asset investments
2024
2023
£
£
Other investments
12,890
12,879
9
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
10,000
10,000
Trade creditors
3,079
6,982
Amounts owed to group undertakings
345,386
291,843
Taxation and social security
(1,418)
(419)
Government grants
32,259
4,355
Other creditors
237
344
389,543
313,105

 

10
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
25,000
32,500
Other creditors
171,901
232,022
196,901
264,522

 

11
Members' liability

The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding one years subscription.

SOUTH NORTHUMBERLAND CRICKET CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 9 -
12
Related party transactions

South Northumberland Cricket Club owns 100% of the share capital of Newcastle Cricket Centre Limited. During the year expenses were recharged to Newcastle Cricket Centre Limited totalling £100,120 (2023 £159,174) and invoices were raised to South Northumberland Cricket Centre Limited totalling £86,101 (2023: £103,516). During the year amounts totalling £67,562 (2023: £100,849) were received from Newcastle Cricket Centre Limited. At the year end the total amount outstanding to Newcastle Cricket Centre Limited was £345,386 (2023 £291,843) and is included within amounts owed to group undertakings.

 

During the year Newcastle Cricket Centre made a provision for a gift aid donation to South Northumberland Cricket Club Limited totalling £nil (2023 £86,322). At the year end the total amount due from Newcastle Cricket Centre Limited in respect of the provision was £339,308 (2023 £339,308) and is included within other debtors.

 

 

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