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Registration number: 07534906

North Devon Cricket Club Ltd

(A company limited by guarantee)

Unaudited Financial Statements

for the Year Ended 30 September 2024

 

 

North Devon Cricket Club Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 9

 

North Devon Cricket Club Ltd

(Registration number: 07534906)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

183,033

139,644

Investment property

5

190,000

190,000

 

373,033

329,644

Current assets

 

Stocks

6

1,900

2,335

Debtors

7

34

61

Other financial assets

8

224,424

310,692

Cash at bank and in hand

 

47,986

2,410

 

274,344

315,498

Creditors: Amounts falling due within one year

9

(16,042)

(7,120)

Net current assets

 

258,302

308,378

Total assets less current liabilities

 

631,335

638,022

Creditors: Amounts falling due after more than one year

9

(46,982)

(17,800)

Net assets

 

584,353

620,222

Reserves

 

Profit and loss account

584,353

620,222

Members' funds

 

584,353

620,222

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 and 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 Income and Expenditure Account.

 

North Devon Cricket Club Ltd

(Registration number: 07534906)
Balance Sheet as at 30 September 2024

Approved and authorised by the Board on 13 May 2025 and signed on its behalf by:
 

.........................................
Mr M Ansell
Director

.........................................
Mr T Richards
Director

 

North Devon Cricket Club Ltd

Notes to the Unaudited 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, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

The address of its registered office is:
The Pavilion
Sandhills, Instow
Bideford
Devon
EX39 4LF

These financial statements were authorised for issue by the Board on 13 May 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.

Revenue recognition

Income 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. Income 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.

 

North Devon Cricket Club Ltd

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

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.

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

Leasehold land and buildings

3% straight line

Plant and machinery

15% reducing balance

Fixtures and fittings

15% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. The directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

 

North Devon Cricket Club Ltd

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

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.

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 income and expenditure 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.

 

North Devon Cricket Club Ltd

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

3

Staff numbers

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

4

Tangible assets

Long leasehold land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 October 2023

113,305

47,044

82,393

242,742

Additions

-

4,835

57,804

62,639

At 30 September 2024

113,305

51,879

140,197

305,381

Depreciation

At 1 October 2023

20,477

32,330

50,291

103,098

Charge for the year

2,833

2,932

13,485

19,250

At 30 September 2024

23,310

35,262

63,776

122,348

Carrying amount

At 30 September 2024

89,995

16,617

76,421

183,033

At 30 September 2023

92,828

14,714

32,102

139,644


 

Costs as at 1 October 2023 includes the directors valuation of assets transferred from North Devon Cricket Club on 1 October 2011 as follows - plant and equipment £31,200 and fixtures and fittings £14,605.

 

North Devon Cricket Club Ltd

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

5

Investment properties

2024
£

At 1 October

190,000

At 30 September

190,000


 

There has been no valuation of investment property by an independent valuer.

6

Stocks

2024
£

2023
£

Other inventories

1,900

2,335

7

Debtors

Current

2024
£

2023
£

Other debtors

34

61

 

34

61

 

North Devon Cricket Club Ltd

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

8

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Current financial assets

Cost or valuation

At 1 October 2023

310,692

310,692

Additions

76,232

76,232

Disposals

(162,500)

(162,500)

At 30 September 2024

224,424

224,424

Carrying amount

At 30 September 2024

224,424

224,424


 

Investments had a market value of £268,103 at the end of the year (30 September 2023 - £327,090).

 

North Devon Cricket Club Ltd

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

9

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

15,292

6,400

Accruals and deferred income

 

750

720

 

16,042

7,120

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

46,982

17,800

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

46,982

17,800

Current loans and borrowings

2024
£

2023
£

Other borrowings

15,292

6,400